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Rexford Acquires Pair of SoCal Industrial Assets for $35M
Los Angeles-based Rexford Industrial Realty, Inc. acquired two industrial properties in SoCal for a total of $34.5 million. The sellers were undisclosed.
The REIT acquired 218 S. Turnbull Canyon Rd. (pictured) in the City of Industry for $27.1 million. The property contains 190,900 square feet on 8.79 acres, and is 100% leased to a single tenant at a below-market rent.
Also acquired was 9750 San Fernando Rd. in Sun Valley for $7.4 million. The fully-leased, paved site contains 35,624 square feet of improvements on 2.69 acres, with significant outdoor storage space and potential for future redevelopment of a new distribution building.
Rexford’s Michael Frankel says, “Turnbull Canyon is a fully leased, single tenant industrial property offering modern functionality in a supply-constrained submarket. San Fernando Road is fully leased to a single tenant at a favorable yield and also represents a potential future redevelopment opportunity.”
Cushman & Wakefield’s Jeff Chiate, Jeff Cole and Mike Adey brokered the deal.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


