Rexford Industrial Realty Acquires Warehouse on Rosecrans from JPMorgan Chase

Los Angeles-based Rexford Industrial Realty acquired a 300,000-square-foot warehouse located at 2501 W. Rosecrans Ave. in Los Angeles from JPMorgan Chase for $137 million or $457 per square foot. The industrial giant acquired the property, which sits on 17 acres and was recently leased by Forward Air for 10 years.

The property has a cross-dock configuration with 100 doors and features a large yard area with excess land for 138 trailer spots. It’s located just 11 miles from Los Angeles International Airport and 13 miles from the Southern California port complex. The property was originally built in 2000.

As of the third quarter, Rexford’s portfolio was comprised of 424 properties with approximately 50.3 million rentable square feet in Southern California. In November, the company hired Michael Fitzmaurice as chief financial officer and promoted Laura Clark, the current chief financial officer, to the role of chief operating officer. Those moves were effective as of November 18.