Rexford Industrial has acquired a 276,585-square-foot industrial facility in an off-market transaction for $34 million. The property is a fully occupied, multi-tenant industrial building located at 12752 to 12822 Monarch Street in Garden Grove, CA.

Built in 1971, the property is on 11 acres and features clear heights of 18 and 22 feet, 346 parking spaces, 14 dock-high spaces, and 11 ground-level doors.

NKF's Co-Head of U.S. Capital Markets Kevin Shannon, senior managing director Scott Schumacher, and executive managing directors Ken White, Jeff Read and Bret Hardy represented the seller, Penwood Real Estate and Western Realco. The buyer Rexford Industrial was self-represented.

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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.