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3/24/22
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Rexford Industrial Realty purchased a two-building, Class A industrial property totaling 53.7k sf of space in central Los Angeles for $28 mil ($521/sf). The buildings were sold by a private family real estate investment trust.
The buildings are located at 1501-1545 Rio Vista, just a few blocks south of the I-5/I-10/Hwy 101/Hwy 60 interchange in downtown Los Angeles. Both buildings are 100% leased to stable credit tenants.
The property offers immediate access to major freeways and transportation routes. As one of the highest quality industrial assets in Downtown Los Angeles with state-of-the-art construction, the two-building asset also features fenced parking lots with ample room for transportation trucks and dock-high loading doors.
Jerry Sackler with DAUM Commercial Real Estate Services represented the seller and procured the buyer in the deal. Sackler points out that amidst supply chain uncertainties and rising fuel prices, owner-users and tenants continue to seek rare available opportunities to occupy industrial properties in infill markets such as Central Los Angeles due to close proximity to shipping ports and highway transportation routes.
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