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Rexford Industrial Realty Acquires Industrial Property In Santa Fe Springs For $210M
SOLD
$210,000,000
California
See Similar DealsIndustrial595,304 SF
Sold 07/24/2023
SOLD
Rexford Industrial Realty Acquires Industrial Property In Santa Fe Springs For $210M
9400 Santa Fe Springs Rd Santa Fe Springs, CA 90670, USA
See Similar DealsIndustrial595,304 SF
Sold 07/24/2023
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$352
Total Square Footage:595,304 SF
Transaction Type:Sale
Rexford Industrial Realty, Inc., has acquired a fully leased industrial property in Santa Fe Springs, Southern California. The property spans 595,304 square feet and is situated on 22.4 acres of land. It is located at 9400 Santa Fe Springs Road in the highly sought-after market of Santa Fe Springs.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $210,000,000
- Address: 9400 Santa Fe Springs Road
- Market: Santa Fe Springs
- Acres: 22.4
Rexford Industrial Realty, Inc.'s acquisition of this industrial property demonstrates its strategic decision to invest in a property located in the LA - Mid-Counties submarket. This specific submarket is known for its high demand and boasts a low vacancy rate of 1.0%. The acquisition marks a significant move for Rexford Industrial Realty, Inc. in expanding its portfolio in the region.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$11,200,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$746,085.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$995,507.14
Annual Debt Service$11,946,085.64
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