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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.

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Connect With Rexford’s Schwimmer and Frankel

About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as 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, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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