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Transactions - JUNE 21, 2022

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Rexford Industrial spends $218m for six industrial properties

by Andrea Zander

Rexford Industrial Realty has purchased six industrial properties, located throughout infill Southern California, for $218.4 million.

“Rexford Industrial continues to leverage its differentiated sourcing advantage and value-add expertise within infill Southern California, the nation’s most desirable industrial market, with occupancy levels at essentially full capacity and an incurable supply-demand imbalance. Tenant demand for Rexford Industrial’s high-quality, irreplaceable portfolio continues at historically high levels, as demonstrated by the nearly 1 million square feet of leases executed during April and May at leasing spreads of 86 percent and 63 percent on a GAAP and cash basis, respectively,” stated Howard Schwimmer and Michael Frankel, co-CEOs of the company.

“Our investments year-to-date, of which over 85 percent were acquired through off-market or lightly marked transactions, plus our pipeline of over $700 million of additional investments under

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