The transaction encompasses 5.2 million square feet of industrial space, with properties averaging 237,000 square feet each. These assets carried a weighted average lease term of 2.7 years, with in-place rents roughly 28% above current market rates. Rexford expects an estimated 2027 cash NOI yield of 5.5% as the portfolio adjusts to market-rate leasing and expected tenant departures.

CEO Laura Clark noted that the sale brings the company’s total dispositions for the year to $1.5 billion. The firm is actively using these proceeds to strengthen its balance sheet, having already repaid $492 million in debt and repurchased $505 million of common stock year to date. With a target Net Debt to Adjusted EBITDA ratio of 3.5x, Rexford remains within its full-year 2026 disposition guidance of $1.5 billion to $2.0 billion. The company reaffirmed its 2026 earnings guidance, confirming that remaining proceeds will be directed toward 2027 debt maturities and opportunistic share buybacks.