Rexford Industrial Realty, a U.S. industrial real estate investment firm, has acquired five properties that total 434,000 square feet in Greater Los Angeles, southern California (Calif) for $73.2 million from undisclosed sellers.
In Los Angeles’ Sun Valley neighborhood, the company bought a fully leased three-property industrial portfolio, totaling 207,374-square-foot, for $35.1 million in an off-market transaction.
Rexford further purchased 15650-15700 S. Avalon Blvd. in Los Angeles for $28.1 million in another off-market move. It plans to upgrade the 166,088 square feet asset on a 7.24-acre plot as a class A single-tenant industrial property.
Lastly, the company also acquired the newly built and vacant 15850 Slover Ave. on 2.79 acres in Fontana, some 50 miles east of Los Angeles, for $10 million. It bought the 60,127 square feet property in a lightly marketed deal.