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Rexford Claims Two SoCal Industrial Assets for $139M
Rexford Industrial Realty, Inc. completed the acquisition of two industrial properties comprising six buildings for a total of $139 million. The acquisitions were funded using cash on hand and draws on the Los Angeles-based REIT’s line of credit.
Rexford’s Howard Schwimmer says, “These two off-market transactions contribute over 698,000 square feet of high-quality industrial property comprising a balance of in-place cash flow, together with value-add repositioning and rental rate growth opportunity.”
The acquisitions included:
– San Fernando Business Center in the San Fernando Valley submarket, acquired for $118.1 million, or $200-per-square-foot from Barings Real Estate Advisers. The 88%-occupied industrial business park consists of three single-tenant industrial buildings and two three-tenant industrial buildings, totaling 591,660 square feet on 28.67 acres of land.
– 10015 Waples Court (pictured), within the Central San Diego submarket was acquired for $21.3 million or $200-per-square-foot. The vacant industrial building contains 106,412 square feet on 5.42 acres of land, and features modern functionality with high-image design.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


