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SIMI VALLEY, CALIF. — Rexford Industrial has purchased Topaz Business Center, a six-unit industrial building in Simi Valley, from 2280 LLC for $46.4 million.
The property features 242,100 square feet of industrial space. Topaz Distribution purchased the asset 10 years ago for $14 million and added 40,000 square feet of rentable building footprint during a 2015 renovation.
Topaz Distribution occupies about 51,000 square feet of the property. Additional tenants include Tire Hub, Sooner Express, Frontline, Derma E and Lifetech Resource.
Mike Tingus, Jose Jusko and Grant Fulkerson of Lee & Associates’ LA North/Ventura office represented the buyer and seller in the deal.