LOS ANGELES, April 28, 2021 /PRNewswire/ -- Rexford
Industrial Realty, Inc. (the "Company" or "Rexford Industrial")
(NYSE: REXR), a real estate investment trust focused on creating
value by investing in and operating industrial properties located
in Southern California infill
markets, today announced the Company published its 2020
Environmental, Social and Governance ("ESG") Report.
"Rexford is proud to issue our annual ESG report demonstrating
the best-in-class environmental, social and governance impacts
integral to our business purpose and values," stated Michael Frankel and Howard Schwimmer, Co-Chief Executive Officers of
the Company. "Our highly-focused business strategy cultivates deep
collaboration made great by the diversity and quality of our team.
Rexford's differentiated business model drives value creation by
repositioning, recycling and renovating industrial buildings,
substantially enhancing functionality and reducing the carbon
footprint of our assets, which generates game-changing community
health and welfare benefits. Whereas some companies recycle
paper, we recycle buildings and rejuvenate communities! As we
progress forward, our opportunity to achieve positive impact is
massive as our target infill Southern
California market is larger than the vast majority of
countries, comprising nearly two billion square feet of
predominately vintage industrial property replete with
opportunities to deliver extraordinary environmental, social and
related stakeholder benefits."
Key 2020 ESG Report highlights include these positive Rexford
impacts:
- Dramatic environmental, social and community benefits produced
through our property-level work and recycling of industrial
buildings which reduced demolition and landfill disposal by 152,000
tons, generated embodied carbon savings of 22,000 metric tons, plus
energy efficiency improvements that diminished carbon emissions
equivalent to removing 25,000 cars from our roads.
- Community transformation by converting under-utilized, blighted
or unsafe urban, infill properties into modern, highly functional
industrial buildings, breathing new life into communities by
enabling high quality jobs, generating incremental tax revenues and
improving employee and neighborhood health and productivity.
- Over two billion dollars of net
present value ("NPV") creation resulting from our environmental and
social impacts, quantified through a unique cost-benefit analyses,
further validating the significant positive impact of our strategic
focus.
- An internal human capital focus and culture defined by mutual
respect where the development and diversity of our people are
prioritized as the greatest determinants of our future
success.
- Exciting goals and opportunities as we move forward to amplify
the results of our ESG priorities in areas of climate change,
environmental impact, community impact and engagement, diversity
and inclusion, governance and ethics.
The full report can be found under the ESG section of the
Company's website at https://www.rexfordindustrial.com/ESG.
About Rexford Industrial
Rexford Industrial, a real estate investment trust focused on
creating value by investing in and operating industrial properties
throughout Southern California
infill markets, owns 259 properties with approximately 32.2 million
rentable square feet and manages an additional 20 properties with
approximately 1.0 million rentable square feet.
For additional information,
visit www.rexfordindustrial.com.
Forward-Looking Statements
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, 2020 and the
Current Report on Form 8-K filed with the SEC on or about the date
of this press release. 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.
Contact:
Investor Relations
Kosta Karmaniolas
310-691-5475
kkarmaniolas@rexfordindustrial.com
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SOURCE Rexford Industrial Realty, Inc.