Los Angeles real estate investment firm Rexford Industrial LLC has added to its Valley-area portfolio with the $56.2 million acquisition of an industrial park in Glendale.
The company acquired the 473,345-square-foot property from Australian real estate company Dexus Property Group, which has offices in Newport Beach, according to CoStar Group Inc. The property was 100 percent leased at the time of the transaction.
Tenants include Staples Inc., CGX Anderson Printing TL and Pep Boys. The complex includes seven buildings, mostly used for warehousing, with addresses at 3332-3424 N. San Fernando Road and 3550 Tyburn St.
“This is one of the best industrial parks serving the high-demand Glendale-Burbank market area and has consistently demonstrated strong occupancy,” said Howard Schwimmer, co-founder and senior managing partner at Rexford, in a statement.
In January, Rexford paid $5.6 million for a Van Nuys industrial property, and in July paid $59 million for a Camarillo office property. It owns several other properties in Burbank, Sylmar and Valencia.
Stephen Silk, Jay Borzi and Adam Pastor of Eastdil Secured LLC represented both the buyer and the seller.