{"id":15978,"date":"2018-03-30T06:50:28","date_gmt":"2018-03-30T06:50:28","guid":{"rendered":"https:\/\/www.commercialcafe.com\/blog\/?p=15978"},"modified":"2026-04-07T14:51:38","modified_gmt":"2026-04-07T11:51:38","slug":"industrial-property-low-vacancy-la-submarket-sells-17m","status":"publish","type":"post","link":"https:\/\/www.commercialcafe.com\/blog\/industrial-property-low-vacancy-la-submarket-sells-17m\/","title":{"rendered":"Industrial Property in Low-Vacancy LA Submarket Sells for $17M"},"content":{"rendered":"

 <\/p>\n

Rexford Industrial Realty has recently acquired an industrial property in\u00a0Cerritos<\/a>, Calif., in the low-vacancy Los Angeles Mid-Counties submarket.<\/p>\n

\"\"

16010 Shoemaker Avenue, Cerritos (Yardi Matrix)<\/p><\/div>\n

The company, which operates in the\u00a0Southern California\u00a0infill markets, purchased the 115,600-square-foot building in a\u00a0$17.2 million transaction\u2014equating to $149\u00a0per square foot. The buyer funded the acquisition through a combination of cash on hand and draws from its line of credit.<\/p>\n

“We continue to capitalize on our deep market knowledge and ability to uncover off-market acquisition opportunities as a consolidator within infill\u00a0Southern California<\/a>, the nation’s largest and most sought-after industrial market,” Howard Schwimmer\u00a0and\u00a0Michael Frankel, co-chief executive officers at Rexford Industrial, said in a statement.<\/p>\n

The property located on a 4.41-acre site at 16010 Shoemaker Avenue is fully leased to a single tenant with a near-term lease expiration. The new owner plans to complete some minor cosmetic and functional upgrades upon a lease renewal or a re-tenanting.<\/p>\n

The one-story building originally completed in 1985 features 24-foot clearance and 12 dock-high positions, and benefits from easy access to major transportation arterials. The industrial asset is located within a low-vacancy area; according to CBRE<\/em>, at the close of\u00a0Q4 2017, the vacancy rate in the Los Angeles Mid-Counties submarket was 0.9%.<\/p>\n

Rexford Industrial has several other properties in that submarket, including an industrial building at 14830 Carmenita Road & 13555 Excelsior Drive in Norwalk; the warehouses at 14820 Carmenita Road, Norwalk, and at 12907 Imperial Highway, Santa Fe Springs; and an industrial complex at 9641 Santa Fe Springs Road, Santa Fe Springs.<\/p>\n","protected":false},"excerpt":{"rendered":"

  Rexford Industrial Realty has recently acquired an industrial property in\u00a0Cerritos, Calif., in the low-vacancy Los Angeles Mid-Counties submarket. The company, which operates in the\u00a0Southern California\u00a0infill markets, purchased the 115,600-square-foot building in a\u00a0$17.2 million transaction\u2014equating to $149\u00a0per square foot. The buyer funded the acquisition through a combination of cash on hand and draws from its…<\/p>\n","protected":false},"author":60,"featured_media":15981,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[37,38,41],"tags":[],"class_list":["post-15978","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-deals","category-industrial","wpautop"],"acf":[],"yoast_head":"\nIndustrial Property in Low-Vacancy LA Submarket Sells for $17M - CommercialCafe<\/title>\n<meta name=\"description\" content=\"A tightly held industrial asset in a low-vacancy Los Angeles submarket has sold for $17M, reflecting fierce competition for SoCal logistics space.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialcafe.com\/blog\/industrial-property-low-vacancy-la-submarket-sells-17m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Industrial Property in Low-Vacancy LA Submarket Sells for $17M\" \/>\n<meta property=\"og:description\" content=\"Rexford Industrial Realty has recently acquired an industrial property in Cerritos, Calif., in the low-vacancy Los Angeles Mid-Counties submarke\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialcafe.com\/blog\/industrial-property-low-vacancy-la-submarket-sells-17m\/\" \/>\n<meta property=\"og:site_name\" content=\"CommercialCafe\" \/>\n<meta property=\"article:published_time\" content=\"2018-03-30T06:50:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-07T11:51:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/shutterstock_139054475_resized.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"680\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Teodora Demian\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Teodora Demian\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/industrial-property-low-vacancy-la-submarket-sells-17m\/\",\"url\":\"https:\/\/www.commercialcafe.com\/blog\/industrial-property-low-vacancy-la-submarket-sells-17m\/\",\"name\":\"Industrial Property in Low-Vacancy LA Submarket Sells for $17M - 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