California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Rexford Snags Three SoCal Industrial Assets for $33.8M, Divests Another
Rexford Industrial Realty, Inc. acquired three industrial properties in SoCal for roughly $33.8 million and disposed another for $4.5 million. The acquisitions with undisclosed parties were funded through a combination of cash on hand, use of the REIT’s existing line of credit, as well as the re-investment of disposition proceeds.
The largest of the deals was the acquisition of 4039 Calle Platino, a 143,274-square-foot building in Oceanside, CA for $20 million (pictured). The asset sits on 9.54 acres of land, and is currently 100% leased to four tenants at in-place rents that are meaningfully below market. Lee & Associates’ Tim Moore represented the seller, 6th & K Ltd of San Diego. CBRE’s Adam Molnar and Greg Lewis represented the buyer.
The company also acquired 851 Lawrence Dr., a vacant 49,976-square-foot building in Thousand Oaks, CA for $6.6 million, and 1581 North Main St., a 100% leased 39,661-square-foot property in Orange, CA for $7.2 million. Rexford sold 200-220 South Grand Ave., a 27,200-square-foot building in Santa Ana, CA for roughly $4.5 million.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


