Based in Los Angeles, Rexford Industrial Realty Inc. announced a $15.4 million Burbank acquisition to add to its Valley property portfolio. The purchase was financed through a $10.3 million loan with the remainder being funded by the firm’s line of credit.

The firm purchased a 130,000 square foot two-building setup located at 2980 and 2990 N. San Fernando Blvd. The tenant that currently occupies the buildings is Senior Aerospace SSP – a high-pressure air duct manufacturer for planes. Senior Aerospace SSP is a long-term tenant having occupied the space for more than 50 years. The company currently has four years remaining on their lease.

Rexford has a hand in 74 properties totaling 8.1 million square feet. The firm also manages 20 other properties totaling1.2 million square feet.

Source: http://www.sfvbj.com/news/2014/jun/02/rexford-acquires-burbank-properties/