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Rexford Industrial Acquires Two Industrial Properties for $21.5M
Rexford Industrial Realty, Inc. acquired two industrial properties for a total of $21.5 million. The deals involve a leased investment in San Marcos, CA and a vacant, value-add opportunity in Long Beach.
The company acquired 660 and 664 North Twin Oaks Valley Rd. in the North San Diego County submarket for $14 million (pictured) from DCT Industrial. The property contains two 100% leased industrial buildings totaling 96,993 square feet, and situated on 4.88 acres of land.
Also acquired was 1580 West Carson St. in Long Beach for $7.5 million. The property contains a 43,787-square-foot building on 2.52 acres, and was vacated by the seller immediately prior to closing.
Rexford’s Michael Frankel says, “The leased property provides an attractive initial cash return, with longer term opportunities to reposition to higher market rents. The value-add acquisition was acquired off-market and is expected to stabilize with a strong cash yield.”
CBRE’s Darla Longo, Barbara Emmons Perrier, Brett Hartzell, and Rebecca Perlmutter Finkel handled the sale.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


