70.2 F
San Fernando
Saturday, Mar 2, 2024

Rexford Industrial Buys Van Nuys Warehouse for $5.6 million

Rexford Industrial LLC has purchased an 81,282 square foot warehouse in Van Nuys for $5.6 million, the company said Friday. The warehouse sits on nearly 4 acres of land on Calvert Street and is 100 percent leased to Genie Air Conditioning & Heating Inc. The deal for the 1971 building was an off-market transaction, with Rexford purchasing the property from an undisclosed private family trust. “The property’s ideal location and low cost basis makes it a great addition to our portfolio,” said Howard Schwimmer, co-founder and senior managing partner of Rexford, in a statement. Rexford, a Los Angeles real estate investment firm that specializes in industrial properties, is in the process of acquiring more than $500 million in properties, primarily funded by its Rexford Industrial Fund V real estate investment trust. Todd Lorber and Chris Jackson of NAI Captial Inc.’s Santa Clarita office represented both the buyer and the seller.

Featured Articles

Related Articles