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Rexford Snags Oceanside Industrial Property for $10M
Los Angeles-based Rexford Industrial Realty, Inc. acquired a three-building 73,747-square-foot industrial property in Oceanside, CA for $10.2 million, or $138-per-square-foot. The assets include 1332, 1336 and 1340 Rocky Point Dr., and are located within the 120-acre master-planned Pacific Coast Business Park in the heart of Oceanside.
The REIT’s Howard Schwimmer and Michael Frankel note the modern industrial buildings are well-located in a supply constrained submarket. The assets are also expected to deliver an attractive opportunity to create value through lease up to stabilization.
The buildings are located on separate land parcels totaling 3.64 acres and are currently 31% occupied. The buildings were constructed in 2009, and feature 24-foot clear heights, dock high loading, high image and modern functionality. Rexford plans to undertake minor functional and cosmetic upgrades on the two vacant buildings to capture full rents upon lease-up.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


