Rexford Industrial keeps up SoCal buying spree in 2019

The Westside firm has continued its pace of acquisitions after spending about $500M last year

Los Angeles /
Apr.April 22, 2019 03:00 PM
Rexford paid $84.5 million for four industrial assets in the LA area (Credit: Google Maps)

Rexford Industrial Properties continues to swallow up Southern California warehouse space.

Four new acquisitions totals 456,000 square feet for the Westside firm, according to REBusiness Online. The firm paid $84.5 million for the properties, according to the report.

The largest of the four is a 257,000-square-foot warehouse at 13890 E. Nelson Avenue in Industry. Rexford paid $41.8 million for the property. The selling entity leads back to Colony Capital’s Downtown L.A. office.

The other properties are south of L.A. County. They are: a 92,600-square-foot building in Orange fully leased to three tenants and purchased for $18 million; a 106,300-square-foot property in Carlsbad with 70 percent occupancy, and purchased for $16.8 million; and a 45,700-square-foot space in San Marcos, acquired for $7.9 million.

The industrial sector has performed well over the last few years, and it’s particularly strong in Southern California. The market plateaued somewhat at the end of last year, but strong demand from e-commerce, distribution businesses and the need for data centers is expected to boost activity this year, experts say.

Rexford has been one of the most active industrial investors in Southern California — last year it spent about half a billion dollars on more than a dozen industrial properties. It has not slowed its pace in 2019.

Earlier this month, Rexford paid $28.1 million for a 200,000-square-foot warehouse property near Downtown L.A. In January it paid $19.5 million for a warehouse in Industry.

The firm closed out 2018 with an acquisition and a sale, scooping an Industry warehouse for $19.5 million and selling off a Gardena warehouse to an owner-occupant. [REBusiness Online]Dennis Lynch 


Related Articles

arrow_forward_ios
Jamison Properties' Jaime Lee with the Pierce National Life Building (LinkedIn, Google maps)
Koreatown office building poised for residential conversion
Koreatown office building poised for residential conversion
The Home Depot's Ted Decker with 16830 Devonshire St
The Home Depot plans to build 136K sf store in Granada Hills
The Home Depot plans to build 136K sf store in Granada Hills
SteelWave's Barry DiRaimondo with 1382 Bell Avenue (LinkedIn, JLL)
SteelWave sells Tustin office building for $91M
SteelWave sells Tustin office building for $91M
Duke Realty's James Connor (Duke Realty, Getty, Google Maps)
Duke Realty shells out nearly $100M for empty land in the Inland Empire
Duke Realty shells out nearly $100M for empty land in the Inland Empire
Restaurant owner Tony Roman and Basilico’s Pasta E Vino, 21501 Brookhurst Street in Huntington Beach (Basilico’s Pasta E Vino/Facebook, Google Maps, Getty)
Anti-mask restaurateur in OC sues landlord
Anti-mask restaurateur in OC sues landlord
Cottonwood’s Mark Green and Silver Creek's Franck Ruimy with 8850 Sunset Blvd (8850 Sunset Blvd , LinkedIn, Stan Hope Capitol, Getty)
Reimagined Viper Room’s developer scores $60M loan
Reimagined Viper Room’s developer scores $60M loan
Lithia Motors' Mark DeBoer and rendering of new Porsche dealership (City of Los Angeles, Getty, LinikedIn)
Going up: Lithia Motors plans five-story Porsche dealership near DTLA
Going up: Lithia Motors plans five-story Porsche dealership near DTLA
Sprouts Farmers Market ceo Jack Sinclair with 1829 E. Orangethorpe in Fullerton (Sprouts, Google Maps, Getty)
Sprouts bags largest OC lease this year with 337K sf warehouse
Sprouts bags largest OC lease this year with 337K sf warehouse
arrow_forward_ios

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

Loading...