REXFORD INDUSTRIAL APPOINTS PATRICK J. SCHLEHUBER AS DIRECTOR OF ACQUISITIONS

Rexford Capitalizes on Economic Downturn, Hires Industry Leader

(Los Angeles, CA – May 14, 2009) – Rexford Industrial, LLC, Southern California’s leading, privately held industrial real estate firm, announced today that they have appointed Patrick J. Schlehuber, CFA, CPA as Director of Acquisitions.

Patrick J. Schlehuber contributes more than 10 years of financial and transactional experience to Rexford’s team. Mr. Schlehuber most recently served as a Transaction Officer with First Industrial Realty Trust (NYSE: FR) where over a five year tenure he was responsible for originating value-driven industrial real estate acquisitions in Southern California. Mr. Schlehuber culminated his career at First Industrial Realty Trust as one of the firm’s top ten leading producers nation-wide
during 2008, prior to joining Rexford.

“We are thrilled to welcome Patrick to Rexford’s team,” said Howard Schwimmer, Rexford’s Senior Managing Partner. “Patrick brings a substantial transaction history and is off to a running start given his extensive expertise, knowledge and relationships focused on Southern California Industrial,” he continued.

While many companies have either reduced or let go of their acquisition teams, Rexford is using the current market turmoil as a time to grow its team with highly qualified, talented professionals. “Whereas many real estate investment companies may be finding difficulties, given the illiquidity and lending constraints in the market, Rexford’s business model is designed to thrive during times of economic uncertainty in order to capitalize upon the dramatic reduction in buyer competition,” according to Rexford Managing Partner, Michael Frankel. “Given the dramatic, increasing volume and quality of investment opportunities currently pursued by Rexford, Patrick joins us at an ideal time in the market cycle,” reiterated Mr. Frankel. As a well-capitalized buyer with a value-driven, conservative approach to investing, Rexford is taking advantage of the current market opportunities. The company is focused on acquiring stabilized industrial property at favorable cash yields, as well as value-add property with opportunities to increase cash flow and value through the
modernization, improvement and re-tenanting of well-located, under-utilized or mis-managed industrial real estate in infill Southern California markets.

A graduate of the University of Notre Dame in South Bend, Indiana, Mr. Schlehuber holds a Bachelors of Business Administration with a degree in Finance. Mr. Schlehuber is also a Chartered Financial Analyst (“CFA”) as well as a Certified Public Accountant (“CPA”).

Rexford Industrial LLC (www.rexfordindustrial.com) is a leading industrial real estate investment firm in Southern California. A well-capitalized private investment company, Rexford invests in all classes and every category of industrial properties, with a focus on infill Southern California. The company combines a uniquely creative, entrepreneurial approach to value creation with a conservative, risk-averse approach to investing that is designed to perform well during all phases of the real estate cycle. Rexford offers brokers unique investment incentives and capitalizes upon an exceptional network of loyal relationships in the industry. With a current portfolio of over five million square feet, Rexford is targeting substantial growth through further acquisitions of industrial property. The firm is based in Los Angeles.