Rexford Industrial Realty, Inc. acquired 21415-21605 Plummer Street, Chatsworth from Laramar Chatsworth Associates, LLC for $42 million.
March 08, 2022
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Rexford Industrial Realty, Inc. (NYSE:REXR) acquired 21415-21605 Plummer Street, Chatsworth from Laramar Chatsworth Associates, LLC for $42 million on February 25, 2022. The acquisition was funded with cash on hand. Rexford intends to redevelop the 9.1 acre industrial-zoned site by removing the existing 231,769 square feet of legacy flex/office improvements and constructing two Class A, 32-foot-clear warehouse buildings totaling 182,000 square feet. The investment generates an initial 5.9% unlevered cash yield and provides future value-add redevelopment opportunity. CBRE brokered the sale on behalf of the seller. The CBRE team led by Mark Schaffer, Mike Longo, Anthony DeLorenzo, Todd Tydlaska, Sean Sullivan, Matt Heyn and Bennett Robinson brokered the off-market transaction on behalf of the seller.
Rexford Industrial Realty, Inc. (NYSE:REXR) completed the acquisition of 21415-21605 Plummer Street, Chatsworth from Laramar Chatsworth Associates, LLC on February 25, 2022.
Rexford Industrial Realty, Inc. is a self-administered and self-managed full-service real estate investment trust (REIT). The Company is focused on owning, operating and acquiring industrial properties in Southern California infill markets. It acquires, owns, improves, redevelops, leases, and manages industrial real estate principally located in Southern California infill markets, through Rexford Industrial Realty, L.P. (Operating Partnership) and its subsidiaries. It also acquires or provides mortgage debt secured by industrial property. It provides property management services and leasing services to related parties and third-party property owners. Its property management services include performing property inspections, monitoring repairs and maintenance, negotiating vendor contracts, maintaining tenant relations and providing financial and accounting oversight. The Company's portfolio consists of over 422 properties with approximately 49.1 million rentable square feet.
REXFORD INDUSTRIAL REALTY, INC. 
