Rexford Acquires Chatsworth Industrial Park from Adler Realty Investments
Posted by admin at July 31st, 2014
Rexford Industrial Realty Inc., a Los Angeles based real estate investment trust, continues to acquire industrial properties in the Southland, with their latest acquisition being Chatsworth Industrial Park in Chatsworth, California.
Rexford purchased the fully leased property for $16.8 million from Woodland Hills based Adler Realty and Investments. Funding for the purchase was provided by Rexford’s line of credit. The property is a 153,212 square foot industrial complex. The sale price indicates that the property sold for $110 a square foot. The purchase brings Rexford’s in-fill property acquisition total to $213 million for 2014.
Chatsworth Industrial Park consists of seven buildings ranging from 11,000 to 52,000 square feet, which can occupy ten tenants. Amenities for the buildings include private yards, as well as dock-high and ground-level loading capability. The buildings are ideally situated near the I-405, I-5, SR-118 and SR-101 freeways.