November 11, 2019 Comments Off on Rexford Bags Brea Industrial Asset for Nearly $28M Views: 654 California News, Orange County

Rexford Bags Brea Industrial Asset for Nearly $28M

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Los Angeles-based Rexford Industrial Realty, Inc. acquired an industrial property in Brea, CA for $27.6 million. The acquisition was funded using cash on hand and the re-investment of proceeds from a previously announced disposition through a tax-deferred 1031 exchange.

The asset is located at 404-430 Berry Way within the Orange County North submarket. The low-coverage site comprises three industrial buildings with excess paved land. The fully-leased site contains 120,250 square feet on 11.79 acres of land, and is well located in a highly supply constrained submarket.

Rexford’s Michael Frankel notes, the industrial property presents “the future potential to drive cash flow growth through a range of re-leasing or repositioning strategies.”

*Pictured Rexford’s Michael Frankel

Connect Inland Empire coming up Tuesday, November 12th. You can get more information and register to join us on this link.

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