Rexford Industrial Realty has purchased eight industrial properties for an aggregate purchase price of $270 million.
“These eight investments, acquired through off-market and lightly marketed transactions, deliver substantial value creation and result from Rexford's deep, local sharp-shooter market knowledge and relationships, our value-add expertise and proprietary access to the infill Southern California market, the nation's strongest, highest demand and highest-barrier industrial property market,” said Howard Schwimmer and Michael Frankel, co-CEOs of Rexford.
The assets acquired:
A property located in the western portion of the City of Industry, Calif., within the Los Angeles-San Gabriel Valley submarket for $28.6 million, or $86 per square foot. The 7.6-acre site includes a single-tenant 111,927-square-foot building acquired through a multi-year sale leaseback. Upon lease expiration,
