June 22, 2017 Comments Off on Rexford Acquires Pair of Industrial Assets for $35.9M Views: 899 California News, Los Angeles

Rexford Acquires Pair of Industrial Assets for $35.9M

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Los Angeles-based Rexford Industrial Realty, Inc. acquired two industrial properties for approximately $35.9 million. The SoCal acquisitions were funded with cash on hand.

Rexford’s Howard Schwimmer said, “The acquisition of these two properties demonstrates our ability to continue to source attractive investments in high-demand locations within our core infill submarkets.”

The assets include:

  • Pacific Pointe at Douglas Park, 4175 E. Conant St. in Long Beach, acquired from Sares Regis Group for $30.6 million. The newly constructed 142,593-square-foot, Class A industrial facility features 32-foot clear height and LEED certification. It is 100% leased to Universal Technical Institute, Inc. through August 2030.
  • 5421 Argosy Ave. in the Orange County West submarket, acquired for $5.3 million.

CBRE’s Darla Longo, Barbara Emmons Perrier, Rebecca Perlmutter Finkel and Michael Kendall represented the buyer and the seller. CBRE’s John Schumacher, Brian DeRevere and J.B. Green were the local market experts on the deal.

Read more at Rexford

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