RANCHO CUCAMONGA, CALIF. — Rexford Industrial Realty has purchased a 201,035-square-foot industrial property in the Inland Empire West submarket of Rancho Cucamonga for $19.8 million. The property is located at 11190 White Birch Drive.
The asset is fully leased to a single tenant in the logistics industry on a triple-net basis at below-market rent. The building was originally constructed for two tenants, but, upon lease expiration, the property has the potential for efficient re-tenanting to two tenants at higher rents.
The acquisition was funded utilizing the company’s line of credit. The seller was not disclosed.