Rexford Industrial Sells Fullerton Warehouse for $50.2 Million

Terra Industrial consolidated operations from two separate facilities into the 136,000-square-foot property to cut costs and improve efficiency.

By the Family Office Real Estate Daily Desk·Monday, November 2, 2026·2 min read

Editorial summary of reporting byBisnow Our editorial standards →

The answer · checked against Bisnow

What price did Rexford Industrial Realty receive for the sale of its Fullerton warehouse, and who was the buyer?

Rexford Industrial Realty sold a 136,000-square-foot industrial property at 1500 S. Raymond Ave. in Fullerton to Terra Industrial for $50.2 million. Terra Industrial had previously operated out of two facilities totaling more than 180,000 square feet, which according to Cushman & Wakefield presented operational inefficiencies and increased long-term occupancy costs. Cushman & Wakefield represented both the buyer and the seller in the transaction.

Key facts

Rexford Industrial Realty sold a 136,000-square-foot industrial property at 1500 S. Raymond Ave. in Fullerton to Terra Industrial for roughly $50.2 million.
Terra Industrial had previously been operating out of two facilities totaling more than 180,000 square feet, which according to a Cushman & Wakefield release presented operational inefficiencies and increased long-term occupancy costs.
A Cushman & Wakefield team of Kevin Turner and Jiselle Roberson represented the buyer, Terra Industrial, in the Fullerton transaction.
Cushman & Wakefield's Randy Ellison, Brett Lockwood, Kyle McGillen and Andrew Ryan represented the seller, Rexford Industrial Realty, in the Fullerton transaction.
Marcus & Millichap announced the sale of the Knott-Orange Apartments, a 35-unit multifamily property at 515 S. Knott Ave. in Anaheim, for $9.7 million, or $275,714 per unit.
CBRE facilitated the $14.3 million sale of a 56,000-square-foot office property at 20 Centerpointe Drive in La Palma, at a price of $255 per square foot, to a local private investor in a 1031 exchange.

Rexford Industrial Sells Fullerton Warehouse for $50.2 Million — Image: editorial illustration · Story sourced from Bisnow

Rexford Industrial Realty sold a 136,000-square-foot industrial property at 1500 S. Raymond Ave. in Fullerton to Terra Industrial for roughly $50.2 million. The deal was brokered by Cushman & Wakefield.

Terra Industrial had previously operated out of two facilities totaling more than 180,000 square feet, which presented operational inefficiencies and increased long-term occupancy costs, Cushman & Wakefield said in a release. The acquisition allows the buyer to consolidate under one roof.

A Cushman & Wakefield team of Kevin Turner and Jiselle Roberson represented the buyer. Randy Ellison, Brett Lockwood, Kyle McGillen and Andrew Ryan of Cushman & Wakefield represented Rexford.

In a separate multifamily transaction, Marcus & Millichap announced the sale of the Knott-Orange Apartments, a 35-unit property in Anaheim. The 32,300-square-foot property sits on 1.25 acres at 515 S. Knott Ave. and sold for $9.7 million, or $275,714 per unit.

The sale was the fourth from the same seller, which owns a multifamily portfolio in the greater Anaheim area and is rebalancing holdings through 1031 exchanges, the brokerage said. Marcus & Millichap's Nick Kazemi, Tyler Leeson, Matt Kipp and Drew Holden had the exclusive listing on behalf of the seller, a family that had owned and operated the property for more than 30 years. The team also procured the buyer, an undisclosed Southern California-based property management company.

CBRE facilitated the $14.3 million sale of a 56,000-square-foot office property at 20 Centerpointe Drive in La Palma. The sale price translates to $255 per square foot. The single-story property sits on approximately 3.6 acres, was built in 1988 and includes roughly 194 parking spaces. At the time of sale, the building was approximately 84 percent leased to tenants including Convergint Technologies, ISEC Inc. and Telecare Corp. A local private investor acquired the property in a 1031 exchange.

Gantry secured a $31 million permanent refinance for the Valley Central Shoppes at 44410–44690 Valley Central Way in Lancaster. The 174,000-square-foot center is a component of a master-planned retail power center cluster and shadow-anchored by a Walmart Super Center and a Food 4 Less grocer. Gantry's Tony Kaufmann, Jake Davis and Ramza Zeiter represented the borrower, an unnamed private real estate investor. The 10-year, fixed-rate, nonrecourse loan was secured from one of Gantry's insurance company correspondents.

The Deployment Angle

Family Office Real Estate Daily Desk · our analysis, not the source's

The Fullerton sale demonstrates a path for family offices holding stabilized industrial: sell into strong bid from user-buyers and redeploy into higher-yielding infill redevelopment or newly-delivered Class A space with embedded rent-step leases. At $50.2 million for 136,000 square feet, the property traded at roughly $369 per square foot — a price that reflects functional but not premium product. A family office that held similar vintage could extract liquidity now and re-enter via co-GP capital in a programmatic acquisition-and-reposition vehicle targeting secondary infill markets.

The Anaheim multifamily sale at $275,714 per unit offers a benchmark for 1031 redeployment sizing. The seller is executing a serial 1031 programme across four sales, suggesting a deliberate portfolio rebalancing rather than distress. Family offices with legacy multifamily portfolios in primary California markets should model this arithmetic: exit older units at compressed yields, capture tax deferral, and redeploy into Texas or Southwest multifamily at wider spreads and lower basis. The buyer here was a local property manager, not an institutional fund — a reminder that direct acquisitions in the $10 million range often face less bidding competition.

The Lancaster retail refinance at $31 million for a 174,000-square-foot grocery-anchored centre reflects stable debt appetite for necessity retail. The 10-year fixed-rate structure from an insurance company lender signals that family offices can still lock in long-term, nonrecourse financing on shadow-anchored assets with investment-grade tenancy. Underwrite anchor renewal risk and verify that the Walmart and Food 4 Less leases have co-tenancy protections intact — these drive lender confidence and justify sub-6 percent cap rates in secondary retail.

Questions this story answers

01Why did Terra Industrial buy the Fullerton warehouse from Rexford?

According to a Cushman & Wakefield release, Terra Industrial had previously been operating out of two facilities totaling more than 180,000 square feet, which presented operational inefficiencies and increased long-term occupancy costs. Terra Industrial consolidated those operations into the single 136,000-square-foot property at 1500 S. Raymond Ave. in Fullerton.

02Who brokered the Rexford Industrial sale of the Fullerton warehouse?

Cushman & Wakefield represented both sides of the transaction. Kevin Turner and Jiselle Roberson represented the buyer, Terra Industrial. Randy Ellison, Brett Lockwood, Kyle McGillen and Andrew Ryan represented the seller, Rexford Industrial Realty.

03What was the price per unit for the Anaheim multifamily sale handled by Marcus & Millichap?

Marcus & Millichap announced the sale of the Knott-Orange Apartments, a 35-unit property at 515 S. Knott Ave. in Anaheim, for $9.7 million, which translates to $275,714 per unit. The seller was a family that had owned and operated the property for more than 30 years and was rebalancing its holdings through 1031 exchanges.

04What were the terms of the Gantry refinance in Lancaster?

Gantry secured a $31 million permanent refinance for the Valley Central Shoppes at 44410–44690 Valley Central Way in Lancaster. The loan was a 10-year, fixed-rate, nonrecourse loan secured from one of Gantry's insurance company correspondents. Gantry will service the loan for the lender.

05What is the occupancy rate and sale price of the La Palma office building sold by CBRE?

CBRE facilitated the $14.3 million sale of a 56,000-square-foot office property at 20 Centerpointe Drive in La Palma at $255 per square foot. At the time of sale, the building was approximately 84% leased to tenants including Convergint Technologies, ISEC Inc. and Telecare Corp. A local private investor acquired the property in a 1031 exchange.

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