Rexford Industrial is taking some chips off the table in Southern California, unloading three industrial properties across the Los Angeles region for a combined $86.2 million. The sales, disclosed this week, cover sites in Valencia, Fontana, and Anaheim and signal a pause on some near-term development plans as the REIT recycles capital and keeps leaning into its share repurchase program.
Deals and buyers
According to a company release, the three transactions break down as follows: a 100,157-square-foot building in Valencia that sold for $31.0 million, a 4.2-acre vacant site in Fontana that went for $14.5 million, and a 133,836-square-foot office campus in Anaheim that traded for $40.7 million. The Valencia and Fontana properties were picked up by owner-users, while the Anaheim campus went to a merchant builder. Rexford said the Anaheim deal also preserves roughly $32 million of planned development capital that it no longer needs to pour into the site, as laid out in a release on PR Newswire.
Rexford's rationale
Chief executive Laura Clark framed the moves as part of a broader effort to "execute on our capital recycling strategy" and boost per-share growth. Year to date through March 31, 2026, Rexford said it has sold five properties for a total of $127.4 million and bought back 5,534,357 shares of common stock for $200 million under a $500 million repurchase program. The company also reported having roughly $170 million in additional dispositions under contract, according to the same release.
Market backdrop
Rexford is not alone in trimming its holdings. Market watchers say many owners are unloading non-core assets while Southern California's industrial sector works through a hefty wave of new development that started in 2023. The combination of sales and stock buybacks has drawn attention from financial media, even as landlords navigate a market where pricing is still shaking out.
At the same time, availability is ticking up in key submarkets. In the Inland Empire, first-quarter 2026 data showed vacancy around 8.7 percent and overall availability near 11.9 percent, according to TenantBase. That backdrop has more owners weighing dispositions while price discovery plays out, TenantBase's figures suggest.
What it means locally
The fact that owner-users stepped up for the Valencia and Fontana sites points to ongoing demand for infill industrial footprints in land-constrained pockets around Los Angeles. Meanwhile, selling the Anaheim office campus to a merchant builder lets Rexford walk away from a sizable development bill and reallocate that capital elsewhere.
L.A. Business First first spotlighted the deals and noted that the Anaheim property had previously been part of Rexford's development pipeline. Local investors, brokers, and planners will now be watching to see what the new owners do with these sites in the months ahead.
