{"id":1004358416,"date":"2019-10-07T23:11:22","date_gmt":"2019-10-08T07:11:22","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004358416"},"modified":"2019-10-07T23:11:22","modified_gmt":"2019-10-08T07:11:22","slug":"rexford-adds-3-industrial-properties-to-california-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/rexford-adds-3-industrial-properties-to-california-portfolio\/","title":{"rendered":"Rexford Adds 3 Industrial Properties to California Portfolio"},"content":{"rendered":"
\"\"<\/a>

Image via Pixabay<\/em><\/p><\/div>\n

Rexford Industrial has acquired three industrial properties in Southern California for $76 million, building on its recent investment streak<\/a> that has seen the firm purchase at least seven properties since September. In three separate all-cash deals, Rexford acquired Slauson Commerce Center, 2328 Teller Rd. and 750 W. Manville St., together totaling more than 500,000 square feet.<\/p>\n

In a release, the company, which has closed more than $765 million in investments so far this year, said the properties are located in \u201chigh-barrier, prime infill\u201d<\/em> locations of Southern California.<\/p>\n

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READ ALSO:<\/strong> Rexford Industrial Continues Southern California Expansion<\/a><\/p>\n

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Rexford purchased Slauson Commerce Center for $41.3 million from Prologis, who had owned the property since 2004. The 346,554-square-foot industrial facility is located on 10.5 acres at 6277 E. Slauson Ave. in Commerce, Calif. The Class B property was built in four phases between 1958 and 1976 and was completely renovated in 2010. The property is used as a warehouse and distribution center but also houses 17,500 square feet of office space, per Yardi Matrix data.<\/p>\n

The company also purchased 2328 Teller Rd. in Newbury Park, Calif., for $23.3 million from Sunbelt Investments. Located on 8.1 acres, the industrial flex Class B property was built in 1970 and comprises 127,430 square feet. The multi-tenant industrial building is currently 93.4 percent leased. And in the Compton neighborhood of Los Angeles, Rexford acquired 750 W. Manville St. in an off-market deal for $11.5 million. The 59,996-square-foot property was built in 1977 on 2.7 acres and is fully leased to a long-term, single tenant.<\/p>\n

California\u2019s industrial engine<\/strong><\/h2>\n

In Southern California, the Inland Empire has been a hot spot for industrial development in recent years. Last year, the region of Southern California hit a peak in new inventory<\/a> delivered to the market, with more than 22 million square feet of new industrial properties completed, according to a recent Yardi Matrix report. As of May 2019, more than 5 million square feet had been delivered in the Inland Empire, with an additional 17 million square feet in the pipeline.<\/p>\n","protected":false},"excerpt":{"rendered":"

In its latest acquisition push, the REIT spent $76 million for a set of facilities totaling 500,000 square feet.<\/p>\n","protected":false},"author":745,"featured_media":1004505603,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21748,1594,21742,15],"tags":[32956,35630,47327],"class_list":["post-1004358416","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-industrial","category-los-angeles","category-latest","category-west","tag-prologis","tag-rexford-industrial-realty-inc","tag-sunbelt-investments"],"acf":[],"yoast_head":"\nRexford Adds 3 Industrial Properties to California Portfolio - 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-adds-3-industrial-properties-to-california-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rexford Adds 3 Industrial Properties to California Portfolio\" \/>\n<meta property=\"og:description\" content=\"In its latest acquisition push, the REIT spent $76 million for a set of facilities totaling 500,000 square feet.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/rexford-adds-3-industrial-properties-to-california-portfolio\/\" \/>\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=\"2019-10-08T07:11:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/industrial-news-09.-Image-via-Pixabay.com_.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=\"Holly Dutton\" \/>\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-adds-3-industrial-properties-to-california-portfolio\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/rexford-adds-3-industrial-properties-to-california-portfolio\/\",\"name\":\"Rexford Adds 3 Industrial Properties to California Portfolio - 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