October 9, 2019
Los Angeles-based Rexford Industrial Realty, Inc. acquired three industrial properties in SoCal for $76 million. The acquisitions add more than 520,000 square feet, and were funded using cash on hand.
The deals in high-barrier, prime infill locations include:
– Slauson Commerce Center in City of Commerce, acquired for $41.3 million. Two 98%-leased, divisible distribution buildings total 336,085 square feet and sit on 10.51 acres of land.
– 2328 Teller Rd. (pictured), a multi-tenant industrial complex located in Thousand Oaks, for $23.3 million. The 93.4%-leased property contains 126,317 square feet of improvements on 8.11 acres of land. The seller, Newbury Industrial Associates, LLC, was represented by NKF’s Sean Fulp, Ryan Plummer, Mark Schuessler, Jeff Abraham, John DeGrinis and Patrick DuRoss. Rexford was represented by NKF’s Andrey Mindirgasov.
– 750 W. Manville St. in Compton, acquired in an off-market transaction for $11.5 million. The property contains 59,996 square feet of improvements on 2.76 acres of land and is fully-leased, long-term, to a single tenant.
For comments, questions or concerns, please contact Dennis Kaiser