October 28, 2015
L.A.’s Rexford Industrial Realty Inc. has purchased a former U.S. Postal Service facility in the Midway district of San Diego for $19.3 million. Rexford plans to transform the space for much-needed industrial usage.
The property totals two buildings encompassing 373,000 square feet, on16 acres of land near the sports arena in Point Loma. First-phase construction will feature approximately 229,000 square feet, including dock-high and ground-level loading capabilities, offices and parking. The remaining redevelopment will take place on the second floor of the buildings.
This acquisition brings Rexford’s year-to-date volume to almost $200 million dollars, with industrial interests owned across 116 Southern California properties.