Los Angeles Business Journal

Rexford Makes Orange County Buy

By Deborah Crowe Monday, November 4, 2013

Rexford Industrial Realty Inc. has acquired an industrial property in Yorba Linda at auction for $12.7 million.

The West Los Angeles real estate investment trust said the four-building, 116,000-square-foot Yorba Linda Business Park property at 22343-49 La Palma Ave. was lender-owned.

“Yorba Linda Business Park is one of Rexford Industrial’s target infill-submarkets, and we are well-positioned to substantially improve the property’s occupancy and cash flow,” Co-Chief Executive Howard Schwimmer said in a statement.

Shares closed down 5 cents, or less than 1 percent, to $13.60 on the New York Stock Exchange.