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Rexford Forks Over $210M for LA Mid-Counties Industrial
Rexford Industrial Realty, Inc. acquired 9400 Santa Fe Springs Rd. in Santa Fe Springs, located in the LA – Mid-Counties submarket for $210 million, or $353 per square foot. The seller wasn’t disclosed. The acquisition was funded using proceeds from forward equity settlements; Rexford now has approximately $448 million remaining for settlement.
“Our year-to-date investment activity demonstrates Rexford Industrial’s unique ability to leverage our proprietary market access and value-creation strategies to drive accretive cash flow and net asset value growth within our infill Southern California market, the nation’s largest and highest-demand industrial market,” said co-CEOs Howard Schwimmer and Michael Frankel
The two-building property was built in 1979. Situated on 22.4 acres and 100% leased to two tenants, the 595,304-square-foot asset delivers a high degree of functionality within a submarket demonstrating an extreme scarcity of similar size and quality available product, according to Rexford.
- ◦Sale/Acquisition


