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Rexford Picks up Five SoCal Assets for $73M

Los Angeles-based Rexford Industrial Realty, Inc. acquired five industrial properties in SoCal for $73.2 million. These recent transactions total 434,000 square feet and represent a blend of value-add and institutional-quality, core investments. The acquisitions were funded using cash on hand.

The assets include:
– a three-property industrial portfolio in Sun Valley acquired for $35.1 million, or $169 per square-foot in an off-market transaction. The 100% occupied portfolio contains 207,374 square feet on 8.38 acres of land.
– 15650-15700 S. Avalon Blvd. in L.A.’s South Bay submarket for $28.1 million, or $169-per-square-foot. Acquired through an off-market transaction, the two–building property contains 166,088 square feet on 7.24 acres of land.
– 15850 Slover Ave. in Fontana for $10 million, or $166-per-square-foot. Acquired through a lightly marketed transaction, the just completed and newly-constructed, vacant single-tenant industrial property contains 60,127 square feet on 2.79 acres of land.

The company says the acquisitions will provide favorable cash flow growth through the rolling of in-place, below-market rents to higher market rents, value-add property repositioning, and lease up of newly constructed, state-of-the-art vacant space.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as 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, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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