The transaction, expected to close by the end of the third quarter of 2026, carries an estimated 5.5% cash NOI yield for 2027. This figure accounts for the anticipated roll-down of above-market rents and expected tenant moveouts. By shedding these non-core assets, Rexford aims to sharpen its focus on properties that promise stronger cash flow and value appreciation.

CEO Laura Clark described the move as a disciplined effort to recycle capital into higher-return projects. Proceeds from the sale are earmarked for debt reduction, share repurchases, and internal development initiatives. With this latest agreement, Rexford reaches $1.5 billion in closed or contracted dispositions for the year, keeping the firm on track to meet its annual guidance of $1.5 to $2.0 billion. The company continues to negotiate additional sales as part of its broader strategy to strengthen its balance sheet.