Rexford Industrial Acquires Development Site In Long Beach For $20M
3901 Via Oro Avenue
148,520 SF
Summary
Rexford Industrial has acquired a development site located at 3901 Via Oro Ave in Long Beach, CA. The property, previously owned by Wonderful Company, was sold for a total price of $20,000,000. The transaction took place off-market in August 2022.
Summary of transaction details:
- Property Type: Development Site
- Sale Price: $20,000,000
- Buyer: Rexford Industrial
- Seller: Wonderful Company
- Brokers: Chad Solomon & Mark Detmer - JLL
The sale involved a two-story office building with a total square footage of 133,729. The building will be re-developed into a Class A warehouse. The price per square foot for the property was $150, and the building's square footage price was $270.
Chad Solomon and Mark Detmer, representing JLL, played a crucial role in facilitating the transaction on behalf of Rexford Industrial. Their expertise and negotiation skills contributed to the successful acquisition of the property.
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