Rexford Industrial acquires five properties for $110.3M, sells two for $12.8M
Rexford Industrial Realty announced the acquisition of five industrial properties for a total of $110.3M and the disposition of two properties for $12.8M. The acquisitions were funded using cash-on-hand as well as the reinvestment of disposition proceeds. The company also completed two disposition transactions, comprising the following: a 6,562 SF industrial condo unit located at 939 Poinsettia Avenue in Vista, within the San Diego - North County submarket, sold for $1.3M, or $193 per square foot; a 62,395 SF multi-tenant complex located at 2350-2384 Orangethorpe Avenue and 1631 Placentia Avenue, in Fullerton within the Orange County - North submarket, sold for $11.5M, or $185 per square foot. Proceeds from both dispositions were recycled in tax deferred 1031 exchanges to fund portions of the Company's acquisitions.