Rexford Industrial Realty Acquires Office Property In Irvine For $40M

Rexford Industrial Realty has acquired a 6.5-acre office property located at 16752 Armstrong Ave in Irvine. The transaction was completed on January 11, 2023, with Griffin Realty Trust acting as the seller. The property spans across 82,645 square feet and was sold for a total price of $40,000,000, resulting in a price per square foot of $484.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $40,000,000
• Square Footage: 82,645
• Address: 16752 Armstrong Ave, Irvine
• Market: Irvine

The deal was facilitated by the brokerage team consisting of Kevin Shannon, Paul Jones, Bret Hardy, Ken White, and Brandon White from Newmark, who represented both the buyer, Rexford Industrial Realty, and the seller, Griffin Realty Trust.