LOS ANGELES—Rexford Industrial has acquired a319, 348-square-foot industrial complex from anunnamed buyer for $30.5 million in an all-cash transaction. Thesales price equates to $96 per square foot. This purchased bringsthe industrial REIT's year-to-date acquisitionvolume to $260 million.

Located at 9120 Mason Ave. in Chatsworth, CA, the property in100% leased to two tenants. According to Rexford Industrial co-CEOsHoward Schwimmer and MichaelFrankel, the property's strong tenancy and releasingpossibilities helped to attract them to the property. The propertyis fully leased through 2020, and can support one to three tenants,which will ease the releasing process and maximize rents overtime.

"This reflects well on our overall strategy as the acquisitionis well-positioned within one of our prime, target infill SouthernCalifornia sub-markets, generates favorable cash flow anddemonstrates value-add potential throughout our ownershiplife-cycle to further enhance cash flow and value," Schwimmer andFrankel tell GlobeSt.com.