R
exford Industrial Realty has acquired a fully leased 300,000-square-foot warehouse in Compton for $137.2 million. The property at 2501 West Rosecrans Avenue is strategically located near the ports of Los Angeles and Long Beach. JPMorgan Chase was the seller.

    The deal translates to $457 per square foot, exceeding the average regional investment sale price. Forward Air, a logistics firm, signed a 10-year expansion lease for the entire property earlier this year. The building features over 100 drive-in loading doors and parking for up to 138 big-rig trailers.

    This acquisition marks Rexford's continued growth in Southern California, where it has completed over $1.4 billion in industrial acquisitions through the third quarter of last year. Despite a larger pullback from industrial landlords due to higher interest rates and inflation, Rexford has bucked the trend by focusing on smaller warehouses.

    As one of the major warehouse landlords in Southern California, Rexford owns 293 industrial properties across the region, totaling 37 million rentable square feet with an average occupancy rate of 96 percent. Founded in 2013 by Richard Ziman and run by Co-CEOs Howard Schwimmer and Michael Frankel, Rexford has successfully navigated the national warehouse slump by focusing on smaller buildings that average 26,000 square feet.