The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
June 25, 2024
 Search RENTV
 The REview
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

Printer-friendly Version   Email an Associate
Rexford Industrial Realty Closes $106 Mil SoCal Biz Park Buy


In a major industrial acquisition from a few weeks ago, Rexford Industrial Realty Inc purchased Conejo Spectrum Business Park, a nine-building, 531.4k sf industrial park in Thousand Oaks, for $106.3 mil ($200/sf). The complex, covering just over 28 acres, is 72% leased to a range of credit tenants.

The newly constructed, Class A buildings are LEED certified and feature 28'-30' clearance, ESFR fire sprinklers, private secured yards and modern office space. Rexford intends to demise a vacant 98.2k sf building into two units in order to increase value.

"Acquired through an off-market transaction, this investment demonstrates our ability to leverage our deep relationships and market knowledge to catalyze accretive acquisitions in Southern California's infill industrial markets. This transaction presented the rare opportunity to acquire a newly constructed industrial park in a highly competitive submarket in which Class A industrial space is virtually unavailable," according to a statement from company executives. "Conejo Spectrum Business Park has attracted high quality tenants, including major ecommerce and consumer product companies, due to the substantial demand for last-mile logistics to service the adjacent population centers of the San Fernando Valley and Ventura County markets.

According to CBRE, the vacancy rate in the 64 msf Ventura County submarket was 3.1% and the vacancy rate in the 174 msf San Fernando Valley submarket was 1.6% at the end of the fourth quarter 2018.

Return to the Archive page


Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media