DAUM Directs $40M Sale of Irwindale Industrial Property

Rexford Industrial continues to snap-up Southern California warehouses, as the Los Angeles-based REIT has purchased an 8-acre parcel with two industrial buildings totaling 68,000 square feet in Irwindale, CA. DAUM Commercial Real Estate Services’ Dennis Sandoval, Kevin Sandoval and Bryan Sandoval represented the seller, DS Services of America, Inc. in the $40 million deal.

Rexford purchased the property as a “leased investment”, with the potential for redevelopment in the future. “Over 12 qualified offers for this property were submitted for consideration, which demonstrates investors’ appetite for well-located, high-quality industrial assets in the Los Angeles market,” said Kevin Sandoval.

The property consists of a 53,000-square-foot Class C industrial building with 24’ clear height and a second 15,000-square-foot building on a secure corner lot with plenty of parking. Located within the industrial region of San Gabriel Valley on Azusa Canyon Road, the infill parcel is in close proximity to Interstates 10, 210 and 605.