Rexford Industrial acquires four industrial properties for $69.6M
Rexford Industrial Realty announced the acquisition of four industrial properties for approximately $69.6M. The acquisitions were funded using cash on hand, draws on the Company's line of credit and proceeds from two dispositions totaling $30.6M. The Company acquired 687 Eucalyptus Avenue, located in Inglewood in the Los Angeles - West Los Angeles/South Bay submarket for $53.9M, or $376 per square foot. Also in the Los Angeles - South Bay submarket, the Company acquired a two-property portfolio consisting of 15401 S. Figueroa Street and 13225 S. Western Avenue located in Gardena for $6.7M, or $112 per square foot. 15401 S. The Company acquired an improved land site at 8542 Slauson Avenue, located in Pico Rivera in the Los Angeles - Central submarket for $9.0M, or approximately $49 per square foot of land. The Company sold 12345 First American Way in the Central San Diego submarket for approximately $7.6M, or $190 per square foot.