Rexford Industrial Realty, Inc. (NYSE:REXR) acquired 4240 W. 190th Street for $75.3 million in December 2021. Upon lease expiration, the Company plans to redevelop the 11.6-acre site into a best-in-class, single-tenant logistics facility. The initial 3.0% unlevered cash yield is projected to grow to a stabilized unlevered cash yield on total investment of 5.1%. According to CBRE, the vacancy rate in the 218 million square-foot LA - South Bay submarket was 0.6% at the end of the third quarter 2021.

Rexford Industrial Realty, Inc. (NYSE:REXR) completed the acquisition of 4240 W. 190th Street in December 2021.