Mission West In Play Again?

According to Mission West Properties CEO Carl Berg, the portfolio of properties could be in escrow by the end of October. Earlier this year, plans to sell the portfolio of properties fell through when turbulence in the commercial paper market and associated credit crunch torpedoed the deal.

The portfolio, consisting of nearly 7M square feet of space is approximately 62% occupied, well below the average occupancy rates for this market.

According to Carl Berg, if the plans to sell the portfolio doesn’t materialize by month’s end, then it will be taken off the market.

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