
Rexford Acquires Thousand Oaks Industrial Park For $106M
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Los Angeles-based Rexford Industrial Realty, Inc. acquired Conejo Spectrum Business Park, located in Thousand Oaks, CA for $106.3 million, or $200-per-square-foot. The nine-building industrial complex is 72% leased to a range of credit tenants, and contains 531,378 square feet on 28.05 acres of land.
The property was acquired via an off-market transaction from Sares-Regis Group, which developed it. The infill industrial market transaction presented Rexford the “rare opportunity” to acquire a newly-constructed industrial park in a highly competitive submarket in which Class A industrial space is virtually unavailable.
The Class A buildings are LEED-certified and feature 28-foot to 30-foot clearance, ESFR fire sprinklers, private secured yards and modern office space. Rexford intends to demise a vacant 98,218-square-foot building into two units in order to increase value.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition