Rexford Industrial (REXR) comparable rent spreads reach 57%.

Rexford Industrial Realty, Inc. (REXR) reported today that 1Q'22 comparable rent spreads (cash basis) were 49.1% for new leases and 59.9% for renewal leases.  The blended increase of 56.9% represents a substantial gain over 2021 levels, although first quarter leasing volume was moderate at 867,000 sf.  The following chart provides a history of REXR's comparable rent spreads since 2016.

Rexford Industrial Realty is an industrial REIT focusing on properties located in Southern California, with sub-market concentrations in Los Angeles County (56% of RSF), San Bernardino (17%), Orange County (11%), San Diego (8%) and Ventura (8%). As of March 31, 2022, the company owned 312 properties with 38.1 million sf. REXR is a member of the S&P MidCap 400 index with a total market capitalization of $15 billion.