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California  + Inland Empire  + Industrial  | 

Rexford Picks Up Ontario Industrial Park for $24M

Rexford Industrial Realty, Inc. acquired Ontario Airport Commerce Center, a 213,600-square-foot industrial park in Ontario, CA, from an unnamed seller for roughly $24.1 million. The acquisition was funded through a combination of disposition proceeds, and draws on the company’s line of credit.

The three-building, 86%-leased property includes 1900 Proforma Ave. and 1910 – 1920 S. Archibald Ave. The asset on Proforma contains 135,360 square feet and features high-demand sub-20,000-square-foot dock-high units with 24-foot clearance. The property on Archibald contains 78,243 square feet with small multi-tenant grade-level units.

Rexford’s Michael Frankel says, “We expect to capture immediate value by implementing renovations and by leasing vacant space to drive occupancy and to raise below market in-place rents to higher market rates.”

Rexford also divested a two-building property containing 25,168 square feet at 700 Allen Ave. and 1830 – 1851 Flower St. in Glendale, CA for $10.9 million.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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