LOS ANGELES—Rexford Industrial has added twomore properties to its industrial portfolio. Theindustrial REIT purchased the two facilities,located at 7900 Nelson Road and 679-691 S Anderson St. and totaling250,572 square feet, for $30.8 million in two separate off-markettransactions.


The Nelson Road facility is the larger of the two properties at203,082 square feet. Rexford purchased the property form anundisclosed seller for $24.3 million, or $120 per square foot. Theproperty is currently vacant, which has given Rexford theopportunity to reposition the property. Through this renovation, itplans to create a two-tenant facility with additional dock highloading doors. The property already features eight dock-highloading doors and 28- to 30-foot clear heights.


Rexford purchased the Anderson Road facility for $6.5 million or$135 per square foot. The property is in the arts district ofDowntown Los Angeles, and is 100% occupied. Rexford also plans toreposition this property to enhance the architectural elements andinfuse modern functional elements into the space. THe companydeclined to provide further comment about the transactions.


These two purchases bring Rexford Industrial's year-to-datepurchases to $300 million. The REIT focuses onSouthern California properties, and has been busy purchasing assetsthroughout the Los Angeles, Orange County and Inland Empiremarkets. Earlier this week, GlobeSt.com reported the companysold the Mission Oaks CorporateCenter to an unnamed private investor for $54.4million.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.