Rexford Industrial buys Inglewood FedEx building for $54M

The property is fully leased to FedEx until 2031

TRD LOS ANGELES /
Dec.December 08, 2017 11:00 AM
687 N. Eucalyptus Ave, Inglewood CA (Credit: JLL)

Rexford Industrial Realty has scooped up the 143,400-square-foot industrial building home to FedEx at 687 N. Eucalyptus Avenue in Inglewood sold for $53.9 million — or $376 per square foot, CoStar reported.

The property’s sellers were MetLife, Inc. and Panattoni Development Company, Inc., which jointly acquired the site in December 2015 for $7.4 million.

FedEx fully leased the customized building in 2016 and will stay on as the main tenant until 2031.

Cushman & Wakefield’s Kelli Snyder, Michael Condon, Edward Hernandez and Mike Adey had the listing. Rexford’s in-house brokers represented the investment trust.

Rexford is continuing to nab industrial properties on the heels of its massive $211 million acquisition of a six-building campus in Compton, marking the South Bay’s biggest sale in nearly 13 years. The company owns over 136 properties in Southern California with about 15 million rentable square feet and manages 19 properties with approximately 1.2 million rentable square feet, according to its website. [CoStar] – Natalie Hoberman


Related Articles

arrow_forward_ios
First District Supervisor Hilda Solis (Credit: Rebecca Sapp/Getty Images)

LA County select reopening target date for restaurants and retailers

LA County select reopening target date for restaurants and retailers
Doug Harmon, Chairman of Cushman & Wakefield, and the Mountain of Beverly Hills (Credit: Cushman & Wakefield)

He sold the Willis Tower and the GM Building. But can Doug Harmon sell the Mountain?

He sold the Willis Tower and the GM Building. But can Doug Harmon sell the Mountain?
Eric Garcetti orders a moratorium on LA commercial evictions (Photo credit: iStock photo)

Garcetti orders a moratorium on commercial evictions in LA

Garcetti orders a moratorium on commercial evictions in LA
LA promo

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!
Long Beach area and San Fernando Valley attract biggest industrial sales in 2019

Here are LA County’s biggest industrial sales of 2019

Here are LA County’s biggest industrial sales of 2019
From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)

Rexford Industrial adds to LA portfolio with $100M in acquisitions

Rexford Industrial adds to LA portfolio with $100M in acquisitions
Andrew McDonald and At Mateo in the Arts District

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more
3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Luzzatto Co. assembling creative office hub in West Adams
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...