July 13, 2016
Los Angeles-based Rexford Industrial acquired two assets and disposed of two additional ones in Southern California for an aggregate total of $48.6-million.
The company acquired a remaining 85% interest in 3233 Mission Oaks Boulevard in Camarillo, CA, an industrial property previously held in a joint venture for approximately $21.8 million. Rexford also acquired 525 Park Ave., a multi-tenant industrial building in San Fernando, CA for $7.6 million.
Rexford disposed of 12910 Mulberry Drive, a 153,080-square-foot, 1960’s vintage building with 18-foot clear-heights in Whittier, CA for $15 million, and sold 1840 Dana St., a 13,497-square-foot creative industrial building in Glendale, CA for $4.25 million
Both assets were sold vacant to users and $19.2-million in sale proceeds were used in a tax deferred exchange contributed towards the Mission Oaks acquisition.
For comments, questions or concerns, please contact Dennis Kaiser