LOS ANGELES, April 15, 2019 /PRNewswire/ -- Rexford Industrial Realty, Inc. (the "Company" or "Rexford Industrial") (REXR), a real estate investment trust focused on owning and operating industrial properties located in Southern California infill markets, today announced that the Company has released its inaugural Environmental, Social and Governance ("ESG") Report for 2019. Rexford is committed to creating value for its customers, shareholders, employees and the broader communities in which it operates by employing a value-driven business model focused on delivering significant economic, environmental and social benefits. The Company's ESG report outlines the Company's efforts in these key areas and their positive impacts for Rexford's employees and the broader stakeholder communities.
"Rexford's historically strong financial and operational performance is well documented through our Company disclosures. However, our entrepreneurial, value-driven business model is designed to deliver not only superior economic results, but to also create value through investment in our people, our environment and our communities. We are very pleased to present our inaugural ESG report highlighting the long term environmental and social benefits derived through the execution of our strategy, which includes third party environmental and economic analyses and property-level case studies. As we look ahead, we remain committed to creating value responsibly as we capitalize on the substantial market opportunity before us by investing in the Southern California infill industrial property sector, the largest and most vibrant industrial market in the U.S.," stated Michael Frankel and Howard Schwimmer, Co-Chief Executive Officers of the Company.
Key highlights from Rexford's 2019 Environmental, Social and Corporate Governance Report include:
- Enhanced sustainability and reduced environmental impact associated with the Company's infill Southern California focus;
- Reduced carbon and environmental impacts through repositioning and reinvention of existing buildings wherein existing building structures are recycled rather than disposed of in landfills and replaced with ground-up new construction;
- Value-add renovation and repositioning work that creates additional warehouse capacity within the nation's largest first- and last-mile distribution market, resolving a significant supply bottleneck that optimizes environmental impact and social outcomes;
- Increased community welfare, safety and opportunity by investing in under-served urban infill communities to transform blighted, dysfunctional or unsafe locations into highly-functional industrial properties supporting thriving enterprises that create quality local jobs; and,
- The creation and development of an internal Rexford Industrial team that reflects the diversity of the Company's tenants and markets, providing opportunities for learning, innovation and advancement in a work environment defined by mutual respect and shared ownership in the Company.
The full report can be found on the ESG page of the Our Story section of the Company's website at www.rexfordindustrial.com
About Rexford Industrial
Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 182 properties with approximately 22.4 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.
For additional information, visit www.rexfordindustrial.com.
This press release may contain forward-looking statements within the meaning of the federal securities laws, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. While forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, they are not guarantees of future performance. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the reports and other filings by the Company with the U.S. Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2018. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes.
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