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3/23/12
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Rexford Industrial has acquired two manufacturing buildings with a single tenant in a $4.8 mil, off-market sale-leaseback transaction in Ontario. The buildings, situated on 8.93 acres of land at 1400 S Campus Ave, adjacent to the Ontario International Airport, were purchased from the current tenant, Plastics Research Corp. Plastics Research has made a 10-year commitment to lease and fully occupy the properties, which feature spacious loading dock door layouts and allow for efficient goods movement.
The purchase was made on behalf of Rexford Industrial Fund V REIT (“RIF V”), a private REIT that has acquired more than 1.2 msf of industrial properties. Rexford targets the acquisition of stabilized and value-add industrial properties and purchases loans secured by industrial properties.
Rexford invests in all categories of industrial property, including core, value-add, repositioning and redevelopment. The company specializes in all types of assets within the industrial property sector, including single- and multi-tenant warehouse, distribution, R&D/flex space and light manufacturing buildings.
Dan Foye of Daum Commercial represented both Rexford Industrial and Plastics Research Corporation in the transaction. The price was not disclosed.
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