California-based real estate investment trust company Rexford Industrial Realty, Inc. has bought 1055 Sandhill Avenue, an infill industrial land site in Los Angeles (LA).
Located in Carson, within the Los Angeles South Bay submarket, the property comprises 158,000 square feet of vacant manufacturing buildings on 5.79 acres of land.
Rexford Industrial acquired 1055 Sandhill Avenue from an unidentified seller for a total purchase price of $14.5 million, or $57 per land square foot.
More so, the company plans to demolish the existing improvements and build a new, 32-foot clear 126,013 square foot single-tenant logistics building.