Photo: Bernd Dittrich / Unsplash. Illustrative real-estate image; not a photograph of a specific property or company discussed in this article. Southern California's warehouse boom made Rexford Industrial one of the most closely watched landlords in the country. Its latest numbers show the boom is over. The Los Angeles real estate investment trust reported third quarter results Thursday. On new leases, cash rents came in 7% below the rents on the previous leases for the same space. Renewals did better,…
MarketLos Angeles
LA’s Biggest Industrial Landlord Is Cutting Rents on New Leases by 7%
Rexford’s new-lease cash rents fell 7% as the Southern California industrial landlord sold properties and cut development starts. What it means for brokers.
