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Rexford Industrial Acquires Pair of Industrial Properties for $40M
Los Angeles-based Rexford Industrial Realty, Inc. acquired two industrial properties, one in San Diego and another in Carson, CA, for $40.3 million. The acquisitions were funded using available cash on hand.
The REIT acquired 6131 and 6133 Innovation Way in Carlsbad (pictured) for $24.2 million or $211-per-square-foot. The 72%-occupied property consists of two newly-built, separately-parceled buildings each with two tenant spaces, together containing 114,572 square feet on 8.28 acres. The assets are a value-add opportunity via lease-up with highly-functional space featuring 30-foot to 32-foot clear heights, dock-high loading and a 200-foot truck court.
Also acquired in a sale-leaseback transaction was 263-321 East Gardena Blvd. in Carson for $16.1 million or $68-per-land-square-foot. The single-tenant property comprises 55,238 square feet of buildings on 5.41 acres, and includes excess land for container storage. Upon closing of the transaction, the current occupant, a national trucking operator, signed a new five-year lease.
Voit’s Chuck and Eric McNary represented both parties in the deal.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


