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Rexford Industrial Acquires Industrial Property For $18.2M

by benzinga.com posted 3months ago 26 views
LOS ANGELES, Dec. 14, 2018 /PRNewswire/ -- Rexford Industrial Realty, Inc. (the "Company" or "Rexford Industrial") (NYSE:REXR), a real estate investment trust focused on owning and operating industrial properties located in Southern California infill markets, today announced the acquisition of a multi-tenant industrial property for $18.2 million. The acquisition was funded using available cash on hand. "This acquisition demonstrates our ability to source accretive industrial property investments within Southern California's highly sought-after infill industrial market at prices significantly below replacement cost," stated Howard Schwimmer and Michael Frankel, Co-Chief Executive Officers of the Company. "Sheila Street is a fully-leased multi-tenant cold storage building located in a high-demand, supply constrained submarket.

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