Rexford Industrial Realty is anticipating 15% market rent growth this year in the Southern California infill markets that make up Rexford's massive industrial portfolio, the companies co-CEOs said in a Q4 earnings call last week.
Rexford said its acquisitions binge of infill industrial sites in off-market transactions—which in 2022 totaled $2.4B in 52 transactions encompassing 5.9M SF as well as nearly 32 acres for near-term redevelopment—will continue in 2023.
Rexford said it already has closed this year on two stabilized transactions totaling $405M, has more than $125M worth of "highly accretive transactions" in its pipeline under contract or accepted offer—and has identified as suitable candidates for acquisition off-market properties encompassing 250M SF of industrial space.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
