Rexford Industrial Realty has secured a mystery tenant for a 276,000-square-foot warehouse, aiming to navigate the current national warehouse slump by leasing smaller properties.
In June, Rexford's warehouse vacancy rate was a low 2.7%, outperforming the Southern California market's 3.9% average and the national rate of 7.1%.
Rexford's strategic focus on smaller buildings, averaging 26,000 square feet, positions it well against a backdrop of rising industrial vacancies across the nation.
Recently, Rexford made notable acquisitions, including an office building in Torrance and leasing three warehouses to a cosmetics firm, adapting to current market conditions.
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