Press Release Details

- 100% leased, Seven Building Industrial Park -

- Year-to-Date Acquisition Volume Surpasses $213 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 that it has acquired Chatsworth Industrial Park, a 153,212 square foot industrial park located in the West San Fernando Valley for $16.8 million, or $110 per square foot. Funding for the acquisition was provided by availability under the Company’s line of credit.

"Our acquisition of Chatsworth Industrial Park further expands our presence in one of our core infill Southern California submarkets and brings our total acquisition volume thus far in 2014 to more than $213 million,” stated Howard Schwimmer and Michael Frankel, Co-Chief Executive Officers of the Company. “The buildings are 100% leased to seven tenants and give us an opportunity to professionalize management of the assets and increase rents as leases roll. The property is favorably positioned, offering a mix of quality, location and functionality that we believe makes it highly attractive in the supply-constrained Greater San Fernando Valley."

The Chatsworth Industrial Park consists of seven free-standing buildings on five separate legal parcels in the Greater San Fernando Valley submarket. The buildings range in size from 11,000 square feet to 52,000 square feet, providing flexible unit sizes which can accomodate up to ten tenants. The project offers a mix of dock-high and ground-level loading and each building offers a private secured yard. The property is in a highly desirable location, positioned between the I-405, I-5,SR-118 and SR-101 highways. As of June 30, 2014, according to CBRE, the vacancy rate for industrial properties in the 172 million square foot Greater San Fernando Valley submarket stood at 1.3%.

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 87 properties with approximately 9.5 million rentable square feet and manages an additional 20 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, 2013. 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.

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

Source: Rexford Industrial Realty, Inc.