Rexford Industrial Realty is continuing to grow its holdings across Southern California. In one recent acquisition that closed last month but only recently recorded, the firm acquired a 65,400 square foot industrial property in Chino for $27.5 million, or about $420 per square foot. The property was sold by an entity linked to Ricky Martin, according to public property records.
The property is located at 13925 Benson Ave. and consists of two buildings on 6.6 acres. The property was built in the 1970s and is currently occupied by Amco Structures, a manufacturer of modular buildings, according to the company’s website.
The site is located within a primarily industrial portion of Chino, with neighbors including companies, like Litek Composites Corp., Bellzi, Spectra USA and various others. Nearby are State Routes 60, 71 and 83 as well.
Rexford Industrial Realty is an investment firm with a focus on acquiring industrial properties in Southern California. The company manages over 35 million square feet of industrial properties throughout Southern California valued at over $13 billion.
Over the last several quarters, Rexford Industrial has remained busy throughout Southern California. In April, the firm announced the acquisition of three industrial properties for a combined purchase price of $357.2 million. According to the announcement, the properties are located at 3520 Challenger St. in Torrance, 9000 Airport Blvd. in Los Angeles and 9223 and 9323 Balboa Ave. as well as 4285 Ponderosa Ave. in San Diego. The sites were purchased for $14.2 million, $143 million and $200 million, respectively.
