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March 21, 2019
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SOUTHERN CALIFORNIA NEWS
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Rexford Industrial Realty Buys Cold Storage Facility in the City of Commerce

12/21/18

A 74.5k sf, cold storage facility in the City of Commerce was acquired by Rexford Industrial Realty for $18.2 mil, or $244/sf.

The multi-tenant building is located at 6100 Sheila St, just south of Washington Blvd and west of I-5. It is 100% leased to a mix of well-established regional and national food distributors.

CBREs Mark Shaffer, Anthony DeLorenzo, Gary Stache, Doug Mack, Jeff Stephens and Art Rasmussen represented the seller, an unidentified life insurance company. Rexford was self-represented in the transaction.

Los Angeles industrial rents have increased more than 10% in the past year due to strong demand from tenants and investors. Cold storage industrial facilities, in particular, have been highly sought after, buoyed by the growth of online grocery sales, which could result in demand for up to 35 msf of U.S. cold-storage space, according to a report from CBRE.





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