Real estate investment trust Rexford Industrial Realty Inc. purchased two fully leased industrial properties in Southern California infill markets for $99.7 million using cash on hand.
The company bought Pomona Distribution Center at 1601 W. Mission Blvd. in Pomona, within the LA – San Gabriel Valley submarket, for $87.8 million, and a property at 2757 E. Del Amo Blvd. in Rancho Dominguez, within the LA – South Bay submarket, for $11.9 million.
The two-tenant Pomona Distribution Center comprises a 751,528 square-foot industrial building spanning 32.2 acres.
The Rancho Dominguez property consists of a single-tenant industrial building containing 57,300 square feet and spanning 3.48 acres. It also features excess land for trailer parking and storage.