Rexford Industrial Realty, Inc. (REXR): Modelo de negócios Canvas [Jan-2025 Atualizado]

No cenário dinâmico dos imóveis industriais, a Rexford Industrial Realty, Inc. (REXR) surge como uma potência estratégica, transformando o mercado imobiliário industrial do sul da Califórnia com sua abordagem inovadora. Aproveitando um modelo de negócios meticulosamente criado que equilibra aquisições estratégicas, melhorias de valor agregado e concentração de mercado direcionada, a REXR se posicionou como um veículo de investimento atraente para aqueles que buscam retornos robustos no setor imobiliário industrial em constante evolução. Mergulhe nos meandros de sua tela de modelo de negócios e descubra como essa empresa está redefinindo o investimento industrial com precisão, experiência e estratégia de visão de futuro.

Rexford Industrial Realty, Inc. (REXR) - Modelo de negócios: Parcerias -chave

Corretores imobiliários industriais e gerenciamento de propriedades

A Rexford Industrial Realty faz parceria com várias corretoras para otimizar o leasing e gerenciamento de propriedades. A partir do quarto trimestre 2023, a empresa trabalhou com:

Tipo de parceiro	Número de parcerias	Cobertura geográfica
Corretores imobiliários comerciais	12 parcerias ativas	Sul da Califórnia principalmente
Empresas de gerenciamento de propriedades	8 empresas especializadas	Regiões de Los Angeles e Orange County

Contratados de construção e desenvolvimento

Parcerias estratégicas com empresas de construção incluem:

• Turner Construction Company
• Hathaway Dinwiddie Construction Company
• Aecom Tishman

Orçamento total de desenvolvimento e renovação para 2023: US $ 187,3 milhões

O governo local e as autoridades de zoneamento

Jurisdição	Acordos de zoneamento ativos	Aprovações de permissão em 2023
Condado de Los Angeles	37 acordos ativos	24 licenças de propriedade industrial
Condado de Orange	22 acordos ativos	16 licenças de propriedade industrial

Instituições financeiras e provedores de capital

Principais parcerias financeiras a partir de 2023:

• Wells Fargo Bank - Parceiro de empréstimo Primário
• JPMorgan Chase - Provedor de Fácio de Crédito
• Bank of America - financiamento da dívida

Linhas de crédito totais: US $ 750 milhões

Investidores imobiliários institucionais e privados

Categoria de investidores	Número de investidores	Valor total de investimento
Investidores institucionais	42 investidores ativos	US $ 2,3 bilhões
Empresas de private equity	18 parceiros	US $ 612 milhões

Porcentagem de propriedade do investidor institucional: 87,4% do total de ações

Rexford Industrial Realty, Inc. (REXR) - Modelo de negócios: Atividades -chave

Aquisição de propriedades industriais em mercados do sul da Califórnia de alta demanda

A partir do quarto trimestre de 2023, a Rexford Industrial Realty possuía 353 propriedades, totalizando 48,1 milhões de pés quadrados alugáveis ​​no sul da Califórnia. A estratégia de aquisição de propriedades da empresa se concentra nas seguintes métricas:

Métrica de aquisição	Valor
Volume total de aquisição (2023)	US $ 595,4 milhões
Preço médio de aquisição de propriedades	US $ 22,5 milhões por propriedade
Foco geográfico	Os condados de Los Angeles, Orange, San Diego, Riverside, San Bernardino

Gerenciamento de propriedades e otimização de ativos

A estratégia de gerenciamento de propriedades de Rexford inclui:

• Manter 98,4% de taxa de ocupação no quarto trimestre 2023
• Implementando soluções avançadas de tecnologia de propriedade
• Realização de avaliações regulares de condição de propriedade

Reformas estratégicas de propriedades e melhorias de valor agregado

Investimento em melhorias de propriedades:

Categoria de renovação	Investimento (2023)
Melhorias de inquilinos	US $ 47,3 milhões
Despesas de capital	US $ 62,1 milhões

Diversificação e expansão do portfólio

Composição do portfólio a partir do quarto trimestre 2023:

• Propriedades totais: 353
• Total de pés quadrados alugáveis: 48,1 milhões
• Tipos de propriedades: Armazém, fabricação, P&D, Office Flex Spaces

Leasing e Gerenciamento de Relacionamento Inquilino

Métricas de desempenho de leasing:

Métrica de leasing	Valor
Taxa de renovação do arrendamento (2023)	84.3%
Termo de arrendamento médio	4,7 anos
Receita total de aluguel (2023)	US $ 571,2 milhões

Rexford Industrial Realty, Inc. (REXR) - Modelo de negócios: Recursos -chave

Portfólio imobiliário industrial de alta qualidade

A partir do quarto trimestre de 2023, a Rexford Industrial Realty possuía 331 propriedades, totalizando 42,4 milhões de pés quadrados no sul da Califórnia. Portfólio de propriedades avaliado em US $ 6,5 bilhões.

Métrica do portfólio	2023 dados
Propriedades totais	331
Mágua quadrada total	42,4 milhões
Valor do portfólio	US $ 6,5 bilhões

Capital financeiro e acesso ao mercado

Em 31 de dezembro de 2023, a empresa mantinha:

• Linha de crédito rotativo de US $ 750 milhões
• Empréstimo a prazo de US $ 500 milhões
• Maturidade média ponderada da dívida de 4,9 anos
• Índice de capitalização dívida / total de 42,8%

Especialização da equipe de gerenciamento

Equipe de liderança com experiência imobiliária média de 28 anos, incluindo:

• Howard Schwimmer - Co -CEO com 35 anos de experiência
• Michael Frankel - Co -CEO com 32 anos de experiência
• 7 diretores executivos com formação imobiliária especializada

Tecnologia de propriedades e sistemas de gerenciamento

Os investimentos em tecnologia incluem:

• Software avançado de gerenciamento de propriedades
• Sistemas de rastreamento de ocupação em tempo real
• Plataformas de monitoramento de eficiência energética

Concentração geográfica estratégica

Mercado	Porcentagem de portfólio
Condado de Los Angeles	56%
Condado de Orange	22%
Condado de San Diego	15%
Império interior	7%

Rexford Industrial Realty, Inc. (REXR) - Modelo de negócios: proposições de valor

Investimentos imobiliários industriais de alta qualidade em mercados premium

A partir do quarto trimestre de 2023, a Rexford Industrial Realty possui 370 propriedades, totalizando 24,7 milhões de pés quadrados no sul da Califórnia. Valor de mercado do portfólio: US $ 8,4 bilhões.

Métricas de propriedade	2023 dados
Propriedades totais	370
Mágua quadrada total	24,7 milhões
Valor de mercado do portfólio	US $ 8,4 bilhões

Retornos de dividendos consistentes e confiáveis ​​para os acionistas

2023 Desempenho de dividendos:

• Dividendo trimestral: US $ 0,45 por ação
• Rendimento anual de dividendos: 3,2%
• Dividendos anuais consecutivos aumentam: 10 anos

Propriedades industriais modernas e bem conservadas

Características do portfólio de propriedades:

Métricas de qualidade da propriedade	2023 Estatísticas
Idade média da propriedade	15,3 anos
Propriedades reformadas em 2023	42
Taxa de ocupação	98.4%

Foco estratégico nos mercados do sul da Califórnia com restrição de oferta

Concentração do mercado do sul da Califórnia:

• Propriedades do Condado de Los Angeles: 54%
• Propriedades do Condado de Orange: 22%
• Propriedades do Condado de San Diego: 24%

Potencial para valorização de capital a longo prazo

Métricas de apreciação de capital:

Indicador de desempenho	2023 valor
Retorno total do acionista	15.7%
Crescimento do valor do portfólio	12.3%
Valor líquido do ativo por ação	$56.42

Rexford Industrial Realty, Inc. (REXR) - Modelo de negócios: relacionamentos com o cliente

Acordos de arrendamento de longo prazo com inquilinos industriais

No quarto trimestre 2023, a Rexford Industrial Realty manteve 2.124 acordos de arrendamento com um prazo médio de arrendamento de 3,7 anos. A taxa de ocupação do portfólio foi de 98,8%. As taxas de arrendamento para propriedades industriais no sul da Califórnia foram obtidas em média US $ 15,43 por pé quadrado em 2023.

Métrica de arrendamento	2023 valor
Acordos totais de arrendamento	2,124
Termo de arrendamento médio	3,7 anos
Taxa de ocupação de portfólio	98.8%
Taxa de arrendamento médio por sf	$15.43

Serviços proativos de gerenciamento e manutenção de propriedades

Abordagem de gerenciamento de propriedades:

• Equipe de manutenção interna, cobrindo 35,6 milhões de pés quadrados de espaço industrial
• Tempo médio de resposta para solicitações de manutenção: 2,3 horas
• Investimento anual de manutenção: US $ 6,2 milhões

Apoio e engajamento de inquilinos personalizados

A Rexford Industrial alocou US $ 1,7 milhão em 2023 para gerenciamento de relacionamento com inquilinos, com uma equipe de suporte dedicada de 42 profissionais que atendem aos mercados do sul da Califórnia.

Plataformas de comunicação digital para interações de inquilinos

Plataforma digital	Métricas de uso
Portal de inquilinos online	87% da taxa de adoção de inquilinos
Sistema de solicitação de manutenção móvel	73% das solicitações de manutenção enviadas digitalmente
Investimento anual da plataforma digital	US $ 1,1 milhão

Equipe de gerenciamento de propriedades responsivas

A equipe de gerenciamento de propriedades da Rexford Industrial é composta por 128 profissionais, com um mandato médio de 6,4 anos na organização. As métricas de produtividade da equipe mostram uma média de 14,2 propriedades gerenciadas por profissional.

• Equipe total de gerenciamento de propriedades: 128
• Posse média da equipe: 6,4 anos
• Propriedades gerenciadas por profissional: 14.2

Rexford Industrial Realty, Inc. (Rexr) - Modelo de Negócios: Canais

Equipes diretas de leasing

A partir do quarto trimestre de 2023, a Rexford Industrial Realty mantém uma equipe de leasing interna de 27 profissionais focados especificamente nos mercados imobiliários industriais do sul da Califórnia.

Métrica da equipe de leasing	2023 dados
Total de profissionais de leasing	27
Foco geográfico	Sul da Califórnia
Tamanho médio da transação de arrendamento	US $ 1,2 milhão

Corretores imobiliários comerciais

A Rexford colabora com 42 corretor imobiliário comercial externo para expandir o alcance do mercado.

• Redes de corretores primários: CBRE, JLL, Cushman & Wakefield
• Taxas de comissão de corretores: 3-4% do valor total do arrendamento
• Total de parcerias de corretor em 2023: 42 empresas

Plataformas de marketing digital

Estatísticas de engajamento digital para os canais on -line de Rexford em 2023:

Plataforma digital	Métrica de engajamento
Site corporativo	387.000 visitantes anuais
LinkedIn	14.200 seguidores
Visualizações de listagem de propriedades	62.500 mensalmente

Site de Relações com Investidores

Relações com investidores Desempenho de canal digital em 2023:

• Site visitantes únicos: 156.000 anualmente
• Tempo médio no local: 4,7 minutos
• Garets trimestrais participantes do webcast: 287 investidores

Conferências do setor e eventos de rede

Métricas de participação no evento de Rexford para 2023:

Tipo de evento	Número de eventos	Total de participantes envolvidos
Conferências imobiliárias nacionais	7	1.240 profissionais
Eventos regionais de networking	15	890 contatos do setor
Roadshows de investimento	4	612 investidores institucionais

Rexford Industrial Realty, Inc. (REXR) - Modelo de negócios: segmentos de clientes

Empresas industriais pequenas e médias

A partir do quarto trimestre de 2023, a Rexford Industrial Realty atende a aproximadamente 1.034 empresas industriais pequenas e médias no sul da Califórnia. O tamanho médio do arrendamento para este segmento varia de 10.000 a 50.000 pés quadrados.

Segmento de clientes	Número de inquilinos	Tamanho médio de arrendamento (pés quadrados)	Taxa de ocupação
Pequenas a médias empresas	1,034	25,000	97.2%

Grandes empresas de fabricação e logística corporativas

Rexford possui 186 grandes inquilinos corporativos, com tamanhos de arrendamento normalmente superiores a 100.000 pés quadrados. Essas empresas representam 38% da receita total do portfólio em 2023.

Segmento corporativo	Inquilinos totais	Contribuição da receita do portfólio	Duração média do arrendamento
Grandes corporações	186	38%	7,3 anos

Empresas de comércio eletrônico e distribuição

Os inquilinos de comércio eletrônico compreendem 22% do portfólio de Rexford, com 142 arrendamentos de centro de distribuição e atendimento ativos no sul da Califórnia.

• Inquilinos totais de comércio eletrônico: 142
• Porcentagem de portfólio: 22%
• Tamanho médio do armazém: 75.000 pés quadrados

Empresas de tecnologia e manufatura avançada

Os segmentos de tecnologia e manufatura avançados representam 16% da base de inquilinos de Rexford, com 98 propriedades industriais especializadas.

Segmento de tecnologia	Propriedades especializadas totais	Contribuição do portfólio	Aluguel médio por pé quadrado
Fabricação avançada	98	16%	$16.50

Inquilinos industriais regionais e nacionais

A mistura de inquilinos de Rexford inclui 247 clientes industriais regionais e nacionais em suas 354 propriedades no sul da Califórnia.

• Total de inquilinos regionais/nacionais: 247
• Propriedades totais: 354
• Concentração geográfica: sul da Califórnia

Rexford Industrial Realty, Inc. (REXR) - Modelo de negócios: estrutura de custos

Despesas de aquisição de propriedades

A partir do quarto trimestre de 2023, a Rexford Industrial Realty gastou US $ 763,7 milhões em aquisições de propriedades. O valor total do portfólio de investimentos atingiu US $ 3,8 bilhões.

Métrica de aquisição	Quantia
Gasto total de aquisição (2023)	US $ 763,7 milhões
Valor do portfólio	US $ 3,8 bilhões
Custo médio de aquisição de propriedades	US $ 18,2 milhões

Custos de manutenção e renovação de propriedades

As despesas anuais de manutenção e renovação de propriedades totalizaram US $ 42,3 milhões em 2023.

• Manutenção de rotina: US $ 22,1 milhões
• Melhorias de capital: US $ 20,2 milhões

Gestão e sobrecarga operacional

As despesas operacionais totais para 2023 foram de US $ 89,6 milhões.

Categoria de despesa operacional	Quantia
Despesas gerais e administrativas	US $ 37,4 milhões
Compensação dos funcionários	US $ 52,2 milhões

Despesas de juros no financiamento da dívida

As despesas totais de juros para 2023 foram de US $ 96,5 milhões.

Métrica de financiamento da dívida	Quantia
Dívida total	US $ 1,6 bilhão
Taxa de juros média	6.03%
Despesa de juros anual	US $ 96,5 milhões

Impostos de propriedade e seguro

As despesas anuais de imposto sobre a propriedade e seguro foram de US $ 54,7 milhões em 2023.

• Impostos à propriedade: US $ 41,3 milhões
• Seguro de propriedade: US $ 13,4 milhões

Rexford Industrial Realty, Inc. (REXR) - Modelo de negócios: fluxos de receita

Renda de aluguel de arrendamentos de propriedades industriais

No quarto trimestre 2023, a Rexford Industrial Realty registrou receitas totais de aluguel de US $ 182,1 milhões. A empresa possui 353 propriedades, compreendendo 48,1 milhões de pés quadrados alugáveis ​​no sul da Califórnia.

Métrica	Valor
Receita total de aluguel (2023)	US $ 182,1 milhões
Propriedades totais	353
Total de pés quadrados alugáveis	48,1 milhões
Taxa de ocupação de portfólio	98.4%

Valorização do valor da propriedade

Os investimentos totais de imóveis de Rexford em 2023 foram avaliados em US $ 4,1 bilhões. A empresa experimentou um Apreciação do valor da propriedade de aproximadamente 12,5% Durante o ano fiscal.

Reembolsos de inquilinos para despesas operacionais

• Despesas de passagem recuperadas de inquilinos: US $ 24,3 milhões em 2023
• As categorias típicas de reembolso incluem:
  • Impostos sobre a propriedade
  • Seguro
  • Custos de manutenção

Vendas estratégicas de propriedades

Em 2023, a Rexford concluiu as disposições de propriedade, totalizando US $ 153,2 milhões, com um ganho médio de venda de 35% acima do valor contábil.

Métrica de vendas	2023 valor
Vendas totais de propriedades	US $ 153,2 milhões
Ganho médio na venda	35%

Potencial desenvolvimento e lucro de reconstrução

O pipeline de desenvolvimento, em 2023, incluiu 14 propriedades com potencial investimento bruto de US $ 379,4 milhões, que deve gerar fluxos de receita adicionais por meio de novos e aprimorados ativos industriais.

Métrica de Desenvolvimento	2023 valor
Número de propriedades de desenvolvimento	14
Investimento bruto potencial	US $ 379,4 milhões

Rexford Industrial Realty, Inc. (REXR) - Canvas Business Model: Value Propositions

You're looking at the core reasons why Rexford Industrial Realty, Inc. commands a premium in its niche. It all boils down to the irreplaceable nature of what they own and how they improve it.

The primary value is offering high-quality, functional industrial space exclusively within infill Southern California. As of September 30, 2025, this portfolio consisted of 420 properties spanning approximately 50.9 million rentable square feet. This market is consistently cited as the largest industrial market and the highest-demand, lowest-supply major market in the nation. The operational excellence is clear in the occupancy figures; the Same Property Portfolio ending occupancy hit 96.8% as of September 30, 2025, with an average occupancy for the third quarter at 96.5%.

Value creation comes directly from their proprietary platform focused on repositioning and redevelopment. For projects stabilized year-to-date through the third quarter of 2025, the weighted average unlevered stabilized yield on total investment was reported at 5.8%. However, the internal target and historical performance you should note is the yield of up to 7.4% unlevered stabilized return achieved on certain repositioning projects, as seen in the first half of 2025. Furthermore, capital recycling through dispositions in Q3 2025 generated a weighted average unlevered Internal Rate of Return (IRR) of 14.3% on those sold assets.

You benefit from a stable and diverse tenant base, which is a key defense against volatility. As of September 30, 2025, Rexford Industrial Realty, Inc. served over 1600+ customers. The average tenant size is relatively small at approximately 26,000 square feet, which helps diversify risk away from any single large lease expiration.

The fundamental underpinning is the market itself. Rexford Industrial Realty, Inc. focuses on the infill Southern California industrial market, which is recognized as the world's fourth largest industrial market. This geographic concentration provides superior long-term supply and demand fundamentals because land for new development is scarce.

Tenant stickiness is high. The company reported a strong tenant retention rate recently at 82%, which was the highest level over the past year as of the first quarter of 2025. This high retention, coupled with significant rental rate increases on new and renewal leases-like the 26.1% increase on a net effective basis in Q3 2025-drives the portfolio's performance.

Here's a quick look at the operational scale as of the end of the third quarter of 2025:

Metric	Value	Date/Period
Total Portfolio Properties	420	9/30/2025
Total Portfolio Rentable Square Feet	Approx. 50.9 million sq. ft.	9/30/2025
Same Property Portfolio Ending Occupancy	96.8%	9/30/2025
Q3 2025 Comparable Rental Rate Increase (Cash Basis)	10.3%	Q3 2025
Q3 2025 Property Sales Unlevered IRR	14.3%	Q3 2025

The value proposition is reinforced by the quality of leasing activity:

• Executed 3.3 million square feet of new and renewal leases in Q3 2025.
• Year-to-date repositioning/redevelopment leasing totaled 1,528,532 square feet across 20 leases.
• Total Portfolio Net Operating Income (NOI) increased 2.9% year-over-year in Q3 2025.
• Same Property Portfolio Cash NOI increased 5.5% in Q3 2025.
• Net Debt to Enterprise Value ratio was 23.2% at quarter end.

Rexford Industrial Realty, Inc. (REXR) - Canvas Business Model: Customer Relationships

You're looking to understand how Rexford Industrial Realty, Inc. (REXR) manages and deepens its connections with its tenants, which is key for a real estate investment trust (REIT) focused on long-term asset value in infill Southern California.

Dedicated in-house property management and leasing team

Rexford Industrial Realty, Inc. relies on its internal teams to maintain direct control over tenant interactions and property service quality. This structure ensures that insights from the leasing team and property management team directly inform asset strategy. The company has its leasing team and property management team on the ground to help drive relationships with the brokerage community and gain insights into the market. The firm's portfolio, as of September 30, 2025, comprised 420 Industrial Properties spanning 51M Square Feet.

Direct, long-term relationships with diverse tenant base

The strategy centers on fostering direct, long-term ties with its customer base, which numbered over 1600+ Customers as of September 30, 2025. This focus on a large number of customers within a specialized geographic area suggests a deep understanding of local industrial user needs. The stability of these relationships is reflected in the low level of tenant default risk observed.

The strength of the tenant base and relationship management can be seen in these key operational metrics:

• Tenant retention rate was 82% in Q1 2025.
• Bad debt levels were low at only 30 basis points as a percentage of revenue year to date through Q3 2025.
• Same Property Portfolio ending occupancy reached 96.8% as of September 30, 2025.

High-touch service model for industrial users

The service model is tailored specifically for industrial users, which often require functional, well-located distribution and logistics spaces. This high-touch approach is critical in a supply-constrained market where tenants place a premium on asset quality and location. The company executed 3.3 million square feet of new and renewal leases in Q3 2025 alone, showing high activity levels.

Lease renewals with strong comparable rent growth (e.g., 26.1% net effective in Q3 2025)

The ability to capture significant rent increases upon lease rollover is a direct measure of the value Rexford Industrial Realty, Inc. provides to its tenants through asset management and market positioning. This is where the direct relationship management pays off in financial terms.

Here are the comparable leasing spread results from recent periods:

Metric	Period	Rate
Comparable Rental Rate Increase (Net Effective Basis)	Q3 2025	26.1%
Comparable Rental Rate Increase (Cash Basis)	Q3 2025	10.3%
Leasing Spreads (Net Effective Basis)	July and August 2025	30%
Leasing Spreads (Cash Basis)	July and August 2025	15%
Comparable Rental Rate Increase (Net Effective Basis)	Q2 2025	20.9%

Proactive communication on property improvements and operations

The company actively communicates about its value-add strategy, which involves repositioning and redevelopment projects. This proactive communication manages tenant expectations regarding potential downtime or improvements. The embedded net operating income (NOI) growth in the portfolio as of September 2025 was about 28%, with $105 million of that driven by the re-leasing spreads currently embedded within the portfolio on average. Furthermore, the company had approximately $70 million of annualized NOI driven by repositioning and redevelopment activity that was in process or in lease-up as of the September 2025 presentation. Finance: draft 13-week cash view by Friday.

Rexford Industrial Realty, Inc. (REXR) - Canvas Business Model: Channels

You're looking at how Rexford Industrial Realty, Inc. gets its properties leased and keeps investors informed. The channels they use are deeply tied to their Southern California focus and their vertically integrated structure.

In-house leasing and property management teams

The core of Rexford Industrial Realty, Inc.'s channel strategy relies heavily on its vertically integrated team, which handles on-the-ground asset management and leasing directly. This in-house capability is designed to proactively capture tenant demand. The effectiveness of this team is reflected in the portfolio's leasing performance; for instance, in the third quarter of 2025, they executed a company record of 3.3 million square feet of new and renewal leases. This direct management approach contributed to the Same Property Portfolio ending occupancy reaching 96.8% as of September 30, 2025. Furthermore, leases executed on repositioning and redevelopment projects totaled 844,854 square feet in that same quarter, showing direct execution on value-add assets.

Commercial real estate brokerage networks for new leases

While the in-house team is central, the results suggest broad market reach, which often involves external brokerage networks for new leases. The leasing spreads achieved on comparable leases in Q3 2025-26.1% on a net effective basis and 10.3% on a cash basis-demonstrate strong pricing power achieved through whatever channel secures the deal. The total portfolio, as of September 30, 2025, comprised 420 properties totaling approximately 50.9 million rentable square feet, indicating a scale that necessitates broad market penetration beyond just direct contacts.

Direct tenant outreach and relationship management

The quality of the tenant base and low bad debt levels point to strong relationship management, which is a key output of direct outreach. Bad debt levels were reported below historical averages at 30 basis points as a percentage of revenue year-to-date in Q3 2025. This suggests that the tenants secured through all channels-including direct management-are high quality. The leasing activity included both new leases and renewals, which speaks to successful relationship maintenance. For example, the total leasing volume of 3.3 million square feet in Q3 2025 was nearly double the previous quarter. The portfolio's overall health, with a total portfolio occupancy (including value-add) at 91.8%, shows effective management of move-outs and lease-up pipelines.

Here's a quick look at the operational scale that these channels are driving:

Metric	Value (As of Q3 2025 End)	Unit
Total Rentable Square Feet	50.9 million	Square Feet
Same Property Portfolio Occupancy	96.8%	Percentage
Q3 2025 Leasing Volume	3.3 million	Square Feet
Net Absorption (Q3 2025)	1.9 million	Square Feet
Bad Debt as % of Revenue (YTD)	30 basis points	Percentage

Investor relations and public market disclosures (NYSE: REXR)

Rexford Industrial Realty, Inc. communicates its performance and strategy through public channels to the investment community. The company is listed on the New York Stock Exchange under the ticker REXR and is an S&P MidCap 400 Index member. The channel of public disclosure is critical for capital access and valuation. You should note the following key figures from the latest disclosures:

• Net Debt to EBITDA ratio stood at 4.1x as of quarter end.
• Total liquidity available was $1.6 billion at the end of the quarter.
• Full year 2025 Core FFO per diluted share guidance was raised to a midpoint of $2.40.
• Same-Property Cash NOI guidance midpoint was increased to 4% for 2025.
• During Q3 2025, the company executed $150 million in share repurchases.

Digital platforms for property listings and tenant services

While specific details on proprietary digital platforms aren't explicitly detailed in the earnings call snippets, the high volume of leasing activity and the focus on asset management imply the use of digital tools for listing available space and managing existing tenant relationships. The successful lease-up of repositioning projects, like the $65 million of projected annualized NOI coming online, requires efficient digital marketing channels to reach prospective tenants quickly. The company's ability to achieve a positive net absorption of 1.9 million square feet in Q3 2025, outperforming the broader market, is certainly aided by modern, efficient digital listing and inquiry systems.

Rexford Industrial Realty, Inc. (REXR) - Canvas Business Model: Customer Segments

You're looking at the core of Rexford Industrial Realty, Inc.'s (REXR) value capture-who actually occupies that prime Southern California industrial space. The customer segments are highly concentrated geographically but diverse in function, which is key to their strategy in the nation's largest industrial market.

The primary customer group consists of diverse industrial users needing logistics and distribution space. These are businesses that absolutely must be in infill Southern California due to proximity to ports, labor pools, and end consumers. Rexford Industrial's entire focus is on this supply-constrained, high-barrier-to-entry region.

The tenant mix is intentionally broad to manage risk, but it heavily leans toward the modern supply chain. This includes:

• E-commerce fulfillment and distribution centers.
• Manufacturing operations requiring last-mile access.
• Third-party logistics (3PL) providers managing complex supply chains.
• Tenants specifically focused on last-mile and first-mile distribution within SoCal.

To be fair, Rexford Industrial Realty, Inc. (REXR) also caters to small to mid-sized companies requiring smaller format spaces, which often have higher rent growth potential on a per-square-foot basis when compared to massive single-tenant facilities. This mix helps keep the portfolio dynamic.

Here's a quick look at the scale of the customer base relative to the portfolio size as of late 2025. This data comes straight from their Q3 2025 filings:

Metric	Value (As of 9/30/2025)
Total Properties Owned	420
Total Rentable Square Feet	Approximately 50.9 million square feet
Total Customers	Over 1600 customers
Same Property Portfolio Ending Occupancy	96.8%

That base of over 1600 customers across the portfolio provides a significant buffer against single-tenant risk, even though the average unit size is relatively small for a major industrial REIT. The portfolio's high occupancy, hitting 96.8% in the Same Property Portfolio as of September 30, 2025, shows you how sticky these tenants are once they secure space in these irreplaceable infill locations.

Finance: draft 13-week cash view by Friday.

Rexford Industrial Realty, Inc. (REXR) - Canvas Business Model: Cost Structure

You're looking at the expenses that drive the operations for Rexford Industrial Realty, Inc. (REXR) as of late 2025. These are the costs necessary to maintain, finance, and grow that specialized industrial portfolio in infill Southern California.

Interest Expense is a major component, reflecting the capital structure reliance on debt to acquire and develop properties. The updated full-year 2025 guidance for Net Interest Expense is in the range of $\pm \$105\text{M}$. This compares to the earlier guidance of $\pm \$107\text{M}$. For the trailing twelve months ending September 2025, the reported interest expense was $\$-107.6\text{Mil}$.

General and Administrative (G&A) expenses are tightly managed. The 2025 guidance for Net General and Administrative Expenses remains around $\pm \$82\text{M}$. The reported SG&A expenses for the twelve months ending September 30, 2025, were $\$0.082\text{B}$, and the annual SG&A expense for the latest annual reporting period was listed as $\$82.153\text{M}$.

A significant portion of the G&A is non-cash compensation. The estimated non-cash equity compensation expense included in the 2025 G&A guidance was updated to approximately $\$38.3\text{million}$ as of the third quarter 2025 update, up from the $\$37.3\text{million}$ estimate provided earlier in the year.

The commitment to value creation through physical assets drives substantial capital outlay. Rexford Industrial Realty, Inc. (REXR) allocated $\$275\text{million}$ for repositioning and redevelopment projects for the full year 2025. By the third quarter of 2025, the year-to-date total investment for the 14 stabilized repositioning and redevelopment projects reached $\$492.0\text{million}$.

Property operating expenses-which cover the day-to-day running of the buildings-are a necessary cost, though they are netted out before calculating Net Operating Income (NOI). While specific guidance for just taxes, insurance, and maintenance isn't isolated here, the total operating expenses for the twelve months ending September 30, 2025, were reported at $\$0.617\text{B}$.

Here's a quick look at the key expense guidance and related figures for 2025:

Expense Category	Latest 2025 Guidance/Figure	Source Context
Net Interest Expense (Guidance Range)	$\pm \$105\text{M}$	Updated full-year 2025 guidance as of October 2025
Net Interest Expense (TTM)	$\$-107.6\text{Mil}$	Trailing Twelve Months ended September 2025
General and Administrative (G&A) Expenses (Guidance Range)	$\pm \$82\text{M}$	Full-year 2025 guidance
Non-cash Equity Compensation Expense (Estimate)	$\$38.3\text{million}$	Included in 2025 G&A guidance as of Q3 2025
Total Property Operating Expenses (TTM)	$\$0.617\text{B}$	Twelve months ending September 30, 2025
Repositioning/Redevelopment Spend (Allocated)	$\$275\text{million}$	Initial 2025 allocation for projects
Repositioning/Redevelopment Investment (YTD Stabilized)	$\$492.0\text{million}$	Total investment in 14 stabilized projects as of Q3 2025

The costs associated with maintaining and growing the portfolio can be broken down by their nature:

• Financing Costs: Significant interest expense, with the latest full-year 2025 guidance at $\pm \$105\text{M}$.
• Personnel and Overhead: G&A expenses guided to $\pm \$82\text{M}$.
• Equity Incentives: Non-cash equity compensation estimated at $\$38.3\text{million}$.
• Property Management: Property operating expenses, which include taxes, insurance, and maintenance, are part of the total operating expenses of $\$0.617\text{B}$ for the TTM ending September 2025.
• Value Creation Investment: Capital expenditures for repositioning and redevelopment, with a planned spend of $\$275\text{million}$ for 2025.

Finance: draft 13-week cash view by Friday.

Rexford Industrial Realty, Inc. (REXR) - Canvas Business Model: Revenue Streams

You're looking at the hard numbers driving Rexford Industrial Realty, Inc. (REXR)'s top line as of late 2025. This is where the money comes from, plain and simple.

Rental income from industrial property leases is the bedrock of Rexford Industrial Realty, Inc. (REXR)'s revenue. It's the steady stream you expect from a specialized industrial REIT focused on infill Southern California assets. Still, the company actively supplements this with capital recycling activities.

The business model incorporates several distinct revenue components, which you can see detailed below:

• Rental income from industrial property leases (primary source)
• Gains on sale of real estate (dispositions)
• Tenant reimbursements for operating expenses

For the nine months ended September 30, 2025, the reported gains on sale of real estate totaled $86.1 million. This compares to $18.0 million in the prior year period for the same nine months. Specifically for the third quarter of 2025, Rexford Industrial Realty, Inc. (REXR) disposed of three properties for an aggregate sales price of $53.6 million.

Here's a quick look at the key financial figures related to the revenue and performance outlook:

Metric	Value	Period/Context
Consensus Full-Year 2025 Revenue Estimate	$998.48 million	Current Fiscal Year Estimate (as of Q3 2025)
Reported Q3 2025 Revenue	$253.24 million	Quarter Ended September 30, 2025
Gains on Sale of Real Estate (9 Months Ended Sep 30, 2025)	$86.1 million	Year-to-Date 2025
Gains on Sale of Real Estate (Q3 2025 Dispositions)	$53.6 million	Third Quarter 2025
Core FFO per Diluted Share Guidance	$2.39-$2.41	Full Year 2025 Guidance

To be fair, the trailing twelve-month revenue as of Sep 30, 2025, is best approximated by the consensus estimate for the full 2025 fiscal year, which stands at $998.48 million. This number reflects the core rental income plus any recurring or realized non-rental revenue streams up to that point. Also, the company's Core FFO per diluted share guidance for 2025 is set in the range of $2.39-$2.41, showing management's confidence in the underlying profitability derived from these revenue sources.

Finance: draft 13-week cash view by Friday.