Rexford Industrial Announces Acquisition of Industrial Property for $16.9 Million

Rexford Industrial Realty, Inc. (the "Company" or "Rexford Industrial") REXR, a real estate investment trust focused on owning and operating industrial properties located in Southern California infill markets, today announced that it has acquired a 112,062 square foot industrial complex in Poway, California, for $16.9 million, or approximately $151 per square foot. The acquisition was funded with borrowings under the company's credit facility. "Danielson Court is a well-located best-in-class industrial park that serves tenants with a variety of uses, ranging from traditional distribution to high-tech manufacturing," said Howard Schwimmer and Michael Frankel, Co-Chief Executive Officers of the Company. "The 100% occupied property provides strong initial cash flows, and several See full press release