Rexford Industrial Acquires Garden Grove Property For $34 Million With Newmark Representation

Rexford Industrial has purchased Monarch Industrial, a 276,585-square-foot industrial facility located at 12752 Monarch St, Garden Grove, CA, for $34 million. The property sits on 11.1 acres within the supply-constrained west Orange County submarket, characterized by a low industrial vacancy rate of 1.6 percent. The facility is conveniently positioned near Garden Grove Freeway, offering access to downtown Irvine and John Wayne Airport. The building, constructed in 1971 with an addition in 1980, features clear heights of 18 and 22 feet, 14 dock-high spaces, 11 ground-level doors, and 346 parking spaces, along with climate control, insulated ceilings, and fire sprinklers.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $34,000,000.00
• Square Footage: 276,585
• Address: 12752 Monarch St, Garden Grove, CA
• Market: Garden Grove
• Seller's Representatives: Ken White (Newmark), Kevin Shannon (Newmark), Bret Hardy (Newmark), Jeff Read (Newmark Knight Frank)
• Buyer: Rexford Industrial
• Seller: Western RealCo and Penwood Real Estate
• Note: The transaction was conducted off-market after two years of ownership by the seller.

Newmark Knight Frank’s Co-Head of U.S. Capital Markets Kevin Shannon, Senior Managing Director Scott Schumacher, and Executive Managing Directors Ken White, Jeff Read, and Bret Hardy represented the seller in this transaction. Rexford Industrial conducted the deal as a self-represented buyer.