Rexford Pays $143M for Industrial in OC, LA County

Rexford Industrial Realty announced on Wednesday that it has recently acquired two properties in Orange and Los Angeles counties for a total of $143 million, while also selling three properties for a combined $27 million. In North Orange County, Rexford purchased a 278,572 square foot industrial building on a 12-acre site at 1901 E Rosslynn Ave. in Fullerton for $94.3 million. Additionally, they acquired a 134,542 square foot property at 16203-16233 Arrow Hwy. in Irwindale, LA – San Gabriel Valley submarket, for $48.5 million through an off-market transaction. This site includes four newly developed Class-A industrial buildings. Co-CEOs Michael Frankel and Howard Schwimmer highlighted these transactions as part of their disciplined approach to capital allocation, aimed at creating long-term value for stakeholders.

Source: ConnectCRE