Rexford Industrial Realty, Inc. (NYSE:REXR) acquired Five-building light industrial and manufacturing campus in Western Torrance for approximately $180 million on August 23, 2021. In a related transaction, three Industrial buildings in Van Nuys were acquired. The aggregate purchase price of the transaction is $194.4 million or $233 per square foot of 53,248 square feet of property in Van Nuys and $316 per square foot of 575,976 square foot of property in Torrance. The acquisitions were funded using cash on hand. With $779 million of acquisitions completed year-to-date, plus an additional $600 million of new investments under contract or accepted offer, Rexford Industrial are well positioned to drive superior shareholder value creation through accretive internal and external growth.
Rexford Industrial Realty, Inc. (NYSE:REXR) completed the acquisition of Five-building light industrial and manufacturing campus in Western Torrance on August 23, 2021.