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Rexford Nabs Fully Leased Ontario Warehouse
SoCal industrial specialist Rexford Industrial Realty Inc. has acquired 4422 Airport Dr. in Ontario, within the Inland Empire – West submarket, for $26.7 million or $303 per square foot. The seller was not disclosed. The Los Angeles-based REIT disclosed the acquisition, which occurred subsequent to the first quarter, in its Q1 earnings report.
Located adjacent to other Rexford-owned properties, the 88,283-square-foot building is 100% leased to two tenants and is generating a 5.5% initial unlevered stabilized yield. CBRE’s Rebecca Perlmutter Finkel, Barbara Perrier and Darla Longo at brokered the transaction. Ryan Leslie, Christina Hwa and Corey Guerrero represented Rexford in-house.
According to CBRE, the vacancy rate in the 347-million-square-foot IE – West submarket was 5.1% at the end of Q1 2024.
Rexford’s Patrick Schlehuber is among the industry leaders who will come together on the Capital Markets panel at Connect Los Angeles 2024 on May 1 at the InterContinental in DTLA. Register now to hear from these industry experts and more.
- ◦Sale/Acquisition

