Rexford Industrial Realty Inc., a real estate investment trust specializing in industrial properties in Southern California, has announced significant operating and transaction activities for the second quarter of 2025. The company executed 1.2 million square feet of new and renewal leases, achieving a 17% increase in comparable rental rates on a net effective basis. In a notable transaction, Rexford disposed of a 106,300-square-foot industrial building in the San Diego - North County submarket for $31 million, generating an 11.9% unlevered IRR. Additionally, the company leased a 191,000-square-foot repositioning project in the Los Angeles - San Gabriel Valley submarket, with a projected stabilized cash yield of 9.2%. This lease, set to commence in September 2025, features 3.8% annual rental rate increases.
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