Rexford Industrial has continued its status as one of the most active industrial buyers in Southern California. In its latest round of purchases, the company has acquired five properties in local infill markets for $188.9 million, bringing its investment activity for the year to $420 million.

The five properties total 660,254 square feet on nearly 29 acres. As part of the transactions, Rexford purchased 2425-2535 E. 12th Street in Los Angeles for $93.6 million or $363 per square foot. The 257,976-square-foot property is on 7.5 acres of land adjacent to the Arts District in Downtown Los Angeles, and it is 96% leased to 11 tenants. The REIT expects the property to generate an initial stabilized unlevered yield of 4.9% on total investment.

19951 Mariner Avenue was acquired for $27.4 million or $307 per square foot. The 89,272-square-foot industrial building is on 4.2 acres, and it is fully leased by an occupant that utilizes the property as its corporate headquarters. Rexford expects to earn a initial stabilized unlevered yield on total investment is 5.3%.