SANTA ANA, CA-Rexford Industrial of Los Angeles has acquired a 187,000-sf refrigeration building at 601 W. Dyer Rd. for $13.1 million and plans to reposition it for lease. The company bought the property from Oakland-based Red Gum Partners, with Kevin Turner, Casey Immel and Michael Hartel of Colliers International representing the buyer and the seller.
Turner notes that facilities like the Dyer Road building "are very rare in the Orange County industrial market." He says there are no other directly competitive or available refrigerated buildings. In addition, the building is in an Enterprise Zone.
The Dyer Road building, which is vacant, was formerly occupied by US Food Service for more than 25 years. Rexford Industrial plans to complete the rehabilitation of the building by the end of February.
Among the improvements under way at the building are exterior painting, seismic upgrades to the building structure, restoration of the cooler and freezer condensers, installation of demising wall, the addition of separate electric metering and other upgrades. Turner, Immel and Hartel will be the leasing agents for the renovated building.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.