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REXFORD INDUSTRIAL COMPLETES LEASE EXPANSION OF J.R. SIMPLOT FACILITY IN FULLERTON, CA

Los Angeles, CA May 21, 2013 – Rexford Industrial, a real estate investment company specializing in Southern California industrial properties, recently completed a 17,564 square foot lease expansion of its property located at 2320 East Walnut Avenue in Fullerton, California to J.R. Simplot Company, one of the largest privately held food and agribusiness companies in the United States. This new lease will expand J.R. Simplot’s Southern California operations, adding 5,976 square feet to its current 11,588 square foot facility.

“North Orange County industrial space continues to be in high demand. And this market has one of the lowest vacancy rates in Southern California,” stated Howard Schwimmer, Rexford’s Senior Managing Partner. “This is one of the few multi-tenant properties in the area that offers both ground-level and dock-high loading in each unit.”

Rexford operates more than 7.5 million square feet of industrial properties within the Southern California region, including single and multi-tenant warehouse & distribution centers and light manufacturing facilities.

Both landlord and tenant completed the transaction without representation.

About Rexford Industrial

Rexford Industrial is a leading industrial real estate investment firm that acquires, manages and develops all classes of industrial properties located in Southern California, including core, value-add, repositioning and re-development. Rexford is now acquiring more than $500 million of industrial property with its proprietary industrial funds, including Rexford Industrial Fund V REIT. Rexford accomplishes this through its creative and entrepreneurial approach to value creation combined with a conservative, risk-averse investment strategy that is designed to perform well during all phases of the real estate cycle.

For additional information, visit www.rexfordindustrial.com.

 

REXFORD INDUSTRIAL ACQUIRES THREE INDUSTRIAL PROPERTIES TOTALING $33 MILLION

Company on Track to Invest $375 Million in Acquisitions This Year

Los Angeles, CA, April 18, 2007
Rexford Industrial, LLC, Southern California’s leading, privately-held industrial real estate firm, has acquired three industrial properties in California and Nevada with an aggregate value of more than $33 million, announced Howard Schwimmer, managing member with the firm. The three purchases are in line with the company’s aggressive plan to purchase $375 million dollars of industrial properties, representing approximately three million more square feet in 2007.

“Each of these properties has its own unique investment potential underscoring Rexford’s ability to capture diverse opportunities and create value in all sectors of the industrial market – from value-added to stabilized core assets,” commented Mr. Schwimmer.

Las Vegas

Rexford expanded its portfolio of Class A industrial assets with the purchase of Silverado Business Park, a 165,000-square-foot multi-tenant industrial park located at 4114-4216 North Pecos Road in Las Vegas. Acquired from Silverado Eagle Industrial Park LLC for $18.9 million, the project is leased to high-credit tenants including Scholastic Books, Sherwin Williams and Mothers Cake & Cookie Co. Bill Palmer, Roman Benvenutti and Roman Rosario of The Palmer Team represented both Rexford and the seller in the transaction.

“The project represented an excellent opportunity to acquire a Class A industrial park in a premier location in North Las Vegas - one of the only remaining growth corridors in the Las Vegas area,” said Lee Segal, executive vice president of acquisitions with Rexford. North Las Vegas is quickly being built-out, with vacancies below five percent and little-to-no land available for new development.

Rancho Cucamonga

In Rancho Cucamonga, Calif., Rexford acquired a 62,677-square-foot multi-tenant business park located at 9375 Archibald Avenue from 9375 Associates, LP and Diversified Partners, Inc. Both the seller and Rexford were represented by Dennis Vacarro and Nick Coo of Faris Lee Investments. The site contains four multi-tenant concrete block industrial buildings totaling 33,000 rentable square feet and three two-story wood frame office buildings totaling 29,677 square feet on two land parcels totaling 4.99 acres. The transaction is valued at approximately $7.3 million.

“Rexford was able to secure this well-located infill property at below-replacement cost, making it a prime opportunity for value creation,” said Mr. Schwimmer. Rexford’s business plan for the property includes cosmetic upgrades to the office structures, as well as general clean up and landscaping upgrades, selectively replacing tenancies and moving rents to market levels.

South Bay

Demonstrating the firm’s ability to close transactions in record time, Rexford acquired a group of buildings in the much-desired South Bay submarket for $7.5 million from private seller Anthony Stauffer and The Sebits Living Trust U.D.T. “In this case, Rexford opened a six-day escrow five days after learning that the property was available. The escrow and transaction closed within six days,” said Michael Frankel, chief financial officer and principal with Rexford.

Totaling approximately 70,000 square feet, the buildings are located at 2708 Seaboard & 6010 Paramount Boulevard in Long Beach, Calif.; and 639 and 641 Walnut Street in Carson, Calif. Together, they present opportunities for value-creation and rent growth, including condominium sales or individual building sales. Brokers Jeff Smart of Grubb & Ellis and Michael Moore & Scott Schumacher of CB Richard Ellis represented both Rexford and the seller in the transaction.

About Rexford Industrial
Rexford Industrial LLC is a leading industrial real estate firm in Southern California. With deep capitalization and streamlined processes, Rexford Industrial invests in growth opportunities in all classes and every category of industrial properties. Rexford offers brokers unique investment incentives and has built a powerful network of loyal relationships in the industry. With a current portfolio of 4.7 million square feet valued at more than $500 million, Rexford Industrial’s aggressive growth strategy is to purchase $375 million dollars of industrial properties, representing approximately three million square feet in 2007. The firm is based in Los Angeles with offices in Orange County and San Diego.

 

REXFORD INDUSTRIAL ACQUIRES 473,345 SF INDUSTRIAL COMPLEX, GLENDALE, CA

Tenants Include Staples, Anderson Printing, Nordstrom and Pep Boys

Los Angeles – April 24, 2013 – Rexford Industrial has acquired a 473,345 square foot, institutional quality industrial complex in Glendale, California. The property was purchased from a non-disclosed institutional owner in a $56,200,000 transaction.

The seven-building industrial complex spans 21 acres and is located at 3332-3424 North San Fernando Road & 3550 Tyburn Street, Los Angeles (“Glendale PO”). The property is centrally located in Southern California’s San Fernando Valley, with convenient access to Interstate 5, in close proximity to Burbank and downtown Los Angeles.

The high quality property is comprised of single and multi-tenant industrial buildings, including two retail frontage buildings. The project is 100% leased to 27 tenants, with major tenants including Staples, Anderson Printing, Nordstrom and Pep Boys.

“This is one of the best industrial parks serving the high demand Glendale/Burbank market area and has consistently demonstrated strong occupancy, “said Howard Schwimmer, co-founder and Senior Managing Partner of Rexford Industrial. “The project contains tenant spaces ranging from 3,000 to 50,000 SF offering high ceiling clearance and dock-high loading; both are a rare commodity in this market”.

“This well-located, institutional quality industrial complex demonstrates our strategy of investing in highly-sought-after infill Southern California locations,” said Michael Frankel, Rexford’s Managing Partner. “These buildings are of superior quality and contain a diverse tenant mix.”

Both the buyer and seller were represented by Steve Silk, Jay Borzi and Adam Pastor of Eastdil Secured.

About Rexford Industrial

Rexford Industrial is a leading industrial real estate investment firm that acquires, manages and develops all classes of industrial properties located in Southern California, including core, value-add, repositioning and re-development. Rexford is now acquiring more than $500 million of industrial property with its proprietary industrial funds, including Rexford Industrial Fund V REIT. Rexford accomplishes this through its creative and entrepreneurial approach to value creation combined with a conservative, risk-averse investment strategy that is designed to perform well during all phases of the real estate cycle.

For additional information, visit www.rexfordindustrial.com.

 

REXFORD INDUSTRIAL ACQUIRES 125,514 SQUARE FOOT, CLASS-A INDUSTRIAL COMPLEX IN OXNARD, CA

Los Angeles – December 21, 2012 – Rexford Industrial has acquired a 125,514 square-foot multi-tenant industrial park located at 701 Del Norte Boulevard, just off U.S. Highway 101 in Southern California. The property was purchased for $9,500,000 or $75 per square foot.

Built in 2000, the Class-A property offers a wide range of tenant uses and functionality including both dock high and ground level loading, as well as flexible unit sizes – ranging from 1,755 to 9,358 square feet. It is currently 95% leased, with a mix of tenants ranging from light manufacturing to services and distribution.

“Not only is this property ideally located along a major commercial thoroughfare, it offers the flexibility to accommodate such a wide variety of uses. Furthermore, there is a significant opportunity to add value and improve returns,” said Howard Schwimmer, co-founder and senior managing partner of Rexford Industrial.

The seller was represented by Paul Farry and Mark Perry of CBRE. The seller had acquired the property via foreclosure in 2001, and instead of refinancing the mortgage, decided to lightly market the property to selective buyers.

About Rexford Industrial

Rexford Industrial is a leading industrial real estate investment firm that acquires, manages and develops all classes of industrial properties located in Southern California, including core, value-add, repositioning and re-development. It is now acquiring more than $500 million of industrial property with its proprietary industrial funds, including Rexford Industrial Fund V REIT. Rexford accomplishes this through its creative and entrepreneurial approach to value creation combined with a conservative, risk-averse investment strategy that is designed to perform well during all phases of the real estate cycle. For additional information, visit www.rexfordindustrial.com.

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