Rexford Industrial Acquires Two Industrial Properties for $14.6 Million

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– Adds Two Highly Occupied Properties in High Demand Submarkets –

– Year-to-Date Acquisition Volume Surpasses $142 Million –

LOS ANGELES--(BUSINESS WIRE)-- Rexford Industrial Realty, Inc. (the “Company” or “Rexford Industrial”) (NYSE:REXR), a real estate investment trust focused on owning and operating industrial properties located in Southern California infill markets, today announced the acquisition of two industrial facilities for a total of approximately $14.6 million. The acquisitions were funded with cash and borrowings under the company’s credit facility.

“These two acquisitions further demonstrate our ability to source and acquire well-located and high demand industrial properties in off-market or lightly-marketed transactions throughout our core infill markets,” said Howard Schwimmer and Michael Frankel, Co-Chief Executive Officers of the Company. “Both properties feature excess paved secured land, in high-demand locations, which position the facilities for market-leading rents, and may offer opportunities to create additional value over time. With these investments, we have acquired over $142 million of industrial properties in 2015, and our pipeline opportunities remain strong as we look to further expand our platform.

In July, Rexford acquired Lakeland, an 18,995 square foot industrial building situated on 2.87 acres, in Santa Fe Springs, for $4.973 million. The prime corner lot has high visibility on Norwalk Boulevard, one of the central arteries of Santa Fe Springs. The 100% occupied, 24’ clear building was acquired in an off-market transaction and features a two-story office with both dock-high and ground level loading. In addition, the property provides over 80,000 square feet of excess developable paved land in one of the strongest submarkets in Southern California. Santa Fe Springs is located in the Mid Counties submarket, which contains approximately 109 million square feet of industrial space. According to CBRE, the vacancy rate was 1.4% at the end of the second quarter of 2015.

In August, the Company acquired Port Hueneme, a two-building 86,904 square foot industrial complex, for approximately $9.6 million, or about $111 per square foot. The multi-tenant project is currently 91.3% leased, and was acquired in a lightly marketed transaction from a private owner. Located on highly-trafficked Hueneme Road in southern Oxnard, the property attracts tenants who support the nearby Port Hueneme and associated Naval operations, and is the only multi-tenant industrial park in Oxnard providing secure storage yards for small users. Oxnard is located in the Ventura submarket, which contains approximately 63 million square feet of industrial space. According to CBRE, the vacancy rate was approximately 3.9% at the end of the second quarter of 2015.

About Rexford Industrial

Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns interests in 111 properties with approximately 10.9 million rentable square feet and manages an additional 19 properties with approximately 1.2 million rentable square feet.

For additional information, visit www.rexfordindustrial.com.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. While forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, they are not guarantees of future performance. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the reports and other filings by the Company with the U.S. Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes.

Investor Relations:
Rexford Industrial Realty, Inc.
Stephen Swett, 424-256-2153 ext. 401
investorrelations@rexfordindustrial.com

Source: Rexford Industrial Realty, Inc.

Released August 12, 2015