Rexford Industrial Realty Sells Industrial Property
Rexford Industrial Realty sold a 136K SF industrial property for $50.2M. The deal may help Terra Industrial reduce operational inefficiencies.
Original reporting · bisnow.com
Original: “Rexford Sells Fullerton Industrial Building For $50.2M: The Los Angeles Deal Sheet”
Read “Rexford Sells Fullerton Industrial Building For $50.2M: The Los Angeles Deal Sheet” at Bisnow →)
How this was written. Westchester Made wrote this article with a language model from Bisnow’s reporting (model: @cf/meta/llama-3.3-70b-instruct-fp8-fast); it describes that reporting rather than adding to it. The original, linked above, is the full story.
Key points from Bisnow’s report
- Rexford Industrial Realty sold a 136K SF industrial property in Fullerton for $50.2M.
- Terra Industrial may benefit from consolidating its operations into a single location.
- Cushman & Wakefield worked on the deal, representing both the buyer and the seller.
Rexford Industrial Realty has completed the sale of an industrial property in Fullerton, according to Bisnow. The property, located at 1500 S. Raymond Ave., was sold to Terra Industrial for roughly $50.2M.
The buyer had been operating out of two separate facilities, which may have led to inefficiencies and higher costs. Terra Industrial may benefit from consolidating its operations into a single location.
Cushman & Wakefield worked on the deal, with a team representing both the buyer and the seller. The firm's experts, including Kevin Turner and Jiselle Roberson, helped facilitate the sale on behalf of Terra Industrial.
Rexford Industrial Realty was represented by Cushman & Wakefield's Randy Ellison, Brett Lockwood, Kyle McGillen, and Andrew Ryan. The team's efforts may have contributed to the successful completion of the sale.
In other news, Newmark has hired a new senior managing director, who will focus on institutional industrial investment sales. The new hire may help the company expand its presence in the industrial real estate market.
Kidder Mathews has also made a new hire, adding an expert to its healthcare advisory team. The team serves the western US and Texas, specializing in healthcare real estate brokerage.
Meanwhile, Marcus & Millichap has announced the sale of a multifamily property in Anaheim. The 35-unit property was sold for $9.7M, which may indicate a strong demand for housing in the area.
Questions and answers
Who bought the industrial property in Fullerton?
Terra Industrial bought the property from Rexford Industrial Realty.
How much did the property sell for?
The property sold for roughly $50.2M.
Who worked on the deal?
Cushman & Wakefield worked on the deal, representing both the buyer and the seller.
)
