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Rexford Completes $123M in SoCal Industrial Deals
Rexford Industrial Realty, Inc. acquired five industrial properties for a total of $110.3 million and disposed two properties for $12.8 million. The acquisitions were funded using cash-on-hand as well as the reinvestment of disposition proceeds.
Rexford’s Howard Schwimmer and Michael Frankel said, “These investments contribute 488,000 square feet to our portfolio, representing a blend of both core and value-add product.”
The acquisitions included:
– 1402 Avenida Del Oro in Oceanside for $73.6 million, or $236-per-square-foot. The single-tenant, 311,995-square-foot distribution building is situated on 38.6 acres of land. (pictured)
– 3150 E. Ana St. in Rancho Dominguez for $18.8 million, or $177-per-square-foot. The site was purchased through an off-market sale-leaseback for a price approximating land value and contains 105,970 square feet of improvements on 6.06 acres of land. At lease expiration, Rexford intends to reposition the property into a high throughput, low coverage logistics facility.
-18115 S. Main St. Carson ($6.8 million) 42,270 square feet on 2.74 acres of land in an off-market transaction.
– 5725 Eastgate Dr. in San Diego ($8.2 million) CBRE’s Bill Dolan represented the seller, Valley Investment Services
– 3340 N. San Fernando Rd. in Los Angeles ($3 million)
The dispositions included:
– 62,395-square-foot multi-tenant complex in Fullerton ($11.5 million)
– 6,562-square-foot industrial condo in Vista, ($1.3 million)
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
- ◦Sale/Acquisition
