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CERRITOS, CALIF. — Rexford Industrial Realty has acquired an industrial facility located at 16010 Shoemaker Ave. in Cerritos within the Los Angeles-Mid Counties submarket. An undisclosed company sold the property for $17.2 million, or $149 per square foot.
Situated on 4.4 acres, the 115,600-square-foot property features 24-foot clearance and 12 dock-high positions with a secured concrete yard and immediate access to major transportation arterials. At the time of sale, the property was fully leased to a single-tenant user.
Redford funded the acquisition through a combination of cash on hand and draws on the company’s line of credit.