June 30, 2020 Comments (0) Views: 306 California News, San Diego

Rexford Acquires Miramar Industrial Property for Nearly $8M

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Rexford Industrial acquired a two-building industrial property located in San Diego’s Miramar area for $7,850,000. The seller was an unnamed private individual. The buildings total 46,620 square feet and are located at 8745-8775 Production Ave. Rexford Industrial plans to complete significant exterior and interior improvements to the buildings.

Colliers International’s Evan McDonald handled the off-market transaction on behalf of the buyer.

“Rexford Industrial plans to execute a value-add strategy for 8745-8775 Production Avenue, just as they have successfully completed with dozens of other industrial properties locally,” said McDonald. “Our team continually monitors underperforming assets in San Diego County and identified this property as an ideal off-market opportunity to implement their proven investment and repositioning strategy.”

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