Rexford Industrial provides operating activity update

Rexford Industrial (REXR) provided an operating activity update. In Q4 to date, Rexford Industrial executed approximately 657,000 square feet of new and renewal leases, with an average size of 16,000 square feet, including approximately 422,000 square feet of renewal leases and 235,000 square feet of new leases. Comparable rental rates on new and renewal leases increased by 80% compared to prior rents on a net effective basis and by 60% on a cash basis. Average annual rent steps were 3.9% for leases executed quarter to date. As of October 31, year-to-date Same Property Portfolio average occupancy was 96.8% and ending occupancy was 95.9%, in line with Q3 guidance.