Nineteen cents per share of common stock will be paid on Jan. 10, 2001 to common stockholders of record as of Dec. 29, 2000. On Oct. 31, Mission West reported third quarter funds from operations of 23 cents a diluted share, a 28% year-over-year increase. Two days later analysts at Legg Mason upgraded Mission West from a recommendation of Buy to a Strong Buy.

Mission West operates as a self-managed, self-administered and fully integrated REIT engaged in the management, leasing, marketing, development and acquisition of commercial R&D properties, primarily located in the Silicon Valley. The company manages 89 properties with a total of approximately 6.2 million sf.

The company's portfolio of industrial properties in the Silicon Valley include a 117,400-sf building in South San Jose on Hellyer at Branham, across from Cisco (with a listed rent price of $1.25 per sf); 84,000 sf of manufacturing and warehouse space on Memorex Drive in Santa Clara ($0.75 per sf); and the 225-acre King Ranch Business Complex at Silver Creek and Highway 101 in South San Jose, with three buildings totaling 400,000 sf ($1.10 per sf).