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Rexford Industrial Buys Oxnard Business Park

The Hueneme Road Industrial Center in Oxnard has changed hands for the first time in its 30-year history. Rexford Industrial Realty Inc. of Los Angeles purchased the 86,904-square-foot industrial park for $9.6 million from a family trust, according to Colliers International’s Encino office. The multitenant center, located on 7.4 acres at 610-760 W. Hueneme Road, comprises 23 units of about 3,600 square feet each. All the units have their own fenced, rear concrete yard. That feature, which is rare for Southern California industrial properties, is a major draw for tenants, said Colliers Associate Vice President Jeff Abraham, who handled both sides of the transaction with his colleagues John DeGrinis and Patrick DuRoss. “Another draw for tenants is the fact that the development is strategically located near the deep-water Port of Hueneme,” Abraham said. The complex, built in 1985, has been fully occupied for most of its history, with the average length of tenant occupancy around a dozen years, DeGrinis said.

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