Rexford Industrial Scoops Another Property

LOS ANGELES-Rexford Industrial has acquired the Bonita Thompson Industrial Park, a 365,859-square-foot, two-building industrial property in Pomona, for $27.2 million.  The purchase brings the company’s California portfolio to 64 properties, totaling 7.3 million square feet of industrial space. Rexford funded the acquisition through an existing line of credit. 

“This particular asset was attractive because of great pricing, the fact that is has two tenants in place on long-term leases and, further, that the buildings are very flexible in terms of exiting or releasing options,” Michael Frankel, Rexford Industrial Co-CEO, tells GlobeSt.com. “They are two, separate freestanding buildings on separate parcels, and the buildings have further divisibility capability as well.”