Rexford Sells Vacant Warehouse in L.A.’s South Bay for $53M
The deal came during a quiet first quarter for the industrial-focused real estate investment trust
By Nick Trombola April 21, 2025 2:50 pm
reprints
The industrial market in Los Angeles County’s South Bay is having a moment, and Rexford Industrial Realty is taking its turn in the spotlight.
The Southern California-based industrial real estate investment trust sold an empty, 127,775-square-foot warehouse at 1055 Sandhill Avenue in Carson, Calif., for $52.5 million. The buyer, Carson Warehouse Corporation, which shares an address with freight and logistics company B.Y. International, plans to convert a significant portion of the asset into cold storage to support its food distribution business.
NAI Capital’s Ryan Campbell represented the buyer in the deal for the vacant facility, while the Klabin Company’s Frank Schulz and David Prior represented Rexford.
“Securing a newly built, Class A facility like this in the South Bay industrial market is a rare opportunity,” Campbell said in a statement. “It’s a smart long-term play for logistics and distribution in one of the most competitive markets in the country.”
“With demand for cold storage on a steady rise and new construction opportunities in tight infill markets like Carson quite rare, this sale highlights the longstanding strength of the South Bay industrial sector,” Schulz added in a separate statement.
Rexford bought the property, nestled between Compton/Woodley Airport and California State Route 91, for $14.4 million in 2020. Rexford posted strong quarterly numbers despite economic uncertainty in the early months of 2025, and its leaders feel they are well positioned to outlast any wrinkles brought on by tariffs and persistently high interest rates.
In the first quarter of the year, Rexford recorded its highest level of leasing activity, some 2.4 million square feet, at any point over the last 12 months, according to its most recent earnings report. It likewise posted roughly $252 million in revenue in the first quarter, up from $214 million at the end of last year. The REIT has also scaled back its acquisition velocity; Rexford currently has about $30 million worth of deals accepted or under contract, and zero acquisitions under contract, despite spending over $1 billion per year on new properties since the pandemic.
Nick Trombola can be reached at ntrombola@commercialobserver.com.
