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California  + Los Angeles  + Industrial  | 

Rexford Industrial’s 660K-SF Buy Tops $188M

Rexford Industrial Realty Inc. recently acquired five industrial properties comprising 660,254 square feet of improvements on 28.8 acres for an aggregate purchase price of $188.9 million. The acquisitions were funded using a combination of cash on hand and proceeds from the company’s previously executed forward equity offerings.

“Rexford Industrial continues to leverage our proprietary access to the nation’s most highly sought-after industrial property market within infill Southern California,” say Howard Schwimmer and Michael Frankel, Rexford co-chief executive officers. “Unprecedented tenant demand continues to intensify, driven by the post-pandemic economic resurgence and e-commerce related impacts that disproportionately benefit our last-mile Southern California industrial market.

“With infill Southern California occupancy near full capacity amidst a deep incurable supply-demand imbalance, we believe these investments are well-positioned to drive favorable cash flow growth as we execute our value-creation strategies,” they continue. “Year-to-date, we have completed $420 million of acquisitions with over $600 million of additional investments under contract or LOI. We are well-positioned with a low-leverage balance sheet and substantial liquidity to drive shareholder value through accretive internal and external growth.”


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Rexford Industrial

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.