Bedford Property Investors Announces New Lease Transaction
29 August 2005 - 2:00PM
Business Wire
Bedford Property Investors, Inc. (NYSE:BED) announced today the
signing of a lease for 22,026 square feet in its Time Square
project, at 500 SW 39th Street, Renton, Washington. The ten-year
lease is with a national education company. The lease is to
commence at the end of the fourth quarter 2005. "With this lease we
have commenced Phase III of our Time Square redevelopment project
and have leased 84,516 square feet in this five-building
rehabilitation project this year. We're very pleased with the
success we've experienced in our leasing program at Time Square,"
said Peter B. Bedford, Chairman of the Board and Chief Executive
Officer. "With the addition of this tenant, the five building
property will be 33% leased." Bedford Property Investors is a
self-administered equity real estate investment trust (REIT) with
investments in suburban office buildings and industrial properties
concentrated in the western United States. It is traded on the New
York Stock Exchange and the Pacific Exchange under the symbol "BED"
and its web site is www.bedfordproperty.com. Please note: This
press release contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934 that
represent the company's current expectations and beliefs,
including, among other things, the company's expectations regarding
the commencement time of the lease. These forward-looking
statements are subject to certain risks and uncertainties that
could cause the actual results, performance or achievements to be
materially different from those expressed, expected or implied by
the forward-looking statements. The risks and uncertainties that
could cause our actual results to differ from management's
estimates and expectations are contained in the company's filings
with the Securities and Exchange Commission, including its 2004
Annual Report on Form 10-K and its most recent Quarterly Report on
Form 10-Q. The company does not undertake to update forward-looking
information contained herein or elsewhere to reflect actual
results, changes in assumptions or changes in other factors
affecting such forward-looking information.
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