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Rexford Industrial Increases LA Portfolio with $106M Buy

Rexford states it intends to demise a vacant 98,218 square foot building into two units in order to increase value.

Last year, Rexford Industrial purchased a 49,585-square-foot value-add property in the Conejo Valley northwest of Los Angeles for $133-per-square-foot, one of the highest per-square-foot prices in the market. Last year, Rexford Industrial purchased a 49,585-square-foot value-add property in the Conejo Valley northwest of Los Angeles for $133-per-square-foot, one of the highest per-square-foot prices in the market.

THOUSAND OAKS, CA—Rexford Industrial Realty Inc. has acquired the Conejo Spectrum Business Park in Thousand Oaks, CA for $106.3 million in cash or $200-a-square-foot in an off-market transaction.

The 531,378-square-foot industrial park was 72% leased at the time of sale to a range of credit tenants and consists of nine industrial buildings on 28.05 acres of land.

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John Jordan

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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