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3/31/22
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Rexford Industrial Realty purchased a 43.5k sf, single tenant office building located at 19900 Plummer St in Chatsworth for $15 mil ($345/sf). The property was sold by Korda Group in an off-market transaction.
The building sits on a 3.82-acre parcel of industrial-zoned land. It is 100% leased to Campbellsville University, a non-profit educator offering a Masters of Marriage and Family Therapy program.
Ryan Plummer, Andrey Mindirgasov, Sean Fulp, Mark Schuessler and Chris Smith with Newmark facilitated the deal.
The Los Angeles North industrial market’s net absorption and sales volume soared to new high in 4Q21, according to Newmark Research. LA North’s net absorption activity totaled nearly 5.1 msf in 2021, a record high for the submarket. The market’s construction deliveries totaled 2.7 msf in 2021, with occupiers having committed to 95.9% of it. Sales volume totaled $2.2 bil in 2021, up 80.3% the prior year.
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