Rexford Industrial Realty Inc. bought two industrial properties in Southern California for an aggregate $34.5 million using cash on hand.
The industrial real estate investment trust paid $27.1 million for the 190,900-square-foot, single-tenant property at 218 S. Turnbull Canyon Rd. in the San Gabriel Valley submarket of Los Angeles.
It also paid $7.4 million for the industrial site at 9750 San Fernando Rd. in the Greater San Fernando Valley submarket of Los Angeles. The site features 35,624 square feet of improvements as well as outdoor storage space, and it can accommodate a new distribution building.