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Rexford Industrial Realty Acquires Torrance Industrial Property For $182M

Property Image
SOLD
$182,000,000
Scott Schumacher
Kevin Shannon
Ken White

California

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Industrial576,000 SF
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SOLD

Rexford Industrial Realty Acquires Torrance Industrial Property For $182M

3100 Lomita Boulevard, Torrance, CA, USA

See Similar Deals
Industrial576,000 SF
Sold
Scott Schumacher
Kevin Shannon
Ken White
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$316
Total Square Footage:576000 SF
Transaction Type:Sale

Rexford Industrial Realty has acquired an industrial property in Torrance for $182,000,000. The property, located at 3100-3110 Lomita Boulevard & 3121 Skypark Drive, spans a total area of 576,000 square feet. With a price per square foot of $315, this transaction marks a significant investment in the Torrance market.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $182,000,000
  • Address: 3100-3110 Lomita Boulevard & 3121 Skypark Drive
  • Market: Torrance
  • Square Footage: 576,000
  • Price Per Square Foot: $315

The seller of the property was Torrance FRM LLC, represented by Greg Orman. On the buyer's side, Rexford Industrial Realty was represented by Scott Schumacher, Kevin Shannon, and Ken White from Newmark. Their expertise and negotiation skills likely contributed to the successful acquisition at a significant price.

Players

Ken White
Newmark
Ken White
96 deals$6.1B volume
BROKER
Scott Schumacher
Newmark
Scott Schumacher
15 deals$665.2M volume
BROKER
Kevin Shannon
Newmark
Kevin Shannon
136 deals$9.1B volume
BROKER
Rexford Industrial
Rexford Industrial
BUYER

Details

SOLD
IMAGE: Kevin Shannon, Ken White & Scott Schumacher DATE: 08/24/2021 ADDRESS: 3100-3110 Lomita Boulevard & 3121 Skypark Drive MARKET: Torrance ASSET TYPE: Industrial BUYER: Rexford Industrial Realty SELLER: Torrance FRM LLC - Greg Orman SELLER’S REP: Scott Schumacher, Kevin Shannon & Ken White - Newmark SALE PRICE: $182,000,000 SF: 576,000 ~ PPSF: $315

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$9,706,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$646,607.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$862,772.85
Annual Debt Service$10,353,274.22