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The Real Deal Los Angeles

Rexford nabs giant campus near Compton for $210.5M

Seller is tied to CalSTRS
By Cathaleen Chen | July 19, 2017 03:00PM

Rancho Pacifica Park (credit: Cushman & Wakefield)

The South Bay’s biggest industrial sale in 13 years may not be straight outta Compton —  but it almost touches its borders.

Rexford Industrial Realty paid $210.5 million for a six-building industrial center in the unincorporated area just south of Compton, the Los Angeles REIT announced this week.

The seller was not disclosed but property records show that the 55-acre site — dubbed Rancho Pacifica Park — was tied to the California State Teachers’ Retirement System.

Cushman & Wakefield’s Jeff Chiate, Jeffrey Cole, Ed Hernandez, Mike Adey and Nico Napolitano represented both sides of the deal.

“Rexford will continue to operate the property as an industrial park,” Chiate told The Real Deal.

The property at 20001-20021 Rancho Way and 2301-2399 E. Pacifica Place spans nearly 1.2 million square feet. It was 99 percent leased, with 23 tenants, at the time of the sale.

Rancho Pacifica Park continues Rexford’s recent buying streak on the heels of a new stock offering program that has a total capacity of $150 million. Last week, the REIT acquired a property in Norwalk and another in Carson for a combined $44.7 million. And last month, it paid $30.6 million for a 141,332-square-foot industrial building near the Long Beach Airport.