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Rexford Industrial has acquired the Topaz Business Park, a six-building industrial park in Simi Valley, for $46.4 million from a private investor operating as 2280 LLC. At 242,101 square feet, the property is the largest industrial property to trade hands in the Simi Valley market.

Topaz Distribution previously owned Topaz Business Park. The company purchased the property in 2011 for $14 million, and in 2015, it added 40,000 square feet. The same year, the Ventura industrial submarket began to see unprecedented growth, with vacancy plummeting to 2.4% and the arrival of institutional capital. During the pandemic, the Ventura market continued to attract new demand, and Topaz, with the help of Lee & Associates, brought the property to 100% occupancy. It sold the property, making with $32 million in profit.

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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.

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