Rexford Makes Orange County BuyMonday, 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.