The priciest industrial deals of the summer

Rexford Industrial snagged two out of the five spots

Sep.September 01, 2017 03:00 PM
Rancho Pacifica Park (credit: Cushman & Wakefield)

Summer is nearing its end, but the heat in Los Angeles is definitely not.

Here’s a look at the hottest deals that closed in the industrial market in Los Angeles County this summer so far, based on CoStar data recorded from June 20 to September 1.

2301-2399 and 2330-2398 E. Pacifica Place, 20001-20021 S. Rancho Way

The summer’s most expensive industrial deal occurred on July 27 when Rexford Industrial acquired a six-building complex in Rancho Dominguez, for $210.5 million. The seller of the 1.17 million square feet of industrial space was undisclosed, but records show the 55-acre site was tied to the California State Teachers’ Retirement System.

14305 – 14339 Don Julian Road

On Aug. 1, AEW Capital Management purchased Towers Industrial Park in the City of Industry for $62.1 million, taking the second spot on our list. The seller of the 525,000-square-foot property was undisclosed.

600 Live Oak Avenue

Next up was Realterm US’ purchase of a 92,500-square-foot warehouse in Irwindale for $36.5 million on June 20. The 1990-built building was previously owned by real estate services firm Burr & Temkin.

14280 & 14380 Carmencita Road, 13555 Excelsior Drive

Rexford Industrial’s second appearance on the list is its acquisition of the summer’s fourth most expensive property. On June 30, the REIT paid $30.7 million for three-building facility, which spans 198,100 square feet across 12 acres. Property records show the site previously belonged to Sydney Development Corp.

341-345 N. Baldwin Park Boulevard

Coming in last (and most recent) was EverWest Real Estate Partners’ purchase of a three-building industrial complex in the City of Industry for $20.9 million. Textile manufacturer Amrapur Overseas sold the 165,680-square-foot site on Aug. 28, raking in $126 a square foot.

Related Article

Rexford Industrial Realty co-CEOs Howard Schwimmer and Michael S. Frankel

Rexford signs film and TV props supplier to giant warehouse lease Downtown

From left: Saeed Nourmand, Michael Nourmand, Grant King and Richard Heyman

Relevant Group sues Nourmand & Associates’ founder, alleging extortion over hotel projects

Centennial founder and CEO Steven Levin with a rendering of the project

Centennial Real Estate approved for sprawling $300M mixed-use village

Apartment complex at 1435 Stanley Avenue and Raintree Partners CEO Jeffrey Allen (Credit: Apartment Finder)

Raintree Partners spends $79M on Glendale multifamily portfolio

LA Mayor Eric Garcetti

Down goes Measure EE: Property tax referendum routed at polls

CIM Group Founders, Shaul Kuba, Richard Ressler, and Avi Shemesh and 4750 Wilshire Boulevard (Credit: Google Maps)

CIM Group lists part of its Miracle Mile office campus

Rexford Industrial co-CEOs Howard Schwimmer and Michael S. Frankel and Rexford properties in Thousand Oaks and Industry

“It’s a large and vast market of opportunity:” Behind Rexford Industrial’s real estate rampage

Arman Gabay and The Springs shopping center in Palm Springs, part of the 14-property portfolio

Charles Co. secures $215M refi for retail portfolio