Pacific Gulf sells to CalWest Industrial Properties

NEWPORT BEACH, Calif. – Locally based Pacific Gulf Properties Inc. has closed on the sale of two of its remaining industrial properties to CalWest Industrial Properties LLC. The sale of the Mountain Avenue Business Park in Upland, Calif., and the Geneva property in Tempe, Ariz., resulted in approximately $9.7 million net cash proceeds to Pacific Gulf after the payment of costs and expenses. The transaction represents the final closing under the company’s agreement with CalWest. Pacific Gulf is in the process of liquidating its assets.