Rexford Industrial Buys Two Properties in Southern California for $139M

SAN FERNANDO AND SAN DIEGO, CALIF. — Rexford Industrial Realty has acquired two industrial properties, comprising six buildings, for a total of $139 million. The acquisitions were funded using cash on hand and draws on the company’s line of credit.

The company purchased San Fernando Business Center within the LA-San Fernando Valley submarket for $118.1 million, or $200 per square foot. At the time of acquisition, the industrial business park was 88 percent occupied. The park consists of three single-tenant industrial buildings and two three-tenant industrial buildings, totaling 591,660 square feet on 28.6 acres of land. The property features 24-foot minimum clear heights, extensive dock-high loading and proximity to four freeways.

Additionally, Rexford acquired 10015 Waples Court within the Central San Diego submarket for $21.3 million, or $200 per square foot. Situated on 5.4 acres, the vacant industrial building features 106,412 square feet with 31-foot clear heights and is divisible for two tenants.

Get more news delivered to your inbox. Subscribe to France Media's e-newsletters. Click here.

Related News

Updated daily:
How Will COVID-19 Impact the Commercial Real Estate Industry?
Click here.

COVID-19 Webinars: Learn more about the CRE industry's response to the coronavirus. Sign up.

Read the Digital Editions

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Ancillary Retail

Student Housing Business

Seniors Housing Business