{"id":1004803162,"date":"2026-06-26T06:55:05","date_gmt":"2026-06-26T14:55:05","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004803162"},"modified":"2026-06-26T06:55:07","modified_gmt":"2026-06-26T14:55:07","slug":"la-office-to-industrial-redevelopment-moves-forward","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/la-office-to-industrial-redevelopment-moves-forward\/","title":{"rendered":"LA Office-to-Industrial Redevelopment Moves Forward"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a3ebb741f547&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"480\" data-attachment-id=\"1004803163\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/la-office-to-industrial-redevelopment-moves-forward\/dermody-rexford\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/06\/Dermody-Rexford.jpg\" data-orig-size=\"640,480\" 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;0&quot;}\" data-image-title=\"Dermody-Rexford\" data-image-description=\"&lt;p&gt;Proprietary image obtained from Yardi Matrix&#8217;s database.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The former headquarters of Faraday Future encompassed 146,765 square feet across three buildings. Image courtesy of Yardi Matrix&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/06\/Dermody-Rexford.jpg?w=640\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/06\/Dermody-Rexford.jpg\" alt=\"Exterior shot of one of the buildings that made up the former headquarters of Faraday Future in Gardena, Calif.\" class=\"wp-image-1004803163\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/06\/Dermody-Rexford.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/06\/Dermody-Rexford.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The former headquarters of Faraday Future encompassed 146,765 square feet across two buildings. <em>Image courtesy of Yardi Matrix<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Dermody has acquired a 146,765-square-foot office campus in Gardena, Calif., planning to redevelop it into a 180,705-square-foot industrial facility dubbed LogistiCenter at 110. Rexford Industrial sold the asset for $34.9 million, according to Yardi Matrix.<\/p>\n\n\n\n<p>The campus used to serve as Faraday Future\u2019s headquarters, an EV company that sold it in a sale-leaseback to Atlas Capital Group in 2019. Rexford Industrial later acquired the asset as part of a larger, five-property deal totaling $170 million in 2022.<\/p>\n\n\n\n<p>Construction works are already underway, with completion slated for the second quarter of 2027. Upon delivery, the new warehouse will feature a clear height of 36 feet, 21 dock doors and a two-story office component. The facility, catering to e-commerce and distribution tenants, is targeting LEED certification.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/top-projects-that-will-reshape-los-angeles\/\">Construction Projects in Los Angeles<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Located at 18455 Figueroa St., the property is in Los Angeles\u2019 South Bay submarket. The area is one of the leading logistics hubs in the nation on account of its proximity to the Port of Los Angeles and connectivity to regional freight networks, according to prepared remarks by Dermody CIO Tim Walsh.<\/p>\n\n\n\n<p>Since its inception, Dermody has acquired and developed more than 110 million square feet of logistics facilities, currently having more than $7.8 billion in assets under management. Its California portfolio includes the 1.1 million-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/dermody-buys-1-1-msf-industrial-asset-in-central-valley\/\">Building 1 at the Tripoint Logistics Center<\/a>, acquired last year for $145.2 million last year, Yardi Matrix shows.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-california-industrial-assets-continue-to-be-the-priciest\">California industrial assets continue to be the priciest<\/h2>\n\n\n\n<p>Los Angeles posted the third-highest price per square foot across industrial deals in April, according to a <a href=\"https:\/\/www.commercialsearch.com\/news\/industrial-report-energy-shock-shifts-site-selection\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Yardi Matrix report<\/a>. Assets sold for $279 per square foot on average, below Orange County ($299) and the Bay Area ($303). The U.S. average clocked in at $138 per square foot.<\/p>\n\n\n\n<p>One of the market&#8217;s priciest deals closed in January, when EQT acquired a warehouse from PepsiCo for $655 per square foot, Yardi Matrix data shows. The 78,639-square-foot property changed hands for $51.5 million. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The property used to serve as the headquarters of an EV company.<\/p>\n","protected":false},"author":3471,"featured_media":1004803163,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21748,21783,1594,21742,15],"tags":[51152,35630],"class_list":["post-1004803162","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-industrial","category-investment","category-los-angeles","category-latest","category-west","tag-dermody","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>LA Office-to-Industrial Redevelopment Moves Forward - 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