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6/13/14
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Rexford Industrial Realty Inc recently completed another LA area industrial buy, paying $15.4 mil for a 130.8k sf ($118/sf) property in the San Fernando Valley. The property is located at 2980-2990 N. San Fernando Blvd, adjacent to the I-5, just east of Hollywood way and Bob Hope Airport.
The NNN-leased property includes two buildings that sit on 5.86 acres and is fully leased by Senior Aerospace. It was sold by First Industrial Realty Trust.
First Industrial and Rexford were represented in the transaction by Executive Director John Minervini, Senior Director Erik Larson, Senior Director Robin Dodson and Associate Director Chris Tolles of the Cushman & Wakefield downtown Los Angeles office. Executive Director Jeff Chiate of Cushman & Wakefield’s Irvine office and Executive Director James Carpenter of the company’s Chicago office also repped First Industrial and Rexford in the sale.
"There are very few industrial investment opportunities out there in core in-fill sub-markets,” said Larson. “This unique opportunity allowed Rexford to expand its rapidly growing Southern California portfolio with a prime San Fernando Valley asset.”
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