• hm2013_01.jpg
  • hm2013_02.jpg
  • hm2013_03.jpg
  • hm2013_04.jpg
  • hm2013_05.jpg

REXFORD INDUSTRIAL ACQUIRES HIGH-QUALITY BUILDING IN THE EXCLUSIVE CARLSBAD RESEARCH CENTER

Carlsbad, CA – June 19, 2007
Rexford Industrial, LLC, Southern California’s leading, privately held industrial real estate firm, has acquired a two story, 71,536-square-foot building with 17,000 square feet of mezzanine office, located at 5803 Newton Drive in Carlsbad, CA, for approximately $10.58 million.

The building, which sits on 4.45 acres of land, is 46.3% leased to Dragon Optical and Interior Specialist. Built in 1997/1999, the site boasts high quality concrete tilt-up construction with two dock-high and two ground level loading doors. The building also boasts professional landscaping, abundant parking for 191 cars, and prominent street frontage and visibility.

“Given the building’s reputation, visibility and close proximity to the McClellan Palomar Airport and major interstates, this acquisition provided us with an excellent opportunity to purchase a high-quality building in an established in-fill market,” says Howard Schwimmer, managing member and partner at Rexford.

Rexford will apply its proven, unique approach to value creation by demising and repositioning the building to better utilize the space through conversion into four smaller highly functional spaces. The company plans to invest $1.2 million in capital improvements to the property.

Both the seller, Carmel Oaks Properties, and Rexford Industrial were represented by Reeder and Kent Moore of Grubb & Ellis/BRE Commercial in the transaction.

About Rexford Industrial
Rexford Industrial LLC (www.rexfordindustrial.com) is a leading industrial real estate firm in Southern California. A well-capitalized private investment company, Rexford invests in all classes and every category of industrial properties. The company combines a uniquely creative, entrepreneurial approach to value creation with a conservative, risk-averse approach to investing that is designed to perform well during all phases of the real estate cycle. Rexford offers brokers unique investment incentives and capitalizes upon an exceptional network of loyal relationships in the industry. With a current portfolio of nearly five million square feet valued at more than $600 million, Rexford is targeting substantial growth through further acquisitions of industrial property. The firm is based in Los Angeles.

 

REXFORD INDUSTRIAL COMPLETES $2 MILLION RENOVATION OF INDUSTRIAL/OFFICE BUILDINGS IN CARLSBAD

Refurbished Property Now Ready for Lease


Carlsbad, CA, July 2, 2007
Rexford Industrial, LLC, Southern California’s leading, privately held industrial real estate firm, has completed a $2 million renovation of its properties at 6200 and 6300 Yarrow Drive in Carlsbad, CA, which total 149,600 square feet of industrial/office space.

The Yarrow Drive property is owned by Rexford Industrial Fund III (RIF III), which launched with $61 million in equity capital in 2005 and has acquired 12 properties comprising more than 1.5 million square feet of value-add industrial space.

The buildings are situated one block off of Palomar Airport Road in the Carlsbad submarket of San Diego, an area which is widely regarded as the strongest submarket in North San Diego County. “Yarrow Drive is a premier site for investment, as it represents a tremendous opportunity for Rexford to create and add value,” said Howard Schwimmer, managing member and partner at Rexford. “We are excited about the potential for this repositioned property,” he added.

The extensive renovations included the demolition of a single-tenant building into two separate suites plus the addition of new offices, and the installation of a new elevator to service one of the two new suites. New stairwells, upgraded lighting and a new entrance to one of the suites were part of the modernization. The owners installed new, ADA-compliant restrooms and improved handicap access throughout the property. The landscaping was significantly upgraded, along with miscellaneous cosmetic upgrades that provide a better, higher-value image for the revamped property.

The leasing brokers for the property are Chuck McNary of Colliers International and Adam Molnar of Coldwell Banker Commercial Almar Group. Currently, 6200 Yarrow Drive is occupied by L&L Printing. 6300 Yarrow Drive, which has been vacant due to the renovation, now offers two suites for lease, one comprising 48,932-68,541 square feet of space, and the other comprising 21,986 square feet.

Rexford Industrial specializes in every type of industrial property in all asset classes, from warehouse, manufacturing and R&D to flex industrial, including single and multi-tenant projects. The company invests in every category of industrial property—core, value-add, repositioning and development.

About Rexford Industrial
Rexford Industrial LLC (www.rexfordindustrial.com) is a leading industrial real estate firm in Southern California. A well-capitalized private investment company, Rexford invests in all classes and every category of industrial properties. The company combines a uniquely creative, entrepreneurial approach to value creation with a conservative, risk-averse approach to investing that is designed to perform well during all phases of the real estate cycle. Rexford offers brokers unique investment incentives and capitalizes upon an exceptional network of loyal relationships in the industry. With a current portfolio of nearly five million square feet valued at more than $600 million, Rexford is targeting substantial growth through further acquisitions of industrial property. The firm is based in Los Angeles.

 

REXFORD INDUSTRIAL FUELS GROWTH WITH NEW APPOINTMENTS TO ITS SENIOR TEAM

Los Angeles, CA - October 1, 2007
Rexford Industrial, LLC, Southern California’s leading, privately-held industrial real estate firm, has appointed four highly qualified individuals to its expert team: Mark Hereford, Director of Operations; Carl M. Franklin, Director of Construction Management; Shanda Ross, Assistant Controller, Finance and Construction; and Cristina Flor as Property Manager.

The recent hires come on the heels of Rexford’s tremendous current growth. “Rexford is positioning itself to capitalize upon current changes in the market that are creating additional buying opportunities for Rexford’s value-driven industrial real estate investment program,” explained Michael Frankel, Chief Financial Officer and Partner, who has been responsible for managing Rexford’s corporate growth. “Efforts toward increasing, developing and improving our human capital represent a critical step in further extending the Rexford platform to capitalize on developing changes in the market,” he continued. “These efforts, combined with expansion of our acquisitions team and the work we’ve accomplished with our lenders to actually improve our financing capabilities, despite the turmoil in the debt markets, add to our competitive ability to achieve our growth objectives and to continue to exceed our investors’ and partners’ expectations. With an anticipated seven-to-eight new property acquisitions scheduled to close during September alone, we are pleased to welcome the high caliber of new hires that are joining the Rexford team,” Mr. Frankel concluded.

Mark Hereford, Director of Operations for Rexford Industrial, brings more than 30 years of commercial real estate management, leasing, development and construction management to Rexford. Mr. Hereford previously served as regional leasing manger for the Abbey Company in Long Beach, CA, as well as Vice President of Surf Management, a family-owned development company in Torrance, CA.

“With more than 30 years of senior level experience spanning nearly all facets of commercial real estate investment and development, Mr. Hereford is a tremendous asset to Rexford Industrial’s management team. We are pleased to welcome him to Rexford,” said Michael Frankel, CFO and Partner with Rexford. “Mr. Hereford’s proven background in asset management, leasing and construction management combine to ensure that we maximize the long-term value of Rexford’s industrial real estate portfolios. Further, he is already proving to be a great fit within our company,” he added.

Carl M. Franklin, Director of Construction Management for Rexford Industrial, was previously Vice President of Project and Development Services with Jones Lang LaSalle in Los Angeles, where he was responsible for value engineering more than $12 million in savings to the $160 million new campus project for Abbott Vascular in Temecula, CA. Prior to joining Jones Lang LaSalle, Mr. Franklin was a Senior Project Director at Cushman and Wakefield in Los Angeles. His earlier experience included serving as director of engineering for a division of Mitsubishi Chemical and as manager of facilities engineering for Baxter Healthcare.

“Carl Franklin brings strong leadership abilities and senior management experience to Rexford Industrial,” said Mr. Frankel. “He has proven himself to be a superb negotiator and problem solver with a comprehensive business perspective and a track record of designing and building complex facility projects. We are extremely pleased to welcome him to Rexford,” he added.

Shanda Ross, Assistant Controller, Finance and Development, will be responsible for implementing construction and development accounting, maintaining investor relations and overseeing lender and investor reporting covenants for Rexford Industrial. Previously, Ms. Ross served as senior development accountant and as assistant controller for Watt Genton Associates, LP, in Santa Monica, CA. Earlier, she was property accountant with the Macerich Company in Santa Monica, following a position as accountant with Dialog Incorporated in Cary, NC.

“Ms. Ross’ expertise and extensive experience in accounting and investor relations will contribute greatly to the management of the Rexford Industrial investment vehicles,” said Mr. Frankel. “We have great confidence in her capabilities for managing the complex finance and control requirements that support the successful acquisition, development, revitalization and repositioning of industrial properties,” he added.

Cristina Flor, Project Manager for Rexford Industrial, most recently served as commercial portfolio manager with Moss & Company in Sherman Oaks, CA. Earlier, she was commercial portfolio supervisor of operations and logistics director for Sunrise Property Management of Encino, CA.

“Christina Flor’s extensive experience in project management will be a tremendous asset to Rexford’s portfolios of multi-tenant industrial properties,” said Mr. Schwimmer.
About Rexford Industrial
Rexford Industrial LLC (www.rexfordindustrial.com) is a leading industrial real estate firm in Southern California. A well-capitalized private investment company, Rexford invests in all classes and every category of industrial properties. The company combines a uniquely creative, entrepreneurial approach to value creation with a conservative, risk-averse approach to investing that is designed to perform well during all phases of the real estate cycle. Rexford offers brokers unique investment incentives and capitalizes upon an exceptional network of loyal relationships in the industry. With a current portfolio of approximately five million square feet valued at more than $600 million, Rexford is targeting substantial growth through further acquisitions of industrial property. The firm is based in Los Angeles.
 

REXFORD INDUSTRIAL ACQUIRES $9.3 MILLION INDUSTRIAL BUILDING IN BURBANK, CA

Los Angeles, CA – October 4, 2007
Rexford Industrial, LLC, Southern California’s leading, privately held industrial real estate firm, has acquired a 42,500-square-foot industrial office/warehouse building, located at 901 West Alameda Avenue in Burbank, CA, for $9.3 million. Rexford intends to modernize and upgrade the building for use as creative office and media production space.

The building was built in 1969 as Martino’s Wholesale Bakery and is currently occupied by the seller, Captions, Inc., a film caption editing company. The property was purchased by RIF IV – Burbank, LLC for Rexford’s Industrial Fund IV (RIF IV), the fourth in a series of successful value-add industrial real estate funds managed by Rexford.

Chris Baer of Ramsey Schilling Co. and Kristen Bailey of NAI Capital represented both Rexford Industrial and the seller, Captions, Inc., in the transaction.

The freestanding building, offering substantial surface parking, has 20-foot ceilings, is divisible and is ideally positioned for studio/creative office and post-production users. “This property is in a high profile location – in Burbank’s media district,” said Rexford’s Managing Member and Partner, Howard Schwimmer. “It was an extremely advantageous deal in a very tight market for creative industrial space,” he added.

Rexford Industrial specializes in every type of industrial property in all asset classes, from warehouse, R&D and flex to bulk industrial, including single and multi-tenant projects. The company invests in every category of industrial property—core, value-add, repositioning and development.


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 approximately five million square feet valued at more than $600 million, Rexford Industrial currently targets $375 million of additional industrial property acquisitions. The firm is based in Los Angeles.

 

Page 4 of 10

<< Start < Prev 1 2 3 4 5 6 7 8 9 10 Next > End >>