$91.5M sale of two Class A industrial buildings in Los Angeles area closes
JLL Capital Markets facilitated the sale of fully leased 6027 and 6000-6052 Bandini Blvd. in Commerce, CA
LOS ANGELES – July 28, 2022 – JLL Capital Markets announced today that it has closed the $91.5 million sale of 6027 and 6000-6052 Bandini Blvd., two Class A industrial buildings totaling 182,782 square feet in Commerce, California.
JLL represented the buyer, Rexford Industrial Realty, Inc in this off-market transaction.
6027 and 6000-6052 Bandini Blvd. is a fully leased Class A industrial park featuring dock-high loading, gated and secured truck courts and 32-foot clear heights.
Positioned in the nation’s highest demand industrial market, the buildings have convenient access to the area’s vast Southern California highway network, including Interstates 5, 710 and 605, and the greater Southwest region.
The JLL team representing the buyer was led by Senior Managing Director Zac Sakowski, Director Chad Solomon and Vice President Brianna Demus.
“This transaction represents a great outcome for both seller and buyer,” Solomon said. “Despite macroeconomic headwinds, the health of the Southern California Industrial market remains strong, with record low vacancy rates, consistent renewals and the continued upward trajectory of asking rates.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 100,000 as of March 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Rexford Industrial
Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand, lowest supply market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities. Rexford Industrial's high-quality, irreplaceable portfolio comprises 335 properties with approximately 40.8 million rentable square feet occupied by a stable and diverse tenant base. Structured as a real estate investment trust (REIT) listed on the New York Stock Exchange under the ticker "REXR," Rexford Industrial is an S&P MidCap 400 Index member. For more information, please visit www.rexfordindustrial.com.