Rexford Industrial is growing its holdings in Southern California. In one recent deal, the industrial investor acquired a nearly 87,000 square foot building in Ontario for $26.72 million, or about $307 per square foot. The property was sold by TA Realty.
Situated at 4422 Airport Dr., the industrial building spans 86,873 square feet. The building sits on nearly five acres and was developed in 1988. The site is located to the south of Interstate 10 and west of Interstate 15. To the north of the site is also the Ontario Mills Mall and the Toyota Arena.
Rexford Industrial Realty is a publicly traded industrial real estate investment and management company with more than 35 million square feet of industrial properties throughout Southern California with a value of more than $13 billion.
Rexford Industrial has been involved in a number of sales in recent months.
Earlier this year, the company announced its acquisition of approximately three million square feet of industrial space comprising 48 properties in Southern California. The properties were acquired for $1 billion, or $332 per square foot, in separate transactions from Blackstone Group.
In one transaction, Rexford Industrial paid $50 million, or approximately $411 per square foot, for a 121,615 square foot building in Fullerton. The property is located at 1500 E Walnut Ave. and features a two-story office space spanning over 6,234 square feet as well as 17 dock high doors and two grade level doors. There is also a secured yard area and 113 vehicle parking spaces.
