Los AngelesRexford Industrial has acquired an eight-building industrial portfolio in the South Bay for $66.2 million. The property traded hands in an all-cash transaction.

The industrial portfolio is located in the South Bay and totals 267,000 square feet. Rexford plans to make enhancements to the property, creating an opportunity to drive rents to already high-quality industrial assets. Four of the buildings are single-tenant assets and four are two-tenant buildings.

Upgrades at the property will include fire sprinkler upgrades, modernization of offices and other functional enhancements in order to drive higher rental rates upon expiration of leases.

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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.