Rexford fills holiday basket with another warehouse portfolio

Industrial giant pays $94M for 464K sf in Vernon

Los Angeles /
Dec.December 23, 2020 08:55 AM
Rexford’s Howard Schwimmer and Michael S. Frankel with 2034-2040 East 27th Street (Google Maps)
Rexford’s Howard Schwimmer and Michael S. Frankel with 2034-2040 East 27th Street (Google Maps)

Rexford Industrial Realty is filling out its holiday shopping list with a flurry of warehouse purchases.

In the latest, the industrial giant paid $93.8 million for a six-building warehouse portfolio in Vernon and $16.8 million for an outdoor storage yard in Santa Fe Springs, according to the Los Angeles Business Journal. Both were all-cash deals.

The purchases come a couple of weeks after the firm paid $129.4 million for four properties in the Inland Empire that total 632,000 square feet.

Brentwood-based Rexford’s acquisition in Vernon totals 464,000 square feet of buildings across 21 acres. The properties are: 1921-1931 East 27th Street (35,000 square feet); 2011-2025 East 27th Street (40,400 sf); 2031-2099 East 27th Street (98,300 sf); 2034-2040 East 27th Street (126,500 sf) 2750 South Alameda Street (63,300 sf); and 2800-2840 South Alameda Street.

The deal was the biggest in the Vernon submarket this year, according to Commercial Observer. The seller was Gautier Land Company. DAUM Commercial Real Estate Services represented Gautier in the deal.

Developed last year, the five-acre Santa Fe Springs location is located at 12211 Greenstone Avenue, according to the Business Journal.

Rexford has gobbled up about $1 billion in warehouse space in 2020, about what it spent last year. [LABJ, CO] — Alexi Friedman


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