California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Rexford Nabs Two Industrial Properties for $44M
Rexford Industrial Realty, Inc. acquired a pair of industrial properties for $43.5 million. The acquisitions, one in Orange County and the other in the San Fernando Valley, were funded using available cash on hand.
The industrial REIT acquired 5593-5595 Fresca Dr. in La Palma in an off-market deal for $14 million. The two-tenant building contains 115,200 square feet on 5.7 acres of land. The property provides significant upside with the potential for future value-add functional and modernization improvements at lease roll, as in-place rents are estimated to be roughly 28% below market.
The other off-market deal included 9200 – 9250 Mason Ave. and 9171 Oso Ave. in Chatsworth, which was picked up for a $29.5 million. The complex consists of four buildings containing 256,200 square feet on 11.14 acres and is 100% leased to three tenants in the cosmetics industry, all with significant investment in their facilities.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


