JPMorgan Sells Compton Warehouse To Rexford For $137M
Rexford Industrial Realty didn't take a holiday break.
Rexford spent $137.2M to buy a fully leased, 300K SF warehouse at 2501 W. Rosecrans Ave. in Compton, Commercial Observer reported.
That price works out to about $457 per SF for the seller, JPMorgan Chase, a number "well above the average regional investment sale price," according to CO.
Forward Air, a logistics company, signed a 10-year expansion lease for the full property in the second quarter, according to a quarterly report from CBRE.
Rexford ended 2024 with a few large leases, including a lease in Ontario for a full 276K SF warehouse in the second half of the year, The Real Deal reported at the time.
Rexford operates exclusively in Southern California, specializing in infill markets. It spent $1B in the first half of 2024 on a 48-property portfolio in LA and Orange counties from Blackstone. As of Q3, Rexford’s portfolio contained 424 properties and spanned roughly 50.3M SF.
