Rexford Industrial Provides Operating and Transaction Activity Update

Core Viewpoint - Rexford Industrial Realty, Inc. is focused on creating value through investments in industrial properties in Southern California, highlighting strong operational and transaction activity in the second quarter of 2025 [1]. Operating Activity (Second Quarter to Date) - The company executed 1.2 million square feet of new and renewal leases, with an average unit size of 17,000 square feet, including approximately 652,000 square feet of renewal leases and 571,000 square feet of new leases [6]. - Comparable rental rates on new and renewal leases increased by 17% on a net effective basis and by 4% on a cash basis compared to prior rents [6]. - Embedded annual rental rate increases averaged 3.7% for leases executed in the quarter to date [6]. Transaction Activity - The company leased a 191,000-square-foot repositioning project in the Los Angeles – San Gabriel Valley submarket, with a total investment of $31 million, projected to generate a 9.2% unlevered stabilized cash yield [6]. - In May, the company disposed of a property in the San Diego – North County submarket for $31 million, achieving $289 per square foot, with the transaction generating an 11.9% unlevered IRR [6]. - The company has $32 million of dispositions under contract or accepted offer, although there is no guarantee these transactions will close [6].