June 22, 2017
Connect Industrial is heading to Chicago, June 28th. Here’s where to get more details and register.
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.
For comments, questions or concerns, please contact Dennis Kaiser