Rexford Snags Three SoCal Industrial Assets for $33.8M, Divests Another
Rexford Industrial Realty, Inc. acquired three industrial properties in SoCal for roughly $33.8 million and disposed another for $4.5 million. The acquisitions with undisclosed parties were funded through a combination of cash on hand, use of the REIT’s existing line of credit, as well as the re-investment of disposition proceeds.
The largest of the deals was the acquisition of 4039 Calle Platino, a 143,274-square-foot building in Oceanside, CA for $20 million (pictured). The asset sits on 9.54 acres of land, and is currently 100% leased to four tenants at in-place rents that are meaningfully below market. Lee & Associates’ Tim Moore represented the seller, 6th & K Ltd of San Diego. CBRE’s Adam Molnar and Greg Lewis represented the buyer.
The company also acquired 851 Lawrence Dr., a vacant 49,976-square-foot building in Thousand Oaks, CA for $6.6 million, and 1581 North Main St., a 100% leased 39,661-square-foot property in Orange, CA for $7.2 million. Rexford sold 200-220 South Grand Ave., a 27,200-square-foot building in Santa Ana, CA for roughly $4.5 million.
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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