April 18, 2019
Los Angeles-based Rexford Industrial Realty, Inc. acquired four industrial properties in Southern California for a total of $84.5 million. The acquisitions were funded using cash on hand.
The transaction includes a 456,000-square-foot portfolio comprising three industrial buildings reportedly from Colony Capital Inc., including:
-13890 East Nelson Ave., City of Industry, $41.8 million, 256,993 square feet, 11.77 acres, 100% leased.
– 445 West Freedom Ave, Orange, CA, $18 million, 92,647 square feet on 4.06 acres, 100% leased.
– 2270 Camino Vida Roble, Carlsbad, CA, $16.8 million,106,311 square feet on 6.34 acres, 70% occupied
Rexford also acquired the 45,678-square-foot 980 Rancheros Dr. in San Marcos, CA for $7.9 million in a separate off-market transaction.
Rexford’s Michael Frankel says, “With this acquisition of over 500,000 square feet of buildings, we continue to build what we consider to be an irreplaceable, highly-functional industrial property portfolio.” He notes the REIT has completed $259-million of acquisitions so far this year.
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