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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.

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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.

  • ◦Sale/Acquisition