Rexford Industrial Sells Two Oceanside Industrial Buildings For $14.7 Million

The transaction involved two vacant industrial buildings located at 1332 & 1336 Rocky Point Drive in Oceanside. The properties together comprise a total of 51,000 square feet, with a sale price of $14,700,000, equating to a price per square foot of $288.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $14,700,000
• Square Footage: 51,000
• Address: 1332 & 1336 Rocky Point Drive
• Market: Oceanside
• Sellers: Howard Schwimmer & Michael Frankel - Rexford Industrial

Rexford Industrial Realty executed this sale as part of a larger $32 million disposition strategy in the third quarter, which also included a property in Pico Rivera. The REIT has sold five assets year-to-date for a total value of $166 million, utilizing the proceeds to repurchase $100 million of shares, thereby enhancing its balance sheet.