{"id":1004211019,"date":"2018-03-22T07:26:14","date_gmt":"2018-03-22T15:26:14","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004211019"},"modified":"2022-12-08T17:25:23","modified_gmt":"2022-12-09T01:25:23","slug":"rexford-industrial-buys-115-ksf-facility","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/rexford-industrial-buys-115-ksf-facility\/","title":{"rendered":"Rexford Industrial Buys 115 KSF Facility"},"content":{"rendered":"<p>By Evelyn Jozsa<\/p>\n<div id=\"attachment_1004211020\" style=\"width: 362px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/16010-Shoemaker-Ave.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004211020\" data-attachment-id=\"1004211020\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/rexford-industrial-buys-115-ksf-facility\/16010-shoemaker-ave\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/16010-Shoemaker-Ave.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=\"16010 Shoemaker Ave., Cerritos, Calif.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;16010 Shoemaker Ave., Cerritos, Calif.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/16010-Shoemaker-Ave.jpg?w=800\" class=\"wp-image-1004211020 \" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/16010-Shoemaker-Ave.jpg\" alt=\"16010 Shoemaker Ave., Cerritos, Calif.\" width=\"352\" height=\"260\" \/><\/a><p id=\"caption-attachment-1004211020\" class=\"wp-caption-text\">16010 Shoemaker Ave., Cerritos, Calif.<\/p><\/div>\n<p>Rexford Industrial Realty has purchased a 115,600-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/daum-closes-200-ksf-ca-industrial-lease\/\">industrial facility in Cerritos<\/a>, Calif., for $17.2 million, which equates to $149 per square foot. The acquisition was funded through a combination of cash on hand and draws on the company\u2019s line of credit.<\/p>\n<p>The\u00a0asset is fully leased to a packaging supply firm, Silver Spur Corp. Located at 16010 Shoemaker Ave., the\u00a0building is surrounded by major thoroughfares, including Interstate 5 and Artesia Freeway. Downtown Los Angeles is situated within roughly 25 minutes of the property.<\/p>\n<p>Built in 1985, the\u00a0facility\u00a0sits on 4.4 acres and is equipped with a dock leveler, dock bumpers, truck court and loading doors. The buyer plans to improve the building and its functional characteristics.<\/p>\n<p><em>&#8220;This property provides immediate cash flow and is ideally located in the desirable and low-vacancy Mid Counties submarket,&#8221;<\/em> said Howard Schwimmer and Michael Frankel, co-CEOs of Rexford Industrial, in prepared remarks.<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company shelled out $17.2 million or $149 per square foot for a single-tenant industrial property located in Cerritos, Calif.<\/p>\n","protected":false},"author":871,"featured_media":1004211020,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,1594,21742,15],"tags":[35841,35842,35630],"class_list":["post-1004211019","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-los-angeles","category-latest","category-west","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) - 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