CBRE Arranges Sale of Four Industrial Properties in Greater Los Angeles and San Diego County to Rexford for $65 Million

CBRE announced the sale of four infill industrial properties in the Greater Los Angeles and San Diego County area to Rexford Industrial Realty, Inc. for $65 million.

CBRE’s Vincent Polce, Robert Bickel, Barbara Perrier, Eric Cox and Rebecca Perlmutter represented the seller, New York-based New Mountain Capital.

The four properties, totaling 150,736 square feet, are located in Van Nuys, Carson, Vernon and Oceanside. They were part of the so-called West Coast Cold Production & Storage Portfolio, which was comprised of six cold production and distribution assets strategically located in premier infill submarkets in California. All properties are currently leased to Arctic Glacier Co.

The addresses are:

• 14243 Bessemer Street, Van Nuys
• 17011, 17023 & 17027 S Central Avenue, Carson
• 2970 East 50th Street, Vernon
• 2843 Benet Road, Oceanside

“These properties were unique as they are fully occupied by Arctic Glacier, an ice manufacturer,” said Perrier. “The company is owned by a well-capitalized equity sponsor – The Carlyle Group – and provides long-term security.”

She added, “Strategically located industrial properties across our region have been highly sought after by tenants as well as investors. We don’t see that trend subsiding any time soon.”