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Rexford Snags Still-Under-Construction Industrial Development in Simi
Rexford Industrial acquired an under-development industrial property in Simi Valley, CA from Xebec Realty and Oaktree Capital for $10.2 million. The 56,306-square-foot facility is located at 1998 Surveyor Ave. The REIT plans to put the property on the market for lease upon its expected completion in the first quarter of 2019.
Situated on 2.98 acres of land, the state-of-the-art, free-standing industrial building will feature 30-foot minimum clearances, an ESFR sprinkler system, five dock-high loading doors and one ground-level loading door, as well as 6,000 square feet of offices.
Colliers International’s John DeGrinis, Patrick DuRoss and Jeff Abraham represented both parties.
“The development presented an excellent opportunity for our buyer in a prime east Simi Valley location with major street frontage on Los Angeles Avenue, Tapo Canyon Road and Surveyor Avenue,” said DuRoss. “Finding a still-being-built, Class A industrial building like this one is a rarity in this supply constrained submarket.”
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