Rexford pays $94M for Arts District industrial park

4-building complex includes 261K sf

Los Angeles /
Jun.June 28, 2021 01:00 PM
The Box Yard property and Rexford Industrial co-CEOs Howard Schwimmer and Michael Frankel (Box Yard LA. Rexford Industrial)
The Box Yard property and Rexford Industrial co-CEOs Howard Schwimmer and Michael Frankel (Box Yard LA. Rexford Industrial)

One of Southern California’s biggest industrial investors is expanding its footprint in Los Angeles, where the sector continues to thrive.

Rexford Industrial Realty paid $94 million for a four-building industrial park in the Arts District.

Rexford acquired the 261,528-square-foot Box Yard property from Bridge Industrial. Newmark handled the sale and announced the deal on Monday.

The complex at 2445-2560 E. 12th Street is 94 percent leased to textile manufacturers and clothing retailers, including styling firm DailyLook and online clothing wholesaler 2NE1 Apparel.

Chicago-based Bridge bought the industrial park for $68 million from Atlas Capital Group in 2019, records show. Bridge recently signed five tenants to the building in the last six months.

The Arts District has had a flurry of investment activity and plans in the last few months. SteelWave paid $80 million for a creative office complex in May and Continuum Partners proposed a $2 billion mixed-use development with 1,500 residential units and a hotel.





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