Rexford’s latest industrial buy adds to mammoth LA collection

The REIT spent nearly $500M on industrial properties in 2018

TRD LOS ANGELES /
Jan.January 02, 2019 09:00 AM
Rexford sold off a Gardena property and bought up another in Industry

Rexford Industrial Realty squeezed in two year-end deals at the end of 2018, picking up a big warehouse in the City of Industry and selling off a Gardena property.

Rexford has been on a tear in the last few years, scooping up properties around the Los Angeles and parts of Southern California. It bought more than a dozen properties last year alone, paying nearly half a billion dollars in acquisition, according to a company statement.

Most recently, the Westside-based real estate investment trust paid TheoPacific Corporation $19.5 million for the City of Industry property, according to the Los Angeles Business Journal. The 149,000-square-foot warehouse is located at 14421-14441 Bonelli Street.

The warehouse, which is fully leased, is on a six-acre site and has 16 dock positions.

In a statement, Rexford said it could renew the lease with the current tenant or look for a new tenant at a higher rate, given the current rents are below market-rate. The building is designed for two tenants.

The Gardena properties are located at 311-329 E. 157th Street and were sold to owner-occupants.

Rexford’s biggest purchase of 2018 was a 36-acre distribution center in Commerce the firm paid $121 million for in May. In July, Rexford picked up a San Fernando Valley warehouse for $22.5 million. Then in November it spent $40.3 million for two properties in Carson and Carlsbad. [LABJ] — Dennis Lynch


Related Articles

arrow_forward_ios
LA promo

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

The project site (Credit: Google Maps)

New venture Staley Point Capital plans self-storage facility in LA Opportunity Zone

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

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

3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

From left: Nuveen CEO Vijay Advani, Graymark founder/CEO Brian Hecktman

Graymark, Nuveen pay $97M for El Segundo creative office

La Mirada industrial building

Clarion pays $77M for La Mirada industrial project

arrow_forward_ios
Loading...