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LONG BEACH, CALIF. — Rexford Industrial Realty has purchased a build-to-suit facility at Douglas Park in Long Beach for $30.6 million. The 136,965-square-foot building is occupied by Universal Technical Institute, which signed a 15-year lease.
CBRE’s Darla Longo, Barbara Emmons Perrier, Rebecca Perlmutter Finkel and Michael Kendall represented the buyer and seller, Sares Regis Group, in this transaction. CBRE’s John Schumacher, Brian DeRevere and J.B. Green were the local market experts on the deal.