Rexford Industrial Realty Acquires Seven Properties for $661M in Southern California

By: Sharjeel Sohaib

• 

Jul 28, 2022

 • 

rexford industrial realty

Utilize Our Platform

Rexford Industrial Realty, Inc., a real estate investment trust specializing in generating value by purchasing and managing industrial buildings, announced the purchase of seven industrial properties for a total of $660.9 million on July 19.

Key Takeaway:

  • Rexford Industrial Realty is again on the move in Southern California. The company has just acquired seven industrial properties—with a net leased value of $661 million.

We Covered this in our Weekly Wire Roundup

Rexford Industrial Realty: Reinventing Southern California Industrial Property

Rexford Industrial is the fourth largest industrial market in the world, creating value by investing in, operating, and refurbishing industrial real estate throughout Southern California, the consistently highest demand and lowest supply market in the United States. 

Acquisitions of Rexford Industrial Realty

Archibald Avenue and Limonite Avenue

A six-building industrial complex for $470.0 million at 6221 and 6251 Archibald Avenue and 14301, 14319, 14337, and 14326 Limonite Avenue in Eastvale, part of the Inland Empire – West submarket. The 1,057,419 square foot recently built industrial complex, which is located on 49.7 acres, is 71% leased and has buildings ranging in size from 48,315 square feet to 501,649 square feet, with minimum clear heights of 30 to 40 feet. This is anticipated to improve over time by contractual yearly increments of 4.0 percent and higher, leading to an unlevered stable cash return on the total investment of 4.0 percent.

Etiwanda Avenue in Jurupa Valley

In the Inland Empire – West submarket, 4325 Etiwanda Avenue in Jurupa Valley was acquired in an off-market deal for $47.5 million, or $382 per square foot. A 4.5 percent unlevered stable cash return on the entire investment is expected from the transaction.

Heritage Oak Court in Simi Valley

Through an off-market deal, Heritage Oak Court in Simi Valley, part of the LA – Ventura County submarket, was purchased for $56.4 million, or $302 per square foot. The Class A 186,726 square foot two-tenant facility was acquired through a short-term sale leaseback. The initial unlevered cash return of 3.4 percent is anticipated to increase to an unlevered stable cash yield of 5.4 percent on the entire investment.

Torrance

In the LA – South Bay submarket, 3547-3555 Voyager Street, Torrance, was purchased in an off-market deal for $20.9 million, or $162 per square foot of the property. The investment yields an initial 3.0 percent cash return and is anticipated to increase to a total investment yield of 4.6 percent stable cash yield.

Rosecrans Avenue in Los Angeles’

400 W Rosecrans Avenue in Los Angeles’ LA-South Bay submarket is available for $8.5 million, or $193 per square foot of the property. On 1.0 acres, the empty 28,006-square-foot building is in the highly sought-after South Bay submarket. A 5.2 percent unlevered stable yield on the entire investment is expected from the investment.

Anaheim Street in Los Angeles

In the LA – South Bay submarket, 620 E Anaheim Street in Los Angeles is available for $17.1 million, or $495 per square foot. The empty 34,555 square-foot low-coverage structure is conveniently positioned next to the Los Angeles and Long Beach ports and has a sizable, safe yard. It is situated on around 2.0 acres. The investment expects a 4.3 percent stable yield on the entire investment.

Bandini Boulevard

The LA – Central submarket’s 6996 and 7044 Bandini Boulevard were purchased through an off-market deal worth $40.5 million, or $170 per square foot of the property. A 4.8 percent stable cash return on the entire investment is expected from the transaction.

CBRE’s Forecast for the Inland Empire

Startempire Wire reported the market outlook published by CBRE.

  • CBRE Group, an American commercial real estate services, and investment firm published earlier this month a report titled “2022 North America Industrial Big Box Review & Outlook”.
  • The report states that general retailers and wholesalers leased more big-box facilities than ever.

Wrap Up!

Rexford Industrial Realty has acquired some attractive real estate in the last few years. This conclusion strongly emphasizes the importance of this acquisition for Rexford Industrial Realty. The real estate market is massive in Southern California, and it holds significant importance for Rexford Industrial Realty. 

0 Comments

Submit a Comment

Connecting you with the best startups, people & events in the Inland Empire.

Support Startup News & Media!


Enjoying the startup news & media? Support us!

We have big plans, and we need your help!

Startempire Wire is a community of people working together to promote innovation, entrepreneurship, and investment in the Inland Empire. We provide resources and connect people with the startup culture.

We believe that the Inland Empire has all of the ingredients for success. This region just needs a platform to show the world what it can do – And this is exactly what Startempirewire.com is doing. Our goal is to act as a megaphone to connect the dots between the best startups, events, and people in the Inland Empire.

We have big plans, and we need your help! If you are passionate about creating a thriving local startup ecosystem, then we would like to invite you to join in contributing to the community by supporting us. You can do that by supporting us financially or by being an active contributor. In return, we will give you (depending on sponsorship level) free access to our content, other level based perks &  the opportunity to connect with a network of passionate people working to build a better future for all of us.

We cover the good and the bad of entrepreneurship, startups & business events; we do it with passion and purpose. If you like what we do, support us & please consider becoming a patron. Your support is essential for independent local startup media to survive & thrive.

You can make a regular one time donation to become a sponsor at any level, or you can choose to become a monthly or event sponsor.  Every little bit counts! Thank You

Verious B. Smith III

Founder, Startempire Wire

Related Articles

OASIS Challenge: Showcasing Innovation in Sustainability

OASIS Challenge: Showcasing Innovation in Sustainability

RIVERSIDE, CA – The Southern California OASIS™ Challenge Pitch Finals, a much-anticipated event in the sustainability sector, is set to take place, spotlighting six innovative Inland Empire companies. These finalists, vying for $100,000 in grants and invaluable...

Stay Up On Startempire News

Access Premium Content

Startempire Wire premium content access is free during the beta period of our  website.  Join during beta and get a grandfathered discount when we launch.

$5 for first month then $15 per month

Get Every Update

Would you like to receive Startempire Wire updates in your inbox? Subscribe below!

"*" indicates required fields

This field is for validation purposes and should be left unchanged.

Follow Us

Follow Startempire Wire on other social media channels.

0
My cart
Your cart is empty.

Looks like you haven't made a choice yet.