Rexford Industrial Disposes $127.4M Portfolio of Industrial Real Estate and Office Sites Across Southern California
Rexford Industrial, Inc. (NYSE: REXR) has sold five Southern California properties for a combined $127.4 million year-to-date through March 31, 2026, the company announced April 1, disclosing three transactions for the first time as part of an ongoing capital recycling initiative under Chief Executive Officer Laura Clark.
The dispositions span industrial real estate and office assets across three submarkets, with buyers ranging from owner-users to a merchant builder. The company also reported $200 million in share repurchases during the same period.
Newly Disclosed Industrial Real Estate and Office Dispositions
The three previously undisclosed transactions include a fully leased industrial building in Valencia, a vacant land parcel in Fontana, and a vacant office campus in Anaheim.
At 29010 Avenue Paine in Valencia, Rexford sold a 100,157-square-foot, single-tenant industrial building in the Los Angeles–Greater San Fernando Valley submarket for $31.0 million, or $310 per square foot. The property was 100% leased at the time of sale and was acquired by an owner-user.
In the Inland Empire–West submarket, Rexford sold a 4.2-acre low-coverage site at 13700-13738 Slover Avenue in Fontana for $14.5 million, or $79 per land square foot. The vacant parcel was also sold to an owner-user.
The third newly disclosed transaction involved 600-708 Vermont Avenue in Anaheim, a 133,836-square-foot single-tenant office campus in the Orange County–North submarket that sold for $40.7 million, or $77 per land square foot. The site was previously in the company's near-term development pipeline. Through the disposition, Rexford said it expects to preserve approximately $32 million in capital expenditures that had been associated with the planned development. The property was sold vacant to a merchant builder.
Capital Recycling Strategy and Pipeline
"As we enter Rexford's next chapter, we continue to execute on our capital recycling strategy to unlock meaningful value and drive per-share FFO and NAV growth," Clark said in the announcement. "We are committed to a reformed capital allocation approach that maximizes risk-adjusted returns and strengthens the quality and resilience of our portfolio, positioning Rexford's value creation platform to drive superior shareholder value."
Beyond the five completed dispositions, Rexford said it has approximately $170 million in additional dispositions under contract or accepted offer. That pipeline includes four properties that were in the near-term development pipeline, plus four additional operating properties. The company cautioned that those transactions remain subject to customary due diligence and closing conditions and may not close.
Share Repurchase Activity
Alongside its disposition program, Rexford repurchased 5,534,357 shares of its common stock for $200 million at a weighted average price of $36.14 per share year-to-date through March 31, 2026. The company has $300 million of remaining availability under its current $500 million share repurchase program.
Portfolio Overview
Rexford Industrial is a real estate investment trust focused on infill Southern California industrial properties, which the company describes as the world's fourth-largest industrial market. As of March 31, 2026, the company's portfolio comprised 414 properties totaling approximately 50.4 million rentable square feet. The REIT is listed on the New York Stock Exchange under the ticker "REXR" and is a member of the S&P MidCap 400 Index.
Investor relations contact: Mikayla Lynch, Director of Investor Relations and Capital Markets, at (424) 276-3454 or mlynch@rexfordindustrial.com.