{"id":1004204943,"date":"2018-01-30T03:17:57","date_gmt":"2018-01-30T11:17:57","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004204943"},"modified":"2022-12-08T12:25:22","modified_gmt":"2022-12-08T20:25:22","slug":"rexford-nabs-11m-inland-empire-industrial-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/rexford-nabs-11m-inland-empire-industrial-asset\/","title":{"rendered":"Rexford Nabs $11M Inland Empire Industrial Asset"},"content":{"rendered":"<p>By Jeff Hamann<\/p>\n<div id=\"attachment_1004204945\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/13971-Norton-Ave.-in-Chino-Calif..jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004204945\" data-attachment-id=\"1004204945\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/rexford-nabs-11m-inland-empire-industrial-asset\/13971-norton-ave-in-chino-calif\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/13971-Norton-Ave.-in-Chino-Calif..jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"13971 Norton Ave. in Chino, Calif.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;13971 Norton Ave. in Chino, Calif.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/13971-Norton-Ave.-in-Chino-Calif..jpg?w=800\" class=\"wp-image-1004204945 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/13971-Norton-Ave.-in-Chino-Calif..jpg\" alt=\"13971 Norton Ave. in Chino, Calif.\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/13971-Norton-Ave.-in-Chino-Calif..jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/13971-Norton-Ave.-in-Chino-Calif..jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/13971-Norton-Ave.-in-Chino-Calif..jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004204945\" class=\"wp-caption-text\">13971 Norton Ave. in Chino, Calif.<\/p><\/div>\n<p>Rexford Industrial Realty has acquired a single-tenant industrial property in Chino, Calif., for $11.4 million.\u00a0Rexford partially funded its purchase through the sale of a six-building, 88,016-square-foot property in Montclair, Calif.\u00a0<\/p>\n<p>The proceeds from the $11.4 million sale were recycled through a 1031 tax-deferred exchange and partially funded the company\u2019s acquisition in Chino. The transaction follows on the heels of the firm\u2019s five-building\u00a0<a href=\"https:\/\/www.commercialsearch.com\/news\/rexford-industrial-increases-socal-footprint\/\">industrial portfolio acquisition<\/a>\u00a0in Southern California earlier this year.<\/p>\n<h2>Well-situated\u00a0facilities<\/h2>\n<p>The Chino property, located at 13971 Norton Ave.,\u00a0encompasses 103,208 square feet and is situated on a 4.8-acre parcel. Constructed in 1990, the warehouse is fully leased to TuffStuff Fitness International, which uses the building as its headquarters. The structure features 16 truck well doors and seven drive-in doors, along with a secured truck court and covered loading.\u00a0<\/p>\n<p>Situated within one mile of Chino Valley Freeway, the property offers easy access throughout the region. According to Yardi Matrix, the previous owner of the asset, a private investor, acquired the building in 1998, for $1.6 million.<\/p>\n<p>Located at 5637 E. Arrow Highway and 8900-8980 N. Benson Ave. in Montclair, the property Rexford divested from\u00a0encompasses\u00a0\u00a0six buildings totaling 55 units, and includes both industrial and retail uses. The\u00a0facility sits just north of Interstate 10 and is home to a number of small tenants.<\/p>\n<p><em>\u201cThe 100 percent leased property we acquired provides an attractive initial cash return, with the longer term potential to raise substantially below-market in-place rents to higher-market rents upon re-leasing or re-tenanting,\u201d <\/em>said Howard Schwimmer and Michael Frankel, co-CEOs of Rexford, in prepared remarks.<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company partially funded its acquisition with the sale of a six-building industrial park located in the area for approximately the same price.<\/p>\n","protected":false},"author":861,"featured_media":1004204945,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,34027,21783,21742,15],"tags":[33536,35841,35842,35630],"class_list":["post-1004204943","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-inland-empire","category-investment","category-latest","category-west","tag-1031-exchange","tag-howard-schwimmer","tag-michael-frankel","tag-rexford-industrial-realty-inc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Rexford Nabs $11M Inland Empire Industrial Asset - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/rexford-nabs-11m-inland-empire-industrial-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rexford Nabs $11M Inland Empire Industrial Asset\" \/>\n<meta property=\"og:description\" content=\"The company partially funded its acquisition with the sale of a six-building industrial park located in the area for approximately the same price.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/rexford-nabs-11m-inland-empire-industrial-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-01-30T11:17:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T20:25:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/13971-Norton-Ave.-in-Chino-Calif..jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jeff Hamann\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rexford-nabs-11m-inland-empire-industrial-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/rexford-nabs-11m-inland-empire-industrial-asset\/\",\"name\":\"Rexford Nabs $11M Inland Empire Industrial Asset - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rexford-nabs-11m-inland-empire-industrial-asset\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rexford-nabs-11m-inland-empire-industrial-asset\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/13971-Norton-Ave.-in-Chino-Calif..jpg\",\"datePublished\":\"2018-01-30T11:17:57+00:00\",\"dateModified\":\"2022-12-08T20:25:22+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9dada606742ec2aa010683bdabf468f4\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rexford-nabs-11m-inland-empire-industrial-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/rexford-nabs-11m-inland-empire-industrial-asset\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rexford-nabs-11m-inland-empire-industrial-asset\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/13971-Norton-Ave.-in-Chino-Calif..jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/13971-Norton-Ave.-in-Chino-Calif..jpg\",\"width\":800,\"height\":620,\"caption\":\"13971 Norton Ave. in Chino, Calif.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rexford-nabs-11m-inland-empire-industrial-asset\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Rexford Nabs $11M Inland Empire Industrial Asset\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9dada606742ec2aa010683bdabf468f4\",\"name\":\"Jeff Hamann\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Jeff-Hamann.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Jeff-Hamann.jpg?w=96\",\"caption\":\"Jeff Hamann\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/jeffh\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Rexford Nabs $11M Inland Empire Industrial Asset - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/rexford-nabs-11m-inland-empire-industrial-asset\/","og_locale":"en_US","og_type":"article","og_title":"Rexford Nabs $11M Inland Empire Industrial Asset","og_description":"The company partially funded its acquisition with the sale of a six-building industrial park located in the area for approximately the same price.","og_url":"https:\/\/www.commercialsearch.com\/news\/rexford-nabs-11m-inland-empire-industrial-asset\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2018-01-30T11:17:57+00:00","article_modified_time":"2022-12-08T20:25:22+00:00","og_image":[{"width":800,"height":620,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/13971-Norton-Ave.-in-Chino-Calif..jpg","type":"image\/jpeg"}],"author":"Jeff Hamann","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/rexford-nabs-11m-inland-empire-industrial-asset\/","url":"https:\/\/www.commercialsearch.com\/news\/rexford-nabs-11m-inland-empire-industrial-asset\/","name":"Rexford Nabs $11M Inland Empire Industrial Asset - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/rexford-nabs-11m-inland-empire-industrial-asset\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/rexford-nabs-11m-inland-empire-industrial-asset\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/13971-Norton-Ave.-in-Chino-Calif..jpg","datePublished":"2018-01-30T11:17:57+00:00","dateModified":"2022-12-08T20:25:22+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9dada606742ec2aa010683bdabf468f4"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/rexford-nabs-11m-inland-empire-industrial-asset\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/rexford-nabs-11m-inland-empire-industrial-asset\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/rexford-nabs-11m-inland-empire-industrial-asset\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/13971-Norton-Ave.-in-Chino-Calif..jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/13971-Norton-Ave.-in-Chino-Calif..jpg","width":800,"height":620,"caption":"13971 Norton Ave. in Chino, Calif."},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/rexford-nabs-11m-inland-empire-industrial-asset\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Rexford Nabs $11M Inland Empire Industrial Asset"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9dada606742ec2aa010683bdabf468f4","name":"Jeff Hamann","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Jeff-Hamann.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Jeff-Hamann.jpg?w=96","caption":"Jeff Hamann"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/jeffh\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/13971-Norton-Ave.-in-Chino-Calif..jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004204943","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/861"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004204943"}],"version-history":[{"count":6,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004204943\/revisions"}],"predecessor-version":[{"id":1004205261,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004204943\/revisions\/1004205261"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004204945"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004204943"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004204943"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004204943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}