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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
- ◦Sale/Acquisition


