The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
September 26, 2018
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



ETC... ETC...
Printer-friendly Version   Email an Associate
Rexford Industrial Realty Purchases 123k sf Facility in Pacoima

7/05/18

Rexford Industrial Realty has closed on another SoCal industrial buy, paying $22.5 mil for a 122.9k sf ($183/sf), single-tenant property in the northeastern San Fernando Vallery community of Pacoima. The acquisition was funded using available cash on hand.

According to company executives, the recently renovated, 'like-new' warehouse property was acquired with a leaseback to an entrenched occupant serving the growing entertainment and content-related industry centered in Burbank, Hollywood, and West Los Angeles. The company acquired the property, located at 12154 Montague St, south of the 118 Fwy between I-5 and I-210, through an off-market transaction.

The 100% leased, divisible building sits on 4.89 acres of land. The property underwent a full renovation in 2015, including interior and exterior modernization and construction of state-of-the-art creative office space.

At the expiration of the below-market lease, Rexford intends either to renew the current tenant at a market rent, to re-tenant with another single tenant or to demise into four spaces allowing for further rental growth. According to CBRE, the vacancy rate in the 174 msf LA San Fernando Valley submarket was 1.5% at the end of the first quarter 2018.





Return to the Archive page
 
 


 
 
 





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2018 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media