West L.A.’s Rexford Industrial Realty Inc. has purchased the six-building Rancho Pacifica Industrial Park in Rancho Dominguez for $210.5 million, or $180 a square foot, from downtown’s CBRE Global Investors Ltd., according to a statement.
“This acquisition presented a rare opportunity to acquire a critical mass of six class A industrial buildings within the highly-desirable South Bay submarket, adjacent to the nation’s two largest ports,” said Rexford Co-Chief Executives Howard Schwimmer and Michael Frankel, in a statement.
Rexford financed the deal for about 1.2 million square feet of property at 2301-2399 and 2330-2398 E. Pacifica Place and 20001-20021 S. Rancho Way through its line of credit and the issuance of a $125 million note.
Mike Adey, Jeff Chiate, Jeffrey Cole, Edward Hernandez and Nico Napolitano of Cushman & Wakefield brokered the July 24 sale on behalf of the seller and the buyer.
Reporter Natalie Hoberman can be reached at firstname.lastname@example.org. Follow her on Twitter @hobermannatalie.
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