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REXFORD INDUSTRIAL ACQUIRES 81,282 SQUARE FOOT DISTRIBUTION WAREHOUSE, VAN NUYS,CA

Los Angeles – January 4, 2013 – Rexford Industrial has acquired an 81,282 square-foot distribution warehouse located at 15041 Calvert Street, Van Nuys, in Southern California’s San Fernando Valley. The property was purchased for $5,620,000 ($69.14 per square foot). 

Rexford purchased the property in an off-market transaction from a family trust. The property consists of a free standing industrial building totaling 81,282 square feet, with 4,000 square feet of office space, situated on 3.67 acres of land. It is 100% leased to Genie Air, one of the largest HVAC distributers in the Western U.S. The property is ideally located near Interstate 405 and U.S. Highway 101, within close proximity to the Van Nuys airport, a very dense infill industrial area of Southern California. 

“This acquisition demonstrates Rexford’s unique sourcing capabilities in Southern California’s industrial markets, through longstanding relationships within the real estate community. The property’s ideal location and low cost basis makes it a great addition to our portfolio,” said Howard Schwimmer, co-founder and senior managing partner of Rexford Industrial. 

Both the buyer and seller were represented by Todd Lorber and Chris Jackson of NAI Capital Commercial. 

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. 

 pdf01.04.13_Calvert_Press_Release.pdf

 

Rexford Industrial HIRES ShANNON LEWIS AS DIRECTOR OF LEASING AND ASSET MANAGEMENT

Los Angeles, CA – April 8, 2013 - Rexford Industrial, a leading Southern California focused industrial real estate investment  firm, announced today the hiring of Shannon Lewis as Director of Leasing and Asset Management. Lewis’s primary focus will be overseeing the leasing and management of Rexford’s 7.5 million square foot industrial property portfolio.

Lewis contributes over fifteen years of institutional industrial property experience. Prior to joining Rexford, Lewis served as Senior Leasing Manager of Douglas Emmett Management for seven years. Lewis previously served as Vice President of Asset Management for Kilroy Realty, responsible for leasing, asset and construction management of over 3 million square feet of industrial properties.  Ms. Lewis’s previous experience also includes serving as Senior Property Manager for Trammell Crow, where she managed over 2.5 million square feet of Industrial and R&D properties while involved in the firm’s acquisitions and development projects.

 “Shannon brings extensive industrial property and institutional asset management to Rexford.” said Howard Schwimmer, Rexford’s senior managing partner. “Her experience and deep industry relationships further solidifies Rexford’s team and growth platform.”

Lewis is a graduate of the University of California at Davis and holds a Bachelor of Science in Managerial Economics.

About Rexford Industrial

Rexford Industrial is a leading industrial real estate investment firm that acquires, manages and develops all classes of industrial properties located principally in Southern California, including core, value-add, repositioning and re-development. Rexford is now targeting the acquisition of 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’S PORTFOLIO GROWS 166,329 SF - ACQUIRES TWO SOUTHERN CALIFORNIA INDUSTRIAL COMPLEXES

Los Angeles – April 17, 2013 – Rexford Industrial has acquired two Southern California industrial properties, adding to its 7.5 million square foot Southern California industrial portfolio. A 78,183 square foot industrial complex located in Carson, California was purchased for $5,448,000 and an 88,146 square foot multi-tenant project located in Montclair, California was purchased for $7,150,000. Both properties were acquired in off-market transactions.

The Carson property is located at 18118-18120 S. Broadway Street, Carson, in the South Bay sub-market, one of the top performing industrial markets in the country and is within close proximity to both the Port of Los Angeles and the Port of Long Beach. It consists of five units, offers both ground-level and dock-high loading and is 100% leased.

The Montclair property is located at 8900-8980 Benson Avenue, Montclair, in the West Inland Empire sub-market on a high traffic street. It consists of six multi-tenant buildings and is currently 84% leased.

“Both projects have great rent upside potential,” said Howard Schwimmer, co-founder and senior managing partner of Rexford Industrial. “They are ideally located in their submarkets and offer significant opportunity to add value.”

Both buyer and seller of the Montclair property were represented by Frank Kosi of Sperry Commercial Real Estate. The Carson transaction was completed between buyer and seller without third party 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 Completes $9.8 Million San Diego Lease to National Soap Products Company, Dr. Bronner’s Magic Soaps

Los Angeles, CA, May 7, 2013 – Rexford Industrial, a real estate investment company specializing in Southern California industrial properties, recently completed a $9.8 million, 118,597 square foot lease for 1335 Park Center Drive in Vista, California to Dr. Bronner’s Magic Soaps, the number one selling natural brand of soap in North America. Dr. Bronner’s relocation from Escondido allows for both an expansion and modernization of its production capacity.

 “The North San Diego sub-market is finally experiencing an increase in demand, predominately for light manufacturing and warehouse buildings,” stated Howard Schwimmer, Rexford’s Senior Managing Partner. “This property is one of few buildings over 100,000 SF that was available in North County.”

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.

Dennis Visser and Barry Hendler of Cassidy Turley represented the landlord and Don Grant, also of Cassidy Turley, represented the tenant in the transaction.

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.

 

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