Rexford Industrial Pays $29.5M for Chatsworth Industrial Bldgs

Allegretti & Company Sells 256,000-SF Business Park

Rexford Industrial acquired four industrial buildings at 9200, 9230 and 9250 Mason Ave. and 9171 Oso Ave. in Chatsworth, California, for $29.5 million, or about $115 per square foot, from Allegretti & Company.

The sale represented the seller's downleg in a 1031 tax-deferred exchange. The buyer, paying cash for the portfolio, cited the investments' location in Southern California’s high-demand infill industrial market.

The four industrial buildings total 256,202 square feet on 11.1 acres in Los Angeles County. The properties were fully leased to three tenants in the cosmetic industry at the time of sale.

Ronald Kassan, Dustin Tondreau, Arthur Minassian and Garrett Houghton of Beitler Commercial represented both the seller and the buyer in the sale.