Rexford Signs Logistics Tenant to $15.6M Lease in Simi Valley, Calif.
By Greg Cornfield March 29, 2024 11:25 am
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A logistics company signed a new lease for a warehousing and distribution center in Southern California owned by Rexford Industrial Realty.
The contract makes the firm, River Plate Corporation, the direct lessee of a 136,000-square-foot building it has been subleasing for years at 2950 Madera Road. The deal is valued at $15.6 million, but the length of the lease was not immediately disclosed.
Scott Caswell and Erica Balin of Lee & Associates represented the tenant and announced the lease.
“The Simi Valley and surrounding areas remain an excellent location for companies in the warehousing and fulfillment center market,” Caswell said in a statement.
Rexford REIT is fresh off a $1 billion deal for 3 million square feet in Southern California from Blackstone, the biggest real estate owner in the country. For perspective, Rexford closed on $1.5 billion in acquisitions in the region through all of 2023.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
