July 14, 2017
Rexford Industrial Realty, Inc. completed $90.3-million in acquisition and disposition transactions involving four SoCal industrial properties. The REIT used proceeds from the disposition to reinvest into a new acquisition, with the balance of the purchases funded utilizing cash on hand and the company’s line of credit.
The acquisitions included
- 3002-3072 Inland Empire Blvd. in Ontario within the Inland Empire West submarket, for $26.9 million, encompassing four multi-tenant industrial buildings containing 218,407 square feet on nearly 11 acres that are 100% leased to nine tenants
- 14820-30 Carmenita Road and 13555 Excelsior Drive located in Norwalk for $30.7 million, including one two-tenant industrial building and two single-tenant industrial buildings totaling 198,062 square feet on 12 acres.
- 17000 Kingsview Ave./800 Sandhill Ave. in Carson for roughly $14 million, a 100,121-square-foot building on nearly 4 acres that is 100% leased
The disposition included
- 2811 South Harbor Blvd., in Santa Ana for roughly $19 million
For comments, questions or concerns, please contact Dennis Kaiser