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PRESS RELEASE: Industrial Building Sold for $19.8 Million

PRESS RELEASE | 12821 Knott Street, Garden Grove, CA 92841

Real estate investment trust company, Rexford Industrial Realty, Inc., has acquired a 120,800 SF industrial building at 12821 Knott St., located in Garden Grove. The value-add property sold for $19.8 million, or $164/SF, and was funded using cash on hand.

The Seller's broker, Dave Dilday of Pacific Coast Commercial stated, "the Buyer purchased the building with the intent to add an additional 45,000+ SF of new warehouse space to attract a tenant interested in warehouse, manufacturing and distribution in a very strong location off the Garden Grove Freeway (CA-22) at the Knott Ave exit.”

The high-visibility, freeway frontage property is situated on 6.97 acres of land and is currently vacant.

Seller Representation: Dave Dilday, Pacific Coast Commercial

Seller Name: Brutten/Reynolds, LLC

Buyer Representation: Clyde Stauff, Colliers International

Buyer Name: Rexford Industrial Realty, L.P

Escrow Company: Commerce Escrow

Title Company: Fidelity

Financing: Cash

Agent Contact Information:

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