Rexford Industrial Buys Two Properties in Southern California for $34.5M
CITY OF INDUSTRY AND SUN VALLEY, CALIF. — Rexford Industrial Realty has acquired two industrial properties in Southern California for $34.5 million.
The company purchased a 190,900-square-foot industrial property at 218 S. Turnbull Canyon Road in City of Industry for $27.1 million, or $142 per square foot. Situated on 8.8 acres, the property was fully leased to a single tenant at a below-market rent. The facility features 30-foot clear heights, 44 dock doors and ESFR fire sprinklers.
Additionally, Rexford Industrial acquired an asset located at 9750 San Fernando Road in Sun Valley for $7.4 million, or $63 per square foot. The fully leased, paved site features 35,624 square feet of improvements on 2.7 acres, with significant outdoor storage space and potential for future development of a new distribution building.
Year-to-date, Rexford has acquired $463 million in assets.