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NEWPORT BEACH, CA-Rexford Industrial LLC has opened a Newport Beach office to expand acquisition and development activities into Orange County, naming former Argus Realty Investors exec John T. Caley as a Rexford senior vice president in charge of the new office.

Howard Schwimmer, Rexford’s managing member, says Caley will target industrial acquisition and development properties that have a value-added component through redevelopment, rental turnover or repositioning plays. Caley was head of acquisitions at San Juan Capistrano-based Argus Realty, where he purchased office and industrial assets. Before Argus, Caley was vice president of investment services for Transwestern Commercial Services’ Chicago-headquartered investment division, where he handled dispositions and real estate investment banking.

In recent months, Rexford Industrial has purchased more $50 million of industrial properties in the Los Angeles area cities of Industry, Monrovia and Oxnard. Schwimmer says Rexford is committed to expanding its footprint in Orange County, a key Southern California industrial market.

Rexford is an acquisition, development and management firm that plans to eventually acquire more than $200 million of industrial assets. Its target market consists of stabilized and value-added single and multi-tenant industrial properties, including class B and C buildings, throughout Southern California.

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