Rexford Industrial acquires Santa Ana property for $11M

|About: Rexford Industrial Realty (REXR)|By:, SA News Editor

Southern California's Rexford Industrial (REXR -0.4%) adds to its holdings with the purchase of a 83.8K square foot industrial building along with some land - the two totaling 7.9 acres - in Santa Ana at $131 per square foot.

It's a short-term sale-leaseback deal (6 months), but real cheese should come from renovation, repositioning, and possible expansion of the leasable square footage once the lease expires.