California + Los Angeles + Industrial | December 18, 2020

Phoenix Affiliates Acquire 56+ Acres in Wisconsin for Spec Industrial Project

Rexford Buying Spree Continues, Boosts 2020 Activity to $1.1B

Los Angeles-based Rexford Industrial Realty, Inc. acquired a six-building industrial portfolio in Vernon for $93.8 million and an industrial outdoor storage yard in Santa Fe Springs for $16.8 million. The additions boost the REIT’s 2020 acquisitions activity to $1.1 billion, including $771 million in Q4 2020.

Rexford’s Michael Frankel says, “Acquired from its long-time owners and original developers, the Vernon portfolio acquisition demonstrates the strength of our local relationships and off-market sourcing advantage. This irreplaceable portfolio, located in close proximity to downtown Los Angeles, serves last-mile logistics demand providing an opportunity to proactively drive rent growth over time.”

The Vernon off-market portfolio comprises single- and multi-tenant buildings containing 464,415 square feet on 20.93 acres of land, featuring up to 30-foot clear heights with extensive dock-high loading. The properties are 100% leased at rents estimated to be roughly 28% below current market rates. Gautier Land Company was the seller and was represented by Daum’s Michael Nubel, Jerry Sackler and David Freitag.

Rexford also acquired a highly-sought-after, five-acre storage asset at 12211 Greenstone Ave. in Santa Fe Springs for $16.8 million.

The Vernon portfolio properties include:
– 1921-1931 E 27th St. (35,000 square feet);
– 2011-2025 E 27th St. (40,437 square feet);
– 2031-2099 E 27th St. (98,389 square feet);
– 2034-2040 E 27th St. (126,563 square feet);
– 2750 S Alameda St. (63,318 square feet); and
– 2800-2840 S Alameda St. (100,708 square feet).

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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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