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Rexford Snags Pair of SoCal Value-Add Industrial Assets for $27M
Rexford Industrial Realty, Inc. acquired two Mid-Counties industrial properties for $26.8 million. The off-market acquisitions were funded using cash-on-hand.
The properties are in Downey and include:
– 12200 Bellflower Blvd. acquired for $16.3 million, or $64-per-land-square-foot. The short-term leased, single-tenant property contains 54,161 square feet, including a modern clear height industrial building on 5.87 acres of land.
– 9607-9623 Imperial Highway, bought for $10.5 million, or $65-per-land-square-foot. The property consists of a trucking and container yard with 7,466 square feet of office and warehouse space on 3.68 acres of land.
Rexford’s Howard Schwimmer says, “Bellflower Boulevard and Imperial Highway are both low-coverage industrial sites with value-add repositioning planned upon the expiration of in-place short-term leases that are currently at below-market rates. The sites provide favorable and highly sought-after truck trailer parking, and outside storage functionality that is otherwise extremely scarce due to a lack of land and restrictive zoning.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


