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Industrial Complex Trades for $30M

LOS ANGELES—Rexford Industrial purchases the 319,000-square-foot industrial complex in an all-cash transaction, bringing the REIT's year-to-date acquisition volume to $260 million.

By Kelsi Maree Borland | Updated on September 17, 2014

LOS ANGELES—Rexford Industrial has acquired a 319, 348-square-foot industrial complex from an unnamed buyer for $30.5 million in an all-cash transaction. The sales price equates to $96 per square foot. This purchased brings the industrial REIT‘s year-to-date acquisition volume to $260 million.

Located at 9120 Mason Ave. in Chatsworth, CA, the property in 100% leased to two tenants. According to Rexford Industrial co-CEOs Howard Schwimmer and Michael Frankel, the property’s strong tenancy and releasing possibilities helped to attract them to the property. The property is fully leased through 2020, and can support one to three tenants, which will ease the releasing process and maximize rents over time.

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