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California  + Industrial  | 

Rexford Acquires IE Industrial Asset for $24.4M

Los Angeles-based Rexford Industrial Realty, Inc. acquired a two-building industrial project in Rancho Cucamonga, CA from an undisclosed seller for $24.4 million, or approximately $86 per square foot.

The property, located at 12320 4th St., consists of 284,676 square feet of distribution space on 16.5 acres and is currently 100% leased to Heritage Bag Co.

Additionally, Rexford completed roughly $19 million in dispositions involving two SoCal industrial properties, one in Orange County and another in the South Bay. The sale proceeds and cash on hand were used to fund the acquisition.

The company says, through the end of 2016 and into 2017, it will continue to execute on growth initiatives, focused on creating value within SoCal, a high-barrier infill market that is also the nation’s largest and most tightly occupied industrial market.

Colliers International’s Bret Hardy, Rick Putnam and Mark Zorn represented both parties in the acquisition.

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For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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