Rexford Industrial buys Inglewood FedEx building for $54M

The property is fully leased to FedEx until 2031

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
Hudson Pacific Properties CEO Victor Coleman with 3400 Hillview and 3176 Porter (Getty, HPP)
Hudson Pacific posts profit after 2 straight quarters of losses
Hudson Pacific posts profit after 2 straight quarters of losses
Mariposa on 3rd
CGI Strategies secures $42M loan on Koreatown apartment complex
CGI Strategies secures $42M loan on Koreatown apartment complex
Gov. Gavin Newsom with Doug Ose and John Cox (Getty, Twitter)
Real estate execs among challengers in Newsom recall
Real estate execs among challengers in Newsom recall
Rexford Co-CEOs Howard Schwimmer and Michael S. Frankel and Quixote CEO Mikel Elliott. (Google Maps, Rexford, Quixote)
Rexford Industrial inks studio and equipment firm to big lease
Rexford Industrial inks studio and equipment firm to big lease
2575 E El Presidio Street and Thor Equities Chairman Joe Sitt
Thor Equities pushes into LA industrial market
Thor Equities pushes into LA industrial market
Rendering of the new Pasadena office and existing building inset. (JLL, 101 South Marengo)
Let there be light: Atlas Capital will overhaul windowless Pasadena office block
Let there be light: Atlas Capital will overhaul windowless Pasadena office block
PPIH President & CEO Naoki Yoshida and TPG Capital Partner Paul Hackwell (Linkedin, Getty)
TPG Capital selling SoCal-based Gelson’s Markets
TPG Capital selling SoCal-based Gelson’s Markets
MDT Properties Marc Tavakoli and 627-631 N. Dillon Street (Google Maps, iStock/Illustration by Alexis Manrodt for The Real Deal)
Shovel-ready site in Silver Lake trades for $3.5M
Shovel-ready site in Silver Lake trades for $3.5M
arrow_forward_ios

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

Loading...