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Rexford’s ability to execute quickly created opportunity to reposition and lease up.
Off market acquisition opportunity to demise, reposition, and lease up. In 2014 we purchased 7900 Nelson Road, a best-in-class, 203,000 square foot, vacant building located in the San Fernando Valley. We were able to capture this opportunity as the seller was exchanging and looking for a quick sale from an established buyer. We repositioned the vacant building and created two 100,000 SF spaces, with enhanced functionality and reconfigured office space plus cosmetic upgrades. We initially projected a 5.9% stabilized yield, and at 100% lease-up we surpassed our expectations and achieved a 6.6% stabilized yield.
14971 East Salt Lake
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