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Rexford Industrial Acquires One OC Property and Sells Another

Rexford Industrial Acquires One OC Property and Sells Another

Rexford Industrial Realty recently announced the acquisition of two properties in December, totaling $69.5 million, and the sale of a third property for $11.3 million. The largest transaction was the purchase of 600-708 E. Vermont Ave., located in Anaheim, for $57 million.

After a short-term leaseback period, Rexford plans to redevelop the 12.1-acre site into a Class A building with 264,000 square feet that can be divided into multiple units. This value-add investment is expected to yield an unlevered stabilized cash return of 6.7%. In addition to this project in Orange County, Rexford also sold a multi-tenant property at 3720-3750 W.Warner Ave.in Santa Ana.

In its home county of Los Angeles,Rexford acquired another property through an off-market deal:11234 Rush St.in South El Monte for$12 .5million.The company intends to develop this vacant4 .7-acre landintoa102 ,000-square-footClassA industrialbuildingthatcanaccommodateupto four tenants.This strategic move further expands Rexford’s presence and portfolio within Southern California’s thriving industrial market.

The news about these transactions was first reported by Connect CRE , highlighting Rexford Industrial Realty’s continued success as oneoftheleadingplayersintheindustrialrealestatemarket.Throughstrategicacquisitionsanddispositions,Rexfordinvestsinhigh-potentialpropertiesandmaximizestheirvalueforinvestorswhilecontributingtothegrowthoflocalcommunities.Withthese recent developments,RexfordsolidifiesitspositionasapowerhouseinSouthernCalifornia’scommercialreal estatemarket.

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