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COMMERCE, CALIF. — Rexford Industrial Realty has purchased a multi-tenant industrial property in Southern California for $18.2 million, or $245 per square foot.
Located at 6100 Sheila St. in Commerce, the 74,527-square-foot freezer/cooler building sits on 4.3 acres. The 22-foot clear height building features 40 dock positions with units from 6,000 square feet to 18,000 square feet. At the time of sale, the property was 100 percent leased to seven tenants.
Rexford plans to improve the building’s functionality and energy efficiency with the potential to roll in-place leases to higher market rates. The name of the seller was not disclosed.