Rexford Industrial Sells Lake Forest Property for $50.9 Million
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Los Angeles-based Rexford Industrial Realty Inc. sold 20 Icon in Lake Forest for $50.9 million, or $497 per square foot. The 102,299-square-foot industrial building was fully occupied by a single tenant.
“Rexford Industrial delivered solid first quarter performance, underscoring the strength of our platform and the discipline of our execution,” said Howard Schwimmer and Michael Frankel, co-chief executives, in a statement.
The sale came shortly after Rexford sold 1055 Sandhill Ave. in Carson for $52.5 million, or $410 per square foot. The 127,775-square-foot industrial building was sold vacant to a company that plans to utilize it for operations. Additionally, the company reported $30 million of sales under contract.
Information for this article was sourced from Rexford Industrial.
