BURBANK, CA-Rexford Industrial of Los Angeles has signed tenants to 12 new leases in Southern California totaling more than 120,000 square feet and valued at approximately $5 million. Among the notable new leases was a 10-year lease here at 901 W. Alameda, where Peermusic III Ltd. has signed for 10,952 square feet.

Peermusic is an independent music publisher with a 300,000-song-title catalog and offices in 35 countries. Rexford was represented by Christopher Bear and Branden Moll of Ramsey Shilling Co., with Brad Feld and Chris Keller of Madison Partners representing the tenant.

In Carlsbad, Santos Research Laboratories has signed a 39-month lease for 7,204 square feet at 2453 Impala Dr. Santos, which will be utilizing the space for office and warehouse for the research and development of pharmaceuticals, was represented by Matty Sundberg of Cassidy Turley BRE Commercial. Rexford was represented by Adam Molnar and Bob Willingham of Coldwell Banker Commercial.

In Riverside, Flexsteel Industries, a national manufacturer of residential, commercial, and vehicle seats, signed a 15-month lease for 33,258 square feet at 6780 Central Ave. Flexsteel was represented by Mark Piscitelli of Grubb & Ellis, with Paul Whitehouse representing Rexford.

In the City of Industry, Sumdex Inc., a manufacturer of computer laptop, digital camera, PDA, backpack hard-side, entertainment, and traveling accessories, signed a 39-month lease for 11,757 square feet at 15329 Don Julian Blvd. Sumdex was represented by Kevin Herron of CB Richard Ellis, with Chris Tolles of Cushman and Wakefield representing Rexford.

Commenting on the leases, Rexford managing partner Michael Frankel says, “Rexford’s aggressive approach to leasing is demonstrated by the substantial amount of leasing we have accomplished in the past 18 months." The company has leased approximately 1.56 million square feet of space during that time, including more than 508,000 square feet leased year-to-date, Frankel says. Approximately 53% of Rexford’s leasing activity represents newly acquired tenants, while 47% represents existing tenant renewals.

Howard Schwimmer, Rexford’s co-founder and senior managing partner, says that although rental rates are generally down compared to two or three years ago, the company "continues to position the portfolio to maximize cash flow through the trough of the downturn, with the option to roll rents and increase cash flows as the economy recovers.”