Rexford Industrial Realty (REXR) 10-K 16 Feb 22 2021 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2021	Feb. 14, 2022	Jun. 30, 2021
Entity Listings [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-36008
Entity Registrant Name	Rexford Industrial Realty, Inc.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	46-2024407
Entity Address, Address Line One	11620 Wilshire Boulevard, Suite 1000
Entity Address, City or Town	Los Angeles
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90025
City Area Code	310
Local Phone Number	966-1680
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 7.8
Entity Common Stock, Shares Outstanding (shares)		160,536,236
Documents Incorporated by Reference	Portions of the registrant’s definitive proxy statement with respect to its 2022 Annual Meeting of Stockholders to be filed not later than 120 days after the end of the registrant’s fiscal year are incorporated by reference into Part III of this Form 10-K.
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Central Index Key	0001571283
Common Stock
Entity Listings [Line Items]
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	REXR
Security Exchange Name	NYSE
Series B Preferred Stock
Entity Listings [Line Items]
Title of 12(b) Security	5.875% Series B Cumulative Redeemable Preferred Stock
Trading Symbol	REXR-PB
Security Exchange Name	NYSE
Series C Preferred Stock
Entity Listings [Line Items]
Title of 12(b) Security	5.625% Series C Cumulative Redeemable Preferred Stock
Trading Symbol	REXR-PC
Security Exchange Name	NYSE

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2021
Audit Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	Los Angeles, California
Auditor Firm ID	42

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
ASSETS
Land	$ 4,143,021	$ 2,636,816
Buildings and improvements	2,588,836	2,201,187
Tenant improvements	127,708	84,462
Furniture, fixtures, and equipment	132	132
Construction in progress	71,375	25,358
Total real estate held for investment	6,931,072	4,947,955
Accumulated depreciation	(473,382)	(375,423)
Investments in real estate, net	6,457,690	4,572,532
Cash and cash equivalents	43,987	176,293
Restricted cash	11	1,230
Rents and other receivables, net	11,027	10,208
Deferred rent receivable, net	61,511	40,893
Deferred leasing costs, net	32,940	23,148
Deferred loan costs, net	1,961	2,240
Acquired lease intangible assets, net	132,158	92,172
Acquired indefinite-lived intangible	5,156	5,156
Other assets	19,066	14,390
Acquisition related deposits	8,445	4,067
Assets associated with real estate held for sale, net	7,213	8,845
Total Assets	6,781,165	4,951,174
Liabilities
Notes payable	1,399,565	1,216,160
Interest rate swap liability	7,482	17,580
Accounts payable, accrued expenses and other liabilities	65,833	45,384
Dividends and distributions payable	40,143	29,747
Acquired lease intangible liabilities, net	127,017	67,256
Tenant security deposits	57,370	31,602
Prepaid rents	15,829	12,660
Liabilities associated with real estate held for sale	231	193
Total Liabilities	1,713,470	1,420,582
Rexford Industrial Realty, Inc. stockholders’ equity
Common Stock, $0.01 par value per share, 489,950,000 authorized and 160,511,482 and 131,426,038 shares outstanding at December 31, 2021 and December 31, 2020, respectively	1,605	1,313
Additional paid in capital	4,828,292	3,182,599
Cumulative distributions in excess of earnings	(191,120)	(163,389)
Accumulated other comprehensive loss	(9,874)	(17,709)
Total stockholders’ equity	4,784,579	3,245,141
Noncontrolling interests	283,116	285,451
Total Equity	5,067,695	3,530,592
Total Liabilities and Equity	6,781,165	4,951,174
5.875% series A cumulative redeemable preferred stock, zero and 3,600,000 shares outstanding at December 31, 2021 and December 31, 2020, respectively ($90,000 liquidation preference)
Rexford Industrial Realty, Inc. stockholders’ equity
Preferred stock, $0.01 par value per share, 10,050,000 shares authorized:	0	86,651
5.875% series B cumulative redeemable preferred stock, 3,000,000 shares outstanding at December 31, 2021 and December 31, 2020 ($75,000 liquidation preference)
Rexford Industrial Realty, Inc. stockholders’ equity
Preferred stock, $0.01 par value per share, 10,050,000 shares authorized:	72,443	72,443
5.625% series C cumulative redeemable preferred stock, 3,450,000 shares outstanding at December 31, 2021 and December 31, 2020 ($86,250 liquidation preference)
Rexford Industrial Realty, Inc. stockholders’ equity
Preferred stock, $0.01 par value per share, 10,050,000 shares authorized:	$ 83,233	$ 83,233

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Shares authorized (shares)	10,050,000	10,050,000
Shares outstanding (shares)	6,450,000	10,050,000
Liquidation Preference	$ 161,250,000	$ 251,250,000
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (shares)	489,950,000	489,950,000
Common stock, shares outstanding (shares)	160,511,482	131,426,038
Series A Preferred Stock
Dividend Rate	5.875%	5.875%
Shares outstanding (shares)	0	3,600,000
Liquidation Preference	$ 90,000,000	$ 90,000,000
Series B Preferred Stock
Dividend Rate	5.875%	5.875%
Shares outstanding (shares)	3,000,000	3,000,000
Liquidation Preference	$ 75,000,000	$ 75,000,000
Series C Preferred Stock
Dividend Rate	5.625%	5.625%
Shares outstanding (shares)	3,450,000	3,450,000
Liquidation Preference	$ 86,250,000	$ 86,250,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
REVENUES
Rental income	$ 451,733	$ 329,377	$ 264,252
Management, leasing and development services	468	420	406
Interest income	37	338	2,555
TOTAL REVENUES	452,238	330,135	267,213
OPERATING EXPENSES
Property expenses	107,721	79,716	63,272
General and administrative	48,990	36,795	30,300
Depreciation and amortization	151,269	115,269	98,891
TOTAL OPERATING EXPENSES	307,980	231,780	192,463
OTHER EXPENSES
Other expenses	1,297	124	171
Interest expense	40,139	30,849	26,875
TOTAL EXPENSES	349,416	262,753	219,509
Loss on extinguishment of debt	(505)	(104)	0
Gain on sale of real estate	33,929	13,617	16,297
NET INCOME	136,246	80,895	64,001
Less: net income attributable to noncontrolling interests	(8,005)	(4,492)	(2,022)
NET INCOME ATTRIBUTABLE TO REXFORD INDUSTRIAL REALTY, INC.	128,241	76,403	61,979
Less: preferred stock dividends	(12,563)	(14,545)	(11,055)
Preferred Stock Redemption Premium	(3,349)	0	0
Less: earnings allocated to participating securities	(568)	(509)	(447)
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS	$ 111,761	$ 61,349	$ 50,477
Net income attributable to common stockholders per share - basic (in dollars per share)	$ 0.80	$ 0.51	$ 0.47
Net income attributable to common stockholders per share - diluted (in dollars per share)	$ 0.80	$ 0.51	$ 0.47
Weighted average shares of common stock outstanding - basic (in shares)	139,294,882	120,873,624	106,407,283
Weighted average shares of common stock outstanding - diluted (in shares)	140,075,689	121,178,310	106,799,048

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 136,246	$ 80,895	$ 64,001
Other comprehensive income (loss): cash flow hedge adjustment	8,333	(10,880)	(14,141)
Comprehensive income	144,579	70,015	49,860
Less: comprehensive income attributable to noncontrolling interests	(8,503)	(3,779)	(1,685)
Comprehensive income attributable to Rexford Industrial Realty, Inc.	$ 136,076	$ 66,236	$ 48,175

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Series C Preferred Stock	Cumulative Effect, Period of Adoption, Adjustment	Total Stockholders’ Equity	Total Stockholders’ EquitySeries C Preferred Stock	Total Stockholders’ EquityCumulative Effect, Period of Adoption, Adjustment	Preferred Stock	Preferred StockSeries C Preferred Stock	Common Stock	Additional Paid-in Capital	Cumulative Distributions in Excess of Earnings	Cumulative Distributions in Excess of EarningsCumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests
Beginning Balance at Dec. 31, 2018	$ 1,908,423		$ (222)	$ 1,876,094		$ (222)	$ 159,094		$ 966	$ 1,798,113	$ (88,341)	$ (222)	$ 6,262	$ 32,329
Beginning Balance, (in shares) at Dec. 31, 2018									96,810,504
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock	649,291	$ 86,250		649,291	$ 86,250			$ 86,250	$ 168	649,123
Issuance of stock (shares)									16,817,930
Offering costs	(13,408)			(13,408)			(3,017)			(10,391)
Issuance of OP units	27,359													27,359
Share-based compensation	10,930			2,353					$ 1	2,352				8,577
Share-based compensation (shares)									93,424
Shares acquired to satisfy employee tax withholding requirements on vesting restricted stock	(854)			(854)						(854)
Shares acquired to satisfy employee tax withholding requirements on vesting restricted stock (shares)									(24,618)
Conversion of OP Units to common stock	0			665					$ 1	664				(665)
Conversion of units to common stock (shares)									96,060
Net income	64,001			61,979			11,055				50,924			2,022
Other comprehensive income	(14,141)			(13,804)									(13,804)	(337)
Dividends, Preferred Stock	(11,055)			(11,055)			(11,055)
Preferred unit distributions	(870)													(870)
Dividends, Common Stock	(81,112)			(81,112)							(81,112)
Common unit distributions	(2,143)													(2,143)
Ending Balance at Dec. 31, 2019	2,622,449			2,556,177			242,327		$ 1,136	2,439,007	(118,751)		(7,542)	66,272
Ending Balance, (in shares) at Dec. 31, 2019									113,793,300
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock	739,983			739,983					$ 173	739,810
Issuance of stock (shares)									17,253,161
Offering costs	(5,887)			(5,887)			0			(5,887)
Issuance of OP units	179,262													179,262
Share-based compensation	13,094			3,291					$ 1	3,290				9,803
Share-based compensation (shares)									110,737
Shares acquired to satisfy employee tax withholding requirements on vesting restricted stock	(1,278)			(1,278)						(1,278)
Shares acquired to satisfy employee tax withholding requirements on vesting restricted stock (shares)									(27,473)
Conversion of OP Units to common stock	0			7,660					$ 3	7,657				(7,660)
Conversion of units to common stock (shares)									296,313
Net income	80,895			76,403			14,545				61,858			4,492
Other comprehensive income	(10,880)			(10,167)									(10,167)	(713)
Dividends, Preferred Stock	(14,545)			(14,545)			(14,545)
Preferred unit distributions	(2,546)													(2,546)
Dividends, Common Stock	(106,496)			(106,496)							(106,496)
Common unit distributions	(4,246)													(4,246)
Issuance of cumulative redeemable convertible preferred units	40,787													40,787
Ending Balance at Dec. 31, 2020	$ 3,530,592			3,245,141			242,327		$ 1,313	3,182,599	(163,389)		(17,709)	285,451
Ending Balance, (in shares) at Dec. 31, 2020	131,426,038								131,426,038
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock	$ 1,644,697			1,644,697					$ 286	1,644,411
Issuance of stock (shares)	6,683,216								28,484,776
Offering costs	$ (18,606)			(18,606)						(18,606)
Share-based compensation	19,863			3,856					$ 1	3,855				16,007
Share-based compensation (shares)									108,774
Shares acquired to satisfy employee tax withholding requirements on vesting restricted stock	(1,428)			(1,428)						(1,428)
Shares acquired to satisfy employee tax withholding requirements on vesting restricted stock (shares)									(29,305)
Conversion of OP Units to common stock	0			17,466					$ 5	17,461				(17,466)
Conversion of units to common stock (shares)									521,199
Net income	136,246			128,241			12,563				115,678			8,005
Other comprehensive income	8,333			7,835									7,835	498
Dividends, Preferred Stock	(12,563)			(12,563)			(12,563)
Preferred unit distributions	(2,832)													(2,832)
Dividends, Common Stock	(140,060)			(140,060)							(140,060)
Common unit distributions	(6,547)													(6,547)
Redemption of 5.875% series A preferred stock	(90,000)			(90,000)			(86,651)				(3,349)
Ending Balance at Dec. 31, 2021	$ 5,067,695			$ 4,784,579			$ 155,676		$ 1,605	$ 4,828,292	$ (191,120)		$ (9,874)	$ 283,116
Ending Balance, (in shares) at Dec. 31, 2021	160,511,482								160,511,482

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Common stock dividends declared (in dollars per share)	$ 0.96	$ 0.86	$ 0.74
Series C Preferred Stock
Dividend Rate	5.625%	5.625%	5.625%
Preferred stock dividends declared (in dollars per share)	$ 1.406252	$ 1.406252	$ 0.394531
Series 1 CPOP Units
Dividend Rate			4.43937%
Series A Preferred Stock
Dividend Rate	5.875%	5.875%
Preferred stock dividends declared (in dollars per share)	$ 0.917970	$ 1.468752	$ 1.468752
Series B Preferred Stock
Dividend Rate	5.875%	5.875%
Preferred stock dividends declared (in dollars per share)	$ 1.468752	$ 1.468752	$ 1.468752
Series 2 CPOP Units
Dividend Rate		4.00%

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 136,246	$ 80,895	$ 64,001
Adjustments to reconcile net income to net    cash provided by operating activities:
Depreciation and amortization	151,269	115,269	98,891
Amortization of (below) above market lease intangibles, net	(15,443)	(10,533)	(7,907)
Impairment of right-of-use asset	992	0
Loss on extinguishment of debt	505	104	0
Gain on sale of real estate	(33,929)	(13,617)	(16,297)
Amortization of debt issuance costs	1,919	1,505	1,383
Amortization of (premium) discount on notes payable, net	26	(188)	6
Equity based compensation expense	19,506	12,871	10,756
Straight-line rent	(20,903)	(11,406)	(7,588)
Payments for termination/settlement of interest rate derivatives	(4,045)	(1,239)	0
Amortization related to termination/settlement of interest rate derivatives	2,280	218	0
Change in working capital components:
Rents and other receivables	(745)	(4,030)	(875)
Deferred leasing costs	(17,473)	(10,447)	(8,317)
Other assets	(6,357)	(2,352)	1,024
Sales-type lease receivable	0	20,302	0
Accounts payable, accrued expenses and other liabilities	11,895	4,825	1,573
Tenant security deposits	6,776	(415)	2,855
Prepaid rents	(1,056)	1,232	9
Net cash provided by operating activities	231,463	182,994	139,514
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of investments in real estate	(1,858,413)	(928,687)	(943,382)
Capital expenditures	(102,475)	(78,765)	(47,169)
Payment for deposits on real estate acquisitions	(8,445)	(4,067)	(14,526)
Proceeds from sale of real estate	56,566	23,996	32,335
Net cash used in investing activities	(1,912,767)	(987,523)	(972,742)
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of preferred stock, net	0	0	83,233
Redemption of preferred stock	(90,000)	0	0
Issuance of common stock, net	1,626,091	734,096	638,900
Proceeds from borrowings	1,264,557	471,844	135,000
Repayment of borrowings	(1,095,280)	(175,671)	(35,158)
Debt issuance costs	(4,555)	(6,085)	(143)
Dividends paid to preferred stockholders	(12,563)	(14,545)	(11,055)
Dividends paid to common stockholders	(129,793)	(99,292)	(75,550)
Distributions paid to common unitholders	(6,418)	(3,328)	(2,019)
Distributions paid to preferred unitholders	(2,832)	(2,546)	(870)
Repurchase of common shares to satisfy employee tax withholding requirements	(1,428)	(1,278)	(854)
Net cash provided by financing activities	1,547,779	903,195	731,484
Increase (decrease) in cash, cash equivalents and restricted cash	(133,525)	98,666	(101,744)
Cash, cash equivalents and restricted cash, beginning of period	177,523	78,857	180,601
Cash, cash equivalents and restricted cash, end of period	43,998	177,523	78,857
Supplemental disclosure of cash flow information:
Cash paid for interest (net of capitalized interest of $4,550, $3,925 and $3,860 for the years December 31, 2021, 2020 and 2019, respectively)	32,979	27,924	23,494
Operating lease right-of-use assets obtained in exchange for lease liabilities upon adoption of ASC 842 on January 1, 2019	0	0	3,262
Operating lease right-of-use assets obtained in exchange for lease liabilities subsequent to January 1, 2019	0	3,204	3,457
Assumption of debt in connection with acquisition of real estate including loan premium	16,512	65,264	0
Accrual for capital expenditures	15,700	11,811	6,407
Accrual of dividends and distributions	40,143	29,747	21,624
Lease reclassification from operating lease to sales-type lease:
Sales-type lease receivable	0	20,302	0
Investments in real estate, net	0	(16,117)	0
Deferred rent receivable, net	0	(63)	0
Deferred leasing costs, net	0	(164)	0
Acquired lease intangible assets, net	0	(136)	0
Gain on sale recognized due to lease classification	0	3,822	0
Series 2 CPOP Units
Supplemental disclosure of cash flow information:
Issuance of preferred units in connection with acquisition of real estate	0	40,787	0
Series 1 CPOP Units
Supplemental disclosure of cash flow information:
Issuance of preferred units in connection with acquisition of real estate	0	0	27,359
Operating Partnership Units
Supplemental disclosure of cash flow information:
Issuance of preferred units in connection with acquisition of real estate	$ 0	$ 179,262	$ 0

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Capitalized interest, net	$ 4,550	$ 3,925	$ 3,860
Series 2 CPOP Units
Dividend Rate		4.00%
Series 1 CPOP Units
Dividend Rate			4.43937%

Organization

Organization	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Rexford Industrial Realty, Inc. is a self-administered and self-managed full-service real estate investment trust (“REIT”) focused on owning and operating industrial properties in Southern California infill markets. We were formed as a Maryland corporation on January 18, 2013, and Rexford Industrial Realty, L.P. (the “Operating Partnership”), of which we are the sole general partner, was formed as a Maryland limited partnership on January 18, 2013. Through our controlling interest in our Operating Partnership and its subsidiaries, we own, manage, lease, acquire and develop industrial real estate principally located in Southern California infill markets, and from time to time, acquire or provide mortgage debt secured by industrial property. As of December 31, 2021, our consolidated portfolio consisted of 296 properties with approximately 36.9 million rentable square feet. In addition, we currently manage an additional 20 properties with approximately 1.0 million rentable square feet. The terms “us,” “we,” “our,” and the “Company” as used in these financial statements refer to Rexford Industrial Realty, Inc. and, unless the context requires otherwise, its subsidiaries (including our Operating Partnership).

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation and Principles of Consolidation The accompanying financial statements are the consolidated financial statements of Rexford Industrial Realty, Inc. and its subsidiaries, including our Operating Partnership. All significant intercompany balances and transactions have been eliminated in the consolidated financial statements. Under consolidation guidance, we have determined that our Operating Partnership is a variable interest entity because the holders of limited partnership interests do not have substantive kick-out rights or participating rights. Furthermore, we are the primary beneficiary of the Operating Partnership because we have the obligation to absorb losses and the right to receive benefits from the Operating Partnership and the exclusive power to direct the activities of the Operating Partnership. As of December 31, 2021 and 2020, the assets and liabilities of the Company and the Operating Partnership are substantially the same, as the Company does not have any significant assets other than its investment in the Operating Partnership. The accompanying consolidated financial statements have been prepared in conformity with U.S. Generally Accepted Accounting Principles (“GAAP”) as established by the Financial Accounting Standards Board (“FASB”) in the Accounting Standards Codification (“ASC”) including modifications issued under Accounting Standards Updates (“ASUs”). Any reference to the number of properties, buildings and square footage are unaudited and outside the scope of our independent auditor’s audit of our financial statements in accordance with the standards of the Public Company Accounting Oversight Board. Reclassifications Certain prior year amounts in the consolidated financial statements have been reclassified to conform to the current year presentation. These reclassifications relate to acquisition expenses for all the prior years presented that have been reclassified to “Other expenses” to conform to the current year’s presentation and they have no effect on net income or stockholders’ equity as previously reported. Other expenses for the year ended December 31, 2021 include (i) a $1.0 million impairment charge to reduce the right-of-use asset carrying value of one of our leased office spaces that we decided to sublease as a result of the implementation of a work from home flexibility program in 2021, (ii) $0.2 million of construction costs related to cancelled projects and (iii) $0.1 million of acquisition expenses. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Cash and Cash Equivalents Cash and cash equivalents include all cash and liquid investments with an initial maturity of three months or less. The carrying amount approximates fair value due to the short-term maturity of these investments. Restricted Cash Restricted cash is comprised of escrow reserves that we are required to set aside for future costs as required by certain agreements with our lenders, and from time to time, includes cash proceeds from property sales that are being held by qualified intermediaries for purposes of facilitating tax-deferred like-kind exchanges under Section 1031 of the Internal Revenue Code of 1986, as amended (the “Code”). Restricted cash balances are included with cash and cash equivalent balances as of the beginning and ending of each period presented in the consolidated statements of cash flows. The following table provides a reconciliation of our cash and cash equivalents and restricted cash at the beginning and end of the years ended December 31, 2021 and 2020 (in thousands): Year Ended December 31, 2021 2020 Cash and cash equivalents $ 176,293 $ 78,857 Restricted cash 1,230 — Cash, cash equivalents and restricted cash, beginning of period $ 177,523 $ 78,857 Cash and cash equivalents $ 43,987 $ 176,293 Restricted cash 11 1,230 Cash, cash equivalents and restricted cash, end of period $ 43,998 $ 177,523 Investments in Real Estate Acquisitions We account for acquisitions of properties under ASU 2017-01, Business Combinations–Clarifying the Definition of a Business , which provides a framework for determining whether transactions should be accounted for as acquisitions of assets or businesses and further revises the definition of a business. Our acquisitions of properties generally no longer meet the revised definition of a business and accordingly are accounted for as asset acquisitions. For asset acquisitions, we allocate the cost of the acquisition, which includes the purchase price and associated acquisition transaction costs, to the individual assets acquired and liabilities assumed on a relative fair value basis. These individual assets and liabilities typically include land, building and improvements, tenant improvements, intangible assets and liabilities related to above- and below-market leases, intangible assets related to in-place leases, and from time to time, assumed mortgage debt. As there is no measurement period concept for an asset acquisition, the allocated cost of the acquired assets is finalized in the period in which the acquisition occurs. We determine the fair value of the tangible assets of an acquired property by valuing the property as if it were vacant. This “as-if vacant” value is estimated using an income, or discounted cash flow, approach that relies upon Level 3 inputs, which are unobservable inputs based on the Company’s assumptions with respect to the assumptions a market participant would use. These Level 3 inputs include discount rates, capitalization rates, market rental rates and comparable sales data for similar properties. Estimates of future cash flows are based on a number of factors including historical operating results, known and anticipated trends, and market and economic conditions. In determining the “as-if-vacant” value for the properties we acquired during the year ended December 31, 2021, we used discount rates ranging from 5.00% to 7.75% and exit capitalization rates ranging from 4.00% to 6.50%. In determining the fair value of intangible lease assets or liabilities, we also consider Level 3 inputs. Acquired above- and below-market leases are valued based on the present value of the difference between prevailing market rental rates and the in-place rental rates measured over a period equal to the remaining term of the lease for above-market leases and the initial term plus the term of any below-market fixed rate renewal options for below-market leases, if applicable. The estimated fair value of acquired in-place at-market tenant leases are the estimated costs that would have been incurred to lease the property to the occupancy level of the property at the date of acquisition. We consider estimated costs such as the value associated with leasing commissions, legal and other costs, as well as the estimated period of time necessary to lease such a property to its occupancy level at the time of its acquisition. In determining the fair value of acquisitions completed during the year ended December 31, 2021, we used an estimated average lease-up period ranging from six months to twelve months. The difference between the fair value and the face value of debt assumed, if any, in connection with an acquisition is recorded as a premium or discount and amortized to “interest expense” over the life of the debt assumed. The valuation of assumed liabilities are based on our estimate of the current market rates for similar liabilities in effect at the acquisition date. In determining the fair value of debt assumed during the year ended December 31, 2021, we used estimated market interest rates ranging from 3.75% to 4.50%. Capitalization of Costs We capitalize direct costs incurred in developing, renovating, rehabilitating and improving real estate assets as part of the investment basis. This includes certain general and administrative costs, including payroll, bonus, and non-cash equity compensation of the personnel performing redevelopment, renovations and rehabilitation if such costs are identifiable to a specific activity to get the real estate asset ready for its intended use. During the redevelopment and construction periods of a project, we also capitalize interest, real estate taxes and insurance costs. We cease capitalization of costs upon substantial completion of the project, but no later than one year from cessation of major construction activity. If some portions of a project are substantially complete and ready for use and other portions have not yet reached that stage, we cease capitalizing costs on the completed portion of the project but continue to capitalize for the incomplete portion of the project. Costs incurred in making repairs and maintaining real estate assets are expensed as incurred. We capitalized interest costs of $4.5 million, $3.9 million and $3.9 million during the years ended December 31, 2021, 2020 and 2019, respectively. We capitalized real estate taxes and insurance aggregating $2.2 million, $1.2 million, and $1.3 million and during the years ended December 31, 2021, 2020 and 2019, respectively. We capitalized compensation costs for employees who provide construction services of $6.1 million, $4.1 million and $2.7 million during the years ended December 31, 2021, 2020 and 2019, respectively. Depreciation and Amortization Real estate, including land, building and land improvements, tenant improvements, furniture, fixtures and equipment and intangible lease assets and liabilities are stated at historical cost less accumulated depreciation and amortization, unless circumstances indicate that the cost cannot be recovered, in which case, the carrying value of the property is reduced to estimated fair value as discussed below in our policy with regard to impairment of long-lived assets. We estimate the depreciable portion of our real estate assets and related useful lives in order to record depreciation expense. The values allocated to buildings, site improvements, in-place lease intangibles and tenant improvements are depreciated on a straight-line basis using an estimated remaining life of 10-30 years for buildings, 5-20 years for site improvements, and the shorter of the estimated useful life or respective lease term for in-place lease intangibles and tenant improvements. As discussed above in— Investments in Real Estate — Acquisitions , in connection with property acquisitions, we may acquire leases with rental rates above or below the market rental rates. Such differences are recorded as an acquired lease intangible asset or liability and amortized to “rental income” over the remaining term of the related leases. Our estimate of the useful life of our assets is evaluated upon acquisition and when circumstances indicate that a change in the useful life has occurred, which requires significant judgment regarding the economic obsolescence of tangible and intangible assets. Assets Held for Sale We classify a property as held for sale when all of the criteria set forth in ASC Topic 360: Property, Plant and Equipment (“ASC 360”) have been met. The criteria are as follows: (i) management, having the authority to approve the action, commits to a plan to sell the property; (ii) the property is available for immediate sale in its present condition, subject only to terms that are usual and customary; (iii) an active program to locate a buyer and other actions required to complete the plan to sell have been initiated; (iv) the sale of the property is probable and is expected to be completed within one year; (v) the property is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and (vi) actions necessary to complete the plan of sale indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. At the time we classify a property as held for sale, we cease recording depreciation and amortization. A property classified as held for sale is measured and reported at the lower of its carrying amount or its estimated fair value less cost to sell. As of December 31, 2021, our property located at 28159 Avenue Stanford in Valencia, California was classified as held for sale. As of December 31, 2020, our property located at 14723-14825.25 Oxnard Street in Van Nuys, California was classified as held for sale. Impairment of Long-Lived Assets In accordance with the provisions of the Impairment or Disposal of Long-Lived Assets Subsections of ASC 360, we assess the carrying values of our respective long-lived assets, including right-of-use assets (“ROU assets”), whenever events or changes in circumstances indicate that the carrying amounts of these assets may not be fully recoverable. Recoverability of real estate assets and other long-lived assets is measured by comparison of the carrying amount of the asset to the estimated future undiscounted cash flows. To review real estate assets for recoverability, we consider current market conditions as well as our intent with respect to holding or disposing of the asset. The intent with regards to the underlying assets might change as market conditions and other factors change. For office space ROU assets, the execution of a sublease where the remaining lease payments of the original office space lease exceed the sublease receipts reflects an indication of impairment which suggests the carrying value of the ROU asset may not be recoverable. Fair value is determined through various valuation techniques, including discounted cash flow models, applying a capitalization rate to estimated net operating income of a property, quoted market values and third-party appraisals, where considered necessary. The use of projected future cash flows is based on assumptions that are consistent with estimates of future expectations and the strategic plan used to manage our underlying business. If our analysis indicates that the carrying value of the real estate asset and other long-lived assets is not recoverable on an undiscounted cash flow basis, we will recognize an impairment charge for the amount by which the carrying value exceeds the current estimated fair value of the real estate property. Assumptions and estimates used in the recoverability analyses for future cash flows, discount rates and capitalization rates are complex and subjective. Changes in economic and operating conditions or our intent with respect to our investment that occur subsequent to our impairment analyses could impact these assumptions and result in future impairment of our real estate properties. During the years ended December 31, 2021, 2020 or 2019, there were no impairment charges recorded to the carrying value of our real estate properties. During the year ended December 31, 2021, in connection with the execution of a sublease for one of our office space leases, we recorded a $1.0 million impairment charge to reduce the carrying value of the related ROU asset. See “Note 6 – Leases” for details. Income Taxes We have elected to be taxed as a REIT under the Code commencing with our initial taxable year ended December 31, 2013. To qualify as a REIT, we are required (among other things) to distribute at least 90% of our REIT taxable income to our stockholders and meet the various other requirements imposed by the Code relating to matters such as operating results, asset holdings, distribution levels and diversity of stock ownership. Provided we qualify for taxation as a REIT, we are generally not subject to corporate-level income tax on the earnings distributed currently to our stockholders that we derive from our activities. If we fail to qualify as a REIT in any taxable year, and were unable to avail ourselves of certain savings provisions set forth in the Code, all of our taxable income would be subject to regular federal corporate income tax, including any applicable alternative minimum tax. In addition, we are subject to taxation by various state and local jurisdictions, including those in which we transact business or reside. Our non-taxable REIT subsidiaries, including our Operating Partnership, are either partnerships or disregarded entities for federal income tax purposes. Under applicable federal and state income tax rules, the allocated share of net income or loss from disregarded entities and flow-through entities such as partnerships is reportable in the income tax returns of the respective equity holders. Accordingly, no income tax provision is included in the accompanying consolidated financial statements for the years ended December 31, 2021, 2020 and 2019. We periodically evaluate our tax positions to determine whether it is more likely than not that such positions would be sustained upon examination by a tax authority for all open tax years, as defined by the statute of limitations, based on their technical merits. As of December 31, 2021 and 2020, we have not established a liability for uncertain tax positions. Derivative Instruments and Hedging Activities ASC Topic 815: Derivatives and Hedging (“ASC 815”), provides the disclosure requirements for derivatives and hedging activities with the intent to provide users of financial statements with an enhanced understanding of: (a) how and why an entity uses derivative instruments, (b) how the entity accounts for derivative instruments and related hedged items, and (c) how derivative instruments and related hedged items affect an entity’s financial position, financial performance, and cash flows. Further, qualitative disclosures are required that explain the Company’s objectives and strategies for using derivatives, as well as quantitative disclosures about the fair value of and gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative instruments. As required by ASC 815, we record all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, and whether we have elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. We may enter into derivative contracts that are intended to economically hedge certain risks, even though hedge accounting does not apply or we elect not to apply hedge accounting. See “Note 7 – Interest Rate Derivatives” for details. Revenue Recognition Our primary sources of revenue are rental income, management, leasing and development services and gains on sale of real estate. Rental Income We lease industrial space to tenants primarily under non-cancelable operating leases that generally contain provisions for minimum base rents plus reimbursement for certain operating expenses. Total minimum annual lease payments are recognized in rental income on a straight-line basis over the term of the related lease, regardless of when payments are contractually due, when collectability is probable. Rental revenue recognition commences when the tenant takes possession or controls the physical use of the leased space. Lease termination fees, which are included in rental income, are recognized when the related leases are canceled and we have no continuing obligation to provide services to such former tenants. Our lease agreements with tenants generally contain provisions that require tenants to reimburse us for certain property expenses. Estimated reimbursements from tenants for these property expenses, which include real estate taxes, insurance, common area maintenance and other recoverable operating expenses, are recognized as revenues in the period that the expenses are incurred. Subsequent to year-end, we perform final reconciliations on a lease-by-lease basis and bill or credit each tenant for any cumulative annual adjustments. As the timing and pattern of revenue recognition is the same and as the lease component would be classified as an operating lease if it were accounted for separately, rents and tenant reimbursements are treated as a combined lease component and presented as a single line item “Rental income” in our consolidated statements of operations. We record revenues and expenses on a gross basis for lessor costs (which include real estate taxes) when these costs are reimbursed to us by our tenants. Conversely, we record revenues and expenses on a net basis for lessor costs when they are paid by our tenants directly to the taxing authorities on our behalf. COVID-19 Lease Concessions From March 2020 through December 2020, we received rent relief requests from a number of tenants claiming impacts from COVID-19, many of whom we believe may have made such rent relief requests in response to local California governmental moratoriums on commercial tenant evictions and provisions enabling commercial tenants to defer rent. In response to these requests, during 2020 we granted the following forms of rent relief to certain tenants: (a) application of security deposits to contractual base rent, (b) acceleration of future rent concessions in the original lease contract to cover contractual base rent and (c) deferral of contractual base rent with a typical deferral period of approximately one to two months and repayment that was generally scheduled to begin in the third or fourth quarter of 2020. Pursuant to a FASB issued question-and-answer document which addressed frequently asked questions about accounting for concessions related to the effects of the COVID-19 pandemic, we elected to forgo the evaluation of the enforceable rights and obligations of our lease contracts and elected to account for each rent relief agreement granting lease concessions in the form of accelerated future rent concessions and/or rent deferrals as a lease modification under ASC 842. As these lease concessions generally have not substantially changed the amount of consideration in the original lease contract (only the timing of lease payments has changed), these lease concessions have not had a material impact on our consolidated financial statements to date. During 2020, we deferred $4.6 million of contractual base rent payments which represented approximately 1.4% of our total consolidated rental income for 2020. As of December 31, 2021, we have collected approximately $4.3 million, or 98.0%, of the deferred payments due as of December 31, 2021. Additionally, as of December 31, 2021, we had approximately $0.1 million of outstanding deferred payments. Management, leasing and development services We provide property management services and leasing services to related party and third-party property owners, the customer, in exchange for fees and commissions. Property management services include performing property inspections, monitoring repairs and maintenance, negotiating vendor contracts, maintaining tenant relations and providing financial and accounting oversight. For these services, we earn monthly management fees, which are based on a fixed percentage of each managed property’s monthly tenant cash receipts. We have determined that control over the services is passed to the customer simultaneously as performance occurs. Accordingly, management fee revenue is earned as the services are provided to our customers. Leasing commissions are earned when we provide leasing services that result in an executed lease with a tenant. We have determined that control over the services is transferred to the customer upon execution of each lease agreement. We earn leasing commissions based on a fixed percentage of rental income generated for each executed lease agreement and there is no variable income component. Gain or Loss on Sale of Real Estate We account for dispositions of real estate properties, which are considered nonfinancial assets, in accordance with ASC 610-20: Other Income—Gains and Losses from the Derecognition of Nonfinancial Assets and recognize a gain or loss on sale of real estate upon transferring control of the nonfinancial asset to the purchaser, which is generally satisfied at the time of sale. If we were to conduct a partial sale of real estate by transferring a controlling interest in a nonfinancial asset, while retaining a noncontrolling ownership interest, we would measure any noncontrolling interest received or retained at fair value, and recognize a full gain or loss. If we receive consideration before transferring control of a nonfinancial asset, we recognize a contract liability. If we transfer control of the asset before consideration is received, we recognize a contract asset. When leases contain purchase options, we assess the probability that the tenant will execute the purchase option both at lease commencement and at the time the tenant communicates its intent to exercise the purchase option. If we determine the exercise of the purchase option is reasonably certain, we will account for the lease as a sales-type lease and derecognize the associated real estate assets on our balance sheet and record a gain or loss on sale of real estate. Valuation of Operating Lease Receivables We may be subject to tenant defaults and bankruptcies that could affect the collection of outstanding receivables, including deferred rent receivables arising from the straight-line recognition of rental income, related to our operating leases. In order to mitigate these risks, we perform credit reviews and analyses on prospective tenants before significant leases are executed and on existing tenants before properties are acquired. On a quarterly basis, we perform an assessment of the collectability of operating lease receivables on a tenant-by-tenant basis, which includes reviewing the age and nature of our receivables, the payment history and financial condition of the tenant, our assessment of the tenant’s ability to meet its lease obligations and the status of negotiations of any disputes with the tenant. For all periods subsequent to March 2020, our assessment has specifically included the impact of the COVID-19 pandemic, including but not limited to tenants who have requested and/or received rent relief as further described above under “—COVID-19 Lease Concessions.” Any changes in the collectability assessment for an operating lease is recognized as an adjustment, which can be a reduction or increase, to rental income in the consolidated statements of operations. As a result of our quarterly collectability assessments, we recognized $0.5 million, $5.0 million, and $0.7 million for the years ended December 31, 2021, 2020, and 2019 respectively, as a net reduction of rental income in the consolidated statements of operations. Deferred Leasing Costs We capitalize the incremental direct costs of originating a lease that would not have been incurred had the lease not been executed. As a result, deferred leasing costs will generally only include third-party broker commissions. Debt Issuance Costs Debt issuance costs related to a recognized debt liability are presented in the balance sheet as a reduction from the carrying value of the debt liability. This offset against the debt liability is treated similarly to a debt discount, which effectively reduces the proceeds of a borrowing. For line of credit arrangements, we present debt issuance costs as an asset and amortize the cost over the term of the line of credit arrangement. See “Note 5 –Notes Payable” for details. Equity Based Compensation We account for equity-based compensation in accordance with ASC Topic 718 Compensation – Stock Compensation . Total compensation cost for all share-based awards is based on the estimated fair market value of the equity instrument issued on the grant date. For share-based awards that vest based solely on a service condition, we recognize compensation cost on a straight-line basis over the total requisite service period for the entire award. For share-based awards that vest based on a market condition, we recognize compensation cost on a straight-line basis over the requisite service period of each separately vesting tranche. For share-based awards that vest based on a performance condition, we recognize compensation cost based on the number of awards that are expected to vest based on the probable outcome of the performance condition. Compensation cost for these awards will be adjusted to reflect the number of awards that ultimately vest. Forfeitures are recognized in the period in which they occur. See “Note 13 – Incentive Award Plan” for details. Equity Offerings Underwriting commissions and offering costs incurred in connection with common stock offerings and our at-the-market equity program have been reflected as a reduction of additional paid-in capital. Underwriting commissions and offering costs related to our preferred stock issuances have been reflected as a direct reduction of the preferred stock balance. Sales of our common stock under forward equity sale agreements (as discussed in Note 11) meet the derivatives and hedging guidance scope exception to be accounted for as equity instruments based on the following assessment: (i) none of the agreements’ exercise contingencies were based on observable markets or indices besides those related to the market for our own stock price and operations; and (ii) none of the settlement provisions precluded the agreements from being indexed to our own stock. Earnings Per Share We calculate earnings per share (“EPS”) in accordance with ASC 260 – Earnings Per Share (“ASC 260”). Under ASC 260, unvested share-based payment awards that contain non-forfeitable rights to dividends are participating securities and, therefore, are included in the computation of basic EPS pursuant to the two-class method. The two-class method determines EPS for each class of common stock and participating securities according to dividends declared (or accumulated) and their respective participation rights in undistributed earnings. Basic EPS is calculated by dividing the net income (loss) attributable to common stockholders by the weighted average number of shares of common stock outstanding for the period. Diluted EPS is calculated by dividing the net income (loss) attributable to common stockholders by the weighted average number of shares of common stock outstanding determined for the basic EPS computation plus the potential effect of any dilutive securities including shares issuable under forward equity sale agreements and unvested share-based awards under the treasury stock method. We include unvested shares of restricted stock and unvested LTIP units in the computation of diluted EPS by using the more dilutive of the two-class method or treasury stock method. We include unvested performance units as contingently issuable shares in the computation of diluted EPS once the market criteria are met, assuming that the end of the reporting period is the end of the contingency period. Any anti-dilutive securities are excluded from the diluted EPS calculation. See “Note 14 – Earnings Per Share” for details. Segment Reporting Management views the Company as a single reportable segment based on its method of internal reporting in addition to its allocation of capital and resources. Leases as a Lessee We determine if an arrangement is a lease at inception. Operating lease ROU assets are included in “Other assets” and lease liabilities are included in “Accounts payable, accrued expenses and other liabilities” in our consolidated balance sheets. ROU assets represent our right to use, or control the use of, a specified asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are

Investments in Real Estate

Investments in Real Estate	12 Months Ended
	Dec. 31, 2021
Investments, All Other Investments [Abstract]
Investments in Real Estate	Investments in Real Estate Acquisition Summary The following table summarizes the wholly-owned industrial properties we acquired during the year ended December 31, 2021: Property Submarket Date of Acquisition Rentable Square Feet Number of Buildings Contractual Purchase Price (1) (in thousands) 15010 Don Julian Road (2) Los Angeles - San Gabriel Valley 1/5/2021 92,925 1 $ 22,200 5002-5018 Lindsay Court San Bernardino - Inland Empire West 1/11/2021 64,960 1 12,650 514 East C Street (3) Los Angeles - South Bay 1/14/2021 3,436 1 9,950 17907-18001 Figueroa Street Los Angeles - South Bay 1/26/2021 74,810 6 20,200 7817 Woodley Avenue (4) Los Angeles - San Fernando Valley 1/27/2021 36,900 1 9,963 8888-8892 Balboa Avenue (2) San Diego - Central 2/4/2021 86,637 2 19,800 9920-10020 Pioneer Boulevard Los Angeles - Mid-Counties 2/19/2021 157,669 7 23,500 2553 Garfield Avenue Los Angeles - Central 3/19/2021 25,615 1 3,900 6655 East 26th Street Los Angeles - Central 3/19/2021 47,500 1 6,500 560 Main Street Orange County - North 3/19/2021 17,000 1 2,600 4225 Etiwanda Avenue San Bernardino - Inland Empire West 3/23/2021 134,500 1 32,250 12118 Bloomfield Avenue (2) Los Angeles - Mid-Counties 4/14/2021 63,000 4 16,650 256 Alondra Boulevard (3) Los Angeles - South Bay 4/15/2021 2,456 1 11,250 19007 Reyes Avenue (2)(3) Los Angeles - South Bay 4/23/2021 — — 16,350 19431 Santa Fe Avenue (3) Los Angeles - South Bay 4/30/2021 14,793 3 10,500 4621 Guasti Road San Bernardino - Inland Empire West 5/21/2021 64,512 1 13,335 12838 Saticoy Street Los Angeles - San Fernando Valley 6/15/2021 100,390 1 27,250 19951 Mariner Avenue Los Angeles - South Bay 6/15/2021 89,272 1 27,400 East 12th Street Los Angeles - Central 6/17/2021 257,976 4 93,600 29120 Commerce Center Drive Los Angeles - San Fernando Valley 6/22/2021 135,258 1 27,052 20304 Alameda Street Los Angeles - South Bay 6/24/2021 77,758 2 13,500 4181 Ruffin Road San Diego - Central 7/8/2021 150,144 1 35,750 12017 Greenstone Avenue (3) Los Angeles - Mid-Counties 7/16/2021 — 1 13,500 Property Submarket Date of Acquisition Rentable Square Feet Number of Buildings Contractual Purchase Price (1) (in thousands) 1901 Via Burton (2) Orange County - North 7/26/2021 — 1 24,211 1555 Cucamonga Avenue San Bernardino - Inland Empire West 8/4/2021 107,023 2 21,000 1800 Lomita Boulevard (3) Los Angeles - South Bay 8/6/2021 — — 70,000 8210-8240 Haskell Avenue Los Angeles - San Fernando Valley 8/17/2021 53,248 3 12,425 3100 Lomita Boulevard Los Angeles - South Bay 8/20/2021 575,976 5 202,469 (5) 2401-2421 Glassell Street Orange County - North 8/25/2021 191,127 4 70,025 2390-2444 American Way (2) Orange County - North 8/26/2021 — — 16,700 500 Dupont Avenue San Bernardino - Inland Empire West 8/26/2021 276,000 1 58,500 1801 St. Andrew Place Orange County - Airport 9/10/2021 370,374 1 105,300 5772 Jurupa Street San Bernardino - Inland Empire West 9/17/2021 360,000 1 54,000 2500 Victoria Street (3) Los Angeles - South Bay 9/30/2021 — — 232,067 (6) 1010 Belmont Street San Bernardino - Inland Empire West 10/1/2021 61,824 1 14,500 21515 Western Avenue (2)(7) Los Angeles - South Bay 10/12/2021 56,199 1 18,950 12027 Greenstone Avenue (3) Los Angeles - Mid-Counties 10/28/2021 7,780 1 8,125 6027 Eastern Avenue (2) Los Angeles - Central 11/16/2021 82,922 1 23,250 340-344 Bonnie Circle San Bernadino - Inland Empire West 11/16/2021 98,000 1 27,000 14100 Vine Place Los Angeles - Mid Counties 11/18/2021 119,145 1 48,501 2280 Ward Avenue Ventura - Ventura 11/30/2021 242,101 1 46,411 20481 Crescent Bay Drive Orange County - South 11/30/2021 88,355 1 19,500 334 El Encanto Road Los Angeles - San Gabriel Valley 12/02/2021 64,368 1 10,675 17031-17037 Green Drive Los Angeles - San Gabriel Valley 12/10/2021 51,000 1 13,770 13512 Marlay Avenue San Bernadino - Inland Empire West 12/16/2021 199,363 1 51,000 14940 Proctor Road Los Angeles - San Gabriel Valley 12/17/2021 111,927 1 28,596 2800 Casitas Avenue Los Angeles - San Fernando Valley 12/22/2021 117,000 1 43,000 4240 190th Street Los Angeles - South Bay 12/23/2021 307,487 1 75,300 2391-2393 Bateman Avenue Los Angeles - San Gabriel Valley 12/28/2021 65,605 1 23,077 1168 Sherborn Street San Bernardino - Inland Empire West 12/29/2021 79,515 1 23,445 3071 Coronado Street (2) Orange County - North 12/30/2021 109,908 1 28,000 8911 Aviation Blvd Los Angeles - South Bay 12/30/2021 100,000 1 32,000 1020 Bixby Drive Los Angeles - San Gabriel Valley 12/31/2021 56,915 1 16,350 Total 2021 Property Acquisitions 5,650,673 80 $ 1,887,797 (1) Represents the gross contractual purchase price before prorations, closing costs and other acquisition related costs. Each acquisition was funded with available cash on hand unless otherwise noted. (2) Represents acquisition of a current or near-term redevelopment site. (3) Represents acquisition of an industrial outdoor storage site. (4) The acquisition of 7817 Woodley Avenue was funded through a combination of cash on hand and the assumption of $3.2 million of debt. This property is the remaining asset in the Van Nuys Airport Industrial Center Portfolio that we acquired in December 2020. (5) In connection with the acquisition of 3100 Lomita Boulevard, we prepaid an existing loan on the property and incurred a $20.4 million prepayment fee at closing. The acquisition price in the table above reflects this prepayment fee in addition to the $182.0 million contractual purchase price. (6) In connection with the acquisition of 2500 Victoria Street, we entered into a long-term sale lease-back agreement with the seller/tenant. At the end of the lease, the tenant will be required to restore the site by removing all above and below ground improvements to prepare the property for subsequent development by us. The acquisition price in the table above reflects the $217.1 million contractual purchase price plus additional consideration of $15.0 million,which is payable to the tenant at the end of the lease, subject to the tenant completing its restoration obligations under the lease. The $15.0 million has been recorded in security deposits in the consolidated balance sheets. (7) The acquisition of 21515 Western Avenue was funded through a combination of cash on hand and the assumption of $13.2 million of debt. The following table summarizes the wholly-owned industrial properties we acquired during the year ended December 31, 2020: Property Submarket Date of Acquisition Rentable Square Feet Number of Buildings Contractual Purchase Price (1) (in thousands) 701-751 Kingshill Place (2) Los Angeles - South Bay 3/5/2020 169,069 6 $ 33,251 2601-2641 Manhattan Beach Boulevard (2) Los Angeles - South Bay 3/5/2020 126,726 6 39,481 2410-2420 Santa Fe Avenue (2) Los Angeles - South Bay 3/5/2020 112,000 1 35,737 11600 Los Nietos Road (2) Los Angeles - Mid-Counties 3/5/2020 103,982 1 16,626 5160 Richton Street (2) San Bernardino - Inland Empire West 3/5/2020 94,976 1 15,653 2205 126th Street (2) Los Angeles - South Bay 3/5/2020 63,532 1 17,712 11832-11954 La Cienega Boulevard (2) Los Angeles - South Bay 3/5/2020 63,462 4 19,664 7612-7642 Woodwind Drive (2) Orange County - West 3/5/2020 62,377 3 13,780 960-970 Knox Street (2) Los Angeles - South Bay 3/5/2020 39,400 1 9,939 25781 Atlantic Ocean Drive (2) Orange County - South 3/5/2020 27,960 1 5,516 Brady Way (3) Orange County - West 4/1/2020 — — 874 720-750 Vernon Avenue Los Angeles - San Gabriel Valley 4/3/2020 71,692 3 15,515 6687 Flotilla Street Los Angeles - Central 5/5/2020 120,000 1 21,000 1055 Sandhill Avenue Los Angeles - South Bay 5/28/2020 — — 14,453 22895 Eastpark Drive (2) Orange County - North 6/19/2020 34,950 1 6,844 8745-8775 Production Avenue San Diego - Central 6/19/2020 46,820 2 7,850 15580 Slover Avenue San Bernardino - Inland Empire West 6/26/2020 60,127 1 9,958 15650-15700 Avalon Boulevard Los Angeles - South Bay 7/1/2020 166,088 2 28,079 11308-11350 Penrose Street Los Angeles - San Fernando Valley 7/1/2020 151,604 2 25,427 11076-11078 Fleetwood Street Los Angeles - San Fernando Valley 7/1/2020 26,040 1 4,711 11529-11547 Tuxford Street Los Angeles - San Fernando Valley 7/1/2020 29,730 1 5,005 12133 Greenstone Avenue Los Angeles - Mid-Counties 7/17/2020 12,586 1 5,483 12772-12746 San Fernando Road Los Angeles - San Fernando Valley 10/14/2020 140,837 2 22,050 15601 Avalon Boulevard Los Angeles - South Bay 10/26/2020 63,690 2 15,500 Gateway Pointe Industrial Park (4) Los Angeles - Mid-Counties 11/17/2020 989,195 4 296,590 13943-13955 Balboa Boulevard (5) Los Angeles - San Fernando Valley 11/17/2020 200,632 1 45,340 Van Nuys Airport Industrial Center Los Angeles - San Fernando Valley 12/3/2020 426,466 18 154,637 4039 State Street San Bernardino - Inland Empire West 12/4/2020 139,000 1 29,665 10156 Live Oak Avenue San Bernardino - Inland Empire West 12/4/2020 236,912 1 46,814 10694 Tamarind Avenue San Bernardino - Inland Empire West 12/4/2020 99,999 1 22,390 2520 Baseline Road San Bernardino - Inland Empire West 12/4/2020 156,586 1 30,531 12211 Greenstone Avenue Los Angeles - Mid-Counties 12/9/2020 — — 16,800 1921, 2011, 2055, 2099, 2040 East 27th Street Los Angeles - Central 12/15/2020 300,389 4 63,403 2750 & 2800 Alameda Street Los Angeles - Central 12/15/2020 164,026 2 30,369 29010 Avenue Paine (6) Los Angeles - San Fernando Valley 12/31/2020 100,157 1 16,037 29010 Commerce Center Drive (6) Los Angeles - San Fernando Valley 12/31/2020 117,151 1 24,480 13369 Valley Boulevard (6) San Bernardino - Inland Empire West 12/31/2020 105,041 1 20,660 6635 Caballero Boulevard (6) Los Angeles - Mid-Counties 12/31/2020 92,395 1 22,802 1235 South Lewis Street Orange County - North 12/31/2020 62,607 1 16,800 Total 2020 Property Acquisitions 4,978,204 82 $ 1,227,426 (1) Represents the gross contractual purchase price before prorations, closing costs and other acquisition related costs. Each acquisition was funded with available cash on hand unless otherwise noted. (2) On March 5, 2020, we acquired ten properties, and on June 19, 2020, we acquired one additional property, from a group of sellers that were not affiliated with the Company (the “Properties”) for an aggregate purchase price of $214.2 million, exclusive of closing costs, including assumed debt of approximately $47.5 million. In consideration for the Properties we (i) paid $60.4 million in cash, including a $10.0 million deposit paid in 2019, (ii) issued 1,406,170 common units of limited partnership interests in the Operating Partnership and (iii) issued 906,374 4.00% cumulative redeemable convertible preferred units of partnership interest in the Operating Partnership. See “Note 5 – Notes Payable” and “Note 12 – Noncontrolling Interests” for further details regarding the assumption of debt and issuance of common and preferred units, respectively. (3) Brady Way is a one-acre parcel of land adjacent to our property located at 12821 Knott Street. (4) This acquisition was partially funded through a 1031 Exchange using $42.4 million of net cash proceeds from the sale of our properties located at (i) 3927 Oceanic Drive, (ii) 121 West 33rd Street and (iii) 2700-2722 South Fairview Street. (5) On November 17, 2020, we acquired the property located at 13943-13955 Balboa Boulevard for a purchase price of $45.3 million, exclusive of closing costs. The acquisition was funded through a combination of cash on hand, the assumption of approximately $15.7 million of debt and the issuance of 592,186 common units of limited partnership interests in the Operating Partnership (6) On December 31, 2020, we acquired four properties for an aggregate purchase price of $84.0 million, exclusive of closing costs. The acquisition was funded through the issuance of 1,800,000 common units of limited partnership interests in the Operating Partnership. The following table summarizes the fair value of amounts allocated to each major class of asset and liability for the acquisitions noted in the table above, as of the date of each acquisition (in thousands): 2021 2020 Assets: Land $ 1,514,933 $ 729,649 Buildings and improvements 359,970 475,853 Tenant improvements 37,173 4,787 Acquired lease intangible assets (1) 71,919 43,378 Other acquired assets (2) 519 3,390 Total assets acquired $ 1,984,514 $ 1,257,057 Liabilities: Acquired lease intangible liabilities (3) $ 76,992 $ 19,705 Notes payable (4) 16,512 65,264 Deferred rent liability (5) 1,554 — Other assumed liabilities (2) 26,975 6,062 Total liabilities assumed $ 122,033 $ 91,031 Net assets acquired $ 1,862,481 $ 1,166,026 (1) For the 2021 acquisitions, acquired lease intangible assets are comprised of $67.8 million of in-place lease intangibles with a weighted average amortization period of 7.2 years and $4.1 million of above-market lease intangibles with a weighted average amortization period of 9.0 years. For the 2020 acquisitions, acquired lease intangible assets are comprised of $40.5 million of in-place lease intangibles with a weighted average amortization period of 4.7 years and $2.9 million of above-market lease intangibles with a weighted average amortization period of 7.4 years. (2) Includes other working capital assets acquired and liabilities assumed at the time of acquisition. Other acquired assets for 2020 also includes personal property that we acquired as part of the acquisition of 1055 Sandhill Avenue during 2020 that was subsequently sold. (3) Represents below-market lease intangibles with a weighted average amortization period of 7.5 years and 5.6 years, for the 2021 and 2020 acquisitions, respectively. (4) In connection with the acquisition of properties, during the years ended December 31, 2021 and 2020, we assumed two and 11 mortgage loans from the sellers, respectively. See “Note 5 – Notes Payable” for details. (5) In connection with the acquisition of 3071 Coronado Street, we entered into a short-term sale lease-back agreement with the seller/tenant with below-market lease payments. As a result, at the acquisition date we have recorded a deferred rent liability of $1.6 million which will be amortized into rental income over the term of the lease. Dispositions The following table summarizes information related to the properties that we sold during the years ended December 31, 2021, 2020, and 2019 (dollars in thousands). Property Submarket Date of Disposition Rentable Square Feet Contractual Sales Price (1) (in thousands) Gain Recorded 2021 Dispositions: 14723-14825.25 Oxnard Street Los Angeles - San Fernando Valley 2/12/2021 77,790 $ 19,250 $ 9,906 6760 Central Avenue, Unit B San Bernardino - Inland Empire East 3/15/2021 9,943 1,530 954 11529-11547 Tuxford Street Los Angeles - San Fernando Valley 5/20/2021 29,730 8,176 2,750 5803 Newton Drive San Diego - North 9/15/2021 71,602 18,600 13,702 2670-2674 East Walnut Street and 89-91 San Gabriel Boulevard Los Angeles - San Fernando Valley 11/01/2021 31,619 11,700 6,617 Total 220,684 $ 59,256 $ 33,929 2020 Dispositions: 3927 Oceanic Drive San Diego - North County 8/13/2020 54,740 $ 10,300 $ 2,926 121 West 33rd Street San Diego - South County 9/18/2020 76,745 13,500 7,575 2700-2722 South Fairview Street (2) Orange County - Airport 9/30/2020 116,575 20,400 3,268 6750 Central Avenue San Bernardino - Inland Empire East 12/31/2020 8,666 1,300 758 Subtotal 256,726 45,500 14,527 1055 Sandhill Avenue Personal Property — 1,854 (910) (3) Total 256,726 $ 47,354 $ 13,617 2019 Dispositions: 2350-2384 Orangethorpe Avenue and 1631 Placentia Avenue Orange County - North 6/27/2019 62,395 $ 11,575 $ 4,810 939 Poinsettia Avenue - Unit 301 San Diego - North County 7/31/2019 6,562 1,263 895 13914-13932 East Valley Boulevard Los Angeles - San Gabriel Valley 10/11/2019 58,084 11,180 6,233 2350-2380 Eastman Avenue Ventura 12/20/2019 55,321 9,581 4,359 Total 182,362 $ 33,599 $ 16,297 (1) Represents the gross contractual sales price before commissions, prorations, credits and other closing costs. (2) Gain recorded reflects (i) a $3.8 million gain on sale recognized due to lease reclassification from operating lease to sales-type lease, less (ii) approximately $0.6 million of selling costs/other write-offs related to the disposition. See “Note 6 – Leases” for additional information. (3) Represents a $0.9 million loss on disposition of personal property that was originally acquired as part of the acquisition of 1055 Sandhill Avenue and valued at $2.8 million. The loss is included in the line item “Gain on sale of real estate” in our consolidated statements of operations for the year ended December 31, 2020. Real Estate Held for Sale As of December 31, 2021, our property located at 28159 Avenue Stanford in Valencia, California was classified as held for sale. As of December 31, 2020, our property located at 14723-14825.25 Oxnard Street in Van Nuys, California was classified as held for sale. The following table summarizes the major classes of assets and liabilities associated with real estate property classified as held for sale as of December 31, 2021 and 2020 (dollars in thousands). December 31, 2021 December 31, 2020 Land $ 1,849 $ 4,458 Building and improvements 10,753 5,452 Tenant improvements 1,059 443 Real estate held for sale 13,661 10,353 Accumulated depreciation (6,657) (1,548) Real estate held for sale, net 7,004 8,805 Other assets associated with real estate held for sale 209 40 Total assets associated with real estate held for sale, net $ 7,213 $ 8,845 Tenant security deposits $ 177 $ 137 Other liabilities associated with real estate held for sale 54 56 Total liabilities associated with real estate held for sale $ 231 $ 193 Subsequent to December 31, 2021, we completed the sale of 28159 Avenue Stanford. See “Note 15 – Subsequent Events” for details.

Acquired Lease Intangibles

Acquired Lease Intangibles	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Acquired Lease Intangibles	Acquired Lease Intangibles The following table summarizes our acquisition-related intangible assets, including the value of in-place tenant leases and above-market tenant leases, and our acquisition-related intangible liabilities, including below-market tenant leases (in thousands): December 31, 2021 2020 Acquired Lease Intangible Assets: In-place lease intangibles $ 256,902 $ 193,653 Accumulated amortization (135,415) (109,789) In-place lease intangibles, net $ 121,487 $ 83,864 Above-market tenant leases $ 21,065 $ 17,079 Accumulated amortization (10,394) (8,771) Above-market tenant leases, net $ 10,671 $ 8,308 Acquired lease intangible assets, net $ 132,158 $ 92,172 Acquired Lease Intangible Liabilities: Below-market tenant leases $ (174,686) $ (101,297) Accumulated accretion 47,669 34,041 Below-market tenant leases, net $ (127,017) $ (67,256) Acquired lease intangible liabilities, net $ (127,017) $ (67,256) The following table summarizes the amortization related to our acquired lease intangible assets and liabilities for the reported periods noted below (in thousands): Year Ended December 31, 2021 2020 2019 In-place lease intangibles (1) $ 30,136 $ 22,903 $ 20,936 Net below market tenant leases (2) $ (15,443) $ (10,533) $ (7,907) (1) The amortization of in-place lease intangibles is recorded to depreciation and amortization expense in the consolidated statements of operations for the periods presented. (2) The amortization of net below market tenant leases is recorded as an increase to rental income in the consolidated statements of operations for the periods presented. The following table summarizes the estimated amortization/(accretion) of our acquisition-related intangibles as of December 31, 2021, for the next five years and thereafter (in thousands): Year Ending In-place Leases (1) Net Above/(Below) (2) 2022 $ 28,080 $ (19,079) 2023 20,793 (16,667) 2024 15,974 (13,845) 2025 13,037 (11,301) 2026 10,335 (9,721) Thereafter 33,268 (45,733) Total $ 121,487 $ (116,346) (1) Estimated amounts of amortization will be recorded to depreciation and amortization expense in the consolidated statements of operations. (2) Estimated amounts of amortization will be recorded as a net increase to rental income in the consolidated statements of operations.

Notes Payable

Notes Payable	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Notes Payable	Notes Payable The following table summarizes the components and significant terms of our indebtedness as of December 31, 2021 and 2020 (dollars in thousands): December 31, 2021 December 31, 2020 Margin Above LIBOR Interest Rate (1) Contractual Unsecured and Secured Debt: Unsecured Debt: Revolving Credit Facility $ — $ — 0.850 % (2) 0.951 % (3) 2/13/2024 (4) $225M Term Loan Facility — 225,000 n/a (2) n/a 1/14/2023 $150M Term Loan Facility 150,000 150,000 0.950 % (2) 3.713 % (5) 5/22/2025 $100M Notes 100,000 100,000 n/a 4.290 % 8/6/2025 $125M Notes 125,000 125,000 n/a 3.930 % 7/13/2027 $25M Series 2019A Notes 25,000 25,000 n/a 3.880 % 7/16/2029 $400M Senior Notes due 2030 400,000 400,000 n/a 2.125 % 12/1/2030 $400M Senior Notes due 2031 400,000 — n/a 2.150 % 9/1/2031 $75M Series 2019B Notes 75,000 75,000 n/a 4.030 % 7/16/2034 Total Unsecured Debt $ 1,275,000 $ 1,100,000 Secured Debt: 2601-2641 Manhattan Beach Boulevard (6) $ 3,951 $ 4,065 n/a 4.080 % 4/5/2023 $60M Term Loan (7) 58,108 58,499 1.700 % 1.801 % 8/1/2023 (7) 960-970 Knox Street (6)(8) 2,399 2,488 n/a 5.000 % 11/1/2023 7612-7642 Woodwind Drive (6) 3,806 3,895 n/a 5.240 % 1/5/2024 11600 Los Nietos Road (6) 2,626 2,785 n/a 4.190 % 5/1/2024 5160 Richton Street (6) 4,272 4,387 n/a 3.790 % 11/15/2024 22895 Eastpark Drive (6) 2,682 2,749 n/a 4.330 % 11/15/2024 701-751 Kingshill Place (9) 7,100 7,100 n/a 3.900 % 1/5/2026 13943-13955 Balboa Boulevard (6) 15,320 15,661 n/a 3.930 % 7/1/2027 2205 126th Street (10) 5,200 5,200 n/a 3.910 % 12/1/2027 2410-2420 Santa Fe Avenue (10) 10,300 10,300 n/a 3.700 % 1/1/2028 11832-11954 La Cienega Boulevard (6) 4,002 4,072 n/a 4.260 % 7/1/2028 Gilbert/La Palma (6) 2,119 2,293 n/a 5.125 % 3/1/2031 7817 Woodley Avenue (6) 3,132 — n/a 4.140 % 8/1/2039 2515 Western Avenue (6) 13,104 — n/a 4.500 % 9/1/2042 Total Secured Debt $ 138,121 $ 123,494 Total Unsecured and Secured Debt $ 1,413,121 $ 1,223,494 Less: Unamortized premium/discount and debt issuance costs (11) (13,556) (7,334) Total $ 1,399,565 $ 1,216,160 (1) Reflects the contractual interest rate under the terms of each loan as of December 31, 2021 and includes the effect of interest rate swaps that were effective as of December 31, 2021. See footnote (5) below. Excludes the effect of unamortized debt issuance costs and unamortized fair market value premiums and discounts. (2) The interest rates on these loans are comprised of LIBOR plus a LIBOR margin. The LIBOR margins will range from 0.725% to 1.400% per annum for the unsecured revolving credit facility and 0.80% to 1.60% per annum for the $150.0 million term loan facility, depending on our investment grade rating, which may change from time to time. (3) The unsecured revolving credit facility is subject to an applicable facility fee which is calculated as a percentage of the total lenders’ commitment amount, regardless of usage. The applicable facility fee ranges from 0.125% to 0.30% per annum depending upon our investment grade rating. (4) Two additional six-month extensions are available at the borrower’s option, subject to certain terms and conditions. (5) As of December 31, 2021, interest on the $150 million term loan facility has been effectively fixed through the use of interest rate swaps. See Note 7 – “Interest Rate Derivatives” for details related to our interest rate swaps. (6) Fixed monthly payments of interest and principal until maturity as follows: 2601-2641 Manhattan Beach Boulevard ($23,138), 960-970 Knox Street ($17,538), 7612-7642 Woodwind Drive ($24,270), 11600 Los Nietos ($22,637), 5160 Richton Street ($23,270), 22895 Eastpark Drive ($15,396), 13943-13955 Balboa Boulevard ($79,198), 11832-11954 La Cienega Boulevard ($20,194) and Gilbert/La Palma ($24,008), 7817 Woodley Avenue ($20,855) and 2515 Western Avenue ($81,250). (7) Loan is secured by six properties. One 24-month extension is available at the borrower’s option, subject to certain terms and conditions. Monthly payments of interest only through June 2021, followed by equal monthly payments of principal ($65,250), plus accrued interest until maturity. (8) Loan requires monthly escrow reserve payments for real estate taxes related to the property located at 960-970 Knox Street. (9) For 701-751 Kingshill Place, fixed monthly payments of interest only through January 2023, followed by fixed monthly payments of interest and principal ($33,488) until maturity. (10) Fixed monthly payments of interest only. (11) Excludes unamortized debt issuance costs related to our unsecured revolving credit facility, which are presented in the line item “Deferred loan costs, net” in the consolidated balance sheets. Contractual Debt Maturities The following table summarizes the contractual debt maturities and scheduled amortization payments, excluding debt premiums/discounts and debt issuance costs, as of December 31, 2021, and does not consider extension options available to us as noted in the table above (in thousands): 2022 $ 2,570 2023 65,227 2024 13,833 2025 251,423 2026 8,058 Thereafter 1,072,010 Total $ 1,413,121 Recent Activity Issuance of $400 Million Notes Due 2031 On August 4, 2021, we completed an underwritten public offering of $400.0 million of 2.150% Senior Notes due 2031 (the “$400 Million Notes due 2031”). The $400 Million Notes due 2031 were issued to the public at 99.014% of the principal amount, with a coupon rate of 2.150%. Interest on the $400 Million Notes due 2031 is payable semiannually on the first day of March and September in each year, beginning on March 1, 2022, until maturity on September 1, 2031. The proceeds from the $400 Million Notes due 2031 are expected to be allocated to investments in recently completed or future green building, energy and resource efficiency and renewable energy projects, including the development and redevelopment of such projects. Pending the allocation to eligible green projects, proceeds were used to repay our $225.0 million unsecured term loan facility (the “$225 Million Term Loan Facility”) (as described below), and to fund the redemption of all shares of our 5.875% Series A Cumulative Redeemable Preferred Stock as further described in “Note 11 – Stockholders’ Equity,” and acquisition activities. We may redeem the $400 Million Notes due 2031 at our option and sole discretion, in whole at any time or in part from time to time prior to June 1, 2031 (three months prior to the maturity date of the $400 Million Notes due 2031), at a redemption price equal to the greater of (i) 100% of the principal amount of the $400 Million Notes due 2031 being redeemed; and (ii) a make-whole premium calculated in accordance with the indenture. Notwithstanding the foregoing, on or after June 1, 2031 (three months prior to the maturity date of the $400 Million Notes due 2031), the redemption price will be equal to 100% of the principal amount of the $400 Million Notes due 2031 being redeemed. Issuance of $400 Million Notes Due 2030 On November 16, 2020, we completed an underwritten public offering of $400.0 million of 2.125% senior notes due 2030 (the “$400 Million Notes due 2030”). The $400 Million Notes due 2030 were issued at 99.211% of the principal amount , with a coupon rate of 2.125%. Interest on the $400 Million Notes due 2030 is payable semiannually on the first day of June and December in each year, beginning on June 1, 2021, until maturity on December 1, 2030. We may redeem the $400 Million Notes due 2030 at our option and sole discretion, in whole at any time or in part from time to time prior to September 1, 2030 (three months prior to the maturity date of the $400 Million Notes due 2030), at a redemption price equal to the greater of (i) 100% of the principal amount of the $400 Million Notes due 2030 being redeemed; and (ii) a make-whole premium calculated in accordance with the indenture. Notwithstanding the foregoing, on or after September 1, 2030 (three months prior to the maturity date of the $400 Million Notes due 2030), the redemption price will be equal to 100% of the principal amount of the $400 Million Notes due 2030 being redeemed. Repayment of $225 Million Term Loan Facility On August 9, 2021, we used a portion of the proceeds from the issuance of the $400 Million Notes due 2031 to repay the $225 Million Term Loan Facility in full. We did not incur any prepayment penalties for repaying the $225 Million Term Loan Facility in advance of the maturity date of January 14, 2023. In connection with the repayment of the $225 Million Term Loan Facility, we wrote off $0.5 million of unamortized debt issuance costs, which is included in “Loss on extinguishment of debt” in the accompanying consolidated statements of operations. Repayment of $100 Million Term Loan Facility On November 16, 2020, we used a portion of the net proceeds from the issuance of the $400 Million Notes due 2030 to repay the $100 Million Term Loan Facility in full. We did not incur any prepayment penalties for repaying the $100 Million Term Loan Facility in advance of the maturity date of February 14, 2022. In connection with the repayment of the $100 Million Term Loan, we wrote-off $0.1 million of unamortized debt issuance costs for the year ended December 31, 2020, which is included in “Loss on extinguishment of debt” in the accompanying consolidated statements of operations. Amendment of $150 Million Term Loan On June 30, 2021, we amended our $150 million unsecured term loan facility (the “$150 Million Term Loan”) to, among other things, reduce the applicable margin pursuant to which amounts outstanding under the $150 Million Term Loan bear interest. Following the amendment, the applicable Eurodollar rate margin ranges from 0.80% to 1.60% per annum and the applicable base rate margin ranges from 0.00% to 0.60% per annum, in each case, based on our credit rating. Assumption of Mortgage Loans On January 27, 2021, in connection with the acquisition of the property located at 7817 Woodley Avenue, we assumed a mortgage loan secured by this property. At the date of acquisition, the assumed loan had a principal balance of $3.2 million and a fair value of $3.3 million resulting in an initial net debt premium of $0.1 million. The mortgage loan bears interest at a fixed rate of 4.14% per annum. On October 12, 2021, in connection with the acquisition of the property located at 2515 Western Avenue, we assumed a mortgage loan secured by this property. At the date of acquisition, the assumed loan had a principal balance and fair value of $13.2 million. The mortgage loan bears interest at a fixed rate of 4.50% per annum. In connection with the acquisition of the Properties, on March 5, 2020, we assumed nine mortgage loans and on June 19, 2020, we assumed one additional mortgage loan, each secured by one of the Properties we acquired. At the date of acquisition, the assumed loans had an aggregate principal balance of $47.5 million and an aggregate fair value of $48.8 million, resulting in an aggregate initial net debt premium of $1.2 million. The mortgage loans bear interest at fixed interest rates ranging from 3.70% to 5.24% and have maturities ranging from 3.0 years to 8.3 years from the date assumed. On November 17, 2020, in connection with the acquisition of the property located at 13943-13955 Balboa Boulevard, we assumed a mortgage loan secured by this property. At the date of acquisition, the assumed loan had a principal balance of $15.7 million and a fair value of $16.5 million, resulting in an initial net debt premium of $0.8 million. The mortgage loan bears interest at a fixed rate of 3.93%. Credit Facility On February 13, 2020, we amended our $450 million credit agreement, that was scheduled to mature on February 14, 2021, by entering into a Third Amended and Restated Credit Agreement (the “Credit Agreement”), which initially provided for a $600.0 million senior unsecured credit facility, comprised of a $500.0 million unsecured revolving credit facility (the “Revolver”) and a $100.0 million unsecured term loan facility (the “$100 Million Term Loan Facility”) which was fully drawn under the prior credit agreement. On June 30, 2021, we exercised our option under the Credit Agreement to utilize the accordion feature to increase the authorized borrowing capacity of the Revolver by $200.0 million from $500.0 million to $700.0 million. Subject to certain terms and conditions set forth in the Credit Agreement, we may request additional lender commitments and increase the size of the Credit Agreement by an additional $700.0 million, which may be comprised of additional revolving commitments under the Revolver, term loan tranches or any combination of the foregoing. The Revolver is scheduled to mature on February 13, 2024, and has two six-month extension options available. The Revolver may be voluntarily prepaid in whole or in part at any time without premium or penalty. The $100 Million Term Loan Facility, which was scheduled to mature on February 14, 2022, was fully repaid without premium or penalty on November 16, 2020, and the repaid amount may not be reborrowed. As of December 31, 2021, interest on the Revolver is generally to be paid based upon, at our option, either (i) LIBOR plus an applicable margin that is based upon our investment grade ratings or (ii) the Base Rate (which is defined as the highest of (a) the federal funds rate plus 0.50%, (b) the administrative agent’s prime rate or (c) the Eurodollar Rate plus 1.00%) plus an applicable margin that is based on our investment grade ratings. The margins for the Revolver range from 0.725% to 1.40% per annum for LIBOR-based loans and 0.00% to 0.45% per annum for Base Rate-based loans, depending on our investment grade ratings. In addition to the interest payable on amounts outstanding under the Revolver, we are required to pay an applicable facility fee, on each lender's commitment amount under the Revolver, regardless of usage. The applicable facility fee ranges in amount from 0.125% to 0.300% per annum, depending on our investment grade ratings. The Credit Agreement contains usual and customary events of default including defaults in the payment of principal, interest or fees, defaults in compliance with the covenants set forth in the Credit Agreement and other loan documentation, cross-defaults to certain other indebtedness, and bankruptcy and other insolvency defaults. If an event of default occurs and is continuing under the Credit Agreement, the unpaid principal amount of all outstanding loans, together with all accrued unpaid interest and other amounts owing in respect thereof, may be declared immediately due and payable. On December 31, 2021, we did not have any borrowings outstanding under the Revolver, leaving $700.0 million available for future borrowings. Debt Covenants The Credit Agreement, $150 Million Term Loan Facility, our $100.0 million unsecured guaranteed senior notes (the “$100 Million Notes”), our $125.0 million unsecured guaranteed senior notes (the “$125 Million Notes”) and our $25 million unsecured guaranteed senior notes and $75 million unsecured guaranteed senior notes (together the “Series 2019A and 2019B Notes”) all include a series of financial and other covenants that we must comply with, including the following covenants which are tested on a quarterly basis: • Maintaining a ratio of total indebtedness to total asset value of not more than 60%; • For the Credit Agreement and $150 Million Term Loan Facility, maintaining a ratio of secured debt to total asset value of not more than 45%; • For the $100 Million Notes, $125 Million Notes and Series 2019A and 2019B Notes (together the “Senior Notes”), maintaining a ratio of secured debt to total asset value of not more than 40%; • For the Senior Notes, maintaining a ratio of total secured recourse debt to total asset value of not more than 15%; • For the Credit Agreement and $150 Million Term Loan Facility, maintaining a minimum tangible net worth of at least the sum of (i) $2,061,865,500, and (ii) an amount equal to at least 75% of the net equity proceeds received by the Company after September 30, 2019; • For the Senior Notes, maintaining a minimum tangible net worth of at least the sum of (i) $760,740,750, and (ii) an amount equal to at least 75% of the net equity proceeds received by the Company after September 30, 2016; • Maintaining a ratio of adjusted EBITDA (as defined in each of the loan agreements) to fixed charges of at least 1.5 to 1.0; • Maintaining a ratio of total unsecured debt to total unencumbered asset value of not more than 60%; and • Maintaining a ratio of unencumbered NOI (as defined in each of the loan agreements) to unsecured interest expense of at least 1.75 to 1.00. The $400 Million Notes due 2030 and $400 Million Notes due 2031 contain the following covenants (as defined in the indentures) that we must comply with: • Maintaining a ratio of total indebtedness to total asset value of not more than 60%; • Maintaining a ratio of secured debt to total asset value of not more than 40%; • Maintaining a Debt Service Coverage Ratio of at least 1.5 to 1.0; and • Maintaining a ratio of unencumbered assets to unsecured debt of at least 1.5 to 1.0. The Credit Agreement, $150 Million Term Loan Facility and Senior Notes also provide that our distributions may not exceed the greater of (i) 95.0% of our funds from operations or (ii) the amount required for us to qualify and maintain our status as a REIT and avoid the payment of federal or state income or excise tax in any 12-month period. Subject to the terms of the Senior Notes, upon certain events of default, including, but not limited to, (i) a default in the payment of any principal, make-whole payment amount, or interest under the Senior Notes, (ii) a default in the payment of certain of our other indebtedness, (iii) a default in compliance with the covenants set forth in the Senior Notes agreement, and (iv) bankruptcy and other insolvency defaults, the principal and accrued and unpaid interest and the make-whole payment amount on the outstanding Senior Notes will become due and payable at the option of the purchasers. In addition, we are required to maintain at all times a credit rating on the Senior Notes from either S&P, Moody’s or Fitch. Our credit ratings as of December 31, 2021, were BBB from S&P, BBB from Fitch and Baa3 from Moody’s. The $60 Million Term Loan contains the following financial covenants: • Maintaining a Debt Service Coverage Ratio (as defined in the term loan agreement) of at least 1.10 to 1.00, to be tested quarterly; • Maintaining Unencumbered Liquid Assets (as defined in the term loan agreement) of not less than (i) $5,000,000, or (ii) $8,000,000 if we elect to have Line of Credit Availability (as defined in the term loan agreement) included in the calculation, of which $2,000,000 must be cash or cash equivalents, to be tested annually as of December 31 of each year; • Maintaining a minimum Fair Market Net Worth (as defined in the term loan agreement) of at least $75,000,000, to be tested annually as of December 31 of each year. We were in compliance with all of our quarterly and annual debt covenants as of December 31, 2021.

Leases

Leases	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Leases	Leases Lessor – Operating Leases We lease industrial space to tenants primarily under non-cancelable operating leases that generally contain provisions for minimum base rents plus reimbursement for certain operating expenses. Total minimum lease payments are recognized in rental income on a straight-line basis over the term of the related lease and estimated reimbursements from tenants for real estate taxes, insurance, common area maintenance and other recoverable operating expenses are recognized in rental income in the period that the expenses are incurred. For the year ended December 31, 2021, we recognized $436.3 million of rental income related to operating lease payments of which $360.2 million was for fixed lease payments and $76.1 million was for variable lease payments. For the year ended December 31, 2020 we recognized $318.8 million of rental income related to operating lease payments of which $266.1 million was for fixed lease payments and $52.7 million was for variable lease payments. The following table sets forth the undiscounted cash flows for future minimum base rents to be received under operating leases as of December 31, 2021 (in thousands): For the year ending December 31, 2022 $ 398,894 2023 355,648 2024 298,710 2025 245,811 2026 189,553 Thereafter 688,486 Total $ 2,177,102 The future minimum base rents in the table above excludes tenant reimbursements of operating expenses, amortization of adjustments for deferred rent receivables and the amortization of above/below-market lease intangibles. Lessor – Sales-Type Lease In June 2020, we executed a five-year lease for a 58,802 rentable square foot unit at the property located at 2722 Fairview Street (“Fairview”). The lease contained an option whereby the tenant could purchase the entire 116,575 rentable square foot property at a purchase price of $20.4 million, by executing its purchase option on or before December 10, 2020. On September 9, 2020, the tenant exercised its option to purchase Fairview, which resulted in a change in lease classification from an operating lease to a sales-type lease. As a result of this change in classification, on September 9, 2020, we derecognized the net book value of the property, recorded a sales-type lease receivable of $20.3 million (measured as the discounted present value of the fixed purchase option price), and recognized a $3.8 million gain on sale due to lease reclassification. On September 30, 2020, the sale of Fairview closed and we collected the lease receivable and recorded $0.6 million of selling costs/write-offs, for a total net gain on sale of $3.3 million. The net proceeds from the sale of Fairview are included in net cash provided by operating activities in the consolidated statements of cash flows. Lessee We lease office space as part of conducting our day-to-day business. As of December 31, 2021, our office space leases have remaining lease terms ranging from approximately three years to four years and some include options to renew. These renewal terms can extend the lease term from three years to five years and are included in the lease term when it is reasonably certain that we will exercise the option. We also have one ground lease for a parcel of land that is adjacent to one of our properties and is used as a parking lot. This ground lease has a remaining lease term of approximately two years, with two additional ten-year options to renew, and monthly rent of $9,000 through expiration. In November 2021, we executed a sublease agreement for one of our leased office spaces as a result of the implementation of a work from home flexibility program in 2021 based on the success of our virtual working environment during the earlier part of the pandemic. The term of the sublease is for a period of three years and 9 months (expiring in September 2025) and has an annual lease payment of approximately $0.3 million per year. Upon executing the sublease agreement, we reviewed the ROU asset and other assets associated with the original office space lease for recoverability and determined that the total carrying amount of these assets exceeded the undiscounted cash flows generated by the sublease income over the lease term. Accordingly, the carrying value of these assets were written down to fair value and we recorded a $1.0 million impairment charge for the year ended December 31, 2021, which is included in “Other expenses” in the accompanying consolidated statements of operations, with a corresponding adjustment to “Other assets” in the consolidated balance sheets as of December 31, 2021. As of December 31, 2021, total ROU assets lease liabilities The tables below present financial information associated with our leases as of, and for the years ended December 31, 2021 and 2020. Year Ended December 31, Lease Cost (in thousands) 2021 2020 Operating lease cost (1) $ 1,598 $ 1,354 Variable lease cost (1) 63 39 Total lease cost $ 1,661 $ 1,393 (1) Amounts are included in “General and administrative” and “Property expenses” in the accompanying consolidated statement of operations. Year Ended December 31, Other Information (in thousands) 2021 2020 Cash paid for amounts included in the measurement of operating lease liabilities $ 1,471 $ 1,127 Right-of-use assets obtained in exchange for new operating lease liabilities $ — $ 3,204 Lease Term and Discount Rate December 31, 2021 December 31, 2020 Weighted-average remaining lease term 3.3 years 4.2 years Weighted-average discount rate (1) 2.95 % 2.99 % (1) Because the rate implicit in each of our leases was not readily determinable, we used our incremental borrowing rate. In determining our incremental borrowing rate for each lease, we considered recent rates on secured borrowings, observable risk-free interest rates and credit spreads correlating to our creditworthiness, the impact of collateralization and the term of each of our lease agreements. Maturities of lease liabilities as of December 31, 2021 were as follows (in thousands): 2022 $ 1,615 2023 1,624 2024 1,600 2025 472 2026 — Thereafter — Total undiscounted lease payments $ 5,311 Less imputed interest (262) Total lease liabilities $ 5,049
Leases	Leases Lessor – Operating Leases We lease industrial space to tenants primarily under non-cancelable operating leases that generally contain provisions for minimum base rents plus reimbursement for certain operating expenses. Total minimum lease payments are recognized in rental income on a straight-line basis over the term of the related lease and estimated reimbursements from tenants for real estate taxes, insurance, common area maintenance and other recoverable operating expenses are recognized in rental income in the period that the expenses are incurred. For the year ended December 31, 2021, we recognized $436.3 million of rental income related to operating lease payments of which $360.2 million was for fixed lease payments and $76.1 million was for variable lease payments. For the year ended December 31, 2020 we recognized $318.8 million of rental income related to operating lease payments of which $266.1 million was for fixed lease payments and $52.7 million was for variable lease payments. The following table sets forth the undiscounted cash flows for future minimum base rents to be received under operating leases as of December 31, 2021 (in thousands): For the year ending December 31, 2022 $ 398,894 2023 355,648 2024 298,710 2025 245,811 2026 189,553 Thereafter 688,486 Total $ 2,177,102 The future minimum base rents in the table above excludes tenant reimbursements of operating expenses, amortization of adjustments for deferred rent receivables and the amortization of above/below-market lease intangibles. Lessor – Sales-Type Lease In June 2020, we executed a five-year lease for a 58,802 rentable square foot unit at the property located at 2722 Fairview Street (“Fairview”). The lease contained an option whereby the tenant could purchase the entire 116,575 rentable square foot property at a purchase price of $20.4 million, by executing its purchase option on or before December 10, 2020. On September 9, 2020, the tenant exercised its option to purchase Fairview, which resulted in a change in lease classification from an operating lease to a sales-type lease. As a result of this change in classification, on September 9, 2020, we derecognized the net book value of the property, recorded a sales-type lease receivable of $20.3 million (measured as the discounted present value of the fixed purchase option price), and recognized a $3.8 million gain on sale due to lease reclassification. On September 30, 2020, the sale of Fairview closed and we collected the lease receivable and recorded $0.6 million of selling costs/write-offs, for a total net gain on sale of $3.3 million. The net proceeds from the sale of Fairview are included in net cash provided by operating activities in the consolidated statements of cash flows. Lessee We lease office space as part of conducting our day-to-day business. As of December 31, 2021, our office space leases have remaining lease terms ranging from approximately three years to four years and some include options to renew. These renewal terms can extend the lease term from three years to five years and are included in the lease term when it is reasonably certain that we will exercise the option. We also have one ground lease for a parcel of land that is adjacent to one of our properties and is used as a parking lot. This ground lease has a remaining lease term of approximately two years, with two additional ten-year options to renew, and monthly rent of $9,000 through expiration. In November 2021, we executed a sublease agreement for one of our leased office spaces as a result of the implementation of a work from home flexibility program in 2021 based on the success of our virtual working environment during the earlier part of the pandemic. The term of the sublease is for a period of three years and 9 months (expiring in September 2025) and has an annual lease payment of approximately $0.3 million per year. Upon executing the sublease agreement, we reviewed the ROU asset and other assets associated with the original office space lease for recoverability and determined that the total carrying amount of these assets exceeded the undiscounted cash flows generated by the sublease income over the lease term. Accordingly, the carrying value of these assets were written down to fair value and we recorded a $1.0 million impairment charge for the year ended December 31, 2021, which is included in “Other expenses” in the accompanying consolidated statements of operations, with a corresponding adjustment to “Other assets” in the consolidated balance sheets as of December 31, 2021. As of December 31, 2021, total ROU assets lease liabilities The tables below present financial information associated with our leases as of, and for the years ended December 31, 2021 and 2020. Year Ended December 31, Lease Cost (in thousands) 2021 2020 Operating lease cost (1) $ 1,598 $ 1,354 Variable lease cost (1) 63 39 Total lease cost $ 1,661 $ 1,393 (1) Amounts are included in “General and administrative” and “Property expenses” in the accompanying consolidated statement of operations. Year Ended December 31, Other Information (in thousands) 2021 2020 Cash paid for amounts included in the measurement of operating lease liabilities $ 1,471 $ 1,127 Right-of-use assets obtained in exchange for new operating lease liabilities $ — $ 3,204 Lease Term and Discount Rate December 31, 2021 December 31, 2020 Weighted-average remaining lease term 3.3 years 4.2 years Weighted-average discount rate (1) 2.95 % 2.99 % (1) Because the rate implicit in each of our leases was not readily determinable, we used our incremental borrowing rate. In determining our incremental borrowing rate for each lease, we considered recent rates on secured borrowings, observable risk-free interest rates and credit spreads correlating to our creditworthiness, the impact of collateralization and the term of each of our lease agreements. Maturities of lease liabilities as of December 31, 2021 were as follows (in thousands): 2022 $ 1,615 2023 1,624 2024 1,600 2025 472 2026 — Thereafter — Total undiscounted lease payments $ 5,311 Less imputed interest (262) Total lease liabilities $ 5,049

Interest Rate Derivatives

Interest Rate Derivatives	12 Months Ended
	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Interest Rate Swaps	Interest Rate Derivatives Risk Management Objective of Using Derivatives We are exposed to certain risks arising from both our business operations and economic conditions. We principally manage our exposures to a wide variety of business and operational risks through management of our core business activities. We manage economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of our debt funding and the use of derivative financial instruments. Specifically, we enter into derivative financial instruments to manage exposures that arise from business activities that result in the payment of future known and uncertain cash amounts, the value of which are determined by interest rates. Our derivative financial instruments are used to manage differences in the amount, timing, and duration of our known or expected cash payments principally related to our borrowings. Our objectives in using interest rate derivatives are to add stability to interest expense and to manage exposure to interest rate movements. To accomplish this objective, we primarily use interest rate swaps as part of our interest rate risk management strategy. Interest rate swaps involve the receipt of variable amounts from a counterparty in exchange for us making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. We do not use derivatives for trading or speculative purposes. The change in fair value of derivatives designated and qualifying as cash flow hedges is initially recorded in accumulated other comprehensive income/(loss) (“AOCI”) and is subsequently reclassified from AOCI into earnings in the period that the hedged forecasted transaction affects earnings. The following table sets forth a summary of our interest rate swaps as of December 31, 2021 and 2020 (dollars in thousands). We record all derivative instruments on a gross basis in the consolidated balance sheets, and accordingly, there are no offsetting amounts that net assets against liabilities. Current Notional Amount (1) Fair Value of Interest Rate Derivative Liabilities (2) Derivative Instrument Effective Date Maturity Date LIBOR Interest Strike Rate December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Interest Rate Swap 2/14/2018 1/14/2022 1.3490 % $ — $ 125,000 $ — $ (1,591) Interest Rate Swap 8/14/2018 1/14/2022 1.4060 % $ — $ 100,000 $ — $ (1,333) Interest Rate Swap 7/22/2019 11/22/2024 2.7625 % $ 150,000 $ 150,000 $ (7,482) $ (14,656) (1) Represents the notional value of swaps that are effective as of the balance sheet date presented. (2) As of December 31, 2021 and 2020, all of our derivatives were in a liability position and as such, the fair value is included in the line item “Interest rate swap liability” in the accompanying consolidated balance sheets. The following table sets forth the impact of our interest rate swaps on our financial statements for the periods presented (in thousands): Year Ended December 31, 2021 2020 2019 Interest Rate Swaps in Cash Flow Hedging Relationships: Amount of (loss) gain recognized in AOCI on derivatives $ 263 $ (17,212) $ (12,103) Amount of (loss) gain reclassified from AOCI into earnings as “Interest expense” (1) $ (8,070) $ (6,332) $ 2,038 Total interest expense presented in the Consolidated Statement of Operations in which the effects of cash flow hedges are recorded (line item “Interest expense”) $ 40,139 $ 30,849 $ 26,875 (1) Includes amounts that are being amortized from AOCI into interest expense on a straight-line basis related to the T-Locks, $100M Swap and $225M Swaps which are discussed below. Transactions On July 13, 2021, we executed three 10-year treasury rate lock agreements with a combined notional amount of $150.0 million at a weighted average fixed interest rate of 1.38179% (the “T-Locks”), intended to designate as a cash flow hedge against changes in interest rates on anticipated future fixed-rate unsecured borrowings. On August 9, 2021, we settled the T-Locks in connection with the issuance of the $400 Million Notes due 2031 for a payment of $2.8 million, which is included in the balance of AOCI and is being amortized into interest expense on a straight-line basis over the 10-year term of the hedged transaction. On August 11, 2021, in conjunction with the repayment of the $225 Million Term Loan Facility, we paid $1.3 million to terminate two interest rate swaps with a combined notional amount of $225.0 million and a maturity date of January 14, 2022 (the “$225M Swaps”), that were used to hedge the monthly cash flows associated $225.0 million of LIBOR-based variable-rate debt, and which had an unrealized loss balance of $1.3 million in AOCI at the time of termination. We are amortizing the loss on this transaction from AOCI into interest expense on a straight-line basis over the period beginning from the termination date of the $225M Swaps (August 9, 2021) through the original maturity date of the $225M Swaps (January 14, 2022). In November 2020, in conjunction with the repayment of the $100 Million Term Loan Facility, we paid $1.2 million to terminate an interest rate swap with a notional amount of $100.0 million and maturity date of August 14, 2021 (the “$100M Swap”), that was used to hedge the monthly cash flows associated with $100 million of LIBOR-based variable-rate debt, and which had an unrealized loss balance of $1.2 million in AOCI at the time of termination. We amortized the loss on this transaction from AOCI into interest expense on a straight-line basis over the period beginning from the termination date of the $100M Swap (November 12, 2020) through the original maturity date of the $100M Swap (August 14, 2021). During the next twelve months, we estimate that an additional $3.9 million (including $0.3 million related to the settled T-Locks and the remaining $0.1 million related to the $225 Million Swaps) will be reclassified from AOCI into earnings as an increase to interest expense. Credit-risk-related Contingent Features Certain of our agreements with our derivative counterparties contain a provision where if we default on any of our indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender within a specified time period, then we could also be declared in default on its derivative obligations. Certain of our agreements with our derivative counterparties contain provisions where if a merger or acquisition occurs that materially changes our creditworthiness in an adverse manner, we may be required to fully collateralize our obligations under the derivative instrument.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements ASC Topic 820: Fair Value Measurements and Disclosure (“ASC 820”) defines fair value and establishes a framework for measuring fair value. ASC 820 emphasizes that fair value is a market-based measurement, not an entity-specific measurement. Therefore, a fair value measurement should be determined based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair value measurements, ASC 820 establishes a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity’s own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy). Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access. Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as inputs that are observable for the asset or liability (other than quoted prices), such as interest rates and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable inputs for the asset or liability, which are typically based on an entity’s own assumptions, as there is little, if any, related market activity. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Recurring Measurements – Interest Rate Swaps Currently, we use interest rate swap agreements to manage our interest rate risk. The valuation of these instruments is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves. To comply with the provisions of ASC 820, we incorporate credit valuation adjustments to appropriately reflect both our own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of our derivative contracts for the effect of nonperformance risk, we have considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees. Although we have determined that the majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with our derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by ourselves and our counterparties. However, as of December 31, 2021, we have assessed the significance of the impact of the credit valuation adjustments on the overall valuation of our derivative positions and have determined that the credit valuation adjustments are not significant to the overall valuation of its derivatives. As a result, we have determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. The table below sets forth the estimated fair value of our interest rate swaps as of December 31, 2021 and 2020, which we measure on a recurring basis by level within the fair value hierarchy (in thousands). Fair Value Measurement Using Total Fair Value Quoted Price in Active Significant Other Significant December 31, 2021 Interest Rate Swap Asset $ — $ — $ — $ — Interest Rate Swap Liability $ (7,482) $ — $ (7,482) $ — December 31, 2020 Interest Rate Swap Asset $ — $ — $ — $ — Interest Rate Swap Liability $ (17,580) $ — $ (17,580) $ — Financial Instruments Disclosed at Fair Value The carrying amounts of cash and cash equivalents, rents and other receivables, other assets, accounts payable, accrued expenses and other liabilities, and tenant security deposits approximate fair value because of their short-term nature. The fair value of our notes payable was estimated by calculating the present value of principal and interest payments, using discount rates that best reflect current market rates for financings with similar characteristics and credit quality, and assuming each loan is outstanding through its respective contractual maturity date. The table below sets forth the carrying value and the estimated fair value of our notes payable as of December 31, 2021 and 2020 (in thousands). Fair Value Measurement Using Liabilities Total Fair Value Quoted Price in Active Significant Other Significant Carrying Value Notes Payable at: December 31, 2021 $ 1,404,680 $ — $ — $ 1,404,680 $ 1,399,565 December 31, 2020 $ 1,276,217 $ — $ — $ 1,276,217 $ 1,216,160

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Howard Schwimmer We engage in transactions with Howard Schwimmer, our Co-Chief Executive Officer, earning management fees and leasing commissions from entities controlled individually by Mr. Schwimmer. Fees and commissions earned from these entities are included in “Management, leasing and development services” in the consolidated statements of operations. We recorded $0.5 million, $0.4 million and $0.4 million during the years ended December 31, 2021, 2020 and 2019, respectively, in management, leasing and development services revenue.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal From time to time, we are party to various lawsuits, claims and legal proceedings that arise in the ordinary course of business. We are not currently a party to any legal proceedings that we believe would reasonably be expected to have a material adverse effect on our business, financial condition or results of operations. Environmental We generally will perform environmental site assessments at properties we are considering acquiring. After the acquisition of such properties, we continue to monitor the properties for the presence of hazardous or toxic substances. From time to time, we acquire properties with known adverse environmental conditions. If at the time of acquisition, losses associated with environmental remediation obligations are probable and can be reasonably estimated, we record a liability. As of December 31, 2021, we are not aware of any environmental liabilities that would have a material impact on our consolidated financial condition, results of operations or cash flows. However, we cannot be sure that we have identified all environmental liabilities at our properties, that all necessary remediation actions have been or will be undertaken at our properties or that we will be indemnified, in full or at all, in the event that such environmental liabilities arise. Furthermore, we cannot assure you that future changes to environmental laws or regulations and their application will not give rise to loss contingencies for future environmental remediation. Tenant and Construction Related Commitments As of December 31, 2021, we had commitments of approximately $52.0 million for tenant improvement and construction work under the terms of leases with certain of our tenants and contractual agreements with our construction vendors. Concentrations of Credit Risk We have deposited cash with financial institutions that are insured by the Federal Deposit Insurance Corporation up to $250,000 per institution. Although we have deposits at institutions in excess of federally insured limits as of December 31, 2021, we do not believe we are exposed to significant credit risk due to the financial position of the institutions in which those deposits are held. Concentration of Properties in Southern California As of December 31, 2021, all of our properties are located in the Southern California infill markets. The ability of the tenants to honor the terms of their respective leases is dependent upon the economic, regulatory and social factors affecting the markets in which the tenants operate and other conditions, including the impact of the ongoing COVID-19 pandemic, and related state and local government reactions. In response to COVID-19, most municipalities in Southern California, including many municipalities in which we own properties, mandated a moratorium on all commercial evictions and gave tenants impacted by COVID-19 the unilateral right to defer rent while the emergency orders are in effect, with repayment generally within six to twelve months after the end of the local emergency. During 2021, many municipalities allowed their local orders to expire or modified the orders to exclude some tenants (based on the tenant’s number of employees, being a publicly traded company or multinational company, or other characteristics). Most recently in Los Angeles County, where we operate a significant portion of our portfolio, the county’s eviction restrictions and rent deferment rights expired on January 31, 2022, with respect to municipalities outside the City of Los Angeles, leaving a small number of remaining municipalities, including the City of Los Angeles, where the restrictions will expire when the local emergency is lifted. During 2020, a limited number of our tenants took advantage of the relief provided by the local government mandates authorizing deferral of rent, irrespective of such tenants’ actual ability to pay such rent. For details related to rent relief provided to tenants since the pandemic, see “Note 2 – Summary of Significant Accounting Policies” under “—COVID-19 Lease Concessions.” The continued impact of the pandemic on our and our tenants’ businesses is largely dependent on efforts to stem the spread of COVID-19, including governmental efforts to encourage vaccinations and overall vaccination rates in the areas in which we own properties. Tenant Concentration During the year ended December 31, 2021, no single tenant accounted for more than 5% of our total consolidated rental income.

Stockholder's Equity

Stockholder's Equity	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Stockholder's Equity	Stockholders’ Equity Preferred Stock As of December 31, 2021 and 2020, we had the following series of Cumulative Preferred Shares (“Preferred Stock”) outstanding (dollars in thousands): December 31, 2021 December 31, 2020 Series Earliest Redemption Date Dividend Rate Shares Outstanding Liquidation Preference Shares Outstanding Liquidation Preference Series A August 16, 2021 5.875 % — $ — 3,600,000 $ 90,000 Series B November 13, 2022 5.875 % 3,000,000 75,000 3,000,000 75,000 Series C September 20, 2024 5.625 % 3,450,000 86,250 3,450,000 86,250 Total Preferred Shares 6,450,000 $ 161,250 10,050,000 $ 251,250 Dividends on our Preferred Stock are cumulative and payable quarterly in arrears on or about the last day of March, June, September and December of each year. Our Preferred Stock has no stated maturity dates and is not subject to mandatory redemption or any sinking funds. The holders of our Preferred Stock rank senior to the holders of our common stock with respect to dividend rights and rights upon the Company’s liquidation, dissolution or winding up of its affairs. The holders of our Preferred Stock generally have no voting rights except for limited voting rights if we fail to pay dividends for six or more quarterly dividend periods (whether or not consecutive). Upon the occurrence of a specified change of control transaction, we may, at our option, redeem each series of Preferred Stock in whole or in part within 120 days after the change of control occurred, by paying $25.00 per share in cash, plus any accrued and unpaid distributions through the date of redemption. If we do not exercise our right to redeem the Preferred Stock, upon the occurrence of a specified change of control transaction, the holders of our Preferred Stock have the right to convert some or all of their shares into a number of the Company’s common shares equivalent to $25.00 plus accrued and unpaid dividends, divided by the average closing price per share of the Company’s common stock for the 10 trading days preceding the date of the change of control, but not to exceed a certain capped number of shares of common stock per share of Preferred Stock, subject to certain adjustments. Redemption of Series A Preferred Stock On August 16, 2021 (the “Redemption Date”), we redeemed all 3,600,000 shares of our 5.875% Series A Cumulative Redeemable Preferred Stock (“Series A Preferred Stock”). The redemption price for the Series A Preferred Stock was equal to $25.00 per share, plus all accrued and unpaid dividends on such shares up to but not including the Redemption Date, in an amount equal to $0.183594 per share, for a total payment of $25.183594 per share, or $90.7 million. In connection with the redemption of the Series A Preferred Stock on August 16, 2021, we incurred an associated non-cash charge of $3.3 million as a reduction to net income available to common stockholders for the related original issuance costs. Common Stock May 2021 Forward Equity Offering On May 24, 2021, we entered into forward equity sale agreements with certain financial institutions acting as forward purchasers in connection with an underwritten public offering of 9,000,000 shares of common stock at an initial forward sale price of $55.29 per share (the “May 2021 Forward Sale Agreements”), pursuant to which, the forward purchasers borrowed and sold an aggregate of 9,000,000 shares of common stock in the offering. We did not initially receive any proceeds from the sale of common shares by the forward purchasers at the time of the offering. In June 2021, we partially settled the May 2021 Forward Sale Agreements by issuing 1,809,526 shares of common stock in exchange for net proceeds of $100.0 million. The net proceeds were calculated based on the net forward sale price on the settlement date of $55.26 per share. In September 2021, we settled the remaining shares under the May 2021 Forward Sale Agreements by issuing 7,190,474 shares of our common stock in exchange for net proceeds of $395.0 million. The net proceeds were calculated based on the net forward sale price on the settlement date of $54.93. September 2021 Offering In September 2021, we completed an underwritten public offering of 9,600,000 shares of common stock in which we (i) issued an aggregate of 3,100,000 shares of common stock to the underwriters at a purchase price of $58.65 per share for proceeds of $181.8 million, and (ii) entered into forward equity sale agreements with certain financial institutions acting as forward purchasers for 6,500,000 shares of common stock at an initial forward sale price of $58.65 per share (the “September 2021 Forward Sale Agreements”), pursuant to which the forward purchasers borrowed and sold an aggregate of 6,500,000 shares of common stock in the offering. We did not receive any proceeds from the sale of common shares by the forward purchasers at the time of the offering. In December 2021, we fully settled the 6,500,000 shares outstanding under the forward equity sale agreements from our September 2021 Offerings for total net proceeds of approximately $379.1 million. 2020 Offerings During the second quarter of 2020, we completed an underwritten public offering of 7,187,500 shares of our common stock, including the underwriters’ exercise in full of their option to purchase 937,500 shares of our common stock, at a price to the underwriters of $39.67 per share, for net proceeds of approximately $285.0 million after deducting offering costs. We contributed the net proceeds of the offering to our Operating Partnership in exchange for 7,187,500 common units of partnership interests in the Operating Partnership. In December 2020, we completed an underwritten public offering of 6,900,000 shares of our common stock, including the underwriters’ exercise in full of their option to purchase 900,000 shares of our common stock, at a price to the underwriters of $47.15 per share, for net proceeds of approximately $325.0 million, after deducting offering costs. We contributed the net proceeds of the offering to our Operating Partnership in exchange for 6,900,000 common units of partnership interests in the Operating Partnership. ATM Program On November 9, 2020, we established an at-the-market equity offering program pursuant to which we were able to sell from time to time shares of our common stock having an aggregate sales price of up to $750.0 million (the “2020 ATM Program”). The 2020 ATM Program replaced our previous $550.0 million at-the-market equity offering program which was established on June 13, 2019 (the “2019 ATM Program”). Under the 2019 ATM Program, we had offered and sold shares of our common stock having an aggregate gross sales price of $296.5 million through November 9, 2020. In addition, we previously established a $450.0 million at-the-market equity offering program on February 19, 2019, under which substantially all available shares of common stock were sold prior to establishing the 2019 ATM Program. In connection with the 2020 ATM Program, we were able to sale shares of our common stock directly through sales agents as well as enter into forward equity sale agreements with certain financial institutions acting as forward purchasers whereby, at our discretion, the forward purchasers borrowed and sold shares of our common stock under our 2020 ATM Program. The use of a forward equity sale agreement allows us to lock in a share price on the sale of shares of our common stock at the time the agreement is executed but defer settling the forward equity sale agreements and receiving the proceeds from the sale of shares until a later date. During the year ended December 31, 2021, we directly sold a total of 3,201,560 shares of our common stock under the 2020 ATM Program at a weighted average price of $52.27 per share, for gross proceeds of $167.3 million, and net proceeds of $165.2 million, after deducting the sales agents’ fees. During the year ended December 31, 2020, we sold a total of 3,165,661 shares of our common stock under our various at-the-market equity offering programs, at a weighted average price of $39.96 per share, for gross proceeds of $126.5 million, and net proceeds of $124.7 million, after deducting the sales agents’ fee. During the year ended December 31, 2019, we sold a total of 16,817,930 of our common stock under our various at-the-market equity offering programs, at a weighted average price of $38.61 per share, for gross proceeds of $649.3 million, and net proceeds of $639.6 million, after deducting the sales agents’ fee. During the year ended December 31, 2021, we also entered into forward equity sale agreements with certain financial institutions acting as forward purchasers under the 2020 ATM Program with respect to 8,589,572 shares of our common stock at a weighted average initial forward sale price of $62.87 per share. We did not initially receive any proceeds from the sale of common shares by the forward purchasers at the time we entered into forward equity sale agreements. During the year ended December 31, 2021, we physically settled a portion of the forward equity sale agreements related to the 2020 ATM Program by issuing 6,683,216 shares of common stock in exchange for net proceeds of $405.3 million. The net proceeds were calculated based on a weighted average net forward sale price at the time of settlement of $60.65 per share. As of December 31, 2021, we had 1,906,356 shares of common stock, or approximately $134.0 million of forward net proceeds remaining for settlement to occur by November 15, 2022, based on net forward sales price of $70.27 per share. Subsequent to December 31, 2021, we established a new at-the-market equity offering program pursuant to which we are able to sell from time to time shares of our common stock having an aggregate sales price of up to $750.0 million (the “2022 ATM Program”) directly through sales agents or by entering into forward equity sale agreements with certain financial institutions acting as forward purchasers. In connection with the establishment of the 2022 ATM Program, we terminated the 2020 ATM Program, under which we had offered and sold shares of our common stock having an aggregate gross sales price of $743.9 million through January 13, 2022. As of the date of the Annual Report on Form 10-K, we have not sold any share of our common stock under the 2022 ATM Program. Future sales, if any, will depend on a variety of factors, including among others, market conditions, the trading price of our common stock, determinations by us of the appropriate sources of funding for us and potential uses of funding available to us. Changes in Accumulated Other Comprehensive Income (Loss) The following table summarizes the changes in our AOCI balance for the years ended December 31, 2021 and 2020, which consists solely of adjustments related to our cash flow hedges: Year Ended December 31, 2021 2020 Accumulated other comprehensive loss - beginning balance $ (17,709) $ (7,542) Other comprehensive income (loss) before reclassifications 263 (17,212) Amounts reclassified from accumulated other comprehensive loss to interest expense (1) 8,070 6,332 Net current period other comprehensive income (loss) 8,333 (10,880) Less: other comprehensive (income) loss attributable to noncontrolling interests (498) 713 Other comprehensive income (loss) attributable to common stockholders 7,835 (10,167) Accumulated other comprehensive loss - ending balance $ (9,874) $ (17,709) (1) Amounts include $2.2 million and $0.2 million reclassifications from AOCI into interest expense for the years ended December 31, 2021 and 2020, respectively, related to the swaps that were terminated in August 2021 and November 2020. See “Note 7 – Interest Rate Derivatives” for additional information. Dividends Earnings and profits, which determine the taxability of dividends to stockholders, may differ from income reported for financial reporting purposes due to the differences for federal income tax purposes in the treatment of loss on extinguishment of debt, revenue recognition and compensation expense and in the basis of depreciable assets and estimated useful lives used to compute depreciation expense. The following tables summarize the tax treatment of common stock dividends and preferred stock dividends per share for federal income tax purposes for the years ended December 31, 2021, 2020 and 2019: Common Stock Year Ended December 31, 2021 2020 2019 Ordinary Income $ 1.049243 100.00 % $ 0.834238 100.00 % $ 0.783269 100.00 % Return of Capital — — % — — % — — % Capital Gain — — % — — % — — % Total $ 1.049243 100.00 % $ 0.834238 100.00 % $ 0.783269 100.00 % Series A Preferred Stock Year Ended December 31, 2021 2020 2019 Ordinary Income $ 0.917970 100.00 % $ 1.468752 100.00 % $ 1.468752 100.00 % Return of Capital — — % — — % — — % Capital Gain — — % — — % — — % Total $ 0.917970 100.00 % $ 1.468752 100.00 % $ 1.468752 100.00 % Series B Preferred Stock Year Ended December 31, 2021 2020 2019 Ordinary Income $ 1.468752 100.00 % $ 1.468752 100.00 % $ 1.468752 100.00 % Return of Capital — — % — — % — — % Capital Gain — — % — — % — — % Total $ 1.468752 100.00 % $ 1.468752 100.00 % $ 1.468752 100.00 % Series C Preferred Stock Year Ended December 31, 2021 2020 2019 Ordinary Income $ 1.406252 100.00 % $ 1.406252 100.00 % $ 0.394531 100.00 % Return of Capital — — % — — % — — % Capital Gain — — % — — % — — % Total $ 1.406252 100.00 % $ 1.406252 100.00 % $ 0.394531 100.00 %

Noncontrolling Interests

Noncontrolling Interests	12 Months Ended
	Dec. 31, 2021
Noncontrolling Interest [Abstract]
Noncontrolling Interests	Noncontrolling Interests Noncontrolling interests relate to interests in the Operating Partnership, represented by common units of partnership interests in the Operating Partnership (“OP Units”), fully-vested LTIP units, fully-vested performance units and Series 1 CPOP Units and Series 2 CPOP Units, as described below, that are not owned by us. Operating Partnership Units As of December 31, 2021, noncontrolling interests included 5,022,622 OP Units, 633,856 fully-vested LTIP units and 744,899 fully-vested performance units which represented approximately 3.8% of our Operating Partnership. OP Units and shares of our common stock have essentially the same economic characteristics, as they share equally in the total net income or loss distributions of our Operating Partnership. Investors who own OP Units have the right to cause our Operating Partnership to redeem any or all of their units in our Operating Partnership for an amount of cash per unit equal to the then current market value of one share of common stock, or, at our election, shares of our common stock on a one-for-one basis. See “Note 13 – Incentive Award Plan” for a description of LTIP units and Performance Units. Activity As previously described in “Note 3 – Investments in Real Estate,” on March 5, 2020, we acquired ten industrial properties and on June 19, 2020, we acquired one additional property, from a group of sellers that were not affiliated with the Company for an aggregate purchase price of $214.2 million. As partial consideration for the acquisition of the Properties, we issued the Sellers 1,406,170 OP Units, valued at $67.5 million. On November 17, 2020, we acquired the property located at 13943-13955 Balboa Boulevard for a purchase price of $45.3 million. As partial consideration for the property, we issued the seller 592,186 OP Units valued at $27.8 million. On December 31, 2020, we acquired a portfolio of four properties for an aggregate purchase price of $84.0 million. As consideration for the portfolio, we issued the seller 1,800,000 OP Units. During the years ended December 31, 2021, 2020 and 2019, we redeemed 521,199, 296,313 and 96,060 OP Units, respectively, in exchange for issuing to the holders of the OP Units an equal number of shares of our common stock, resulting in the reclassification of $17.5 million, $7.7 million, and $0.7 million, respectively, from noncontrolling interests to total stockholders’ equity. Preferred Units Series 2 CPOP Units On March 5, 2020, as partial consideration for the acquisition of the Properties, we issued the Sellers 906,374 newly issued 4.00% cumulative redeemable convertible preferred units of partnership interest in the Operating Partnership (the “Series 2 CPOP Units”), valued at $40.8 million. Holders of Series 2 CPOP Units, when and as authorized by the Company as general partner of the Operating Partnership, are entitled to cumulative cash distributions at the rate of 4.00% per annum of the $45.00 per unit liquidation preference, payable quarterly in arrears on or about the last day of March, June, September and December of each year, beginning on March 31, 2020. The holders of Series 2 CPOP Units are entitled to receive the liquidation preference, which is $45.00 per unit or approximately $40.8 million in the aggregate for all of the Series 2 CPOP Units, before the holders of OP Units are entitled to receive distributions in the event of any voluntary or involuntary liquidation, dissolution or winding-up of the affairs of the Operating Partnership. Series 1 CPOP Units On April 10, 2019, we acquired the property located at 1515 East 15th Street for a purchase price of $28.1 million. In consideration for the property, we issued the seller 593,960 newly issued 4.43937% cumulative redeemable convertible preferred units of partnership interest in the Operating Partnership (“Series 1 CPOP Units”), valued at $27.4 million, plus the payment of certain closing costs, including $0.7 million of closing costs typically attributable to the seller. Holders of Series 1 CPOP Units, when and as authorized by the Company as general partner of the Operating Partnership, are entitled to cumulative cash distributions at the rate of 4.43937% per annum of the $45.50952 per unit liquidation preference, payable quarterly in arrears on or about the last day of March, June, September and December of each year, beginning on June 28, 2019. The holders of Series 1 CPOP Units are entitled to receive the liquidation preference, which is $45.50952 per unit or approximately $27.0 million in the aggregate for all of the Series 1 CPOP Units, before the holders of OP Units in the event of any voluntary or involuntary liquidation, dissolution or winding-up of the affairs of the Operating Partnership. Features of Series 1 and Series 2 CPOP Units The Series 1 CPOP Units and the Series 2 CPOP Units (together, the “CPOP Units”) are convertible (i) at the option of the holder anytime from time to time (the “Holder Conversion Right”), or (ii) at the option of the Operating Partnership, at any time on or after April 10, 2024 for the Series 1 CPOP Unit, or at any time on or after March 5, 2025, for the Series 2 CPOP Unit (the “Company Conversion Right”), in each case, into OP Units on a one-for-one basis per Series 1 CPOP Unit, and into 0.7722 OP Units per Series 2 CPOP Unit. As noted above, investors who own OP Units have the right to cause our Operating Partnership to redeem any or all of their units in our Operating Partnership for an amount of cash per unit equal to the then current market value of one share of common stock, or, at our election, shares of our common stock on a one-for-one basis (the “Subsequent Redemption Right”). The CPOP Units rank senior to the Operating Partnership’s OP Units, on parity with the Operating Partnership’s 5.875% series B cumulative redeemable preferred units and 5.625% series C cumulative redeemable preferred units and with any future class or series of partnership interest of the Operating Partnership expressly designated as ranking on parity with the CPOP Units, and junior to any other class or series of partnership interest of the Operating Partnership expressly designated as ranking senior to the CPOP Units. Pursuant to relevant accounting guidance, we analyzed the CPOP Units for any embedded derivatives that should be bifurcated and accounted for separately and also considered the conditions that would require classification of the CPOP Units in temporary equity versus permanent equity. In carrying out our analyses, we evaluated the key features of the CPOP Units including the right to discretionary distributions, the Holder Conversion Right, the Company Conversion Right and the Subsequent Redemption Right to determine whether we control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the share settlement if the CPOP Units are converted into shares of our common stock (subsequent to conversion into OP Units). Based on the results of our analyses, we concluded that (i) none of the embedded features of the CPOP Units require bifurcation and separate accounting, and (ii) the CPOP Units met the criteria to be classified within equity, and accordingly are presented as noncontrolling interests within permanent equity in the consolidated balance sheets.

Incentive Award Plan

Incentive Award Plan	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Incentive Award Plan	Incentive Award Plan Second Amended and Restated 2013 Incentive Award Plan On June 17, 2021, our stockholders approved the Second Amended and Restated Rexford Industrial Realty, Inc. and Rexford Industrial Realty, L.P. 2013 Incentive Award Plan (the “Plan”), superseding and replacing our prior incentive award plan. Pursuant to the Plan, we may make grants of restricted stock, LTIP units of partnership interest in our Operating Partnership (“LTIP units”), performance units in our Operating Partnership (“Performance Units”), dividend equivalents and other stock based and cash awards to our non-employee directors, employees and consultants. The Plan is administered by our board of directors with respect to awards to non-employee directors and by our compensation committee with respect to other participants, each of which may delegate its duties and responsibilities to committees of our directors and/or officers (collectively the “plan administrator”), subject to certain limitations. The plan administrator sets the terms and conditions of all awards under the Plan, including any vesting and vesting acceleration conditions. As of December 31, 2021, a total of 2,650,950 shares of common stock, LTIP units, Performance Units and other stock based awards remain available for issuance under the Plan. Shares and units granted under the Plan may be authorized but unissued shares or units, or, if authorized by the board of directors, shares purchased in the open market. If an award under the Plan is forfeited, expires, or is settled for cash, any shares or units subject to such award will generally be available for future awards. LTIP Units and Performance Units LTIP units and Performance Units are each a class of limited partnership units in the Operating Partnership. Initially, LTIP units and Performance Units do not have full parity with OP Units with respect to liquidating distributions. However, upon the occurrence of certain events more fully described in the Operating Partnership’s partnership agreement (“book-up events”), the LTIP units and Performance Units can over time achieve full parity with OP Units for all purposes. If such parity is reached, vested LTIP units and vested Performance Units may be converted into an equal number of OP Units, and, upon conversion, enjoy all rights of OP Units. LTIP units, whether vested or not, receive the same quarterly per-unit distributions as OP Units, which equal the per-share distributions on shares of our common stock. Performance Units that have not vested receive a quarterly per-unit distribution equal to 10% of the per-unit distribution paid on OP Units. The compensation committee grants awards to the Company’s named executive officers (the “NEOs”) on an annual basis in the form of LTIP units and Performance units, typically in December of each year. In December of 2021, 2020 and 2019, the compensation committee granted the NEOs a combined 93,030, 121,112, and 120,243 LTIP units that are subject to time-based vesting conditions (each an annual “LTIP Award”) and a combined 366,004, 476,915, and 294,994 Performance Units that are partially subject to market-based vesting conditions and partially subject to performance-based vesting conditions (each an annual “Performance Award”). 2021, 2020 and 2019 LTIP Unit Awards Each of the 2021, 2020 and 2019 LTIP Awards are scheduled to vest one-third in equal installments on each of the first, second and third anniversaries of the grant date. Each award is subject to each executive’s continued employment through the applicable vesting date, and subject to earlier vesting upon certain termination of employment or a change in control event, as described in the award agreements. Compensation expense is recognized using the accelerated expense attribution method, with each vesting tranche valued as a separate award. The total grant date fair value of each annual LTIP award is based on the Company’s most recent closing stock price preceding the grant and the application of a discount for post-vesting restrictions and uncertainty regarding the occurrence and timing of book-up events. The following table summarizes these fair valuation assumptions and the grant date fair value of each annual LTIP award: 2021 LTIP Award 2020 LTIP Award 2019 LTIP Award Valuation date December 23, 2021 December 22, 2020 December 16, 2019 Closing share price of common stock $ 77.50 $ 48.58 $ 45.74 Discount for post-vesting restrictions and book-up events 7.8 % 7.6 % 6.4 % Grant date fair value (in thousands) $ 6,648 $ 5,437 $ 5,148 The following table sets forth our unvested LTIP Unit activity for the years ended December 31, 2021, 2020 and 2019: Number of Unvested LTIP Units Weighted-Average Grant Date Fair Value per Unit Balance at December 31, 2018 327,048 $ 26.12 Granted 179,758 $ 39.67 Vested (208,394) $ 26.14 Balance at December 31, 2019 298,412 $ 34.26 Granted 157,404 $ 45.86 Forfeited (22,795) $ 38.89 Vested (196,375) $ 34.31 Balance at December 31, 2020 236,646 $ 41.49 Granted 148,533 $ 62.45 Vested (145,470) $ 40.65 Balance at December 31, 2021 239,709 $ 54.99 2021, 2020 and 2019 Performance Unit Award s Each of the 2021 , 2020 and 2019 Performance Awards are comprised of a number of units designated as base units and a number of units designated as distribution equivalents, which are further described below: • Absolute TSR Base Units - base units that will vest based on varying levels of the Company’s total shareholder return (“TSR”) over the three-year performance period of an award. TSR is measured as the appreciation in the price per share of a company’s common stock plus dividends paid during the three-year performance period, assuming the reinvestment in common stock of all dividends paid during the performance period. • Relative TSR Base Units - base units that will vest based on the Company’s TSR as compared to the TSR percentage of a selected peer group of companies over the three-year performance period. • FFO Per-Share Base Units - base units that will vest based on the Company’s FFO per share growth over the three-year performance period. • Distribution Equivalent Units - Performance Units that have not vested will receive 10% of the distributions paid on OP units. The remaining 90% of the distributions will accrue (assuming the reinvestment in common stock of these distributions) during the three-year performance period and a portion will be paid out as distribution equivalent units based upon the number of base units that ultimately vest. The following table summarizes the total number of base units and distribution equivalent units awarded to the executives for each of the Performance Awards: Absolute TSR Base Units (1) Relative TSR Base Units (1) FFO Per-Share Base Units (1) Distribution Equivalent Units Total Performance Units 2021 Performance Award 113,871 113,871 113,871 24,391 366,004 2020 Performance Award 148,030 148,030 148,027 32,828 476,915 2019 Performance Award (2) 118,339 74,033 85,898 16,724 294,994 (1) For each Performance Award, a number of the base units are designated as Absolute TSR Base Units and Relative TSR Base Units (combined, a “Market Performance Award”) and a number of units are designated as FFO Per-Share Base Units (each an “FFO Per-Share Award”). (2) On December 31, 2020, 41,094 Performance Units initially granted in December 2019 were canceled due to the termination of employment of our former Chief Financial Officer. The following table summarizes the performance levels and vesting percentages for the Absolute TSR Base Units, Relative TSR Base Units and FFO Per-Share Base Units, and the three-year performance period for each of the Performance Unit awards: Absolute TSR Base Units Relative TSR Base Units FFO Per-Share Base Units Performance Level Company TSR Percentage Absolute TSR Vesting Percentage Peer Group Relative Performance Relative TSR Vesting Percentage FFO per Share Growth FFO Vesting Percentage Three-Year Performance Period 2021 Award < 18% — % < 35th Percentile — % < 12% — % “Threshold Level” 18 % 16.7 % 35th Percentile 16.7 % 12 % 16.7 % “Target Level” 24 % 33.4 % 55th Percentile 33.4 % 16.5 % 33.4 % See Note (1) “ High Level” 30 % 66.7 % 75th Percentile 66.7 % 21 % 66.7 % “Maximum Level” ≥ 40% 100 % ≥ 90th Percentile 100 % ≥26% 100 % 2020 Award < 18% — % < 35th Percentile — % < 12% — % “Threshold Level” 18 % 16.7 % 35th Percentile 16.7 % 12 % 16.7 % “Target Level” 24 % 33.4 % 55th Percentile 33.4 % 16.5 % 33.4 % See Note (2) “ High Level” 30 % 66.7 % 75th Percentile 66.7 % 21 % 66.7 % “Maximum Level” ≥ 40% 100 % ≥ 90th Percentile 100 % ≥ 26% 100 % 2019 Award < 18% — % < 35th Percentile — % < 12% — % “Threshold Level” 18 % 25 % 35th Percentile 25 % 12 % 25 % Jan 1, 2020 “Target Level” 24 % 50 % 55th Percentile 50 % 16.5 % 50 % to “Maximum Level” ≥ 30% 100 % ≥ 75th Percentile 100 % ≥ 21% 100 % Dec 31, 2022 (1) The performance period for the 2021 Market Performance Award is December 23, 2021 through December 22, 2024, and the performance period for the 2021 FFO Per-Share Award is January 1, 2022 through December 31, 2024. (2) The performance period for the 2020 Market Performance Award is December 22, 2020 through December 21, 2023, and the performance period for the 2020 FFO Per-Share Award is January 1, 2021 through December 31, 2023. If the Company’s TSR percentage, peer group relative performance or FFO per share growth falls between the levels specified in the tables above, the percentage of Absolute TSR Base Units, Relative TSR Base Units and FFO Per-Share Base Units that vest will be determined using straight-line interpolation between such levels. Fair Value of Awards With Market-Based Vesting Conditions The grant date fair value of each of the 2021, 2020 and 2019 Market Performance Awards is based on the sum of the following: (1) the present value of the expected payoff to the vested absolute and relative base units, (2) the present value of the 10% portion of the distribution expected to be paid during the three-year performance period, and (3) the present value of the distribution equivalent units expected to be awarded at the end of the three-year performance period. The grant date fair value of each of these awards was measured using a Monte Carlo simulation pricing model, which uses 100,000 trial simulations, to estimate the probability that the market conditions, TSR on both an absolute and relative basis, will be achieved over the three-year performance period. The following table summarizes the assumptions we used in the Monte Carlo simulations and the grant date fair value of the awards with market-based vesting conditions. 2021 Market Performance Award 2020 Market Performance Award 2019 Market Performance Award Valuation date December 23, 2021 December 22, 2020 December 16, 2019 Expected share price volatility for the Company 31.0 % 31.0 % 18.0 % Expected share price volatility for peer group companies - low end of range (1) 17.0 % 17.0 % 12.0 % Expected share price volatility for peer group companies - high end of range (1) 100.0 % 100.0 % 100.0 % Expected dividend yield 1.70 % 1.90 % 1.90 % Risk-free interest rate 0.98 % 0.19 % 1.74 % Grant date fair value (in thousands) $ 8,962 $ 6,928 $ 3,922 (1) For the 2021 Market Performance Award, the median and average expected share price volatilities for the peer group companies are 45.0% and 47.9%, respectively. For the 2020 Market Performance Award, the median and average expected share price volatilities for the peer group companies are 45.0% and 47.4%, respectively. For the 2019 Market Performance Award, the median and average expected share price volatilities for the peer group companies are 21.0% and 24.4%, respectively. The expected share price volatilities are based on a mix of the historical and implied volatilities of the Company and the peer group companies. The expected dividend yield is based on our average historical dividend yield and our dividend yield as of the valuation date for each award. The risk-free interest rate is based on U.S. Treasury note yields matching the three-year time period of the performance period. Compensation cost for the awards with market-based vesting conditions is recognized ratably over the requisite service period, regardless of whether the TSR performance levels are achieved and any awards ultimately vest. Compensation expense will only be reversed if the holder of an award with market-based vesting conditions forfeits the award by leaving the employment of the Company prior to vesting. Fair Value of Awards with Performance-Based Vesting Conditions The grant date fair value of the 2021 FFO Per-Share Award is $2.9 million, which is based on the Company’s closing stock price on the grant date ($77.50 on December 23, 2021) and the achievement of FFO per-share performance at the target level. The grant date fair value of the 2020 FFO Per-Share Award is $2.4 million, which is based on the Company’s closing stock price on the grant date ($48.58 on December 22, 2020) and the achievement of FFO per-share performance at the target level. The grant date fair value of the 2019 FFO Per-Share Award is $2.0 million, which is based on the Company’s closing stock price preceding the grant date ($45.74 on December 16, 2019) and the achievement of FFO per-share performance at the target level. Compensation cost for the 2021, 2020 and 2019 FFO Per-Share Awards will reflect the number of units that are expected to vest based on the probable outcome of the performance condition and will be adjusted to reflect those units that ultimately vest at the end of the three-year performance period. 2018, 2017 and 2016 Performance Award Vestings On December 14, 2021, the three-year performance period for the 2018 performance award ended and it was determined that both the Company’s TSR percentage and peer group relative performance exceeded the maximum level. Based on these results, the compensation committee certified that 170,413 Performance Units were earned and vested. On December 14, 2020, the three-year performance period for the 2017 performance award ended and it was determined that both the Company’s TSR percentage and peer group relative performance exceeded the maximum level. Based on these results, the compensation committee certified that 184,502 Performance Units were earned and vested. On December 28, 2019, the three-year performance period for the 2016 performance award ended and it was determined that both the Company’s TSR percentage and peer group relative performance exceeded the maximum level. Based on these results, the compensation committee certified that 195,628 vested Performance Units were earned and vested. Restricted Common Stock The compensation committee has periodically awarded grants of restricted common stock to various employees of the Company typically other than NEOs, for the purpose of attracting or retaining the services of these key individuals. These grants typically vest in four equal, annual installments on each of the first four anniversaries of the date of grant, subject to the employee’s continued service. Shares of our restricted common stock are participating securities and have full voting rights and nonforfeitable rights to dividends. During the years ended December 31, 2021 and 2020, we granted 120,734 and 107,648 shares, respectively, of restricted common stock to non-executive employees. The grant date fair value of these awards was $5.6 million and $5.0 million based on the closing share price of the Company’s common stock on the date of grant, which ranged from $48.14 and $62.19 per share and $39.71 to $50.18 per share for the years ended December 31, 2021 and 2020, respectively. On September 1, 2020, we granted Ms. Laura Clark 3,497 shares of restricted common stock as a sign-on incentive award, which vests in three equal annual installments on each of the first three anniversaries. The grant date fair value of this award was approximately $167,000 based on the Company’s closing share price of $47.65 on the date of grant. In accordance with the Rexford Industrial Realty, Inc. Non-Employee Director Compensation Program, each year on the date of the annual meeting of the Company’s stockholders, we grant shares of restricted common stock to each of our non-employee directors who are re-elected for another year of service. These awards vest on the earlier of (i) the date of the annual meeting of the Company’s stockholders next following the grant date and (ii) the first anniversary of the grant date, subject to each non-employee director’s continued service. During the years ended December 31, 2021 and 2020, each of our non-employee directors were granted 1,873 and 2,507 shares of restricted common stock with a grant date fair value of $109,964 and $100,000 based on the $58.71 and $39.88 closing share price, respectively, of the Company’s common stock on the date of grant. The following table sets forth our unvested restricted stock activity for the years ended December 31, 2021, 2020 and 2019: Number of Unvested Shares of Restricted Common Stock Weighted-Average Grant Date Fair Value per Share Balance at December 31, 2018 200,398 $ 20.13 Granted 110,711 $ 34.85 Forfeited (17,287) $ 29.71 Vested (1)(2) (81,277) $ 23.23 Balance at December 31, 2019 212,545 $ 29.64 Granted 126,865 $ 45.94 Forfeited (16,128) $ 37.25 Vested (1)(2) (90,383) $ 28.50 Balance at December 31, 2020 232,899 $ 38.43 Granted 132,537 $ 50.62 Forfeited (23,763) $ 42.69 Vested (1)(2) (92,494) $ 35.45 Balance at December 31, 2021 249,179 $ 45.62 (1) The total fair value of vested shares, which is calculated as the number of shares vested multiplied by the closing share price of the Company’s common stock on the vesting date, was $4.6 million, $4.1 million and $2.9 million for the years ended December 31, 2021, 2020 and 2019, respectively. (2) Total shares vested include 29,305, 27,473 and 24,618 shares of common stock that were tendered by employees during the years ended December 31, 2021, 2020 and 2019, respectively, to satisfy minimum statutory tax withholding requirements associated with the vesting of restricted shares of common stock. Share-Based Compensation Expense The following table sets forth the amounts expensed and capitalized for all share-based awards for the reported periods presented below (in thousands): Year Ended December 31, 2021 2020 2019 Expensed share-based compensation (1) $ 19,506 $ 12,871 $ 10,756 Capitalized share-based compensation (2) 357 223 174 Total share-based compensation $ 19,863 $ 13,094 $ 10,930 (1) Amounts expensed are included in “General and administrative” and “Property expenses” in the accompanying consolidated statements of operations. (2) For the years ended December 31, 2021, 2020 and 2019, amounts capitalized only relate to employees who provide construction services and are included in “Building and improvements” in the consolidated balance sheets. In April 2021, the compensation committee chose to provide Messrs. Schwimmer and Frankel’s 2021 annual bonuses partly in cash and partly in LTIP units. Accordingly, on January 18, 2022, at the same time that annual bonuses were paid to executives, Messrs. Schwimmer and Frankel were each granted 12,824 LTIP Units that were fully vested on the grant date. Share-based compensation expense for the year ended December 31, 2021, includes $1.9 million for the portion of Messrs. Schwimmer and Frankel’s 2021 accrued bonus that was settled with these fully-vested LTIP Units. In August 2020, the compensation committee chose to provide Messrs. Schwimmer and Frankel’s 2020 annual bonuses partly in cash and partly in LTIP units. Accordingly, on January 27, 2021, at the same time that annual bonuses were paid to executives, Messrs. Schwimmer and Frankel were each granted 15,288 LTIP Units that were fully vested on the grant date. Share-based compensation expense for the year ended December 31, 2020, includes $1.5 million for the portion of Messrs. Schwimmer and Frankel’s 2020 accrued bonus that was settled with these fully-vested LTIP Units. In April 2019, the compensation committee chose to provide Messrs. Schwimmer and Frankel’s 2019 annual bonuses partly in cash and partly in LTIP units. Accordingly, on February 4, 2020, at the same time that annual bonuses were paid to executives, Messrs. Schwimmer and Frankel were each granted 18,146 LTIP Units that were fully vested on the grant date. Share-based compensation expense for the year ended December 31, 2019, includes $1.8 million for the portion of Messrs. Schwimmer and Frankel’s 2019 accrued bonus that was settled with these fully-vested LTIP Units. As of December 31, 2021, total unrecognized compensation cost related to all unvested share-based awards was $41.4 million and is expected to be recognized over a weighted average remaining period of 28 months.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share (in thousands, except share and per share amounts): Year Ended December 31, 2021 2020 2019 Numerator: Net income $ 136,246 $ 80,895 $ 64,001 Less: Preferred stock dividends (12,563) (14,545) (11,055) Less: Original issuance costs of redeemed preferred stock (3,349) — — Less: Net income attributable to noncontrolling interests (8,005) (4,492) (2,022) Less: Net income attributable to participating securities (568) (509) (447) Net income attributable to common stockholders $ 111,761 $ 61,349 $ 50,477 Denominator: Weighted average shares of common stock outstanding - basic 139,294,882 120,873,624 106,407,283 Effect of dilutive securities 780,807 304,686 391,765 Weighted average shares of common stock outstanding - diluted 140,075,689 121,178,310 106,799,048 Earnings per share - Basic Net income attributable to common stockholders $ 0.80 $ 0.51 $ 0.47 Earnings per share - Diluted Net income attributable to common stockholders $ 0.80 $ 0.51 $ 0.47 Unvested share-based payment awards that contain non-forfeitable rights to dividends, whether paid or unpaid, are accounted for as participating securities. As such, unvested shares of restricted stock, unvested LTIP Units and unvested Performance Units are considered participating securities. Participating securities are included in the computation of basic EPS pursuant to the two-class method. The two-class method determines EPS for each class of common stock and each participating security according to dividends declared (or accumulated) and their respective participation rights in undistributed earnings. Participating securities are also included in the computation of diluted EPS using the more dilutive of the two-class method or treasury stock method for unvested shares of restricted stock and LTIP Units, and by determining if certain market conditions have been met at the reporting date for unvested Performance Units. The effect of including unvested shares of restricted stock and unvested LTIP Units using the treasury stock method was excluded from our calculation of weighted average shares of common stock outstanding – diluted, as their inclusion would have been anti-dilutive. Performance Units, which are subject to vesting based on the Company achieving certain TSR levels and FFO per share growth over a three-year performance period, are included as contingently issuable shares in the calculation of diluted EPS when TSR and/or FFO per share growth has been achieved at or above the threshold levels specified in the award agreements, assuming the reporting period is the end of the performance period, and the effect is dilutive. We also consider the effect of other potentially dilutive securities, including the CPOP Units and OP Units, which may be redeemed for shares of our common stock under certain circumstances, and include them in our computation of diluted EPS when their inclusion is dilutive. These units were not dilutive for the periods presented above.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Acquisitions The following table summarizes the properties we acquired subsequent to December 31, 2021: Property Submarket Date of Acquisition Rentable Square Feet Number of Buildings Contractual Purchase Price 444 Quay Avenue Los Angeles - South Bay 1/14/2022 29,760 1 $ 10,760 18455 Figueroa Street Los Angeles - South Bay 1/31/2022 146,765 1 64,250 24903 Avenue Kearny Los Angeles - San Fernando Valley 2/1/2022 214,436 1 58,463 19475 Gramercy Place Los Angeles - South Bay 2/2/2022 47,712 1 11,300 14005 Live Oak Avenue Los Angeles - San Gabriel Valley 2/8/2022 56,510 1 25,000 13700 Slover Ave San Bernardino - Inland Empire West 2/10/2022 17,862 1 13,209 Total 513,045 6 $ 182,982 Dispositions On January 13, 2022, we completed the sale of our property located at 28159 Avenue Stanford for a contract price of $16.5 million. At December 31, 2021, this property was classified as held for sale. New $750 Million ATM Program On January 13, 2022, we established the 2022 ATM Program. See “Note 11 – Stockholders’ Equity” under “— Common Stock —ATM Program” for additional details. Dividends Declared On February 7, 2022, our board of directors declared the following quarterly cash dividends/distributions: Security Amount per Share/Unit Record Date Payment Date Common stock $ 0.315 March 31, 2022 April 15, 2022 OP Units $ 0.315 March 31, 2022 April 15, 2022 5.875% Series B Cumulative Redeemable Preferred Stock $ 0.367188 March 15, 2022 March 31, 2022 5.625% Series C Cumulative Redeemable Preferred Stock $ 0.351563 March 15, 2022 March 31, 2022 4.43937% Cumulative Redeemable Convertible Preferred Units $ 0.505085 March 15, 2022 March 31, 2022 4.00% Cumulative Redeemable Convertible Preferred Units $ 0.450000 March 15, 2022 March 31, 2022

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2021
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III – Real Estate and Accumulated Depreciation	REXFORD INDUSTRIAL REALTY, INC. SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION (Dollars in thousands) Initial Cost Costs Capitalized Subsequent to Acquisition (1) Gross Amounts at Which Carried at Close of Period Property Address Location Encumbrances Land Building and Improvements Building and Improvements Land (2) Building & Improvements (2) Total Accumulated Depreciation (3) Year Build / Year Renovated Year Acquired 15241 - 15277, 15317 - 15339 Don Julian Rd. City of Industry, CA $ — (4) $ 3,875 $ 2,407 $ 9,976 $ 3,875 $ 12,383 $ 16,258 $ (7,906) 1965, 2005 / 2003 2002 300 South Lewis Road Camarillo, CA — (4) 4,150 3,050 9,927 4,150 12,977 17,127 (7,636) 1960-1963 / 2006 2003 1400 South Shamrock Ave. Monrovia, CA — 2,317 2,534 1,036 2,317 3,570 5,887 (2,508) 1957, 1962 / 2004 2003 2220-2260 Camino del Sol Oxnard, CA — (4) 868 — 4,909 868 4,909 5,777 (2,122) 2005 2003 14250-14278 Valley Blvd. La Puente, CA — 2,539 2,020 3,438 2,539 5,458 7,997 (3,375) 1974 / 2007 2003 2300-2386 East Walnut Ave. Fullerton, CA — (4) 6,817 6,089 2,210 6,817 8,299 15,116 (4,745) 1985-1986 / 2005 2004 15140 & 15148 Bledsoe St., 13065 - 13081 Bradley Ave. Sylmar, CA — 2,525 3,380 7,064 2,525 10,444 12,969 (5,263) 1969, 2008 / 2016 2004 28340 - 28400 Avenue Crocker Valencia, CA — 2,666 3,343 3,839 2,666 7,182 9,848 (3,981) 1987 / 2006 / 2015 2004 21-29 West Easy St. Simi Valley, CA — 2,346 4,522 2,590 2,346 7,112 9,458 (4,269) 1991 / 2006 2004 10439-10477 Roselle St. San Diego, CA — 4,711 3,199 3,816 4,711 7,015 11,726 (2,216) 1970 / 2007 2013 2575 Pioneer Ave. Vista, CA — 1,784 2,974 2,140 1,784 5,114 6,898 (2,984) 1988 / 2006 2004 9641 - 9657 Santa Fe Springs Rd. Santa Fe Springs, CA — 3,740 260 7,060 3,740 7,320 11,060 (2,894) 1982 / 2009 2006 15715 Arrow Highway Irwindale, CA — (4) 3,604 5,056 (85) 3,604 4,971 8,575 (2,886) 1989 2006 2431-2465 Impala Dr. Carlsbad, CA — 5,470 7,308 4,818 5,470 12,126 17,596 (7,071) 1983 / 2006 2006 6200 & 6300 Yarrow Dr. Carlsbad, CA — 5,001 7,658 3,972 5,001 11,630 16,631 (7,230) 1977-1988 / 2006 2005 6231 & 6241 Yarrow Dr. Carlsbad, CA — 3,473 5,119 1,269 3,473 6,388 9,861 (3,907) 1977 / 2006 2006 9160 - 9220 Cleveland Ave., 10860 6th St. Rancho Cucamonga, CA — 3,647 11,867 3,123 3,647 14,990 18,637 (9,151) 1988-1989 / 2006 2006 18118-18120 S. Broadway St. Carson, CA — 3,013 2,161 1,073 3,013 3,234 6,247 (1,129) 1957 / 1989, 2017 2013 901 W. Alameda Ave. Burbank, CA — 6,304 2,996 5,434 6,304 8,430 14,734 (4,845) 1969 / 2009 2007 1938-1946 E. 46th St. Vernon, CA — 7,015 7,078 1,802 7,015 8,880 15,895 (4,596) 1961, 1983 / 2008-2010 2007 9220-9268 Hall Rd. Downey, CA — 6,974 2,902 511 6,974 3,413 10,387 (1,797) 2008 2009 929, 935, 939 & 951 Poinsettia Ave. Vista, CA — 4,213 5,584 859 2,678 4,587 7,265 (2,532) 1989 / 2007 2008 Initial Cost Costs Capitalized Subsequent to Acquisition (1) Gross Amounts at Which Carried at Close of Period Property Address Location Encumbrances Land Building and Improvements Building and Improvements Land (2) Building & Improvements (2) Total Accumulated Depreciation (3) Year Build / Year Renovated Year Acquired 3720-3750 W. Warner Ave. Santa Ana, CA — 3,028 1,058 1,081 3,028 2,139 5,167 (1,200) 1973 / 2008 2007 6750 Unit C - 6780 Central Ave. Riverside, CA — 1,564 584 677 678 1,014 1,692 (633) 1978 2007 1050 Arroyo Ave. San Fernando, CA — 3,092 1,900 753 3,092 2,653 5,745 (921) 1969 / 2012 2010 600-650 South Grand Ave. Santa Ana, CA — 4,298 5,075 1,845 4,298 6,920 11,218 (2,525) 1988 2010 121-125 N. Vinedo Ave. Pasadena, CA — 3,481 3,530 188 3,481 3,718 7,199 (1,463) 1953 / 1993 2011 3441 West MacArthur Blvd. Santa Ana, CA — 4,179 5,358 348 4,179 5,706 9,885 (1,753) 1973 2011 6701 & 6711 Odessa Ave. Van Nuys, CA — 1,582 1,856 184 1,582 2,040 3,622 (649) 1970-1972 / 2012 2011 10700 Jersey Blvd. Rancho Cucamonga, CA — 3,158 4,860 1,257 3,158 6,117 9,275 (2,312) 1988-1989 2011 15705, 15709 Arrow Highway & 5220 Fourth St. Irwindale, CA — 3,608 2,699 694 3,608 3,393 7,001 (1,248) 1987 2011 20920-20950 Normandie Ave. Torrance, CA — 3,253 1,605 720 3,253 2,325 5,578 (905) 1989 2011 14944, 14946, 14948 Shoemaker Ave. Santa Fe Springs, CA — 3,720 2,641 716 3,720 3,357 7,077 (1,243) 1978 / 2012 2011 6423-6431 & 6407-6119 Alondra Blvd. Paramount, CA — 1,396 925 193 1,396 1,118 2,514 (385) 1986 2011 1400 S. Campus Ave. Ontario, CA — 3,266 2,961 2 3,266 2,963 6,229 (1,678) 1964-1966, 1973, 1987 2012 15041 Calvert St. Van Nuys, CA — 4,096 1,570 272 4,096 1,842 5,938 (564) 1971 2012 701 Del Norte Blvd. Oxnard, CA — 3,082 6,230 1,115 3,082 7,345 10,427 (2,541) 2000 2012 3350 Tyburn St., 3332, 3334, 3360, 3368, 3370, 3378, 3380, 3410, 3424 N. San Fernando Rd. Los Angeles, CA — 17,978 39,471 3,715 17,978 43,186 61,164 (14,149) 1966, 1992, 1993, 1994 2013 1661 240th St. Los Angeles, CA — 3,043 2,550 3,884 3,043 6,434 9,477 (2,324) 1975 / 1995 2013 8101-8117 Orion Ave. Van Nuys, CA — 1,389 3,872 672 1,389 4,544 5,933 (1,584) 1978 2013 18310-18330 Oxnard St. Tarzana, CA — 2,497 5,494 1,531 2,497 7,025 9,522 (2,321) 1973 2013 1100-1170 Gilbert St. & 2353-2373 La Palma Ave. Anaheim, CA 2,119 4,582 5,135 2,634 4,582 7,769 12,351 (2,594) 1972 / 1990 / 2013 2013 280 Bonita Ave., 2743 Thompson Creek Rd. Pomona, CA — 8,001 17,734 110 8,001 17,844 25,845 (5,319) 1983 2013 2950 Madera Rd. Simi Valley, CA — (4) 3,601 8,033 2 3,601 8,035 11,636 (2,441) 1988 / 2005 2013 10635 Vanowen St. Burbank, CA — 1,517 1,833 1,277 1,517 3,110 4,627 (1,032) 1977 2013 Initial Cost Costs Capitalized Subsequent to Acquisition (1) Gross Amounts at Which Carried at Close of Period Property Address Location Encumbrances Land Building and Improvements Building and Improvements Land (2) Building & Improvements (2) Total Accumulated Depreciation (3) Year Build / Year Renovated Year Acquired 7110 Rosecrans Ave. Paramount, CA — 3,117 1,894 2,383 3,117 4,277 7,394 (1,032) 1972 / 2015, 2019 2014 845, 855, 865 S Milliken Ave & 4317, 4319 Santa Ana St. Ontario, CA — 2,260 6,043 757 2,260 6,800 9,060 (2,420) 1985 2014 1500-1510 W. 228th St. Torrance, CA — 2,428 4,271 5,989 2,428 10,260 12,688 (2,141) 1963 / 1968, 2017 2014 24105 Frampton Ave. Torrance, CA — 2,315 1,553 2,071 2,315 3,624 5,939 (971) 1974 / 2016 2014 1700 Saturn Way Seal Beach, CA — 7,935 10,525 342 7,935 10,867 18,802 (3,204) 2006 2014 2980 & 2990 N San Fernando Road Burbank, CA — 6,373 7,356 550 6,373 7,906 14,279 (2,613) 1950 / 2004 2014 20531 Crescent Bay Dr. Lake Forest, CA — 2,181 4,012 417 2,181 4,429 6,610 (1,421) 1998 2014 2610 & 2701 S. Birch Street Santa Ana, CA — 9,305 2,115 4,440 9,305 6,555 15,860 (1,884) 1965 / 2016 2014 710 South Dupont Avenue & 4051 Santa Ana Street Ontario, CA — 3,725 6,145 288 3,725 6,433 10,158 (2,097) 2001 2014 9755 Distribution Ave. San Diego, CA — 1,863 3,211 (10) 1,863 3,201 5,064 (999) 1974 2014 9855 Distribution Ave San Diego, CA — 2,733 5,041 208 2,733 5,249 7,982 (1,596) 1983 2014 9340 Cabot Drive San Diego, CA — 4,311 6,126 1,054 4,311 7,180 11,491 (2,156) 1975 / 1976 2014 9404 Cabot Drive San Diego, CA — 2,413 3,451 242 2,413 3,693 6,106 (1,100) 1975 / 1976 2014 9455 Cabot Drive San Diego, CA — 4,423 6,799 600 4,423 7,399 11,822 (2,418) 1975 / 1976 2014 14955-14971 E Salt Lake Ave City of Industry, CA — 5,125 5,009 1,275 5,125 6,284 11,409 (1,932) 1979 2014 5235 East Hunter Ave. Anaheim, CA — 5,240 5,065 1,755 5,240 6,820 12,060 (2,239) 1987 2014 3880 West Valley Blvd. Pomona, CA — 3,982 4,796 3,599 3,982 8,395 12,377 (2,438) 1980 / 2017 2014 1601 Alton Pkwy. Irvine, CA — 7,638 4,946 8,505 7,638 13,451 21,089 (3,040) 1974 / 2018 2014 3116 W. Avenue 32 Los Angeles, CA — 3,761 6,729 3,472 3,761 10,201 13,962 (2,556) 1974 2014 21040 Nordoff Street; 9035 Independence Avenue; 21019 - 21045 Osborne Street Chatsworth, CA — 7,230 9,058 2,418 7,230 11,476 18,706 (3,603) 1979 / 1980 2014 24935 & 24955 Avenue Kearny Santa Clarita, CA — 4,773 5,970 844 4,773 6,814 11,587 (2,195) 1988 2014 605 8th Street San Fernando, CA — 2,393 2,742 1,744 2,393 4,486 6,879 (1,178) 1991 / 2015, 2020 2014 9120 Mason Ave. Chatsworth, CA — 9,224 19,346 815 9,224 20,161 29,385 (5,421) 1967 / 1999 2014 Initial Cost Costs Capitalized Subsequent to Acquisition (1) Gross Amounts at Which Carried at Close of Period Property Address Location Encumbrances Land Building and Improvements Building and Improvements Land (2) Building & Improvements (2) Total Accumulated Depreciation (3) Year Build / Year Renovated Year Acquired 7900 Nelson Rd. Los Angeles, CA — 8,495 15,948 2,597 8,495 18,545 27,040 (4,855) 1998 / 2015 2014 679-691 S Anderson St. Los Angeles, CA — 1,723 4,767 1,613 1,723 6,380 8,103 (1,521) 1992 / 2017 2014 10509 Business Drive Fontana, CA — 3,505 5,237 1,319 3,505 6,556 10,061 (1,872) 1989 2014 13231 Slover Avenue Fontana, CA — 2,812 4,739 743 2,812 5,482 8,294 (1,564) 1990 2014 240 W Ivy Avenue Inglewood, CA — 2,064 3,675 4,223 2,064 7,898 9,962 (1,724) 1981 2014 3000 Paseo Mercado, 3120-3150 Paseo Mercado Oxnard, CA — 2,616 8,311 1,452 2,616 9,763 12,379 (2,981) 1988 2014 1800 Eastman Ave. Oxnard, CA — 842 2,209 81 842 2,290 3,132 (746) 2009 2014 2360-2364 E. Sturgis Road Oxnard, CA — 1,128 2,726 540 1,128 3,266 4,394 (1,151) 1989 2014 201 Rice Ave. & 2400-2420 Celsius Oxnard, CA — 3,487 9,589 685 3,487 10,274 13,761 (3,007) 2008 2014 11120, 11160, 11200 Hindry Ave Los Angeles, CA — 3,478 7,834 521 3,478 8,355 11,833 (2,363) 1992 / 1994 2014 6970-7170 & 7310-7374 Convoy Ct. San Diego, CA — 10,805 18,426 2,938 10,805 21,364 32,169 (6,339) 1971 2014 12907 Imperial Highway Santa Fe Springs, CA — 5,462 6,678 — 5,462 6,678 12,140 (1,803) 1997 2015 8902-8940 Activity Road San Diego, CA — 9,427 8,103 2,069 9,427 10,172 19,599 (3,049) 1987 / 1997 2015 1210 N Red Gum St. Anaheim, CA — 3,326 4,020 1,455 3,326 5,475 8,801 (1,367) 1985 / 2020 2015 9615 Norwalk Blvd. Santa Fe Springs, CA — 8,508 1,134 5,058 8,508 6,192 14,700 (324) 1975 2015 16221 Arthur St. Cerritos, CA — 2,979 3,204 1,814 2,979 5,018 7,997 (950) 1979 / 2021 2015 2588 & 2605 Industry Way Lynwood, CA — 8,738 9,415 — 8,738 9,415 18,153 (2,698) 1969 / 1971 2015 425 S. Hacienda Blvd. City of Industry, CA — 4,010 3,050 117 4,010 3,167 7,177 (924) 1997 2015 6700 S Alameda St. Huntington Park, CA — 3,502 9,279 263 3,502 9,542 13,044 (2,995) 1990 / 2008 2015 12720-12860 Danielson Ct. Poway, CA — 6,902 8,949 733 6,902 9,682 16,584 (3,282) 1999 2015 10950 Norwalk Blvd & 12241 Lakeland Rd. Santa Fe Springs, CA — 3,446 1,241 265 3,446 1,506 4,952 (524) 1982 2015 610-760 W Hueneme Rd. & 5651-5721 Perkins Rd. Oxnard, CA — 3,310 5,806 1,282 3,310 7,088 10,398 (2,412) 1985 2015 10701-10719 Norwalk Blvd. Santa Fe Springs, CA — 3,357 3,527 190 3,357 3,717 7,074 (1,036) 2004 2015 6020 Sheila St. Commerce, CA — 4,590 7,772 583 4,590 8,355 12,945 (2,156) 2000 2015 Initial Cost Costs Capitalized Subsequent to Acquisition (1) Gross Amounts at Which Carried at Close of Period Property Address Location Encumbrances Land Building and Improvements Building and Improvements Land (2) Building & Improvements (2) Total Accumulated Depreciation (3) Year Build / Year Renovated Year Acquired 9805 6th St. Rancho Cucamonga, CA — 3,503 3,204 995 3,503 4,199 7,702 (1,402) 1986 2015 16321 Arrow Hwy. Irwindale, CA — 3,087 4,081 453 3,087 4,534 7,621 (1,159) 1955 / 2001 2015 601-605 S. Milliken Ave. Ontario, CA — 5,479 7,036 1,178 5,479 8,214 13,693 (2,514) 1987 / 1988 2015 1065 E. Walnut Ave. Carson, CA — 10,038 4,380 3,600 10,038 7,980 18,018 (2,532) 1974 2015 12247 Lakeland Rd. Santa Fe Springs, CA — 3,481 776 1,168 3,481 1,944 5,425 (485) 1971 / 2016 2015 17311 Nichols Lane Huntington Beach, CA — 7,988 8,728 3 7,988 8,731 16,719 (2,280) 1993 / 2014 2015 8525 Camino Santa Fe San Diego, CA — 4,038 4,055 827 4,038 4,882 8,920 (1,408) 1986 2016 28454 Livingston Avenue Valencia, CA — 5,150 9,666 425 5,150 10,091 15,241 (2,451) 2007 2016 20 Icon Lake Forest, CA — 12,576 8,817 170 12,576 8,987 21,563 (3,106) 1999 / 2015 2016 16425 Gale Avenue City of Industry, CA — 18,803 6,029 1,271 18,803 7,300 26,103 (1,730) 1976 2016 12131 Western Avenue Garden Grove, CA — 15,077 11,149 4,861 15,077 16,010 31,087 (3,594) 1987 / 2007, 2017 2016 9 Holland Irvine, CA — 13,724 9,365 226 13,724 9,591 23,315 (2,524) 1980 / 2013 2016 15996 Jurupa Avenue Fontana, CA — 7,855 12,056 19 7,855 12,075 19,930 (2,879) 2015 2016 11127 Catawba Avenue Fontana, CA — 5,562 8,094 4 5,562 8,098 13,660 (1,942) 2015 2016 13550 Stowe Drive Poway, CA — 9,126 8,043 — 9,126 8,043 17,169 (2,245) 1991 2016 10750-10826 Lower Azusa Road El Monte, CA — 4,433 2,961 1,193 4,433 4,154 8,587 (1,153) 1975 2016 525 Park Avenue San Fernando, CA — 3,830 3,887 173 3,830 4,060 7,890 (1,020) 2003 2016 3233 Mission Oaks Blvd. Camarillo, CA — 13,791 10,017 14,608 13,791 24,625 38,416 (4,858) 1980-1982 / 2014, 2018, 2019 2016 1600 Orangethorpe Ave. & 1335-1375 Acacia Ave. Fullerton, CA — 26,659 12,673 4,001 26,659 16,674 43,333 (4,761) 1968/1985 2016 14742-14750 Nelson Avenue City of Industry, CA — 13,463 1,680 17,001 13,463 18,681 32,144 (2,800) 1969 / 2018 2016 301-445 Figueroa Street Wilmington, CA — 7,126 5,728 4,894 7,126 10,622 17,748 (1,916) 1972 / 2018 2016 12320 4th Street Rancho Cucamonga, CA — 12,642 14,179 3 12,642 14,182 26,824 (3,499) 1997 / 2003 2016 9190 Activity Road San Diego, CA — 8,497 5,622 727 8,497 6,349 14,846 (1,740) 1986 2016 28903-28903 Avenue Paine Valencia, CA — 10,620 6,510 17,883 10,620 24,393 35,013 (1,542) 1999 / 2018 2017 2390 Ward Avenue Simi Valley, CA — 5,624 10,045 967 5,624 11,012 16,636 (2,637) 1989 2017 Safari Business Center (5) Ontario, CA — 50,807 86,065 8,121 50,807 94,186 144,993 (19,840) 1989 2017 Initial Cost Costs Capitalized Subsequent to Acquisition (1) Gross Amounts at Which Carried at Close of Period Property Address Location Encumbrances Land Building and Improvements Building and Improvements Land (2) Building & Improvements (2) Total Accumulated Depreciation (3) Year Build / Year Renovated Year Acquired 4175 Conant Street Long Beach, CA — 13,785 13,440 — 13,785 13,440 27,225 (2,791) 2015 2017 5421 Argosy Avenue Huntington Beach, CA — 3,577 1,490 2 3,577 1,492 5,069 (536) 1976 2017 14820-14830 Carmenita Road Norwalk, CA — 22,938 6,738 1,111 22,938 7,849 30,787 (1,738) 1970, 2000 2017 3002-3072 Inland Empire Blvd. Ontario, CA — 11,980 14,439 3,043 11,980 17,482 29,462 (4,020) 1981 2017 17000 Kingsview Avenue & 800 Sandhill Avenue Carson, CA — 7,988 5,472 975 7,988 6,447 14,435 (1,141) 1984 2017 2301-2329, 2331-2359, 2361-2399, 2370-2398 & 2332-2366 E. Pacifica Place; 20001-20021 Rancho Way Rancho Dominguez, CA — 121,329 86,776 13,130 121,329 99,906 221,235 (18,535) 1989 / 2021 2017 11190 White Birch Drive Rancho Cucamonga, CA — 9,405 9,840 705 9,405 10,545 19,950 (2,094) 1986 2017 4832-4850 Azusa Canyon Road Irwindale, CA — 5,330 8,856 7 5,330 8,863 14,193 (1,645) 2016 2017 1825 Soto Street Los Angeles, CA — 2,129 1,315 203 2,129 1,518 3,647 (275) 1993 2017 19402 Susana Road Rancho Dominguez, CA — 3,524 357 5 3,524 362 3,886 (130) 1957 2017 13225 Western Avenue Gardena, CA — 1,918 355 363 1,918 718 2,636 (124) 1955 2017 15401 Figueroa Street Los Angeles, CA — 3,255 1,248 787 3,255 2,035 5,290 (334) 1964 / 2018 2017 8542 Slauson Avenue Pico Rivera, CA — 8,681 576 1,089 8,681 1,665 10,346 (390) 1964 2017 687 Eucalyptus Avenue Inglewood, CA — 37,035 15,120 275 37,035 15,395 52,430 (2,501) 2017 2017 302 Rockefeller Avenue Ontario, CA — 6,859 7,185 14 6,859 7,199 14,058 (1,261) 2000 2017 4355 Brickell Street Ontario, CA — 7,295 5,616 71 7,295 5,687 12,982 (1,093) 2004 2017 12622-12632 Monarch Street Garden Grove, CA — 11,691 8,290 1,135 11,691 9,425 21,116 (1,832) 1967 2017 8315 Hanan Way Pico Rivera, CA — 8,714 4,751 180 8,714 4,931 13,645 (875) 1976 2017 13971 Norton Avenue Chino, CA — 5,293 6,377 174 5,293 6,551 11,844 (1,217) 1990 2018 1900 Proforma Avenue Ontario, CA — 10,214 5,127 950 10,214 6,077 16,291 (1,530) 1989 2018 16010 Shoemaker Avenue Cerritos, CA — 9,927 6,948 128 9,927 7,076 17,003 (1,223) 1985 2018 4039 Calle Platino Oceanside, CA — 9,476 11,394 698 9,476 12,092 21,568 (2,067) 1991 2018 851 Lawrence Drive Thousand Oaks, CA — 6,717 — 13,367 6,717 13,367 20,084 (238) 1968 / 2021 2018 Initial Cost Costs Capitalized Subsequent to Acquisition (1) Gross Amounts at Which Carried at Close of Period Property Address Location Encumbrances Land Building and Improvements Building and Improvements Land (2) Building & Improvements (2) Total Accumulated Depreciation (3) Year Build / Year Renovated Year Acquired 1581 North Main Street Orange, CA — 4,230 3,313 45 4,230 3,358 7,588 (538) 1994 2018 1580 West Carson Street Long Beach, CA — 5,252 2,496 2,018 5,252 4,514 9,766 (611) 1982 / 2018 2018 660 & 664 North Twin Oaks Valley Road San Marcos, CA — 6,307 6,573 145 6,307 6,718 13,025 (1,228) 1978 - 1988 2018 1190 Stanford Court Anaheim, CA — 3,583 2,430 133 3,583 2,563 6,146 (411) 1979 2018 5300 Sheila Street Commerce, CA — 90,568 54,086 218 90,568 54,304 144,872 (8,988) 1975 2018 15777 Gateway Circle Tustin, CA — 3,815 4,292 20 3,815 4,312 8,127 (631) 2005 2018 1998 Surveyor Avenue Simi Valley, CA — 3,670 2,263 4,754 3,670 7,017 10,687 (861) 2018 2018 3100 Fujita Street Torrance, CA — 7,723 5,649 206 7,723 5,855 13,578 (983) 1970 2018 4416 Azusa Canyon Road Irwindale, CA — 10,762 1,567 1,543 10,762 3,110 13,872 (230) 1956 2018 1420 McKinley Avenue Compton, CA — 17,053 13,605 143 17,053 13,748 30,801 (2,074) 2017 2018 12154 Montague Street Pacoima, CA — 10,114 12,767 657 10,114 13,424 23,538 (1,763) 1974 2018 10747 Norwalk Boulevard Santa Fe Springs, CA — 5,646 4,966 257 5,646 5,223 10,869 (751) 1999 2018 29003 Avenue Sherman Valencia, CA — 3,094 6,467 1,734 3,094 8,201 11,295 (657) 2000 / 2019 2018 16121 Carmenita Road Cerritos, CA — 10,013 3,279 3,697 10,013 6,976 16,989 (662) 1969/1983, 2020 2018 1332-1340 Rocky Point Drive Oceanside, CA — 3,816 6,148 363 3,816 6,511 10,327 (840) 2009 / 2019 2018 6131-6133 Innovation Way Carlsbad, CA — 10,545 11,859 113 10,545 11,972 22,517 (1,702) 2017 2018 263-321 Gardena Boulevard Carson, CA — 14,302 1,960 199 14,302 2,159 16,461 (568) 1977 - 1982 2018 9200 Mason Avenue Chatsworth, CA — 4,887 4,080 — 4,887 4,080 8,967 (571) 1968 2018 9230 Mason Avenue Chatsworth, CA — 4,454 955 — 4,454 955 5,409 (207) 1974 2018 9250 Mason Avenue Chatsworth, CA — 4,034 2,464 — 4,034 2,464 6,498 (372) 1977 2018 9171 Oso Avenue Chatsworth, CA — 5,647 2,801 — 5,647 2,801 8,448 (480) 1980 2018 5593-5595 Fresca Drive La Palma, CA — 11,414 2,502 173 11,414 2,675 14,089 (474) 1973 2018 6100 Sheila Street Commerce, CA — 11,789 5,214 390 11,789 5,604 17,393 (1,191) 1960 2018 14421-14441 Bonelli Street City of Industry, CA — 12,191 7,489 202 12,191 7,691 19,882 (1,076) 1971 2018 12821 Knott Street Garden Grove, CA — 17,896 2,824 13,812 17,896 16,636 34,532 — 1971 2019 28510 Industry Drive Valencia, CA — 2,395 5,466 126 2,395 5,592 7,987 (650) 2017 2019 Conejo Spectrum Business Park Thousand Oaks, CA — 38,877 64,721 1,860 38,877 66,581 105,458 (7,600) 2018 / 2020 2019 2455 Ash Street Vista, CA — 4,273 1,966 207 4,273 2,173 6,446 (363) 1990 2019 Initial Cost Costs Capitalized Subsequent to Acquisition (1) Gross Amounts at Which Carried at Close of Period Property Address Location Encumbrances Land Building and Improvements Building and Improvements Land (2) Building & Improvements (2) Total Accumulated Depreciation (3) Year Build / Year Renovated Year Acquired 25413 Rye Canyon Road Santa Clarita, CA — 3,245 2,352 966 3,245 3,318 6,563 (396) 1981 2019 1515 15th Street Los Angeles, CA — 23,363 5,208 2,390 23,363 7,598 30,961 (646) 1977 2019 13890 Nelson Avenue City of Industry, CA — 25,642 14,616 104 25,642 14,720 40,362 (1,742) 1982 2019 445-449 Freedom Avenue Orange, CA — 9,084 8,286 496 9,084 8,782 17,866 (975) 1980 2019 2270 Camino Vida Roble Carlsbad, CA — 8,102 8,179 2,827 8,102 11,006 19,108 (1,430) 1981 2019 980 Rancheros Drive San Marcos, CA — 2,901 4,245 255 2,901 4,500 7,401 (523) 1982 2019 1145 Arroyo Avenue San Fernando, CA — 19,556 9,567 321 19,556 9,888 29,444 (1,209) 1989 2019 1150 Aviation Place San Fernando, CA — 18,989 10,067 — 18,989 10,067 29,056 (1,324) 1989 2019 1175 Aviation Place San Fernando, CA — 12,367 4,858 129 12,367 4,987 17,354 (663) 1989 2019 1245 Aviation Place San Fernando, CA — 16,407 9,572 29 16,407 9,601 26,008 (1,189) 1989 2019 635 8th Street San Fernando, CA — 8,787 5,922 2,037 8,787 7,959 16,746 (513) 1989 2019 10015 Waples Court San Diego, CA — 12,280 9,198 5,463 12,280 14,661 26,941 (776) 1988 / 2020 2019 19100 Susana Road Rancho Dominguez, CA — 11,576 2,265 337 11,576 2,602 14,178 (398) 1956 2019 15385 Oxnard Street Van Nuys, CA — 11,782 5,212 204 11,782 5,416 17,198 (625) 1988 2019 9750-9770 San Fernando Road Sun Valley, CA — 6,718 543 72 6,718 615 7,333 (158) 1952 2019 218 S. Turnbull Canyon City of Industry, CA — 19,075 8,061 274 19,075 8,335 27,410 (1,063) 1999 2019 Limonite Ave. & Archibald Ave. Eastvale, CA — 23,848 — 31,554 23,848 31,554 55,402 (1,251) 2020 2019 3340 San Fernando Road Los Angeles, CA — 2,885 147 (115) 2,770 147 2,917 (45) N/A 2019 5725 Eastgate Drive San Diego, CA — 6,543 1,732 332 6,543 2,064 8,607 (318) 1995 2019 18115 Main Street Carson, CA — 7,142 776 122 7,142 898 8,040 (150) 1988 2019 3150 Ana Street Rancho Dominguez, CA — 15,997 3,036 — 15,997 3,036 19,033 (358) 1957 2019 1402 Avenida Del Oro Oceanside, CA — 33,006 34,439 22 33,006 34,461 67,467 (3,735) 2016 2019 9607-9623 Imperial Highway Downey, CA — 9,766 865 1,440 9,766 2,305 12,071 (240) 1974 2019 12200 Bellflower Boulevard Downey, CA — 14,960 2,057 425 14,960 2,482 17,442 (326) 1955 2019 Initial Cost Costs Capitalized Subsequent to Acquisition (1) Gross Amounts at Which Carried at Close of Period Property Address Location Encumbrances Land Building and Improvements Building and Improvements Land (2) Building & Improvements (2) Total Accumulated Depreciation (3) Year Build / Year Renovated Year Acquired Storm Parkway Torrance, CA — 42,178 21,987 508 42,178 22,495 64,673 (2,247) 1982 - 2008 2019 2328 Teller Road Newbury Park, CA — 8,330 14,304 1,128 8,330 15,432 23,762 (1,539) 1970 / 2018 2019 6277-6289 Slauson Avenue Commerce, CA — 27,809 11,454 738 27,809 12,192 40,001 (1,262) 1962 - 1977 2019 750 Manville Street Compton, CA — 8,283 2,784 352 8,283 3,136 11,419 (312) 1977 2019 8985 Crestmar Point San Diego, CA — 6,990 1,350 355 6,990 1,705 8,695 (263) 1988 2019 404-430 Berry Way Brea, CA — 21,047 4,566 1,271 21,047 5,837 26,884 (702) 1964 - 1967 2019 415-435 Motor Avenue Azusa, CA — 7,364 — 6,047 7,364 6,047 13,411 — 1956 2019 508 East E Street Wilmington, CA — 10,742 4,380 63 10,742 4,443 15,185 (457) 1988 2019 12752-12822 Monarch Street Garden Grove, CA — 29,404 4,262 2,231 29,404 6,493 35,897 (538) 1971 2019 1601 Mission Blvd. Pomona, CA — 67,623 18,962 103 67,623 19,065 86,688 (2,358) 1952 2019 2757 Del Amo Blvd. Rancho Dominguez, CA — 10,035 2,073 18 10,035 2,091 12,126 (276) 1967 2019 18250 Euclid Street Fountain Valley, CA — 11,116 3,201 — 11,116 3,201 14,317 (302) 1974 2019 701-751 Kingshill Place Carson, CA 7,100 23,016 10,344 3,802 23,016 14,146 37,162 (921) 1979 / 2020 2020 2601-2641 Manhattan Beach Blvd Redondo Beach, CA 3,951 30,333 9,427 3,267 30,333 12,694 43,027 (916) 1978 2020 2410-2420 Santa Fe Avenue Redondo Beach, CA 10,300 24,310 13,128 6 24,310 13,134 37,444 (998) 1977 2020 11600 Los Nietos Road Santa Fe Springs, CA 2,626 12,033 4,666 2,043 12,033 6,709 18,742 (235) 1976 2020 5160 Richton Street Montclair, CA 4,272 7,199 8,203 331 7,199 8,534 15,733 (673) 2004 2020 2205 126th Street Hawthorne, CA 5,200 11,407 6,834 737 11,407 7,571 18,978 (653) 1998 2020 11832-11954 La Cienega Blvd Hawthorne, CA 4,002 13,625 5,721 618 13,625 6,339 19,964 (591) 1999 2020 7612-7642 Woodwind Drive Huntington Beach, CA 3,806 10,634 2,901 43 10,634 2,944 13,578 (269) 2001 2020 960-970 Knox Street Torrance, CA 2,399 7,324 2,380 806 7,324 3,186 10,510 (264) 1976 2020 25781 Atlantic Ocean Drive Lake Forest, CA — 4,358 1,067 — 4,358 1,067 5,425 (108) 1996 2020 720-750 Vernon Avenue Azusa, CA — 14,088 1,638 4 14,088 1,642 15,730 (209) 1950 2020 6687 Flotilla Street Commerce, CA — 14,501 6,053 445 14,501 6,498 20,999 (472) 1956 2020 1055 Sandhill Avenue Carson, CA — 11,970 — 3,183 11,970 3,183 15,153 — 1973 2020 22895 Eastpark Drive Yorba Linda, CA 2,682 5,337 1,370 — 5,337 1,370 6,707 (121) 1986 2020 Initial Cost Costs Capitalized Subsequent to Acquisition (1) Gross Amounts at Which Carried at Close of Period Property Address Location Encumbrances Land Building and Improvements Building and Improvements Land (2) Building & Improvements (2) Total Accumulated Depreciation (3) Year Build / Year Renovated Year Acquired 8745-8775 Production Avenue San Diego, CA — 6,471 1,551 1,548 6,471 3,099 9,570 (184) 1974 / 2021 2020 15850 Slover Avenue Fontana, CA — 3,634 6,452 55 3,634 6,507 10,141 (388) 2020 2020 15650-15700 Avalon Blvd Los Angeles, CA — 22,353 5,988 3,186 22,353 9,174 31,527 (303) 1962 - 1978 2020 11308-11350 Penrose Street Sun Valley, CA — 15,884 11,169 161 15,884 11,330 27,214 (735) 1974 2020 11076-11078 Fleetwood Street Sun Valley, CA — 3,217 1,446 1,037 3,217 2,483 5,700 (95) 1974 2020 12133 Greenstone Avenue Santa Fe Springs, CA — 5,900 891 1,718 5,900 2,609 8,509 (42) 1967 2020 12772 San Fernando Road Sylmar, CA — 17,302 3,832 284 17,302 4,116 21,418 (244) 1964 / 2013 2020 15601 Avalon Blvd Los Angeles, CA — 15,776 — 1,682 15,776 1,682 17,458 — 1984 2020 Gateway Pointe Whittier, CA — 132,659 154,250 1,106 132,659 155,356 288,015 (6,723) 2005 - 2006 2020 13943-13955 Balboa Blvd Sylmar, CA 15,320 26,795 18,484 66 26,795 18,550 45,345 (936) 2000 2020 Van Nuys Airport Industrial Center Van Nuys, CA — 91,894 58,625 654 91,894 59,279 151,173 (2,589) 1961 - 2007 2020 4039 State Street Montclair, CA — 12,829 15,485 40 12,829 15,525 28,354 (672) 2020 2020 10156 Live Oak Avenue Fontana, CA — 19,779 27,186 7 19,779 27,193 46,972 (1,082) 2020 2020 10694 Tamarind Avenue Fontana, CA — 8,878 12,325 190 8,878 12,515 21,393 (518) 2020 2020 2520 Baseline Road Rialto, CA — 12,513 16,377 172 12,513 16,549 29,062 (690) 2020 2020 12211 Greenstone Avenue Santa Fe Springs, CA — 15,729 1,636 — 15,729 1,636 17,365 (139) N/A 2020 East 27th Street Los Angeles, CA — 40,332 21,842 186 40,332 22,028 62,360 (1,036) 1961 - 2004 2020 2750 Alameda Street Los Angeles, CA — 24,644 5,771 59 24,644 5,830 30,474 (380) 1961 - 1980 2020 29010 Avenue Paine Valencia, CA — 7,401 8,168 845 7,401 9,013 16,414 (345) 2000 2020 29010 Commerce Center Drive Valencia, CA — 10,499 13,832 3 10,499 13,835 24,334 (579) 2002 2020 13369 Valley Blvd Fontana, CA — 9,675 10,393 26 9,675 10,419 20,094 (474) 2005 2020 6635 Caballero Blvd Buena Park, CA — 14,288 7,919 106 14,288 8,025 22,313 (345) 2003 2020 1235 South Lewis Street Anaheim, CA — 16,984 1,519 203 16,984 1,722 18,706 (104) 1956 2020 15010 Don Julian Road City of Industry, CA — 24,017 — 796 24,017 796 24,813 (2) 1963 2021 5002-5018 Lindsay Court Chino, CA — 6,996 5,658 403 6,996 6,061 13,057 (228) 1986 2021 514 East C Street Los Angeles, CA — 9,114 1,205 1 9,114 1,206 10,320 (66) 2019 2021 17907-18001 Figueroa Street Los Angeles, CA — 18,065 1,829 131 18,065 1,960 20,025 (131) 1954 - 1960 2021 Initial Cost Costs Capitalized Subsequent to Acquisition (1) Gross Amounts at Which Carried at Close of Period Property Address Location Encumbrances Land Building and Improvements Building and Improvements Land (2) Building & Improvements (2) Total Accumulated Depreciation (3) Year Build / Year Renovated Year Acquired 7817 Woodley Avenue Van Nuys, CA 3,132 5,496 4,615 — 5,496 4,615 10,111 (171) 1974 2021 8888-8992 Balboa Avenue San Diego, CA — 20,033 — 909 20,033 909 20,942 — 1967 2021 9920-10020 Pioneer Blvd Santa Fe Springs, CA — 21,345 2,118 2,116 21,345 4,234 25,579 — 1973 - 1978 2021 2553 Garfield Avenue Commerce, CA — 3,846 649 98 3,846 747 4,593 (43) 1954 2021 6655 East 26th Street Commerce, CA — 5,195 1,780 27 5,195 1,807 7,002 (72) 1965 2021 560 Main Street Orange, CA — 2,660 432 109 2,660 541 3,201 (29) 1973 2021 4225 Etiwanda Avenue Jurupa Valley, CA — 16,287 15,537 98 16,287 15,635 31,922 (528) 1998 2021 12118 Bloomfield Avenue Santa Fe Springs, CA — 16,809 — 168 16,809 168 16,977 (1) 1955 2021 256 Alondra Blvd Carson, CA — 10,377 371 250 10,377 621 10,998 (37) 1954 2021 19007 Reyes Avenue Rancho Dominguez, CA — 16,673 — 1,103 16,673 1,103 17,776 (1) 1969 / 2021 2021 19431 Santa Fe Avenue Rancho Dominguez, CA — 10,066 638 27 10,066 665 10,731 (48) 1963 2021 4621 Guasti Road Ontario, CA — 8,198 5,231 35 8,198 5,266 13,464 (140) 1988 2021 12838 Saticoy Street North Hollywood, CA — 25,550 2,185 — 25,550 2,185 27,735 (93) 1954 2021 19951 Mariner Avenue Torrance, CA — 17,009 7,674 — 17,009 7,674 24,683 (259) 1986 2021 2425-2535 East 12th Street Los Angeles, CA — 48,409 40,756 284 48,409 41,040 89,449 (935) 1988 2021 29120 Commerce Center Drive Valencia, CA — 11,121 15,799 — 11,121 15,799 26,920 (359) 2002 2021 20304 Alameda Street Rancho Dominguez, CA — 11,987 1,663 — 11,987 1,663 13,650 (57) 1974 2021 4181 Ruffin Road San Diego, CA — 30,395 3,530 1 30,395 3,531 33,926 (178) 1987 2021 12017 Greenstone Avenue Santa Fe Springs, CA — 13,408 205 603 13,408 808 14,216 (16) N/A 2021 1901 Via Burton Fullerton, CA — 24,461 — 1,027 24,461 1,027 25,488 — 1960 2021 1555 Cucamonga Avenue Ontario, CA — 20,153 2,134 — 20,153 2,134 22,287 (76) 1973 2021 1800 Lomita Blvd Wilmington, CA — 89,711 542 — 89,711 542 90,253 (29) N/A 2021 8210-8240 Haskell Avenue Van Nuys, CA — 9,219 3,331 267 9,219 3,598 12,817 — 1962 - 1964 2021 3100 Lomita Blvd Torrance, CA — 124,313 65,282 621 124,313 65,903 190,216 (1,366) 1967 - 1998 2021 Initial Cost Costs Capitalized Subsequent to Acquisition (1) Gross Amounts at Which Carried at Close of Period Property Address Location Encumbrances Land Building and Improvements Building and Improvements Land (2) Building & Improvements (2) Total Accumulated Depreciation (3) Year Build / Year Renovated Year Acquired 2401-2421 Glassell Street Orange, CA — 54,554 16,599 55 54,554 16,654 71,208 (423) 1987 2021 2390-2444 American Way Orange, CA — 17,214 — 444 17,214 444 17,658 — N/A 2021 500 Dupont Avenue Ontario, CA — 36,810 26,489 327 36,810 26,816 63,626 (412) 1987 2021 1801 St Andrew Place Santa Ana, CA — 75,978 24,522 — 75,978 24,522 100,500 (396) 1987 2021 5772 Jurupa Street Ontario, CA — 36,590 20,010 — 36,590 20,010 56,600 (257) 1992 2021 2500 Victoria Street Los Angeles, CA — 232,902 — — 232,902 — 232,902 — N/A 2021 1010 Belmont Street Ontario, CA — 9,078 5,751 — 9,078 5,751 14,829 (53) 1987 2021 21515 Western Avenue Torrance, CA 13,104 19,280 — 48 19,280 48 19,328 — 1991 2021 12027 Greenstone Avenue Santa Fe Springs, CA — 8,952 469 2 8,952 471 9,423 (8) 1975 2021 6027 Eastern Avenue Commerce, CA — 23,494 — 200 23,494 200 23,694 — 1946 2021 340-344 Bonnie Circle Corona, CA — 18,044 9,506 1 18,044 9,507 27,551 (54) 1994 2021 14100 Vine Place Cerritos, CA — 40,458 8,660 — 40,458 8,660 49,118 (50) 1979 2021 2280 Ward Avenue Simi Valley, CA — 23,301 24,832 — 23,301 24,832 48,133 (140) 1995 2021 20481 Crescent Bay Drive Lake Forest, CA — 16,164 6,054 — 16,164 6,054 22,218 (35) 1996 2021 334 El Encanto Road City of Industry, CA — 9,227 1,272 — 9,227 1,272 10,499 (4) 1960 2021 17031-17037 Green Drive City of Industry, CA — 10,781 3,302 — 10,781 3,302 14,083 (7) 1968 2021 13512 Marlay Avenue Fontana, CA — 37,018 15,365 — 37,018 15,365 52,383 (30) 1960 2021 14940 Proctor Road City of Industry, CA — 28,861 — — 28,861 — 28,861 — 1962 2021 2800 Casitas Avenue Los Angeles, CA — 33,154 10,833 — 33,154 10,833 43,987 (18) 1999 2021 4240 190th Street Torrance, CA — 67,982 9,882 — 67,982 9,882 77,864 (22) 1966 2021 2391-2393 Bateman Avenue Irwindale, CA — 13,363 9,811 — 13,363 9,811 23,174 (16) 2005 2021 1168 Sherborn Street Corona, CA — 13,747 9,796 — 13,747 9,796 23,543 (16) 2004 2021 3071 Coronado Street Anaheim, CA — 29,862 — — 29,862 — 29,862 — 1973 2021 8911 Aviation Blvd Los Angeles, CA — 27,138 4,780 — 27,138 4,780 31,918 (10) 1971 2021 1020 Bixby Drive City of Industry, CA — 10,067 6,046 — 10,067 6,046 16,113 (11) 1977 2021 Investments in real estate $ 80,013 $ 4,145,557 $ 2,353,623 $ 436,416 $ 4,143,021 $ 2,788,051 $ 6,931,072 $ (473,382) Note: As of December 31, 2021, the aggregate cost for federal income tax purposes of investments in real estate was approximately $6.7 billion. (1) Costs capitalized subsequent to acquisition are net of the write-off of fully depreciated assets and include construction in progress. (2) During 2009, we recorded impairment charges totaling $19.6 million in continuing operations (of which $9.5 million relates to properties still owned by us) to write down our investments in real e

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Consolidation	Basis of Presentation and Principles of Consolidation The accompanying financial statements are the consolidated financial statements of Rexford Industrial Realty, Inc. and its subsidiaries, including our Operating Partnership. All significant intercompany balances and transactions have been eliminated in the consolidated financial statements. Under consolidation guidance, we have determined that our Operating Partnership is a variable interest entity because the holders of limited partnership interests do not have substantive kick-out rights or participating rights. Furthermore, we are the primary beneficiary of the Operating Partnership because we have the obligation to absorb losses and the right to receive benefits from the Operating Partnership and the exclusive power to direct the activities of the Operating Partnership. As of December 31, 2021 and 2020, the assets and liabilities of the Company and the Operating Partnership are substantially the same, as the Company does not have any significant assets other than its investment in the Operating Partnership.
Basis of Accounting	The accompanying consolidated financial statements have been prepared in conformity with U.S. Generally Accepted Accounting Principles (“GAAP”) as established by the Financial Accounting Standards Board (“FASB”) in the Accounting Standards Codification (“ASC”) including modifications issued under Accounting Standards Updates (“ASUs”). Any reference to the number of properties, buildings and square footage are unaudited and outside the scope of our independent auditor’s audit of our financial statements in accordance with the standards of the Public Company Accounting Oversight Board.
Use of Estimates	Use of EstimatesThe preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents Cash and cash equivalents include all cash and liquid investments with an initial maturity of three months or less. The carrying amount approximates fair value due to the short-term maturity of these investments. Restricted Cash Restricted cash is comprised of escrow reserves that we are required to set aside for future costs as required by certain agreements with our lenders, and from time to time, includes cash proceeds from property sales that are being held by qualified intermediaries for purposes of facilitating tax-deferred like-kind exchanges under Section 1031 of the Internal Revenue Code of 1986, as amended (the “Code”). Restricted cash balances are included with cash and cash equivalent balances as of the beginning and ending of each period presented in the consolidated statements of cash flows. The following table provides a reconciliation of our cash and cash equivalents and restricted cash at the beginning and end of the years ended December 31, 2021 and 2020 (in thousands): Year Ended December 31, 2021 2020 Cash and cash equivalents $ 176,293 $ 78,857 Restricted cash 1,230 — Cash, cash equivalents and restricted cash, beginning of period $ 177,523 $ 78,857 Cash and cash equivalents $ 43,987 $ 176,293 Restricted cash 11 1,230 Cash, cash equivalents and restricted cash, end of period $ 43,998 $ 177,523
Investment in Real Estate	Investments in Real Estate Acquisitions We account for acquisitions of properties under ASU 2017-01, Business Combinations–Clarifying the Definition of a Business , which provides a framework for determining whether transactions should be accounted for as acquisitions of assets or businesses and further revises the definition of a business. Our acquisitions of properties generally no longer meet the revised definition of a business and accordingly are accounted for as asset acquisitions. For asset acquisitions, we allocate the cost of the acquisition, which includes the purchase price and associated acquisition transaction costs, to the individual assets acquired and liabilities assumed on a relative fair value basis. These individual assets and liabilities typically include land, building and improvements, tenant improvements, intangible assets and liabilities related to above- and below-market leases, intangible assets related to in-place leases, and from time to time, assumed mortgage debt. As there is no measurement period concept for an asset acquisition, the allocated cost of the acquired assets is finalized in the period in which the acquisition occurs. We determine the fair value of the tangible assets of an acquired property by valuing the property as if it were vacant. This “as-if vacant” value is estimated using an income, or discounted cash flow, approach that relies upon Level 3 inputs, which are unobservable inputs based on the Company’s assumptions with respect to the assumptions a market participant would use. These Level 3 inputs include discount rates, capitalization rates, market rental rates and comparable sales data for similar properties. Estimates of future cash flows are based on a number of factors including historical operating results, known and anticipated trends, and market and economic conditions. In determining the “as-if-vacant” value for the properties we acquired during the year ended December 31, 2021, we used discount rates ranging from 5.00% to 7.75% and exit capitalization rates ranging from 4.00% to 6.50%. In determining the fair value of intangible lease assets or liabilities, we also consider Level 3 inputs. Acquired above- and below-market leases are valued based on the present value of the difference between prevailing market rental rates and the in-place rental rates measured over a period equal to the remaining term of the lease for above-market leases and the initial term plus the term of any below-market fixed rate renewal options for below-market leases, if applicable. The estimated fair value of acquired in-place at-market tenant leases are the estimated costs that would have been incurred to lease the property to the occupancy level of the property at the date of acquisition. We consider estimated costs such as the value associated with leasing commissions, legal and other costs, as well as the estimated period of time necessary to lease such a property to its occupancy level at the time of its acquisition. In determining the fair value of acquisitions completed during the year ended December 31, 2021, we used an estimated average lease-up period ranging from six months to twelve months. The difference between the fair value and the face value of debt assumed, if any, in connection with an acquisition is recorded as a premium or discount and amortized to “interest expense” over the life of the debt assumed. The valuation of assumed liabilities are based on our estimate of the current market rates for similar liabilities in effect at the acquisition date. In determining the fair value of debt assumed during the year ended December 31, 2021, we used estimated market interest rates ranging from 3.75% to 4.50%. Capitalization of Costs We capitalize direct costs incurred in developing, renovating, rehabilitating and improving real estate assets as part of the investment basis. This includes certain general and administrative costs, including payroll, bonus, and non-cash equity compensation of the personnel performing redevelopment, renovations and rehabilitation if such costs are identifiable to a specific activity to get the real estate asset ready for its intended use. During the redevelopment and construction periods of a project, we also capitalize interest, real estate taxes and insurance costs. We cease capitalization of costs upon substantial completion of the project, but no later than one year from cessation of major construction activity. If some portions of a project are substantially complete and ready for use and other portions have not yet reached that stage, we cease capitalizing costs on the completed portion of the project but continue to capitalize for the incomplete portion of the project. Costs incurred in making repairs and maintaining real estate assets are expensed as incurred. We capitalized interest costs of $4.5 million, $3.9 million and $3.9 million during the years ended December 31, 2021, 2020 and 2019, respectively. We capitalized real estate taxes and insurance aggregating $2.2 million, $1.2 million, and $1.3 million and during the years ended December 31, 2021, 2020 and 2019, respectively. We capitalized compensation costs for employees who provide construction services of $6.1 million, $4.1 million and $2.7 million during the years ended December 31, 2021, 2020 and 2019, respectively. Depreciation and Amortization Real estate, including land, building and land improvements, tenant improvements, furniture, fixtures and equipment and intangible lease assets and liabilities are stated at historical cost less accumulated depreciation and amortization, unless circumstances indicate that the cost cannot be recovered, in which case, the carrying value of the property is reduced to estimated fair value as discussed below in our policy with regard to impairment of long-lived assets. We estimate the depreciable portion of our real estate assets and related useful lives in order to record depreciation expense. The values allocated to buildings, site improvements, in-place lease intangibles and tenant improvements are depreciated on a straight-line basis using an estimated remaining life of 10-30 years for buildings, 5-20 years for site improvements, and the shorter of the estimated useful life or respective lease term for in-place lease intangibles and tenant improvements. As discussed above in— Investments in Real Estate — Acquisitions , in connection with property acquisitions, we may acquire leases with rental rates above or below the market rental rates. Such differences are recorded as an acquired lease intangible asset or liability and amortized to “rental income” over the remaining term of the related leases. Our estimate of the useful life of our assets is evaluated upon acquisition and when circumstances indicate that a change in the useful life has occurred, which requires significant judgment regarding the economic obsolescence of tangible and intangible assets.
Assets Held for Sale	Assets Held for Sale We classify a property as held for sale when all of the criteria set forth in ASC Topic 360: Property, Plant and Equipment (“ASC 360”) have been met. The criteria are as follows: (i) management, having the authority to approve the action, commits to a plan to sell the property; (ii) the property is available for immediate sale in its present condition, subject only to terms that are usual and customary; (iii) an active program to locate a buyer and other actions required to complete the plan to sell have been initiated; (iv) the sale of the property is probable and is expected to be completed within one year; (v) the property is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and (vi) actions necessary to complete the plan of sale indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. At the time we classify a property as held for sale, we cease recording depreciation and amortization. A property classified as held for sale is measured and reported at the lower of its carrying amount or its estimated fair value less cost to sell.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets In accordance with the provisions of the Impairment or Disposal of Long-Lived Assets Subsections of ASC 360, we assess the carrying values of our respective long-lived assets, including right-of-use assets (“ROU assets”), whenever events or changes in circumstances indicate that the carrying amounts of these assets may not be fully recoverable. Recoverability of real estate assets and other long-lived assets is measured by comparison of the carrying amount of the asset to the estimated future undiscounted cash flows. To review real estate assets for recoverability, we consider current market conditions as well as our intent with respect to holding or disposing of the asset. The intent with regards to the underlying assets might change as market conditions and other factors change. For office space ROU assets, the execution of a sublease where the remaining lease payments of the original office space lease exceed the sublease receipts reflects an indication of impairment which suggests the carrying value of the ROU asset may not be recoverable. Fair value is determined through various valuation techniques, including discounted cash flow models, applying a capitalization rate to estimated net operating income of a property, quoted market values and third-party appraisals, where considered necessary. The use of projected future cash flows is based on assumptions that are consistent with estimates of future expectations and the strategic plan used to manage our underlying business. If our analysis indicates that the carrying value of the real estate asset and other long-lived assets is not recoverable on an undiscounted cash flow basis, we will recognize an impairment charge for the amount by which the carrying value exceeds the current estimated fair value of the real estate property. Assumptions and estimates used in the recoverability analyses for future cash flows, discount rates and capitalization rates are complex and subjective. Changes in economic and operating conditions or our intent with respect to our investment that occur subsequent to our impairment analyses could impact these assumptions and result in future impairment of our real estate properties. During the years ended December 31, 2021, 2020 or 2019, there were no impairment charges recorded to the carrying value of our real estate properties. During the year ended December 31, 2021, in connection with the execution of a sublease for one of our office space leases, we recorded a $1.0 million impairment charge to reduce the carrying value of the related ROU asset. See “Note 6 – Leases” for details.
Income Taxes	Income Taxes We have elected to be taxed as a REIT under the Code commencing with our initial taxable year ended December 31, 2013. To qualify as a REIT, we are required (among other things) to distribute at least 90% of our REIT taxable income to our stockholders and meet the various other requirements imposed by the Code relating to matters such as operating results, asset holdings, distribution levels and diversity of stock ownership. Provided we qualify for taxation as a REIT, we are generally not subject to corporate-level income tax on the earnings distributed currently to our stockholders that we derive from our activities. If we fail to qualify as a REIT in any taxable year, and were unable to avail ourselves of certain savings provisions set forth in the Code, all of our taxable income would be subject to regular federal corporate income tax, including any applicable alternative minimum tax. In addition, we are subject to taxation by various state and local jurisdictions, including those in which we transact business or reside. Our non-taxable REIT subsidiaries, including our Operating Partnership, are either partnerships or disregarded entities for federal income tax purposes. Under applicable federal and state income tax rules, the allocated share of net income or loss from disregarded entities and flow-through entities such as partnerships is reportable in the income tax returns of the respective equity holders. Accordingly, no income tax provision is included in the accompanying consolidated financial statements for the years ended December 31, 2021, 2020 and 2019. We periodically evaluate our tax positions to determine whether it is more likely than not that such positions would be sustained upon examination by a tax authority for all open tax years, as defined by the statute of limitations, based on their technical merits. As of December 31, 2021 and 2020, we have not established a liability for uncertain tax positions.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities ASC Topic 815: Derivatives and Hedging (“ASC 815”), provides the disclosure requirements for derivatives and hedging activities with the intent to provide users of financial statements with an enhanced understanding of: (a) how and why an entity uses derivative instruments, (b) how the entity accounts for derivative instruments and related hedged items, and (c) how derivative instruments and related hedged items affect an entity’s financial position, financial performance, and cash flows. Further, qualitative disclosures are required that explain the Company’s objectives and strategies for using derivatives, as well as quantitative disclosures about the fair value of and gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative instruments. As required by ASC 815, we record all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, and whether we have elected to designate a derivative in a
Revenue Recognition	Revenue Recognition Our primary sources of revenue are rental income, management, leasing and development services and gains on sale of real estate. Rental Income We lease industrial space to tenants primarily under non-cancelable operating leases that generally contain provisions for minimum base rents plus reimbursement for certain operating expenses. Total minimum annual lease payments are recognized in rental income on a straight-line basis over the term of the related lease, regardless of when payments are contractually due, when collectability is probable. Rental revenue recognition commences when the tenant takes possession or controls the physical use of the leased space. Lease termination fees, which are included in rental income, are recognized when the related leases are canceled and we have no continuing obligation to provide services to such former tenants. Our lease agreements with tenants generally contain provisions that require tenants to reimburse us for certain property expenses. Estimated reimbursements from tenants for these property expenses, which include real estate taxes, insurance, common area maintenance and other recoverable operating expenses, are recognized as revenues in the period that the expenses are incurred. Subsequent to year-end, we perform final reconciliations on a lease-by-lease basis and bill or credit each tenant for any cumulative annual adjustments. As the timing and pattern of revenue recognition is the same and as the lease component would be classified as an operating lease if it were accounted for separately, rents and tenant reimbursements are treated as a combined lease component and presented as a single line item “Rental income” in our consolidated statements of operations. We record revenues and expenses on a gross basis for lessor costs (which include real estate taxes) when these costs are reimbursed to us by our tenants. Conversely, we record revenues and expenses on a net basis for lessor costs when they are paid by our tenants directly to the taxing authorities on our behalf. COVID-19 Lease Concessions From March 2020 through December 2020, we received rent relief requests from a number of tenants claiming impacts from COVID-19, many of whom we believe may have made such rent relief requests in response to local California governmental moratoriums on commercial tenant evictions and provisions enabling commercial tenants to defer rent. In response to these requests, during 2020 we granted the following forms of rent relief to certain tenants: (a) application of security deposits to contractual base rent, (b) acceleration of future rent concessions in the original lease contract to cover contractual base rent and (c) deferral of contractual base rent with a typical deferral period of approximately one to two months and repayment that was generally scheduled to begin in the third or fourth quarter of 2020. Pursuant to a FASB issued question-and-answer document which addressed frequently asked questions about accounting for concessions related to the effects of the COVID-19 pandemic, we elected to forgo the evaluation of the enforceable rights and obligations of our lease contracts and elected to account for each rent relief agreement granting lease concessions in the form of accelerated future rent concessions and/or rent deferrals as a lease modification under ASC 842. As these lease concessions generally have not substantially changed the amount of consideration in the original lease contract (only the timing of lease payments has changed), these lease concessions have not had a material impact on our consolidated financial statements to date. During 2020, we deferred $4.6 million of contractual base rent payments which represented approximately 1.4% of our total consolidated rental income for 2020. As of December 31, 2021, we have collected approximately $4.3 million, or 98.0%, of the deferred payments due as of December 31, 2021. Additionally, as of December 31, 2021, we had approximately $0.1 million of outstanding deferred payments. Management, leasing and development services We provide property management services and leasing services to related party and third-party property owners, the customer, in exchange for fees and commissions. Property management services include performing property inspections, monitoring repairs and maintenance, negotiating vendor contracts, maintaining tenant relations and providing financial and accounting oversight. For these services, we earn monthly management fees, which are based on a fixed percentage of each managed property’s monthly tenant cash receipts. We have determined that control over the services is passed to the customer simultaneously as performance occurs. Accordingly, management fee revenue is earned as the services are provided to our customers. Leasing commissions are earned when we provide leasing services that result in an executed lease with a tenant. We have determined that control over the services is transferred to the customer upon execution of each lease agreement. We earn leasing commissions based on a fixed percentage of rental income generated for each executed lease agreement and there is no variable income component. Gain or Loss on Sale of Real Estate We account for dispositions of real estate properties, which are considered nonfinancial assets, in accordance with ASC 610-20: Other Income—Gains and Losses from the Derecognition of Nonfinancial Assets and recognize a gain or loss on sale of real estate upon transferring control of the nonfinancial asset to the purchaser, which is generally satisfied at the time of sale. If we were to conduct a partial sale of real estate by transferring a controlling interest in a nonfinancial asset, while retaining a noncontrolling ownership interest, we would measure any noncontrolling interest received or retained at fair value, and recognize a full gain or loss. If we receive consideration before transferring control of a nonfinancial asset, we recognize a contract liability. If we transfer control of the asset before consideration is received, we recognize a contract asset. When leases contain purchase options, we assess the probability that the tenant will execute the purchase option both at lease commencement and at the time the tenant communicates its intent to exercise the purchase option. If we determine the exercise of the purchase option is reasonably certain, we will account for the lease as a sales-type lease and derecognize the associated real estate assets on our balance sheet and record a gain or loss on sale of real estate.
Valuation of Operating Lease Receivables	Valuation of Operating Lease Receivables We may be subject to tenant defaults and bankruptcies that could affect the collection of outstanding receivables, including deferred rent receivables arising from the straight-line recognition of rental income, related to our operating leases. In order to mitigate these risks, we perform credit reviews and analyses on prospective tenants before significant leases are executed and on existing tenants before properties are acquired. On a quarterly basis, we perform an assessment of the collectability of operating lease receivables on a tenant-by-tenant basis, which includes reviewing the age and nature of our receivables, the payment history and financial condition of the tenant, our assessment of the tenant’s ability to meet its lease obligations and the status of negotiations of any disputes with the tenant. For all periods subsequent to March 2020, our assessment has specifically included the impact of the COVID-19 pandemic, including but not limited to tenants who have requested and/or received rent relief as further described above under “—COVID-19 Lease Concessions.” Any changes in the collectability assessment for an operating lease is recognized as an adjustment, which can be a reduction or increase, to rental income in the consolidated statements of operations. As a result of our quarterly collectability assessments, we recognized $0.5 million, $5.0 million, and $0.7 million for the years ended December 31, 2021, 2020, and 2019 respectively, as a net reduction of rental income in the consolidated statements of operations.
Deferred Leasing Costs	Deferred Leasing Costs We capitalize the incremental direct costs of originating a lease that would not have been incurred had the lease not been executed. As a result, deferred leasing costs will generally only include third-party broker commissions.
Debt Issuance Costs	Debt Issuance Costs Debt issuance costs related to a recognized debt liability are presented in the balance sheet as a reduction from the carrying value of the debt liability. This offset against the debt liability is treated similarly to a debt discount, which effectively reduces the proceeds of a borrowing. For line of credit arrangements, we present debt issuance costs as an asset and amortize the cost over the term of the line of credit arrangement. See “Note 5 –Notes Payable” for details.
Equity Based Compensation	Equity Based Compensation We account for equity-based compensation in accordance with ASC Topic 718 Compensation – Stock Compensation . Total compensation cost for all share-based awards is based on the estimated fair market value of the equity instrument issued on the grant date. For share-based awards that vest based solely on a service condition, we recognize compensation cost on a
Equity Offerings	Equity Offerings Underwriting commissions and offering costs incurred in connection with common stock offerings and our at-the-market equity program have been reflected as a reduction of additional paid-in capital. Underwriting commissions and offering costs related to our preferred stock issuances have been reflected as a direct reduction of the preferred stock balance. Sales of our common stock under forward equity sale agreements (as discussed in Note 11) meet the derivatives and hedging guidance scope exception to be accounted for as equity instruments based on the following assessment: (i) none of the agreements’ exercise contingencies were based on observable markets or indices besides those related to the market for our own stock price and operations; and (ii) none of the settlement provisions precluded the agreements from being indexed to our own stock.
Earnings Per Share	Earnings Per Share We calculate earnings per share (“EPS”) in accordance with ASC 260 – Earnings Per Share (“ASC 260”). Under ASC 260, unvested share-based payment awards that contain non-forfeitable rights to dividends are participating securities and, therefore, are included in the computation of basic EPS pursuant to the two-class method. The two-class method determines EPS for each class of common stock and participating securities according to dividends declared (or accumulated) and their respective participation rights in undistributed earnings. Basic EPS is calculated by dividing the net income (loss) attributable to common stockholders by the weighted average number of shares of common stock outstanding for the period. Diluted EPS is calculated by dividing the net income (loss) attributable to common stockholders by the weighted average number of shares of common stock outstanding determined for the basic EPS computation plus the potential effect of any dilutive securities including shares issuable under forward equity sale agreements and unvested share-based awards under the treasury stock method. We include unvested shares of restricted stock and unvested LTIP units in the computation of diluted EPS by using the more dilutive of the two-class method or treasury stock method. We include unvested performance units as contingently issuable shares in the computation of diluted EPS once the market criteria are met, assuming that the end of the reporting period is the end of the contingency period. Any anti-dilutive securities are excluded from the diluted EPS calculation. See “Note 14 – Earnings Per Share” for details.
Segment Reporting	Segment ReportingManagement views the Company as a single reportable segment based on its method of internal reporting in addition to its allocation of capital and resources.
Leases as a Lessee	Leases as a Lessee We determine if an arrangement is a lease at inception. Operating lease ROU assets are included in “Other assets” and lease liabilities are included in “Accounts payable, accrued expenses and other liabilities” in our consolidated balance sheets. ROU assets represent our right to use, or control the use of, a specified asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. Because our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Our lease terms may include options to extend the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is generally recognized on a straight-line basis over the term of the lease through the amortization of the ROU assets and lease liabilities. Additionally, for our operating leases, we do not separate non-lease components, such as common area maintenance, from associated lease components. See “Note 6 – Leases” for additional lessee disclosures required under ASC 842.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Reference Rate Reform On March 12, 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”). ASU 2020-04 contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. During the first quarter of 2020, we elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives in our financial statements consistent with past presentation. We continue to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Schedule of Cash, Cash Equivalents and Restricted Cash	The following table provides a reconciliation of our cash and cash equivalents and restricted cash at the beginning and end of the years ended December 31, 2021 and 2020 (in thousands): Year Ended December 31, 2021 2020 Cash and cash equivalents $ 176,293 $ 78,857 Restricted cash 1,230 — Cash, cash equivalents and restricted cash, beginning of period $ 177,523 $ 78,857 Cash and cash equivalents $ 43,987 $ 176,293 Restricted cash 11 1,230 Cash, cash equivalents and restricted cash, end of period $ 43,998 $ 177,523

Investments in Real Estate (Tab

Investments in Real Estate (Tables)	12 Months Ended
	Dec. 31, 2021
Investments, All Other Investments [Abstract]
Summary of Acquired Wholly Owned Property Acquisitions	The following table summarizes the wholly-owned industrial properties we acquired during the year ended December 31, 2021: Property Submarket Date of Acquisition Rentable Square Feet Number of Buildings Contractual Purchase Price (1) (in thousands) 15010 Don Julian Road (2) Los Angeles - San Gabriel Valley 1/5/2021 92,925 1 $ 22,200 5002-5018 Lindsay Court San Bernardino - Inland Empire West 1/11/2021 64,960 1 12,650 514 East C Street (3) Los Angeles - South Bay 1/14/2021 3,436 1 9,950 17907-18001 Figueroa Street Los Angeles - South Bay 1/26/2021 74,810 6 20,200 7817 Woodley Avenue (4) Los Angeles - San Fernando Valley 1/27/2021 36,900 1 9,963 8888-8892 Balboa Avenue (2) San Diego - Central 2/4/2021 86,637 2 19,800 9920-10020 Pioneer Boulevard Los Angeles - Mid-Counties 2/19/2021 157,669 7 23,500 2553 Garfield Avenue Los Angeles - Central 3/19/2021 25,615 1 3,900 6655 East 26th Street Los Angeles - Central 3/19/2021 47,500 1 6,500 560 Main Street Orange County - North 3/19/2021 17,000 1 2,600 4225 Etiwanda Avenue San Bernardino - Inland Empire West 3/23/2021 134,500 1 32,250 12118 Bloomfield Avenue (2) Los Angeles - Mid-Counties 4/14/2021 63,000 4 16,650 256 Alondra Boulevard (3) Los Angeles - South Bay 4/15/2021 2,456 1 11,250 19007 Reyes Avenue (2)(3) Los Angeles - South Bay 4/23/2021 — — 16,350 19431 Santa Fe Avenue (3) Los Angeles - South Bay 4/30/2021 14,793 3 10,500 4621 Guasti Road San Bernardino - Inland Empire West 5/21/2021 64,512 1 13,335 12838 Saticoy Street Los Angeles - San Fernando Valley 6/15/2021 100,390 1 27,250 19951 Mariner Avenue Los Angeles - South Bay 6/15/2021 89,272 1 27,400 East 12th Street Los Angeles - Central 6/17/2021 257,976 4 93,600 29120 Commerce Center Drive Los Angeles - San Fernando Valley 6/22/2021 135,258 1 27,052 20304 Alameda Street Los Angeles - South Bay 6/24/2021 77,758 2 13,500 4181 Ruffin Road San Diego - Central 7/8/2021 150,144 1 35,750 12017 Greenstone Avenue (3) Los Angeles - Mid-Counties 7/16/2021 — 1 13,500 Property Submarket Date of Acquisition Rentable Square Feet Number of Buildings Contractual Purchase Price (1) (in thousands) 1901 Via Burton (2) Orange County - North 7/26/2021 — 1 24,211 1555 Cucamonga Avenue San Bernardino - Inland Empire West 8/4/2021 107,023 2 21,000 1800 Lomita Boulevard (3) Los Angeles - South Bay 8/6/2021 — — 70,000 8210-8240 Haskell Avenue Los Angeles - San Fernando Valley 8/17/2021 53,248 3 12,425 3100 Lomita Boulevard Los Angeles - South Bay 8/20/2021 575,976 5 202,469 (5) 2401-2421 Glassell Street Orange County - North 8/25/2021 191,127 4 70,025 2390-2444 American Way (2) Orange County - North 8/26/2021 — — 16,700 500 Dupont Avenue San Bernardino - Inland Empire West 8/26/2021 276,000 1 58,500 1801 St. Andrew Place Orange County - Airport 9/10/2021 370,374 1 105,300 5772 Jurupa Street San Bernardino - Inland Empire West 9/17/2021 360,000 1 54,000 2500 Victoria Street (3) Los Angeles - South Bay 9/30/2021 — — 232,067 (6) 1010 Belmont Street San Bernardino - Inland Empire West 10/1/2021 61,824 1 14,500 21515 Western Avenue (2)(7) Los Angeles - South Bay 10/12/2021 56,199 1 18,950 12027 Greenstone Avenue (3) Los Angeles - Mid-Counties 10/28/2021 7,780 1 8,125 6027 Eastern Avenue (2) Los Angeles - Central 11/16/2021 82,922 1 23,250 340-344 Bonnie Circle San Bernadino - Inland Empire West 11/16/2021 98,000 1 27,000 14100 Vine Place Los Angeles - Mid Counties 11/18/2021 119,145 1 48,501 2280 Ward Avenue Ventura - Ventura 11/30/2021 242,101 1 46,411 20481 Crescent Bay Drive Orange County - South 11/30/2021 88,355 1 19,500 334 El Encanto Road Los Angeles - San Gabriel Valley 12/02/2021 64,368 1 10,675 17031-17037 Green Drive Los Angeles - San Gabriel Valley 12/10/2021 51,000 1 13,770 13512 Marlay Avenue San Bernadino - Inland Empire West 12/16/2021 199,363 1 51,000 14940 Proctor Road Los Angeles - San Gabriel Valley 12/17/2021 111,927 1 28,596 2800 Casitas Avenue Los Angeles - San Fernando Valley 12/22/2021 117,000 1 43,000 4240 190th Street Los Angeles - South Bay 12/23/2021 307,487 1 75,300 2391-2393 Bateman Avenue Los Angeles - San Gabriel Valley 12/28/2021 65,605 1 23,077 1168 Sherborn Street San Bernardino - Inland Empire West 12/29/2021 79,515 1 23,445 3071 Coronado Street (2) Orange County - North 12/30/2021 109,908 1 28,000 8911 Aviation Blvd Los Angeles - South Bay 12/30/2021 100,000 1 32,000 1020 Bixby Drive Los Angeles - San Gabriel Valley 12/31/2021 56,915 1 16,350 Total 2021 Property Acquisitions 5,650,673 80 $ 1,887,797 (1) Represents the gross contractual purchase price before prorations, closing costs and other acquisition related costs. Each acquisition was funded with available cash on hand unless otherwise noted. (2) Represents acquisition of a current or near-term redevelopment site. (3) Represents acquisition of an industrial outdoor storage site. (4) The acquisition of 7817 Woodley Avenue was funded through a combination of cash on hand and the assumption of $3.2 million of debt. This property is the remaining asset in the Van Nuys Airport Industrial Center Portfolio that we acquired in December 2020. (5) In connection with the acquisition of 3100 Lomita Boulevard, we prepaid an existing loan on the property and incurred a $20.4 million prepayment fee at closing. The acquisition price in the table above reflects this prepayment fee in addition to the $182.0 million contractual purchase price. (6) In connection with the acquisition of 2500 Victoria Street, we entered into a long-term sale lease-back agreement with the seller/tenant. At the end of the lease, the tenant will be required to restore the site by removing all above and below ground improvements to prepare the property for subsequent development by us. The acquisition price in the table above reflects the $217.1 million contractual purchase price plus additional consideration of $15.0 million,which is payable to the tenant at the end of the lease, subject to the tenant completing its restoration obligations under the lease. The $15.0 million has been recorded in security deposits in the consolidated balance sheets. (7) The acquisition of 21515 Western Avenue was funded through a combination of cash on hand and the assumption of $13.2 million of debt. The following table summarizes the wholly-owned industrial properties we acquired during the year ended December 31, 2020: Property Submarket Date of Acquisition Rentable Square Feet Number of Buildings Contractual Purchase Price (1) (in thousands) 701-751 Kingshill Place (2) Los Angeles - South Bay 3/5/2020 169,069 6 $ 33,251 2601-2641 Manhattan Beach Boulevard (2) Los Angeles - South Bay 3/5/2020 126,726 6 39,481 2410-2420 Santa Fe Avenue (2) Los Angeles - South Bay 3/5/2020 112,000 1 35,737 11600 Los Nietos Road (2) Los Angeles - Mid-Counties 3/5/2020 103,982 1 16,626 5160 Richton Street (2) San Bernardino - Inland Empire West 3/5/2020 94,976 1 15,653 2205 126th Street (2) Los Angeles - South Bay 3/5/2020 63,532 1 17,712 11832-11954 La Cienega Boulevard (2) Los Angeles - South Bay 3/5/2020 63,462 4 19,664 7612-7642 Woodwind Drive (2) Orange County - West 3/5/2020 62,377 3 13,780 960-970 Knox Street (2) Los Angeles - South Bay 3/5/2020 39,400 1 9,939 25781 Atlantic Ocean Drive (2) Orange County - South 3/5/2020 27,960 1 5,516 Brady Way (3) Orange County - West 4/1/2020 — — 874 720-750 Vernon Avenue Los Angeles - San Gabriel Valley 4/3/2020 71,692 3 15,515 6687 Flotilla Street Los Angeles - Central 5/5/2020 120,000 1 21,000 1055 Sandhill Avenue Los Angeles - South Bay 5/28/2020 — — 14,453 22895 Eastpark Drive (2) Orange County - North 6/19/2020 34,950 1 6,844 8745-8775 Production Avenue San Diego - Central 6/19/2020 46,820 2 7,850 15580 Slover Avenue San Bernardino - Inland Empire West 6/26/2020 60,127 1 9,958 15650-15700 Avalon Boulevard Los Angeles - South Bay 7/1/2020 166,088 2 28,079 11308-11350 Penrose Street Los Angeles - San Fernando Valley 7/1/2020 151,604 2 25,427 11076-11078 Fleetwood Street Los Angeles - San Fernando Valley 7/1/2020 26,040 1 4,711 11529-11547 Tuxford Street Los Angeles - San Fernando Valley 7/1/2020 29,730 1 5,005 12133 Greenstone Avenue Los Angeles - Mid-Counties 7/17/2020 12,586 1 5,483 12772-12746 San Fernando Road Los Angeles - San Fernando Valley 10/14/2020 140,837 2 22,050 15601 Avalon Boulevard Los Angeles - South Bay 10/26/2020 63,690 2 15,500 Gateway Pointe Industrial Park (4) Los Angeles - Mid-Counties 11/17/2020 989,195 4 296,590 13943-13955 Balboa Boulevard (5) Los Angeles - San Fernando Valley 11/17/2020 200,632 1 45,340 Van Nuys Airport Industrial Center Los Angeles - San Fernando Valley 12/3/2020 426,466 18 154,637 4039 State Street San Bernardino - Inland Empire West 12/4/2020 139,000 1 29,665 10156 Live Oak Avenue San Bernardino - Inland Empire West 12/4/2020 236,912 1 46,814 10694 Tamarind Avenue San Bernardino - Inland Empire West 12/4/2020 99,999 1 22,390 2520 Baseline Road San Bernardino - Inland Empire West 12/4/2020 156,586 1 30,531 12211 Greenstone Avenue Los Angeles - Mid-Counties 12/9/2020 — — 16,800 1921, 2011, 2055, 2099, 2040 East 27th Street Los Angeles - Central 12/15/2020 300,389 4 63,403 2750 & 2800 Alameda Street Los Angeles - Central 12/15/2020 164,026 2 30,369 29010 Avenue Paine (6) Los Angeles - San Fernando Valley 12/31/2020 100,157 1 16,037 29010 Commerce Center Drive (6) Los Angeles - San Fernando Valley 12/31/2020 117,151 1 24,480 13369 Valley Boulevard (6) San Bernardino - Inland Empire West 12/31/2020 105,041 1 20,660 6635 Caballero Boulevard (6) Los Angeles - Mid-Counties 12/31/2020 92,395 1 22,802 1235 South Lewis Street Orange County - North 12/31/2020 62,607 1 16,800 Total 2020 Property Acquisitions 4,978,204 82 $ 1,227,426 (1) Represents the gross contractual purchase price before prorations, closing costs and other acquisition related costs. Each acquisition was funded with available cash on hand unless otherwise noted. (2) On March 5, 2020, we acquired ten properties, and on June 19, 2020, we acquired one additional property, from a group of sellers that were not affiliated with the Company (the “Properties”) for an aggregate purchase price of $214.2 million, exclusive of closing costs, including assumed debt of approximately $47.5 million. In consideration for the Properties we (i) paid $60.4 million in cash, including a $10.0 million deposit paid in 2019, (ii) issued 1,406,170 common units of limited partnership interests in the Operating Partnership and (iii) issued 906,374 4.00% cumulative redeemable convertible preferred units of partnership interest in the Operating Partnership. See “Note 5 – Notes Payable” and “Note 12 – Noncontrolling Interests” for further details regarding the assumption of debt and issuance of common and preferred units, respectively. (3) Brady Way is a one-acre parcel of land adjacent to our property located at 12821 Knott Street. (4) This acquisition was partially funded through a 1031 Exchange using $42.4 million of net cash proceeds from the sale of our properties located at (i) 3927 Oceanic Drive, (ii) 121 West 33rd Street and (iii) 2700-2722 South Fairview Street. (5) On November 17, 2020, we acquired the property located at 13943-13955 Balboa Boulevard for a purchase price of $45.3 million, exclusive of closing costs. The acquisition was funded through a combination of cash on hand, the assumption of approximately $15.7 million of debt and the issuance of 592,186 common units of limited partnership interests in the Operating Partnership (6) On December 31, 2020, we acquired four properties for an aggregate purchase price of $84.0 million, exclusive of closing costs. The acquisition was funded through the issuance of 1,800,000 common units of limited partnership interests in the Operating Partnership.
Acquisition of Other Interests	The following table summarizes the fair value of amounts allocated to each major class of asset and liability for the acquisitions noted in the table above, as of the date of each acquisition (in thousands): 2021 2020 Assets: Land $ 1,514,933 $ 729,649 Buildings and improvements 359,970 475,853 Tenant improvements 37,173 4,787 Acquired lease intangible assets (1) 71,919 43,378 Other acquired assets (2) 519 3,390 Total assets acquired $ 1,984,514 $ 1,257,057 Liabilities: Acquired lease intangible liabilities (3) $ 76,992 $ 19,705 Notes payable (4) 16,512 65,264 Deferred rent liability (5) 1,554 — Other assumed liabilities (2) 26,975 6,062 Total liabilities assumed $ 122,033 $ 91,031 Net assets acquired $ 1,862,481 $ 1,166,026 (1) For the 2021 acquisitions, acquired lease intangible assets are comprised of $67.8 million of in-place lease intangibles with a weighted average amortization period of 7.2 years and $4.1 million of above-market lease intangibles with a weighted average amortization period of 9.0 years. For the 2020 acquisitions, acquired lease intangible assets are comprised of $40.5 million of in-place lease intangibles with a weighted average amortization period of 4.7 years and $2.9 million of above-market lease intangibles with a weighted average amortization period of 7.4 years. (2) Includes other working capital assets acquired and liabilities assumed at the time of acquisition. Other acquired assets for 2020 also includes personal property that we acquired as part of the acquisition of 1055 Sandhill Avenue during 2020 that was subsequently sold. (3) Represents below-market lease intangibles with a weighted average amortization period of 7.5 years and 5.6 years, for the 2021 and 2020 acquisitions, respectively. (4) In connection with the acquisition of properties, during the years ended December 31, 2021 and 2020, we assumed two and 11 mortgage loans from the sellers, respectively. See “Note 5 – Notes Payable” for details. (5) In connection with the acquisition of 3071 Coronado Street, we entered into a short-term sale lease-back agreement with the seller/tenant with below-market lease payments. As a result, at the acquisition date we have recorded a deferred rent liability of $1.6 million which will be amortized into rental income over the term of the lease.
Summary of the Properties Sold	The following table summarizes information related to the properties that we sold during the years ended December 31, 2021, 2020, and 2019 (dollars in thousands). Property Submarket Date of Disposition Rentable Square Feet Contractual Sales Price (1) (in thousands) Gain Recorded 2021 Dispositions: 14723-14825.25 Oxnard Street Los Angeles - San Fernando Valley 2/12/2021 77,790 $ 19,250 $ 9,906 6760 Central Avenue, Unit B San Bernardino - Inland Empire East 3/15/2021 9,943 1,530 954 11529-11547 Tuxford Street Los Angeles - San Fernando Valley 5/20/2021 29,730 8,176 2,750 5803 Newton Drive San Diego - North 9/15/2021 71,602 18,600 13,702 2670-2674 East Walnut Street and 89-91 San Gabriel Boulevard Los Angeles - San Fernando Valley 11/01/2021 31,619 11,700 6,617 Total 220,684 $ 59,256 $ 33,929 2020 Dispositions: 3927 Oceanic Drive San Diego - North County 8/13/2020 54,740 $ 10,300 $ 2,926 121 West 33rd Street San Diego - South County 9/18/2020 76,745 13,500 7,575 2700-2722 South Fairview Street (2) Orange County - Airport 9/30/2020 116,575 20,400 3,268 6750 Central Avenue San Bernardino - Inland Empire East 12/31/2020 8,666 1,300 758 Subtotal 256,726 45,500 14,527 1055 Sandhill Avenue Personal Property — 1,854 (910) (3) Total 256,726 $ 47,354 $ 13,617 2019 Dispositions: 2350-2384 Orangethorpe Avenue and 1631 Placentia Avenue Orange County - North 6/27/2019 62,395 $ 11,575 $ 4,810 939 Poinsettia Avenue - Unit 301 San Diego - North County 7/31/2019 6,562 1,263 895 13914-13932 East Valley Boulevard Los Angeles - San Gabriel Valley 10/11/2019 58,084 11,180 6,233 2350-2380 Eastman Avenue Ventura 12/20/2019 55,321 9,581 4,359 Total 182,362 $ 33,599 $ 16,297 (1) Represents the gross contractual sales price before commissions, prorations, credits and other closing costs. (2) Gain recorded reflects (i) a $3.8 million gain on sale recognized due to lease reclassification from operating lease to sales-type lease, less (ii) approximately $0.6 million of selling costs/other write-offs related to the disposition. See “Note 6 – Leases” for additional information. (3) Represents a $0.9 million loss on disposition of personal property that was originally acquired as part of the acquisition of 1055 Sandhill Avenue and valued at $2.8 million. The loss is included in the line item “Gain on sale of real estate” in our consolidated statements of operations for the year ended December 31, 2020.
Disclosure of Long Lived Assets Held-for-sale	The following table summarizes the major classes of assets and liabilities associated with real estate property classified as held for sale as of December 31, 2021 and 2020 (dollars in thousands). December 31, 2021 December 31, 2020 Land $ 1,849 $ 4,458 Building and improvements 10,753 5,452 Tenant improvements 1,059 443 Real estate held for sale 13,661 10,353 Accumulated depreciation (6,657) (1,548) Real estate held for sale, net 7,004 8,805 Other assets associated with real estate held for sale 209 40 Total assets associated with real estate held for sale, net $ 7,213 $ 8,845 Tenant security deposits $ 177 $ 137 Other liabilities associated with real estate held for sale 54 56 Total liabilities associated with real estate held for sale $ 231 $ 193 Subsequent to December 31, 2021, we completed the sale of 28159 Avenue Stanford. See “Note 15 – Subsequent Events” for details.

Acquired Lease Intangibles (Tab

Acquired Lease Intangibles (Tables)	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Acquired Lease Intangible Assets and Liabilities	The following table summarizes our acquisition-related intangible assets, including the value of in-place tenant leases and above-market tenant leases, and our acquisition-related intangible liabilities, including below-market tenant leases (in thousands): December 31, 2021 2020 Acquired Lease Intangible Assets: In-place lease intangibles $ 256,902 $ 193,653 Accumulated amortization (135,415) (109,789) In-place lease intangibles, net $ 121,487 $ 83,864 Above-market tenant leases $ 21,065 $ 17,079 Accumulated amortization (10,394) (8,771) Above-market tenant leases, net $ 10,671 $ 8,308 Acquired lease intangible assets, net $ 132,158 $ 92,172 Acquired Lease Intangible Liabilities: Below-market tenant leases $ (174,686) $ (101,297) Accumulated accretion 47,669 34,041 Below-market tenant leases, net $ (127,017) $ (67,256) Acquired lease intangible liabilities, net $ (127,017) $ (67,256)
Summary of Amortization or Accretion Recorded During the Period Related to Acquired Lease Intangibles	The following table summarizes the amortization related to our acquired lease intangible assets and liabilities for the reported periods noted below (in thousands): Year Ended December 31, 2021 2020 2019 In-place lease intangibles (1) $ 30,136 $ 22,903 $ 20,936 Net below market tenant leases (2) $ (15,443) $ (10,533) $ (7,907) (1) The amortization of in-place lease intangibles is recorded to depreciation and amortization expense in the consolidated statements of operations for the periods presented. (2) The amortization of net below market tenant leases is recorded as an increase to rental income in the consolidated statements of operations for the periods presented.
Summary of Estimated Net Amortization Expense of Above Market Leases and In-place Lease Intangibles	The following table summarizes the estimated amortization/(accretion) of our acquisition-related intangibles as of December 31, 2021, for the next five years and thereafter (in thousands): Year Ending In-place Leases (1) Net Above/(Below) (2) 2022 $ 28,080 $ (19,079) 2023 20,793 (16,667) 2024 15,974 (13,845) 2025 13,037 (11,301) 2026 10,335 (9,721) Thereafter 33,268 (45,733) Total $ 121,487 $ (116,346) (1) Estimated amounts of amortization will be recorded to depreciation and amortization expense in the consolidated statements of operations. (2) Estimated amounts of amortization will be recorded as a net increase to rental income in the consolidated statements of operations.

Notes Payable (Tables)

Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Summary of Notes Payable	The following table summarizes the components and significant terms of our indebtedness as of December 31, 2021 and 2020 (dollars in thousands): December 31, 2021 December 31, 2020 Margin Above LIBOR Interest Rate (1) Contractual Unsecured and Secured Debt: Unsecured Debt: Revolving Credit Facility $ — $ — 0.850 % (2) 0.951 % (3) 2/13/2024 (4) $225M Term Loan Facility — 225,000 n/a (2) n/a 1/14/2023 $150M Term Loan Facility 150,000 150,000 0.950 % (2) 3.713 % (5) 5/22/2025 $100M Notes 100,000 100,000 n/a 4.290 % 8/6/2025 $125M Notes 125,000 125,000 n/a 3.930 % 7/13/2027 $25M Series 2019A Notes 25,000 25,000 n/a 3.880 % 7/16/2029 $400M Senior Notes due 2030 400,000 400,000 n/a 2.125 % 12/1/2030 $400M Senior Notes due 2031 400,000 — n/a 2.150 % 9/1/2031 $75M Series 2019B Notes 75,000 75,000 n/a 4.030 % 7/16/2034 Total Unsecured Debt $ 1,275,000 $ 1,100,000 Secured Debt: 2601-2641 Manhattan Beach Boulevard (6) $ 3,951 $ 4,065 n/a 4.080 % 4/5/2023 $60M Term Loan (7) 58,108 58,499 1.700 % 1.801 % 8/1/2023 (7) 960-970 Knox Street (6)(8) 2,399 2,488 n/a 5.000 % 11/1/2023 7612-7642 Woodwind Drive (6) 3,806 3,895 n/a 5.240 % 1/5/2024 11600 Los Nietos Road (6) 2,626 2,785 n/a 4.190 % 5/1/2024 5160 Richton Street (6) 4,272 4,387 n/a 3.790 % 11/15/2024 22895 Eastpark Drive (6) 2,682 2,749 n/a 4.330 % 11/15/2024 701-751 Kingshill Place (9) 7,100 7,100 n/a 3.900 % 1/5/2026 13943-13955 Balboa Boulevard (6) 15,320 15,661 n/a 3.930 % 7/1/2027 2205 126th Street (10) 5,200 5,200 n/a 3.910 % 12/1/2027 2410-2420 Santa Fe Avenue (10) 10,300 10,300 n/a 3.700 % 1/1/2028 11832-11954 La Cienega Boulevard (6) 4,002 4,072 n/a 4.260 % 7/1/2028 Gilbert/La Palma (6) 2,119 2,293 n/a 5.125 % 3/1/2031 7817 Woodley Avenue (6) 3,132 — n/a 4.140 % 8/1/2039 2515 Western Avenue (6) 13,104 — n/a 4.500 % 9/1/2042 Total Secured Debt $ 138,121 $ 123,494 Total Unsecured and Secured Debt $ 1,413,121 $ 1,223,494 Less: Unamortized premium/discount and debt issuance costs (11) (13,556) (7,334) Total $ 1,399,565 $ 1,216,160 (1) Reflects the contractual interest rate under the terms of each loan as of December 31, 2021 and includes the effect of interest rate swaps that were effective as of December 31, 2021. See footnote (5) below. Excludes the effect of unamortized debt issuance costs and unamortized fair market value premiums and discounts. (2) The interest rates on these loans are comprised of LIBOR plus a LIBOR margin. The LIBOR margins will range from 0.725% to 1.400% per annum for the unsecured revolving credit facility and 0.80% to 1.60% per annum for the $150.0 million term loan facility, depending on our investment grade rating, which may change from time to time. (3) The unsecured revolving credit facility is subject to an applicable facility fee which is calculated as a percentage of the total lenders’ commitment amount, regardless of usage. The applicable facility fee ranges from 0.125% to 0.30% per annum depending upon our investment grade rating. (4) Two additional six-month extensions are available at the borrower’s option, subject to certain terms and conditions. (5) As of December 31, 2021, interest on the $150 million term loan facility has been effectively fixed through the use of interest rate swaps. See Note 7 – “Interest Rate Derivatives” for details related to our interest rate swaps. (6) Fixed monthly payments of interest and principal until maturity as follows: 2601-2641 Manhattan Beach Boulevard ($23,138), 960-970 Knox Street ($17,538), 7612-7642 Woodwind Drive ($24,270), 11600 Los Nietos ($22,637), 5160 Richton Street ($23,270), 22895 Eastpark Drive ($15,396), 13943-13955 Balboa Boulevard ($79,198), 11832-11954 La Cienega Boulevard ($20,194) and Gilbert/La Palma ($24,008), 7817 Woodley Avenue ($20,855) and 2515 Western Avenue ($81,250). (7) Loan is secured by six properties. One 24-month extension is available at the borrower’s option, subject to certain terms and conditions. Monthly payments of interest only through June 2021, followed by equal monthly payments of principal ($65,250), plus accrued interest until maturity. (8) Loan requires monthly escrow reserve payments for real estate taxes related to the property located at 960-970 Knox Street. (9) For 701-751 Kingshill Place, fixed monthly payments of interest only through January 2023, followed by fixed monthly payments of interest and principal ($33,488) until maturity. (10) Fixed monthly payments of interest only. (11) Excludes unamortized debt issuance costs related to our unsecured revolving credit facility, which are presented in the line item “Deferred loan costs, net” in the consolidated balance sheets.
Summary of Aggregate Future Minimum Payments of Debt	Contractual Debt Maturities The following table summarizes the contractual debt maturities and scheduled amortization payments, excluding debt premiums/discounts and debt issuance costs, as of December 31, 2021, and does not consider extension options available to us as noted in the table above (in thousands): 2022 $ 2,570 2023 65,227 2024 13,833 2025 251,423 2026 8,058 Thereafter 1,072,010 Total $ 1,413,121

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Future Minimum Base Rent Under Non-cancelable Operating Leases	The following table sets forth the undiscounted cash flows for future minimum base rents to be received under operating leases as of December 31, 2021 (in thousands): For the year ending December 31, 2022 $ 398,894 2023 355,648 2024 298,710 2025 245,811 2026 189,553 Thereafter 688,486 Total $ 2,177,102
Lease Cost	The tables below present financial information associated with our leases as of, and for the years ended December 31, 2021 and 2020. Year Ended December 31, Lease Cost (in thousands) 2021 2020 Operating lease cost (1) $ 1,598 $ 1,354 Variable lease cost (1) 63 39 Total lease cost $ 1,661 $ 1,393 (1) Amounts are included in “General and administrative” and “Property expenses” in the accompanying consolidated statement of operations. Year Ended December 31, Other Information (in thousands) 2021 2020 Cash paid for amounts included in the measurement of operating lease liabilities $ 1,471 $ 1,127 Right-of-use assets obtained in exchange for new operating lease liabilities $ — $ 3,204 Lease Term and Discount Rate December 31, 2021 December 31, 2020 Weighted-average remaining lease term 3.3 years 4.2 years Weighted-average discount rate (1) 2.95 % 2.99 % (1) Because the rate implicit in each of our leases was not readily determinable, we used our incremental borrowing rate. In determining our incremental borrowing rate for each lease, we considered recent rates on secured borrowings, observable risk-free interest rates and credit spreads correlating to our creditworthiness, the impact of collateralization and the term of each of our lease agreements.
Maturities of Lease Liabilities	Maturities of lease liabilities as of December 31, 2021 were as follows (in thousands): 2022 $ 1,615 2023 1,624 2024 1,600 2025 472 2026 — Thereafter — Total undiscounted lease payments $ 5,311 Less imputed interest (262) Total lease liabilities $ 5,049

Interest Rate Derivatives (Tabl

Interest Rate Derivatives (Tables)	12 Months Ended
	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Interest Rate Swap Agreement	The following table sets forth a summary of our interest rate swaps as of December 31, 2021 and 2020 (dollars in thousands). We record all derivative instruments on a gross basis in the consolidated balance sheets, and accordingly, there are no offsetting amounts that net assets against liabilities. Current Notional Amount (1) Fair Value of Interest Rate Derivative Liabilities (2) Derivative Instrument Effective Date Maturity Date LIBOR Interest Strike Rate December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Interest Rate Swap 2/14/2018 1/14/2022 1.3490 % $ — $ 125,000 $ — $ (1,591) Interest Rate Swap 8/14/2018 1/14/2022 1.4060 % $ — $ 100,000 $ — $ (1,333) Interest Rate Swap 7/22/2019 11/22/2024 2.7625 % $ 150,000 $ 150,000 $ (7,482) $ (14,656) (1) Represents the notional value of swaps that are effective as of the balance sheet date presented.
Summary of Impact of Derivative Instruments on Consolidated and Combined Financial Statements	The following table sets forth the impact of our interest rate swaps on our financial statements for the periods presented (in thousands): Year Ended December 31, 2021 2020 2019 Interest Rate Swaps in Cash Flow Hedging Relationships: Amount of (loss) gain recognized in AOCI on derivatives $ 263 $ (17,212) $ (12,103) Amount of (loss) gain reclassified from AOCI into earnings as “Interest expense” (1) $ (8,070) $ (6,332) $ 2,038 Total interest expense presented in the Consolidated Statement of Operations in which the effects of cash flow hedges are recorded (line item “Interest expense”) $ 40,139 $ 30,849 $ 26,875 (1) Includes amounts that are being amortized from AOCI into interest expense on a straight-line basis related to the T-Locks, $100M Swap and $225M Swaps which are discussed below.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Assets Measures at Fair Vale on a Recurring Basis by Level within Fair Value Hierarchy	The table below sets forth the estimated fair value of our interest rate swaps as of December 31, 2021 and 2020, which we measure on a recurring basis by level within the fair value hierarchy (in thousands). Fair Value Measurement Using Total Fair Value Quoted Price in Active Significant Other Significant December 31, 2021 Interest Rate Swap Asset $ — $ — $ — $ — Interest Rate Swap Liability $ (7,482) $ — $ (7,482) $ — December 31, 2020 Interest Rate Swap Asset $ — $ — $ — $ — Interest Rate Swap Liability $ (17,580) $ — $ (17,580) $ —
Carrying Value and Estimated Fair Value of Notes Payable	The table below sets forth the carrying value and the estimated fair value of our notes payable as of December 31, 2021 and 2020 (in thousands). Fair Value Measurement Using Liabilities Total Fair Value Quoted Price in Active Significant Other Significant Carrying Value Notes Payable at: December 31, 2021 $ 1,404,680 $ — $ — $ 1,404,680 $ 1,399,565 December 31, 2020 $ 1,276,217 $ — $ — $ 1,276,217 $ 1,216,160

Stockholder's Equity (Tables)

Stockholder's Equity (Tables)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Schedule of Cumulative Preferred Shares	As of December 31, 2021 and 2020, we had the following series of Cumulative Preferred Shares (“Preferred Stock”) outstanding (dollars in thousands): December 31, 2021 December 31, 2020 Series Earliest Redemption Date Dividend Rate Shares Outstanding Liquidation Preference Shares Outstanding Liquidation Preference Series A August 16, 2021 5.875 % — $ — 3,600,000 $ 90,000 Series B November 13, 2022 5.875 % 3,000,000 75,000 3,000,000 75,000 Series C September 20, 2024 5.625 % 3,450,000 86,250 3,450,000 86,250 Total Preferred Shares 6,450,000 $ 161,250 10,050,000 $ 251,250
Summary of the Components of Changes in Accumulated Other Comprehensive Loss	The following table summarizes the changes in our AOCI balance for the years ended December 31, 2021 and 2020, which consists solely of adjustments related to our cash flow hedges: Year Ended December 31, 2021 2020 Accumulated other comprehensive loss - beginning balance $ (17,709) $ (7,542) Other comprehensive income (loss) before reclassifications 263 (17,212) Amounts reclassified from accumulated other comprehensive loss to interest expense (1) 8,070 6,332 Net current period other comprehensive income (loss) 8,333 (10,880) Less: other comprehensive (income) loss attributable to noncontrolling interests (498) 713 Other comprehensive income (loss) attributable to common stockholders 7,835 (10,167) Accumulated other comprehensive loss - ending balance $ (9,874) $ (17,709) (1) Amounts include $2.2 million and $0.2 million reclassifications from AOCI into interest expense for the years ended December 31, 2021 and 2020, respectively, related to the swaps that were terminated in August 2021 and November 2020. See “Note 7 – Interest Rate Derivatives” for additional information.
Schedule Of Federal Income Tax Treatment For Distributions	The following tables summarize the tax treatment of common stock dividends and preferred stock dividends per share for federal income tax purposes for the years ended December 31, 2021, 2020 and 2019: Common Stock Year Ended December 31, 2021 2020 2019 Ordinary Income $ 1.049243 100.00 % $ 0.834238 100.00 % $ 0.783269 100.00 % Return of Capital — — % — — % — — % Capital Gain — — % — — % — — % Total $ 1.049243 100.00 % $ 0.834238 100.00 % $ 0.783269 100.00 % Series A Preferred Stock Year Ended December 31, 2021 2020 2019 Ordinary Income $ 0.917970 100.00 % $ 1.468752 100.00 % $ 1.468752 100.00 % Return of Capital — — % — — % — — % Capital Gain — — % — — % — — % Total $ 0.917970 100.00 % $ 1.468752 100.00 % $ 1.468752 100.00 % Series B Preferred Stock Year Ended December 31, 2021 2020 2019 Ordinary Income $ 1.468752 100.00 % $ 1.468752 100.00 % $ 1.468752 100.00 % Return of Capital — — % — — % — — % Capital Gain — — % — — % — — % Total $ 1.468752 100.00 % $ 1.468752 100.00 % $ 1.468752 100.00 % Series C Preferred Stock Year Ended December 31, 2021 2020 2019 Ordinary Income $ 1.406252 100.00 % $ 1.406252 100.00 % $ 0.394531 100.00 % Return of Capital — — % — — % — — % Capital Gain — — % — — % — — % Total $ 1.406252 100.00 % $ 1.406252 100.00 % $ 0.394531 100.00 %

Incentive Award Plan (Tables)

Incentive Award Plan (Tables)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Schedule Of Share Based Payment Award, Equity Instruments Other Than Options, Fair Value Assumptions And Grant Date Fair Value	The following table summarizes these fair valuation assumptions and the grant date fair value of each annual LTIP award: 2021 LTIP Award 2020 LTIP Award 2019 LTIP Award Valuation date December 23, 2021 December 22, 2020 December 16, 2019 Closing share price of common stock $ 77.50 $ 48.58 $ 45.74 Discount for post-vesting restrictions and book-up events 7.8 % 7.6 % 6.4 % Grant date fair value (in thousands) $ 6,648 $ 5,437 $ 5,148
Schedule of LTIP Unit Activity	The following table sets forth our unvested LTIP Unit activity for the years ended December 31, 2021, 2020 and 2019: Number of Unvested LTIP Units Weighted-Average Grant Date Fair Value per Unit Balance at December 31, 2018 327,048 $ 26.12 Granted 179,758 $ 39.67 Vested (208,394) $ 26.14 Balance at December 31, 2019 298,412 $ 34.26 Granted 157,404 $ 45.86 Forfeited (22,795) $ 38.89 Vested (196,375) $ 34.31 Balance at December 31, 2020 236,646 $ 41.49 Granted 148,533 $ 62.45 Vested (145,470) $ 40.65 Balance at December 31, 2021 239,709 $ 54.99
Summary of Units Awarded	The following table summarizes the total number of base units and distribution equivalent units awarded to the executives for each of the Performance Awards: Absolute TSR Base Units (1) Relative TSR Base Units (1) FFO Per-Share Base Units (1) Distribution Equivalent Units Total Performance Units 2021 Performance Award 113,871 113,871 113,871 24,391 366,004 2020 Performance Award 148,030 148,030 148,027 32,828 476,915 2019 Performance Award (2) 118,339 74,033 85,898 16,724 294,994 (1) For each Performance Award, a number of the base units are designated as Absolute TSR Base Units and Relative TSR Base Units (combined, a “Market Performance Award”) and a number of units are designated as FFO Per-Share Base Units (each an “FFO Per-Share Award”). (2) On December 31, 2020, 41,094 Performance Units initially granted in December 2019 were canceled due to the termination of employment of our former Chief Financial Officer.
Total Shareholder Return Levels And Vesting Percentages	The following table summarizes the performance levels and vesting percentages for the Absolute TSR Base Units, Relative TSR Base Units and FFO Per-Share Base Units, and the three-year performance period for each of the Performance Unit awards: Absolute TSR Base Units Relative TSR Base Units FFO Per-Share Base Units Performance Level Company TSR Percentage Absolute TSR Vesting Percentage Peer Group Relative Performance Relative TSR Vesting Percentage FFO per Share Growth FFO Vesting Percentage Three-Year Performance Period 2021 Award < 18% — % < 35th Percentile — % < 12% — % “Threshold Level” 18 % 16.7 % 35th Percentile 16.7 % 12 % 16.7 % “Target Level” 24 % 33.4 % 55th Percentile 33.4 % 16.5 % 33.4 % See Note (1) “ High Level” 30 % 66.7 % 75th Percentile 66.7 % 21 % 66.7 % “Maximum Level” ≥ 40% 100 % ≥ 90th Percentile 100 % ≥26% 100 % 2020 Award < 18% — % < 35th Percentile — % < 12% — % “Threshold Level” 18 % 16.7 % 35th Percentile 16.7 % 12 % 16.7 % “Target Level” 24 % 33.4 % 55th Percentile 33.4 % 16.5 % 33.4 % See Note (2) “ High Level” 30 % 66.7 % 75th Percentile 66.7 % 21 % 66.7 % “Maximum Level” ≥ 40% 100 % ≥ 90th Percentile 100 % ≥ 26% 100 % 2019 Award < 18% — % < 35th Percentile — % < 12% — % “Threshold Level” 18 % 25 % 35th Percentile 25 % 12 % 25 % Jan 1, 2020 “Target Level” 24 % 50 % 55th Percentile 50 % 16.5 % 50 % to “Maximum Level” ≥ 30% 100 % ≥ 75th Percentile 100 % ≥ 21% 100 % Dec 31, 2022 (1) The performance period for the 2021 Market Performance Award is December 23, 2021 through December 22, 2024, and the performance period for the 2021 FFO Per-Share Award is January 1, 2022 through December 31, 2024. (2) The performance period for the 2020 Market Performance Award is December 22, 2020 through December 21, 2023, and the performance period for the 2020 FFO Per-Share Award is January 1, 2021 through December 31, 2023.
Schedule of valuation assumptions	The following table summarizes the assumptions we used in the Monte Carlo simulations and the grant date fair value of the awards with market-based vesting conditions. 2021 Market Performance Award 2020 Market Performance Award 2019 Market Performance Award Valuation date December 23, 2021 December 22, 2020 December 16, 2019 Expected share price volatility for the Company 31.0 % 31.0 % 18.0 % Expected share price volatility for peer group companies - low end of range (1) 17.0 % 17.0 % 12.0 % Expected share price volatility for peer group companies - high end of range (1) 100.0 % 100.0 % 100.0 % Expected dividend yield 1.70 % 1.90 % 1.90 % Risk-free interest rate 0.98 % 0.19 % 1.74 % Grant date fair value (in thousands) $ 8,962 $ 6,928 $ 3,922
Schedule of Unvested Restricted Stock Activity	The following table sets forth our unvested restricted stock activity for the years ended December 31, 2021, 2020 and 2019: Number of Unvested Shares of Restricted Common Stock Weighted-Average Grant Date Fair Value per Share Balance at December 31, 2018 200,398 $ 20.13 Granted 110,711 $ 34.85 Forfeited (17,287) $ 29.71 Vested (1)(2) (81,277) $ 23.23 Balance at December 31, 2019 212,545 $ 29.64 Granted 126,865 $ 45.94 Forfeited (16,128) $ 37.25 Vested (1)(2) (90,383) $ 28.50 Balance at December 31, 2020 232,899 $ 38.43 Granted 132,537 $ 50.62 Forfeited (23,763) $ 42.69 Vested (1)(2) (92,494) $ 35.45 Balance at December 31, 2021 249,179 $ 45.62 (1) The total fair value of vested shares, which is calculated as the number of shares vested multiplied by the closing share price of the Company’s common stock on the vesting date, was $4.6 million, $4.1 million and $2.9 million for the years ended December 31, 2021, 2020 and 2019, respectively.
Share-based Payment Arrangement, Expensed and Capitalized, Amount	The following table sets forth the amounts expensed and capitalized for all share-based awards for the reported periods presented below (in thousands): Year Ended December 31, 2021 2020 2019 Expensed share-based compensation (1) $ 19,506 $ 12,871 $ 10,756 Capitalized share-based compensation (2) 357 223 174 Total share-based compensation $ 19,863 $ 13,094 $ 10,930 (1) Amounts expensed are included in “General and administrative” and “Property expenses” in the accompanying consolidated statements of operations.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share (in thousands, except share and per share amounts): Year Ended December 31, 2021 2020 2019 Numerator: Net income $ 136,246 $ 80,895 $ 64,001 Less: Preferred stock dividends (12,563) (14,545) (11,055) Less: Original issuance costs of redeemed preferred stock (3,349) — — Less: Net income attributable to noncontrolling interests (8,005) (4,492) (2,022) Less: Net income attributable to participating securities (568) (509) (447) Net income attributable to common stockholders $ 111,761 $ 61,349 $ 50,477 Denominator: Weighted average shares of common stock outstanding - basic 139,294,882 120,873,624 106,407,283 Effect of dilutive securities 780,807 304,686 391,765 Weighted average shares of common stock outstanding - diluted 140,075,689 121,178,310 106,799,048 Earnings per share - Basic Net income attributable to common stockholders $ 0.80 $ 0.51 $ 0.47 Earnings per share - Diluted Net income attributable to common stockholders $ 0.80 $ 0.51 $ 0.47

Subsequent Events (Tables)

Subsequent Events (Tables)	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
Summary of Acquired Wholly Owned Property Acquisitions	The following table summarizes the properties we acquired subsequent to December 31, 2021: Property Submarket Date of Acquisition Rentable Square Feet Number of Buildings Contractual Purchase Price 444 Quay Avenue Los Angeles - South Bay 1/14/2022 29,760 1 $ 10,760 18455 Figueroa Street Los Angeles - South Bay 1/31/2022 146,765 1 64,250 24903 Avenue Kearny Los Angeles - San Fernando Valley 2/1/2022 214,436 1 58,463 19475 Gramercy Place Los Angeles - South Bay 2/2/2022 47,712 1 11,300 14005 Live Oak Avenue Los Angeles - San Gabriel Valley 2/8/2022 56,510 1 25,000 13700 Slover Ave San Bernardino - Inland Empire West 2/10/2022 17,862 1 13,209 Total 513,045 6 $ 182,982
Dividends Declared	On February 7, 2022, our board of directors declared the following quarterly cash dividends/distributions: Security Amount per Share/Unit Record Date Payment Date Common stock $ 0.315 March 31, 2022 April 15, 2022 OP Units $ 0.315 March 31, 2022 April 15, 2022 5.875% Series B Cumulative Redeemable Preferred Stock $ 0.367188 March 15, 2022 March 31, 2022 5.625% Series C Cumulative Redeemable Preferred Stock $ 0.351563 March 15, 2022 March 31, 2022 4.43937% Cumulative Redeemable Convertible Preferred Units $ 0.505085 March 15, 2022 March 31, 2022 4.00% Cumulative Redeemable Convertible Preferred Units $ 0.450000 March 15, 2022 March 31, 2022

Organization - Additional Infor

Organization - Additional Information (Detail) ft² in Millions	Dec. 31, 2021ft²property
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of real estate properties | property	296
Area of real estate property (square feet) | ft²	36.9
Number of real estate properties additionally managed | property	20
Area of real estate property additionally managed | ft²	1

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Summary Of Significant Accounting Policies [Line Items]
Impairment of right-of-use asset	$ 992	$ 0
Construction costs related to cancelled projects	200
Acquisition expenses	100
Cash and cash equivalents	43,987	176,293	$ 78,857
Restricted cash	11	1,230	0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	43,998	177,523	78,857	$ 180,601
Interest costs capitalized	4,500	3,900	3,900
Real estate taxes and insurance costs capitalized	$ 2,200	1,200	1,300
REIT annual taxable income distribution requirement percentage	90.00%
Provision for doubtful accounts	$ 500	5,000	700
Rent Relief Agreement, COVID-19 [Member]
Summary Of Significant Accounting Policies [Line Items]
Deferral of Base Rent		$ 4,600
Deferred Base Rent As A Percentage Of Rental Income		1.40%
Deferral Of Base Rent, Amount Collected	$ 4,300
Deferral Of Base Rent, Amount Collected, Percentage	98.00%
Deferral Of Base Rent, Due	$ 100
Minimum | Building
Summary Of Significant Accounting Policies [Line Items]
Estimated remaining life	10 years
Minimum | Site Improvements
Summary Of Significant Accounting Policies [Line Items]
Estimated remaining life	5 years
Maximum | Building
Summary Of Significant Accounting Policies [Line Items]
Estimated remaining life	30 years
Maximum | Site Improvements
Summary Of Significant Accounting Policies [Line Items]
Estimated remaining life	20 years
Construction Employees
Summary Of Significant Accounting Policies [Line Items]
Compensation costs capitalized	$ 6,100	$ 4,100	$ 2,700
Measurement Input, Discount Rate | Minimum
Summary Of Significant Accounting Policies [Line Items]
Fair value inputs, discount rate	5.00%
Measurement Input, Discount Rate | Maximum
Summary Of Significant Accounting Policies [Line Items]
Fair value inputs, discount rate	7.75%
Measurement Input, Cap Rate | Minimum
Summary Of Significant Accounting Policies [Line Items]
Fair value inputs, discount rate	4.00%
Measurement Input, Cap Rate | Maximum
Summary Of Significant Accounting Policies [Line Items]
Fair value inputs, discount rate	6.50%
Property Average Lease Up Period | Minimum
Summary Of Significant Accounting Policies [Line Items]
Property average lease up period	6 months
Property Average Lease Up Period | Maximum
Summary Of Significant Accounting Policies [Line Items]
Property average lease up period	12 months
Fair Value, Concentration of Risk, Market Risk Management, Gap Analysis | Minimum
Summary Of Significant Accounting Policies [Line Items]
Fair value inputs, discount rate	3.75%
Fair Value, Concentration of Risk, Market Risk Management, Gap Analysis | Maximum
Summary Of Significant Accounting Policies [Line Items]
Fair value inputs, discount rate	4.50%

Investments in Real Estate - Su

Investments in Real Estate - Summary of Acquired Wholly Owned Industrial Properties (Details)	Oct. 12, 2021USD ($)	Sep. 30, 2021USD ($)	Aug. 20, 2021USD ($)	Jan. 27, 2021USD ($)	Nov. 17, 2020USD ($)shares	Apr. 01, 2020ft²	Mar. 05, 2020buildingshares	Jun. 19, 2020USD ($)building	Dec. 31, 2021USD ($)ft²building	Dec. 31, 2020USD ($)ft²building	Dec. 31, 2019USD ($)
Real Estate [Line Items]
Rentable Square Feet | ft²									5,650,673	4,978,204
Number of buildings | building									80	82
Contractual purchase price										$ 1,227,426,000
Assumption of debt in connection with acquisition of real estate including loan premium									$ 16,512,000	65,264,000	$ 0
Long-term Debt, Gross									$ 1,413,121,000	$ 1,223,494,000
15010 Don Julian Road
Real Estate [Line Items]
Date of Acquisition									Jan. 5, 2021
Rentable Square Feet | ft²									92,925
Number of buildings | building									1
Contractual purchase price									$ 22,200,000
5002-5018 Lindsay Court
Real Estate [Line Items]
Date of Acquisition									Jan. 11, 2021
Rentable Square Feet | ft²									64,960
Number of buildings | building									1
Contractual purchase price									$ 12,650,000
514 East C Street
Real Estate [Line Items]
Date of Acquisition									Jan. 14, 2021
Rentable Square Feet | ft²									3,436
Number of buildings | building									1
Contractual purchase price									$ 9,950,000
17907-18001 Figueroa Street
Real Estate [Line Items]
Date of Acquisition									Jan. 26, 2021
Rentable Square Feet | ft²									74,810
Number of buildings | building									6
Contractual purchase price									$ 20,200,000
7817 Woodley Avenue
Real Estate [Line Items]
Date of Acquisition									Jan. 27, 2021
Rentable Square Feet | ft²									36,900
Number of buildings | building									1
Contractual purchase price									$ 9,963,000
8888-8992 Balboa Avenue
Real Estate [Line Items]
Date of Acquisition									Feb. 4, 2021
Rentable Square Feet | ft²									86,637
Number of buildings | building									2
Contractual purchase price									$ 19,800,000
9920-10020 Pioneer Boulevard
Real Estate [Line Items]
Date of Acquisition									Feb. 19, 2021
Rentable Square Feet | ft²									157,669
Number of buildings | building									7
Contractual purchase price									$ 23,500,000
2553 Garfield Avenue
Real Estate [Line Items]
Date of Acquisition									Mar. 19, 2021
Rentable Square Feet | ft²									25,615
Number of buildings | building									1
Contractual purchase price									$ 3,900,000
6655 East 26th Street
Real Estate [Line Items]
Date of Acquisition									Mar. 19, 2021
Rentable Square Feet | ft²									47,500
Number of buildings | building									1
Contractual purchase price									$ 6,500,000
560 Main Street
Real Estate [Line Items]
Date of Acquisition									Mar. 19, 2021
Rentable Square Feet | ft²									17,000
Number of buildings | building									1
Contractual purchase price									$ 2,600,000
4225 Etiwanda Avenue
Real Estate [Line Items]
Date of Acquisition									Mar. 23, 2021
Rentable Square Feet | ft²									134,500
Number of buildings | building									1
Contractual purchase price									$ 32,250,000
12118 Bloomfield Avenue
Real Estate [Line Items]
Date of Acquisition									Apr. 14, 2021
Rentable Square Feet | ft²									63,000
Number of buildings | building									4
Contractual purchase price									$ 16,650,000
256 Alondra Blvd
Real Estate [Line Items]
Date of Acquisition									Apr. 15, 2021
Rentable Square Feet | ft²									2,456
Number of buildings | building									1
Contractual purchase price									$ 11,250,000
19007 Reyes Avenue
Real Estate [Line Items]
Date of Acquisition									Apr. 23, 2021
Rentable Square Feet | ft²									0
Number of buildings | building									0
Contractual purchase price									$ 16,350,000
19431 Santa Fe Avenue
Real Estate [Line Items]
Date of Acquisition									Apr. 30, 2021
Rentable Square Feet | ft²									14,793
Number of buildings | building									3
Contractual purchase price									$ 10,500,000
4621 Guasti Road
Real Estate [Line Items]
Date of Acquisition									May 21, 2021
Rentable Square Feet | ft²									64,512
Number of buildings | building									1
Contractual purchase price									$ 13,335,000
12838 Saticoy Street
Real Estate [Line Items]
Date of Acquisition									Jun. 15, 2021
Rentable Square Feet | ft²									100,390
Number of buildings | building									1
Contractual purchase price									$ 27,250,000
19951 Mariner Avenue
Real Estate [Line Items]
Date of Acquisition									Jun. 15, 2021
Rentable Square Feet | ft²									89,272
Number of buildings | building									1
Contractual purchase price									$ 27,400,000
East 12th Street
Real Estate [Line Items]
Date of Acquisition									Jun. 17, 2021
Rentable Square Feet | ft²									257,976
Number of buildings | building									4
Contractual purchase price									$ 93,600,000
29120 Commerce Center Drive
Real Estate [Line Items]
Date of Acquisition									Jun. 22, 2021
Rentable Square Feet | ft²									135,258
Number of buildings | building									1
Contractual purchase price									$ 27,052,000
20304 Alameda Street
Real Estate [Line Items]
Date of Acquisition									Jun. 24, 2021
Rentable Square Feet | ft²									77,758
Number of buildings | building									2
Contractual purchase price									$ 13,500,000
4181 Ruffin Road
Real Estate [Line Items]
Date of Acquisition									Jul. 8, 2021
Rentable Square Feet | ft²									150,144
Number of buildings | building									1
Contractual purchase price									$ 35,750,000
12017 Greenstone Avenue
Real Estate [Line Items]
Date of Acquisition									Jul. 16, 2021
Number of buildings | building									1
Contractual purchase price									$ 13,500,000
1901 Via Burton
Real Estate [Line Items]
Date of Acquisition									Jul. 26, 2021
Number of buildings | building									1
Contractual purchase price									$ 24,211,000
1555 Cucamonga Avenue
Real Estate [Line Items]
Date of Acquisition									Aug. 4, 2021
Rentable Square Feet | ft²									107,023
Number of buildings | building									2
Contractual purchase price									$ 21,000,000
1800 Lomita Blvd
Real Estate [Line Items]
Date of Acquisition									Aug. 6, 2021
Contractual purchase price									$ 70,000,000
8210-8240 Haskell Avenue
Real Estate [Line Items]
Date of Acquisition									Aug. 17, 2021
Rentable Square Feet | ft²									53,248
Number of buildings | building									3
Contractual purchase price									$ 12,425,000
3100 Lomita Boulevard
Real Estate [Line Items]
Date of Acquisition									Aug. 20, 2021
Rentable Square Feet | ft²									575,976
Number of buildings | building									5
Contractual purchase price			$ 182,000,000						$ 202,469,000
Asset Acquisition, Loan Prepayment Fee			$ 20,400,000
2401-2421 Glassell Street
Real Estate [Line Items]
Date of Acquisition									Aug. 25, 2021
Rentable Square Feet | ft²									191,127
Number of buildings | building									4
Contractual purchase price									$ 70,025,000
2390-2444 American Way
Real Estate [Line Items]
Date of Acquisition									Aug. 26, 2021
Contractual purchase price									$ 16,700,000
500 Dupont Avenue
Real Estate [Line Items]
Date of Acquisition									Aug. 26, 2021
Rentable Square Feet | ft²									276,000
Number of buildings | building									1
Contractual purchase price									$ 58,500,000
1801 St. Andrew Place
Real Estate [Line Items]
Date of Acquisition									Sep. 10, 2021
Rentable Square Feet | ft²									370,374
Number of buildings | building									1
Contractual purchase price									$ 105,300,000
5772 Jurupa Street
Real Estate [Line Items]
Date of Acquisition									Sep. 17, 2021
Rentable Square Feet | ft²									360,000
Number of buildings | building									1
Contractual purchase price									$ 54,000,000
2500 Victoria Street
Real Estate [Line Items]
Date of Acquisition									Sep. 30, 2021
Contractual purchase price		$ 217,100,000							$ 232,067,000
Asset Acquisition, Security Deposit		$ 15,000,000
1010 Belmont Street
Real Estate [Line Items]
Date of Acquisition									Oct. 1, 2021
Rentable Square Feet | ft²									61,824
Number of buildings | building									1
Contractual purchase price									$ 14,500,000
21515 Western Avenue
Real Estate [Line Items]
Date of Acquisition									Oct. 12, 2021
Rentable Square Feet | ft²									56,199
Number of buildings | building									1
Contractual purchase price									$ 18,950,000
12027 Greenstone Avenue
Real Estate [Line Items]
Date of Acquisition									Oct. 28, 2021
Rentable Square Feet | ft²									7,780
Number of buildings | building									1
Contractual purchase price									$ 8,125,000
6027 Eastern Avenue
Real Estate [Line Items]
Date of Acquisition									Nov. 16, 2021
Rentable Square Feet | ft²									82,922
Number of buildings | building									1
Contractual purchase price									$ 23,250,000
340-344 Bonnie Circle
Real Estate [Line Items]
Date of Acquisition									Nov. 16, 2021
Rentable Square Feet | ft²									98,000
Number of buildings | building									1
Contractual purchase price									$ 27,000,000
14100 Vine Place
Real Estate [Line Items]
Date of Acquisition									Nov. 18, 2021
Rentable Square Feet | ft²									119,145
Number of buildings | building									1
Contractual purchase price									$ 48,501,000
2280 Ward Avenue
Real Estate [Line Items]
Date of Acquisition									Nov. 30, 2021
Rentable Square Feet | ft²									242,101
Number of buildings | building									1
Contractual purchase price									$ 46,411,000
20481 Crescent Bay Drive
Real Estate [Line Items]
Date of Acquisition									Nov. 30, 2021
Rentable Square Feet | ft²									88,355
Number of buildings | building									1
Contractual purchase price									$ 19,500,000
334 El Encanto Road
Real Estate [Line Items]
Date of Acquisition									Dec. 2, 2021
Rentable Square Feet | ft²									64,368
Number of buildings | building									1
Contractual purchase price									$ 10,675,000
17031-17037 Green Drive
Real Estate [Line Items]
Date of Acquisition									Dec. 10, 2021
Rentable Square Feet | ft²									51,000
Number of buildings | building									1
Contractual purchase price									$ 13,770,000
13512 Marlay Avenue
Real Estate [Line Items]
Date of Acquisition									Dec. 16, 2021
Rentable Square Feet | ft²									199,363
Number of buildings | building									1
Contractual purchase price									$ 51,000,000
14940 Proctor Road
Real Estate [Line Items]
Date of Acquisition									Dec. 17, 2021
Rentable Square Feet | ft²									111,927
Number of buildings | building									1
Contractual purchase price									$ 28,596,000
2800 Casitas Avenue
Real Estate [Line Items]
Date of Acquisition									Dec. 22, 2021
Rentable Square Feet | ft²									117,000
Number of buildings | building									1
Contractual purchase price									$ 43,000,000
4240 190th Street
Real Estate [Line Items]
Date of Acquisition									Dec. 23, 2021
Rentable Square Feet | ft²									307,487
Number of buildings | building									1
Contractual purchase price									$ 75,300,000
2391-2393 Bateman Avenue
Real Estate [Line Items]
Date of Acquisition									Dec. 28, 2021
Rentable Square Feet | ft²									65,605
Number of buildings | building									1
Contractual purchase price									$ 23,077,000
1168 Sherborn Street
Real Estate [Line Items]
Date of Acquisition									Dec. 29, 2021
Rentable Square Feet | ft²									79,515
Number of buildings | building									1
Contractual purchase price									$ 23,445,000
3071 Coronado Street
Real Estate [Line Items]
Date of Acquisition									Dec. 30, 2021
Rentable Square Feet | ft²									109,908
Number of buildings | building									1
Contractual purchase price									$ 28,000,000
8911 Aviation Blvd
Real Estate [Line Items]
Date of Acquisition									Dec. 30, 2021
Rentable Square Feet | ft²									100,000
Number of buildings | building									1
Contractual purchase price									$ 32,000,000
1020 Bixby Drive
Real Estate [Line Items]
Date of Acquisition									Dec. 31, 2021
Rentable Square Feet | ft²									56,915
Number of buildings | building									1
Contractual purchase price									$ 16,350,000
701-751 Kingshill Place
Real Estate [Line Items]
Date of Acquisition										Mar. 5, 2020
Rentable Square Feet | ft²										169,069
Number of buildings | building										6
Contractual purchase price										$ 33,251,000
2601-2641 Manhattan Beach Blvd
Real Estate [Line Items]
Date of Acquisition										Mar. 5, 2020
Rentable Square Feet | ft²										126,726
Number of buildings | building										6
Contractual purchase price										$ 39,481,000
2410-2420 Santa Fe Avenue
Real Estate [Line Items]
Date of Acquisition										Mar. 5, 2020
Rentable Square Feet | ft²										112,000
Number of buildings | building										1
Contractual purchase price										$ 35,737,000
11600 Los Nietos Road
Real Estate [Line Items]
Date of Acquisition										Mar. 5, 2020
Rentable Square Feet | ft²										103,982
Number of buildings | building										1
Contractual purchase price										$ 16,626,000
5160 Richton Street
Real Estate [Line Items]
Date of Acquisition										Mar. 5, 2020
Rentable Square Feet | ft²										94,976
Number of buildings | building										1
Contractual purchase price										$ 15,653,000
2205 126th Street
Real Estate [Line Items]
Date of Acquisition										Mar. 5, 2020
Rentable Square Feet | ft²										63,532
Number of buildings | building										1
Contractual purchase price										$ 17,712,000
11832-11954 La Cienega Blvd
Real Estate [Line Items]
Date of Acquisition										Mar. 5, 2020
Rentable Square Feet | ft²										63,462
Number of buildings | building										4
Contractual purchase price										$ 19,664,000
7612-7642 Woodwind Drive
Real Estate [Line Items]
Date of Acquisition										Mar. 5, 2020
Rentable Square Feet | ft²										62,377
Number of buildings | building										3
Contractual purchase price										$ 13,780,000
960-970 Knox Street
Real Estate [Line Items]
Date of Acquisition										Mar. 5, 2020
Rentable Square Feet | ft²										39,400
Number of buildings | building										1
Contractual purchase price										$ 9,939,000
25781 Atlantic Ocean Drive
Real Estate [Line Items]
Date of Acquisition										Mar. 5, 2020
Rentable Square Feet | ft²										27,960
Number of buildings | building										1
Contractual purchase price										$ 5,516,000
Brady Way
Real Estate [Line Items]
Date of Acquisition										Apr. 1, 2020
Rentable Square Feet | ft²										0
Number of buildings | building										0
Contractual purchase price										$ 874,000
Number Of Acres | ft²						1
720-750 Vernon Avenue
Real Estate [Line Items]
Date of Acquisition										Apr. 3, 2020
Rentable Square Feet | ft²										71,692
Number of buildings | building										3
Contractual purchase price										$ 15,515,000
6687 Flotilla Street
Real Estate [Line Items]
Date of Acquisition										May 5, 2020
Rentable Square Feet | ft²										120,000
Number of buildings | building										1
Contractual purchase price										$ 21,000,000
1055 Sandhill Avenue
Real Estate [Line Items]
Date of Acquisition										May 28, 2020
Rentable Square Feet | ft²										0
Number of buildings | building										0
Contractual purchase price										$ 14,453,000
22895 Eastpark Drive
Real Estate [Line Items]
Date of Acquisition										Jun. 19, 2020
Rentable Square Feet | ft²										34,950
Number of buildings | building										1
Contractual purchase price										$ 6,844,000
8745-8775 Production Avenue
Real Estate [Line Items]
Date of Acquisition										Jun. 19, 2020
Rentable Square Feet | ft²										46,820
Number of buildings | building										2
Contractual purchase price										$ 7,850,000
15580 Slover Avenue
Real Estate [Line Items]
Date of Acquisition										Jun. 26, 2020
Rentable Square Feet | ft²										60,127
Number of buildings | building										1
Contractual purchase price										$ 9,958,000
15650-15700 Avalon Boulevard
Real Estate [Line Items]
Date of Acquisition										Jul. 1, 2020
Rentable Square Feet | ft²										166,088
Number of buildings | building										2
Contractual purchase price										$ 28,079,000
11308-11350 Penrose Street
Real Estate [Line Items]
Date of Acquisition										Jul. 1, 2020
Rentable Square Feet | ft²										151,604
Number of buildings | building										2
Contractual purchase price										$ 25,427,000
11076-11078 Fleetwood Street
Real Estate [Line Items]
Date of Acquisition										Jul. 1, 2020
Rentable Square Feet | ft²										26,040
Number of buildings | building										1
Contractual purchase price										$ 4,711,000
11529-11547 Tuxford Street
Real Estate [Line Items]
Date of Acquisition										Jul. 1, 2020
Rentable Square Feet | ft²										29,730
Number of buildings | building										1
Contractual purchase price										$ 5,005,000
12133 Greenstone Avenue
Real Estate [Line Items]
Date of Acquisition										Jul. 17, 2020
Rentable Square Feet | ft²										12,586
Number of buildings | building										1
Contractual purchase price										$ 5,483,000
12772-12746 San Fernando Road
Real Estate [Line Items]
Date of Acquisition										Oct. 14, 2020
Rentable Square Feet | ft²										140,837
Number of buildings | building										2
Contractual purchase price										$ 22,050,000
15601 Avalon Boulevard
Real Estate [Line Items]
Date of Acquisition										Oct. 26, 2020
Rentable Square Feet | ft²										63,690
Number of buildings | building										2
Contractual purchase price										$ 15,500,000
Gateway Pointe
Real Estate [Line Items]
Date of Acquisition										Nov. 17, 2020
Rentable Square Feet | ft²										989,195
Number of buildings | building										4
Contractual purchase price										$ 296,590,000
13943-13955 Balboa Blvd
Real Estate [Line Items]
Date of Acquisition										Nov. 17, 2020
Rentable Square Feet | ft²										200,632
Number of buildings | building										1
Contractual purchase price					$ 45,340,000
Acquisition,OperatingPartnershipUnitsIssued | shares					592,186
Van Nuys Airport Industrial Center
Real Estate [Line Items]
Date of Acquisition										Dec. 3, 2020
Rentable Square Feet | ft²										426,466
Number of buildings | building										18
Contractual purchase price										$ 154,637,000
4039 State Street
Real Estate [Line Items]
Date of Acquisition										Dec. 4, 2020
Rentable Square Feet | ft²										139,000
Number of buildings | building										1
Contractual purchase price										$ 29,665,000
10156 Live Oak Avenue
Real Estate [Line Items]
Date of Acquisition										Dec. 4, 2020
Rentable Square Feet | ft²										236,912
Number of buildings | building										1
Contractual purchase price										$ 46,814,000
10694 Tamarind Avenue
Real Estate [Line Items]
Date of Acquisition										Dec. 4, 2020
Rentable Square Feet | ft²										99,999
Number of buildings | building										1
Contractual purchase price										$ 22,390,000
2520 Baseline Road
Real Estate [Line Items]
Date of Acquisition										Dec. 4, 2020
Rentable Square Feet | ft²										156,586
Number of buildings | building										1
Contractual purchase price										$ 30,531,000
12211 Greenstone Avenue
Real Estate [Line Items]
Date of Acquisition										Dec. 9, 2020
Rentable Square Feet | ft²										0
Number of buildings | building										0
Contractual purchase price										$ 16,800,000
1921, 2011, 2055, 2099, 2040 East 27th Street
Real Estate [Line Items]
Date of Acquisition										Dec. 15, 2020
Rentable Square Feet | ft²										300,389
Number of buildings | building										4
Contractual purchase price										$ 63,403,000
2750 & 2800 Alameda Street
Real Estate [Line Items]
Date of Acquisition										Dec. 15, 2020
Rentable Square Feet | ft²										164,026
Number of buildings | building										2
Contractual purchase price										$ 30,369,000
29010 Avenue Paine
Real Estate [Line Items]
Date of Acquisition										Dec. 31, 2020
Rentable Square Feet | ft²										100,157
Number of buildings | building										1
Contractual purchase price										$ 16,037,000
29010 Commerce Center Drive
Real Estate [Line Items]
Date of Acquisition										Dec. 31, 2020
Rentable Square Feet | ft²										117,151
Number of buildings | building										1
Contractual purchase price										$ 24,480,000
13369 Valley Blvd
Real Estate [Line Items]
Date of Acquisition										Dec. 31, 2020
Rentable Square Feet | ft²										105,041
Number of buildings | building										1
Contractual purchase price										$ 20,660,000
6635 Caballero Blvd
Real Estate [Line Items]
Date of Acquisition										Dec. 31, 2020
Rentable Square Feet | ft²										92,395
Number of buildings | building										1
Contractual purchase price										$ 22,802,000
1235 South Lewis Street
Real Estate [Line Items]
Date of Acquisition										Dec. 31, 2020
Rentable Square Feet | ft²										62,607
Number of buildings | building										1
Contractual purchase price										$ 16,800,000
Properties Acquired on March 5, 2020 and June 19, 2020
Real Estate [Line Items]
Number of buildings | building							10	1
Contractual purchase price								$ 214,200,000
Payments to acquire real estate									60,400,000
Payments for Deposits on Real Estate Acquisitions										10,000,000
Secured Debt | 7817 Woodley Avenue
Real Estate [Line Items]
Assumption of debt in connection with acquisition of real estate including loan premium				$ 3,200,000
Secured Debt | 21515 Western Avenue
Real Estate [Line Items]
Assumption of debt in connection with acquisition of real estate including loan premium	$ 13,200,000
Secured Debt | Properties Acquired on March 5, 2020 and June 19, 2020
Real Estate [Line Items]
Assumption of debt in connection with acquisition of real estate including loan premium								47,500,000
Noncontrolling Interests | Operating Partnership
Real Estate [Line Items]
Limited Partners' Capital Account, Units Issued | shares							1,406,170
Fixed Rate Debt | 13943-13955 Balboa Blvd
Real Estate [Line Items]
Assumption of debt in connection with acquisition of real estate including loan premium								$ 15,700,000
Long-term Debt, Gross					$ 15,700,000				$ 15,320,000	$ 15,661,000
1031 Exchange | Gateway Pointe
Real Estate [Line Items]
Payments to acquire real estate					$ 42,400,000
Series 2 CPOP Units
Real Estate [Line Items]
Dividend Rate										4.00%
Series 2 CPOP Units | Properties Acquired on March 5, 2020 and June 19, 2020
Real Estate [Line Items]
Acquisition, Preferred Units, Issued | shares							906,374
Dividend Rate							4.00%

Investments in Real Estate - _2

Investments in Real Estate - Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)loan	Dec. 31, 2020USD ($)
Assets:
Land	$ 1,514,933	$ 729,649
Buildings and improvements	359,970	475,853
Tenant improvements	37,173	4,787
Acquired lease intangible assets	71,919	43,378
Other acquired assets	519	3,390
Total assets acquired	1,984,514	1,257,057
Liabilities:
Acquired lease intangible liabilities	76,992	19,705
Notes payable	16,512	65,264
Deferred rent liability	1,554	0
Other assumed liabilities	26,975	6,062
Total liabilities assumed	122,033	91,031
Net assets acquired	$ 1,862,481	$ 1,166,026
Below Market Lease, Weighted Average Useful Life	7 years 6 months	5 years 7 months 6 days
Number of mortgage loans assumed | loan	2
13943-13955 Balboa Blvd
Liabilities:
Number of mortgage loans assumed | loan	11
In-place Lease Intangibles
Liabilities:
Finite-Lived Intangible Asset, Acquired-in-Place Leases	$ 67,800	$ 40,500
Amortization period of acquired intangible assets	7 years 2 months 12 days	4 years 8 months 12 days
Above-market tenant leases
Liabilities:
Finite-Lived Intangible Asset, Off-market Lease, Favorable, Gross	$ 4,100	$ 2,900
Amortization period of acquired intangible assets	9 years	7 years 4 months 24 days

Investments in Real Estate - _3

Investments in Real Estate - Summary of the Properties Sold (Detail) $ in Thousands	Sep. 30, 2020USD ($)	Sep. 09, 2020USD ($)	Dec. 31, 2021USD ($)ft²	Dec. 31, 2020USD ($)ft²	Dec. 31, 2019USD ($)ft²
Property Dispositions [Line Items]
Rentable Square Feet | ft²			5,650,673	4,978,204
Gains (Losses) on Sales of Investment Real Estate			$ 33,929	$ 13,617	$ 16,297
Gain on sale recognized due to lease relcassification		$ 3,800	0	$ 3,822	$ 0
Purchase price			$ 1,887,797
Disposal Group, Disposed of by Sale, Not Discontinued Operations
Property Dispositions [Line Items]
Rentable Square Feet | ft²			220,684	256,726	182,362
Contract sales price			$ 59,256	$ 47,354	$ 33,599
Gains (Losses) on Sales of Investment Real Estate			$ 33,929	$ 13,617	$ 16,297
Disposal Group, Disposed of by Sale, Not Discontinued Operations | 14723-14825.25 Oxnard Street
Property Dispositions [Line Items]
Date of Disposition			Feb. 12, 2021
Rentable Square Feet | ft²			77,790
Contract sales price			$ 19,250
Gains (Losses) on Sales of Investment Real Estate			$ 9,906
Disposal Group, Disposed of by Sale, Not Discontinued Operations | 6760 Central Avenue, Unit B
Property Dispositions [Line Items]
Date of Disposition			Mar. 15, 2021
Rentable Square Feet | ft²			9,943
Contract sales price			$ 1,530
Gains (Losses) on Sales of Investment Real Estate			$ 954
Disposal Group, Disposed of by Sale, Not Discontinued Operations | 11529-11547 Tuxford Street
Property Dispositions [Line Items]
Date of Disposition			May 20, 2021
Rentable Square Feet | ft²			29,730
Contract sales price			$ 8,176
Gains (Losses) on Sales of Investment Real Estate			$ 2,750
Disposal Group, Disposed of by Sale, Not Discontinued Operations | 5803 Newton Drive
Property Dispositions [Line Items]
Date of Disposition			Sep. 15, 2021
Rentable Square Feet | ft²			71,602
Contract sales price			$ 18,600
Gains (Losses) on Sales of Investment Real Estate			$ 13,702
Disposal Group, Disposed of by Sale, Not Discontinued Operations | 2670-2674 East Walnut Street and 89-91 San Gabriel Boulevard
Property Dispositions [Line Items]
Date of Disposition			Nov. 1, 2021
Rentable Square Feet | ft²			31,619
Contract sales price			$ 11,700
Gains (Losses) on Sales of Investment Real Estate			6,617
Disposal Group, Disposed of by Sale, Not Discontinued Operations | 3927 Oceanic Drive
Property Dispositions [Line Items]
Date of Disposition				Aug. 13, 2020
Rentable Square Feet | ft²				54,740
Contract sales price				$ 10,300
Gains (Losses) on Sales of Investment Real Estate				$ 2,926
Disposal Group, Disposed of by Sale, Not Discontinued Operations | 121 West 33rd Street
Property Dispositions [Line Items]
Date of Disposition				Sep. 18, 2020
Rentable Square Feet | ft²				76,745
Contract sales price				$ 13,500
Gains (Losses) on Sales of Investment Real Estate				$ 7,575
Disposal Group, Disposed of by Sale, Not Discontinued Operations | 2700-2722 South Fairview Street
Property Dispositions [Line Items]
Date of Disposition				Sep. 30, 2020
Rentable Square Feet | ft²				116,575
Contract sales price				$ 20,400
Gains (Losses) on Sales of Investment Real Estate	$ 3,300			$ 3,268
Sales Of Investment Real Estate, Transaction Costs	$ (600)
Disposal Group, Disposed of by Sale, Not Discontinued Operations | 6750 Central Avenue
Property Dispositions [Line Items]
Date of Disposition				Dec. 31, 2020
Rentable Square Feet | ft²				8,666
Contract sales price				$ 1,300
Gains (Losses) on Sales of Investment Real Estate				$ 758
Disposal Group, Disposed of by Sale, Not Discontinued Operations | 2020 Property Dispositions, Excluding Personal Property
Property Dispositions [Line Items]
Rentable Square Feet | ft²				256,726
Contract sales price				$ 45,500
Gains (Losses) on Sales of Investment Real Estate				$ 14,527
Disposal Group, Disposed of by Sale, Not Discontinued Operations | 1055 Sandhill Avenue Personal Property
Property Dispositions [Line Items]
Rentable Square Feet | ft²				0
Contract sales price				$ 1,854
Gains (Losses) on Sales of Investment Real Estate				$ (910)
Purchase price			$ 2,800
Disposal Group, Disposed of by Sale, Not Discontinued Operations | 2350-2384 Orangethorpe Avenue and 1631 Placentia Avenue
Property Dispositions [Line Items]
Date of Disposition					Jun. 27, 2019
Rentable Square Feet | ft²					62,395
Contract sales price					$ 11,575
Gains (Losses) on Sales of Investment Real Estate					$ 4,810
Disposal Group, Disposed of by Sale, Not Discontinued Operations | 939 Poinsettia Avenue - Unit 301
Property Dispositions [Line Items]
Date of Disposition					Jul. 31, 2019
Rentable Square Feet | ft²					6,562
Contract sales price					$ 1,263
Gains (Losses) on Sales of Investment Real Estate					$ 895
Disposal Group, Disposed of by Sale, Not Discontinued Operations | 13914-13932 East Valley Boulevard
Property Dispositions [Line Items]
Date of Disposition					Oct. 11, 2019
Rentable Square Feet | ft²					58,084
Contract sales price					$ 11,180
Gains (Losses) on Sales of Investment Real Estate					$ 6,233
Disposal Group, Disposed of by Sale, Not Discontinued Operations | 2350-2380 Eastman Avenue
Property Dispositions [Line Items]
Date of Disposition					Dec. 20, 2019
Rentable Square Feet | ft²					55,321
Contract sales price					$ 9,581
Gains (Losses) on Sales of Investment Real Estate					$ 4,359

Investments in Real Estate - Re

Investments in Real Estate - Real Estate Held for Sale (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Long Lived Assets Held-for-sale [Line Items]
Real estate held for sale	$ 13,661	$ 10,353
Accumulated depreciation	(6,657)	(1,548)
Real estate held for sale, net	7,004	8,805
Other assets associated with real estate held for sale	209	40
Total assets associated with real estate held for sale, net	7,213	8,845
Tenant security deposits	177	137
Other liabilities associated with real estate held for sale	54	56
Total liabilities associated with real estate held for sale	231	193
Land
Long Lived Assets Held-for-sale [Line Items]
Real estate held for sale	1,849	4,458
Building and improvements
Long Lived Assets Held-for-sale [Line Items]
Real estate held for sale	10,753	5,452
Tenant improvements
Long Lived Assets Held-for-sale [Line Items]
Real estate held for sale	$ 1,059	$ 443

Acquired Lease Intangibles - Su

Acquired Lease Intangibles - Summary of Acquired Lease Intangible Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Acquired Finite Lived Intangible Assets [Line Items]
Total	$ 132,158	$ 92,172
Acquired lease intangible liabilities, net	(127,017)	(67,256)
In-place lease intangibles
Acquired Finite Lived Intangible Assets [Line Items]
Acquired lease intangible assets, gross	256,902	193,653
Accumulated amortization	(135,415)	(109,789)
Total	121,487	83,864
Above-market tenant leases
Acquired Finite Lived Intangible Assets [Line Items]
Acquired lease intangible assets, gross	21,065	17,079
Accumulated amortization	(10,394)	(8,771)
Total	10,671	8,308
Below-market tenant leases
Acquired Finite Lived Intangible Assets [Line Items]
Acquired lease intangible liabilities, gross	(174,686)	(101,297)
Accumulated accretion	47,669	34,041
Acquired lease intangible liabilities, net	$ (127,017)	$ (67,256)

Acquired Lease Intangibles - _2

Acquired Lease Intangibles - Summary of Amortization or Accretion Recorded During the Period Related to Acquired Lease Intangibles (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Acquired Finite Lived Intangible Assets [Line Items]
Amortization of (below) above market lease intangibles, net	$ (15,443)	$ (10,533)	$ (7,907)
In-place Lease Intangibles
Acquired Finite Lived Intangible Assets [Line Items]
Amortization of in-place lease intangibles	30,136	22,903	20,936
Net above (below) market tenant leases
Acquired Finite Lived Intangible Assets [Line Items]
Amortization of (below) above market lease intangibles, net	$ (15,443)	$ (10,533)	$ (7,907)

Acquired Lease Intangibles - _3

Acquired Lease Intangibles - Summary of Estimated Net Amortization Expense of Above Market Leases And In-Place Lease Intangibles (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Acquired Finite Lived Intangible Assets [Line Items]
Total	$ 132,158	$ 92,172
In-place Lease Intangibles
Acquired Finite Lived Intangible Assets [Line Items]
2020	28,080
2021	20,793
2022	15,974
2023	13,037
2024	10,335
Thereafter	33,268
Total	121,487
Net Above/(Below) Market Operating Leases
Acquired Finite Lived Intangible Assets [Line Items]
2020	19,079
2021	16,667
2022	13,845
2023	11,301
2024	9,721
Thereafter	45,733
Total	$ 116,346

Notes Payable - Summary of Note

Notes Payable - Summary of Notes Payable (Detail)	12 Months Ended
	Dec. 31, 2021USD ($)propertyextension	Aug. 11, 2021USD ($)	Aug. 09, 2021USD ($)	Aug. 04, 2021	Dec. 31, 2020USD ($)	Nov. 17, 2020USD ($)
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 1,413,121,000				$ 1,223,494,000
Unsecured Debt	1,275,000,000				1,100,000,000
Secured Debt	138,121,000				123,494,000
Less: unamortized discount and debt issuance costs	(13,556,000)				(7,334,000)
Notes payable	1,399,565,000				1,216,160,000
Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 0				0
Maturity date	Feb. 13, 2024
Extension duration period	6 months
$225M Term Loan Facility | Term Loan
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 0	$ 225,000,000	$ 225,000,000		225,000,000
Maturity date	Jan. 14, 2023
$150M Term Loan Facility | Term Loan
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 150,000,000				150,000,000
Maturity date	May 22, 2025
$400M Senior Notes due 2031
Debt Instrument [Line Items]
Fixed interest rate				2.15%
$60 Million Term Loan Facility
Debt Instrument [Line Items]
Extension period	24 months
$60 Million Term Loan Facility | Term Loan
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 58,108,000				58,499,000
Maturity date	Aug. 1, 2023
Number Of Properties Securing Loan | property	6
Number of extensions | extension	1
Principal payments	$ 65,250
LIBOR | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	0.85%
Fixed interest rate	0.951%
LIBOR | $150M Term Loan Facility | Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate	0.95%
Fixed interest rate	3.713%
LIBOR | $60 Million Term Loan Facility | Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate	1.70%
Fixed interest rate	1.801%
Senior Notes | $100M Notes
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 100,000,000				100,000,000
Fixed interest rate	4.29%
Maturity date	Aug. 6, 2025
Senior Notes | $125M Notes
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 125,000,000				125,000,000
Fixed interest rate	3.93%
Maturity date	Jul. 13, 2027
Senior Notes | $25M Series 2019A Notes
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 25,000,000				25,000,000
Fixed interest rate	3.88%
Maturity date	Jul. 16, 2029
Senior Notes | $400M Senior Notes
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 400,000,000				400,000,000
Fixed interest rate	2.125%
Maturity date	Dec. 1, 2030
Senior Notes | $400M Senior Notes due 2031
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 400,000,000				0
Fixed interest rate	2.15%
Maturity date	Sep. 1, 2031
Senior Notes | $75M Series 2019B Notes
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 75,000,000				75,000,000
Fixed interest rate	4.03%
Maturity date	Jul. 16, 2034
Fixed Rate Debt | 2601-2641 Manhattan Beach Blvd
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 3,951,000				4,065,000
Fixed interest rate	4.08%
Maturity date	Apr. 5, 2023
Debt Instrument, Periodic Payment	$ 23,138
Fixed Rate Debt | 960-970 Knox Street
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 2,399,000				2,488,000
Fixed interest rate	5.00%
Maturity date	Nov. 1, 2023
Debt Instrument, Periodic Payment	$ 17,538
Fixed Rate Debt | 7612-7642 Woodwind Drive
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 3,806,000				3,895,000
Fixed interest rate	5.24%
Maturity date	Jan. 5, 2024
Debt Instrument, Periodic Payment	$ 24,270
Fixed Rate Debt | 11600 Los Nietos Road
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 2,626,000				2,785,000
Fixed interest rate	4.19%
Maturity date	May 1, 2024
Debt Instrument, Periodic Payment	$ 22,637
Fixed Rate Debt | 5160 Richton Street
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 4,272,000				4,387,000
Fixed interest rate	3.79%
Maturity date	Nov. 15, 2024
Debt Instrument, Periodic Payment	$ 23,270
Fixed Rate Debt | 22895 Eastpark Drive
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 2,682,000				2,749,000
Fixed interest rate	4.33%
Maturity date	Nov. 15, 2024
Debt Instrument, Periodic Payment	$ 15,396
Fixed Rate Debt | 701-751 Kingshill Place
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 7,100,000				7,100,000
Fixed interest rate	3.90%
Maturity date	Jan. 5, 2026
Debt Instrument, Periodic Payment	$ 33,488
Fixed Rate Debt | 13943-13955 Balboa Blvd
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 15,320,000				15,661,000	$ 15,700,000
Fixed interest rate	3.93%
Maturity date	Jul. 1, 2027
Debt Instrument, Periodic Payment	$ 79,198
Fixed Rate Debt | 2205 126th Street
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 5,200,000				5,200,000
Fixed interest rate	3.91%
Maturity date	Dec. 1, 2027
Fixed Rate Debt | 2410-2420 Santa Fe Avenue
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 10,300,000				10,300,000
Fixed interest rate	3.70%
Maturity date	Jan. 1, 2028
Fixed Rate Debt | 11832-11954 La Cienega Blvd
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 4,002,000				4,072,000
Fixed interest rate	4.26%
Maturity date	Jul. 1, 2028
Debt Instrument, Periodic Payment	$ 20,194
Fixed Rate Debt | Gilbert La Palma
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 2,119,000				2,293,000
Fixed interest rate	5.125%
Maturity date	Mar. 1, 2031
Debt Instrument, Periodic Payment	$ 24,008
Fixed Rate Debt | 7817 Woodley Avenue
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 3,132,000				0
Fixed interest rate	4.14%
Maturity date	Aug. 1, 2039
Debt Instrument, Periodic Payment	$ 20,855
Fixed Rate Debt | 21515 Western Avenue
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 13,104,000				$ 0
Fixed interest rate	4.50%
Maturity date	Sep. 1, 2042
Debt Instrument, Periodic Payment	$ 81,250
Minimum | LIBOR | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	0.725%
Maximum | LIBOR | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	1.40%

Notes Payable - Summary of Aggr

Notes Payable - Summary of Aggregate Future Minimum Payments of Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
2022	$ 2,570
2023	65,227
2024	13,833
2025	251,423
2026	8,058
Thereafter	1,072,010
Total	$ 1,413,121	$ 1,223,494

Notes Payable - Additional Info

Notes Payable - Additional Information (Detail)

Oct. 12, 2021USD ($)

Aug. 09, 2021USD ($)

Aug. 04, 2021USD ($)

Jun. 30, 2021USD ($)

Jan. 27, 2021USD ($)

Nov. 16, 2020USD ($)

Jun. 19, 2020loan

Mar. 05, 2020USD ($)loan

Feb. 13, 2020USD ($)extension

Jun. 19, 2020USD ($)

Dec. 31, 2021USD ($)loan

Dec. 31, 2020USD ($)

Dec. 31, 2019USD ($)

Aug. 11, 2021USD ($)

Nov. 17, 2020USD ($)

Debt Instrument [Line Items]

Long-term Debt, Gross

$ 1,413,121,000

$ 1,223,494,000

Loss on extinguishment of debt

505,000

104,000

$ 0

Assumption of debt in connection with acquisition of real estate including loan premium

16,512,000

65,264,000

$ 0

Total Fair Value

$ 16,512,000

$ 65,264,000

Number of mortgage loans assumed | loan

2

Properties Acquired on March 5, 2020 and June 19, 2020

Debt Instrument [Line Items]

Number of mortgage loans assumed | loan

1

9

Series A Preferred Stock

Debt Instrument [Line Items]

Dividend Rate

5.875%

5.875%

5.875%

Secured Debt | 7817 Woodley Avenue

Debt Instrument [Line Items]

Assumption of debt in connection with acquisition of real estate including loan premium

$ 3,200,000

Total Fair Value

3,300,000

Unamortized premium

$ 100,000

Secured Debt | 21515 Western Avenue

Debt Instrument [Line Items]

Assumption of debt in connection with acquisition of real estate including loan premium

$ 13,200,000

Secured Debt | Properties Acquired on March 5, 2020 and June 19, 2020

Debt Instrument [Line Items]

Assumption of debt in connection with acquisition of real estate including loan premium

$ 47,500,000

Unamortized premium

$ 1,200,000

Loans assumed

48,800,000

$400M Senior Notes due 2031

Debt Instrument [Line Items]

Debt Instrument, Face Amount

$ 400,000,000

Fixed interest rate

2.15%

Debt Instrument, Discount, Percentage Of Principal Amount

99.014%

Debt Instrument, Redemption Price, Percentage

100.00%

$100 million, Amended Term Loan Facility

Debt Instrument [Line Items]

Repayments of Debt

$ 100,000,000

Senior Notes Due 2030 And 2031

Debt Instrument [Line Items]

Maximum ratio of total indebtedness to total asset value

60.00%

Maximum ratio of secured debt to total asset value

40.00%

Debt service coverage ratio

150.00%

Unencumbered assets to unsecured debt ratio

150.00%

$60 Million Term Loan Facility

Debt Instrument [Line Items]

Debt service coverage ratio

110.00%

Unencumbered liquid assets

$ 5,000,000

Long-term line of credit availability

8,000,000

Unencumbered liquid assets cash and cash equivalents

2,000,000

Minimum fair market net worth

$ 75,000,000

Minimum | Properties Acquired on March 5, 2020 and June 19, 2020

Debt Instrument [Line Items]

Debt term

3 years

Minimum | Secured Debt

Debt Instrument [Line Items]

Percentage rate

3.70%

Minimum | $700 million, Amended Revolver

Debt Instrument [Line Items]

Commitment fee percentage investment grade rating pricing structure

0.125%

Maximum | Properties Acquired on March 5, 2020 and June 19, 2020

Debt Instrument [Line Items]

Debt term

8 years 3 months 18 days

Maximum | Secured Debt

Debt Instrument [Line Items]

Percentage rate

5.24%

Maximum | $700 million, Amended Revolver

Debt Instrument [Line Items]

Commitment fee percentage investment grade rating pricing structure

0.30%

Senior Notes | $400M Senior Notes due 2031

Debt Instrument [Line Items]

Fixed interest rate

2.15%

Maturity date

Sep. 1, 2031

Long-term Debt, Gross

$ 400,000,000

$ 0

Senior Notes | $400M Senior Notes

Debt Instrument [Line Items]

Fixed interest rate

2.125%

Debt Instrument, Discount, Percentage Of Principal Amount

99.211%

Maturity date

Dec. 1, 2030

Long-term Debt, Gross

$ 400,000,000

400,000,000

Debt Instrument, Redemption Price, Percentage

100.00%

Fixed Rate Debt | 7817 Woodley Avenue

Debt Instrument [Line Items]

Fixed interest rate

4.14%

Maturity date

Aug. 1, 2039

Long-term Debt, Gross

$ 3,132,000

0

Fixed Rate Debt | 13943-13955 Balboa Blvd

Debt Instrument [Line Items]

Fixed interest rate

3.93%

Maturity date

Jul. 1, 2027

Long-term Debt, Gross

$ 15,320,000

15,661,000

$ 15,700,000

Assumption of debt in connection with acquisition of real estate including loan premium

15,700,000

Unamortized premium

$ 800,000

Loans assumed

$ 16,500,000

Amended Facility

Debt Instrument [Line Items]

Maximum ratio of total indebtedness to total asset value

60.00%

Minimum ratio of EBITDA to fixed charges

1.5

Maximum ratio of unsecured debt to the value of the unencumbered asset pool

60.00%

Minimum ratio of NOI unsecured interest expense

1.75

Distribution Maximum Funds From Operations Percentage

95.00%

$225 and $150 Million Term Loan Facilities

Debt Instrument [Line Items]

Maximum ratio of secured debt to total asset value

45.00%

Minimum tangible net worth required

$ 2,061,865,500

Maximum debt to tangible net worth ratio required for equity proceeds

75.00%

Senior Notes, 100 and 125 Million

Debt Instrument [Line Items]

Maximum ratio of secured debt to total asset value

40.00%

Maximum ratio of recourse debt to total asset

15.00%

Minimum tangible net worth required

$ 760,740,750

Maximum debt to tangible net worth ratio required for equity proceeds

75.00%

Eurodollar | $700 million, Amended Revolver

Debt Instrument [Line Items]

Basis spread on variable rate

1.00%

Base Rate | Minimum | $700 million, Amended Revolver

Debt Instrument [Line Items]

Basis spread on variable rate investment grade rating pricing structure

0.00%

Base Rate | Maximum | $700 million, Amended Revolver

Debt Instrument [Line Items]

Basis spread on variable rate investment grade rating pricing structure

0.45%

Federal Funds Rate | $700 million, Amended Revolver

Debt Instrument [Line Items]

Basis spread on variable rate

0.50%

LIBOR | Minimum | $700 million, Amended Revolver

Debt Instrument [Line Items]

Basis spread on variable rate investment grade rating pricing structure

0.725%

LIBOR | Maximum | $700 million, Amended Revolver

Debt Instrument [Line Items]

Basis spread on variable rate investment grade rating pricing structure

1.40%

Term Loan | $225M Term Loan Facility

Debt Instrument [Line Items]

Maturity date

Jan. 14, 2023

Long-term Debt, Gross

$ 225,000,000

$ 0

225,000,000

$ 225,000,000

Loss on extinguishment of debt

$ (500,000)

Term Loan | $150M Term Loan Facility

Debt Instrument [Line Items]

Maturity date

May 22, 2025

Long-term Debt, Gross

$ 150,000,000

150,000,000

Term Loan | $60 Million Term Loan Facility

Debt Instrument [Line Items]

Maturity date

Aug. 1, 2023

Long-term Debt, Gross

$ 58,108,000

58,499,000

Term Loan | Revolving Credit Facility

Debt Instrument [Line Items]

Loss on extinguishment of debt

$ (100,000)

Term Loan | Eurodollar | Minimum | $150M Term Loan Facility

Debt Instrument [Line Items]

Basis spread on variable rate

0.80%

Term Loan | Eurodollar | Maximum | $150M Term Loan Facility

Debt Instrument [Line Items]

Basis spread on variable rate

1.60%

Term Loan | Base Rate | Minimum | $150M Term Loan Facility

Debt Instrument [Line Items]

Basis spread on variable rate

0.00%

Term Loan | Base Rate | Maximum | $150M Term Loan Facility

Debt Instrument [Line Items]

Basis spread on variable rate

0.60%

Term Loan | LIBOR | $150M Term Loan Facility

Debt Instrument [Line Items]

Fixed interest rate

3.713%

Basis spread on variable rate

0.95%

Term Loan | LIBOR | $60 Million Term Loan Facility

Debt Instrument [Line Items]

Fixed interest rate

1.801%

Basis spread on variable rate

1.70%

Revolving Credit Facility | Revolving Credit Facility

Debt Instrument [Line Items]

Maturity date

Feb. 13, 2024

Long-term Debt, Gross

$ 0

$ 0

Extension duration period

6 months

Revolving Credit Facility | Line of Credit | $700 million, Amended Revolver

Debt Instrument [Line Items]

Line of Credit Facility, Increase (Decrease), Net

$ 200,000,000

Maximum borrowing capacity

$ 500,000,000

$ 700,000,000

Revolving Credit Facility | Line of Credit | Revolving Credit Facility

Debt Instrument [Line Items]

Number of extensions | extension

2

Extension duration period

6 months

Revolving Credit Facility | Unsecured Credit Facility

Debt Instrument [Line Items]

Additional availability

$ 700,000,000

Revolving Credit Facility | LIBOR

Debt Instrument [Line Items]

Fixed interest rate

0.951%

Basis spread on variable rate

0.85%

Revolving Credit Facility | LIBOR | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

0.725%

Revolving Credit Facility | LIBOR | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

1.40%

Unsecured Credit Facility | Line of Credit | $700 million, Amended Revolver

Debt Instrument [Line Items]

Contingent additional borrowings

$ 700,000,000

Leases - Additional Information

Leases - Additional Information (Detail) $ in Thousands	Nov. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 09, 2020USD ($)	Jun. 30, 2020ft²	Dec. 31, 2021USD ($)ft²renewal_option	Dec. 31, 2020USD ($)ft²	Dec. 31, 2019USD ($)ft²	Jun. 30, 2021USD ($)ft²
Lessee, Lease, Description [Line Items]
Operating lease, fixed and variable lease payments					$ 436,300	$ 318,800
Lease income, lease payments					360,200	266,100
Variable lease payments					$ 76,100	$ 52,700
Lessor, Operating Lease, Term of Contract								5 years
Rentable Square Feet | ft²					5,650,673	4,978,204
Lessor, Operating Lease, Lessee Option To Purchase Underlying Asset, Purchase Price								$ 20,400
Sales-type Lease, Lease Receivable			$ 20,300
Gain on sale recognized due to lease relcassification			$ 3,800		$ 0	$ 3,822	$ 0
Gain on sale of real estate					33,929	13,617	$ 16,297
Lessee, Operating Lease, Sublease, Term Of Contract	3 years 9 months
Lessee, Operating Lease, Sublease, Annual Lease Payment	$ 300
Impairment of right-of-use asset					$ 992	$ 0
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]					Other assets	Other assets
Operating Lease, Liability, Statement of Financial Position [Extensible List]					Accounts payable, accrued expenses and other liabilities	Accounts payable, accrued expenses and other liabilities
Right-of-use assets					$ 3,500	$ 5,600
Lease liabilities					$ 5,049	$ 6,400
Disposal Group, Disposed of by Sale, Not Discontinued Operations
Lessee, Lease, Description [Line Items]
Rentable Square Feet | ft²					220,684	256,726	182,362
Gain on sale of real estate					$ 33,929	$ 13,617	$ 16,297
Disposal Group, Disposed of by Sale, Not Discontinued Operations | 2700-2722 South Fairview Street
Lessee, Lease, Description [Line Items]
Rentable Square Feet | ft²						116,575
Sales Of Investment Real Estate, Transaction Costs		$ 600
Gain on sale of real estate		$ 3,300				$ 3,268
Fairview Street, 2722
Lessee, Lease, Description [Line Items]
Lessor, Operating Lease, Rentable Square Feet | ft²				58,802
Rentable Square Feet | ft²								116,575
Land
Lessee, Lease, Description [Line Items]
Remaining lease term					2 years
Renewal term					10 years
Lessee, Operating Lease, Number Of Renewal Options | renewal_option					2
Minimum monthly rent expense					$ 9
Minimum | Office Building
Lessee, Lease, Description [Line Items]
Remaining lease term					3 years
Renewal term					3 years
Maximum | Office Building
Lessee, Lease, Description [Line Items]
Remaining lease term					4 years
Renewal term					5 years

Leases - Future Minimum Base Re

Leases - Future Minimum Base Rents Under Operating Leases (Detail) $ in Thousands	Dec. 31, 2021USD ($)
Leases [Abstract]
2022	$ 398,894
2023	355,648
2024	298,710
2025	245,811
2026	189,553
Thereafter	688,486
Total	$ 2,177,102

Leases - Lease Cost (Detail)

Leases - Lease Cost (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease cost	$ 1,598	$ 1,354
Variable lease cost	63	39
Total lease cost	$ 1,661	$ 1,393

Leases - Other Information (Det

Leases - Other Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 1,471	$ 1,127
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 0	$ 3,204

Leases - Lease Term and Discoun

Leases - Lease Term and Discount Rate (Detail)	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Weighted-average remaining lease term	3 years 3 months 18 days	4 years 2 months 12 days
Weighted-average discount rate	2.95%	2.99%

Leases - Lease Liability Maturi

Leases - Lease Liability Maturities (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
2022	$ 1,615
2023	1,624
2024	1,600
2025	472
2026	0
Thereafter	0
Total undiscounted lease payments	5,311
Less imputed interest	(262)
Total lease liabilities	$ 5,049	$ 6,400

Interest Rate Derivatives - Sum

Interest Rate Derivatives - Summary of Interest Rate Swap Agreements (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Nov. 12, 2020
Interest Rate Swap $125M Notional Effective February 14, 2018
Derivative [Line Items]
Effective Date	Feb. 14, 2018
Maturity Date	Jan. 14, 2022
LIBOR Interest Strike Rate	1.349%
Current Notional Amount	$ 0	$ 125,000
Fair Value of Interest Rate Derivative Assets/(Derivative Liabilities)	$ 0	(1,591)
Interest Rate Swap $100M Notional Effective August 14, 2018
Derivative [Line Items]
Effective Date	Aug. 14, 2018
Maturity Date	Jan. 14, 2022
LIBOR Interest Strike Rate	1.406%
Current Notional Amount	$ 0	100,000	$ 100,000
Fair Value of Interest Rate Derivative Assets/(Derivative Liabilities)	$ 0	(1,333)
Interest Rate Swap $150M Notional Effective July 22, 2019
Derivative [Line Items]
Effective Date	Jul. 22, 2019
Maturity Date	Nov. 22, 2024
LIBOR Interest Strike Rate	2.7625%
Current Notional Amount	$ 150,000	150,000
Fair Value of Interest Rate Derivative Assets/(Derivative Liabilities)	$ (7,482)	$ (14,656)

Interest Rate Derivatives - Imp

Interest Rate Derivatives - Impact of Derivative Instruments on Consolidated and Combined Statements of Operations - (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Amount of (loss) gain recognized in AOCI on derivatives	$ 263	$ (17,212)	$ (12,103)
Amount of (loss) gain reclassified from AOCI into earnings as “Interest expense”	(8,070)	(6,332)	2,038
Total interest expense presented in the Consolidated Statement of Operations in which the effects of cash flow hedges are recorded (line item “Interest expense”)	$ 40,139	$ 30,849	$ 26,875

Interest Rate Derivatives - Add

Interest Rate Derivatives - Additional Information (Detail)	Aug. 11, 2021USD ($)derivative_instrument	Aug. 09, 2021USD ($)	Jul. 13, 2021USD ($)derivative_instrument	Nov. 16, 2020USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Nov. 12, 2020USD ($)
Derivative [Line Items]
Payments For Termination Of Cash Flow Swap, Operating					$ 4,045,000	$ 1,239,000	$ 0
Long-term Debt, Gross					1,413,121,000	1,223,494,000
Accumulated other comprehensive loss					(9,874,000)	(17,709,000)
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net					3,900,000
Term Loan | $225M Term Loan Facility
Derivative [Line Items]
Long-term Debt, Gross	$ 225,000,000	$ 225,000,000			0	225,000,000
Treasury Lock
Derivative [Line Items]
Number of derivative instruments | derivative_instrument			3
Derivative, Term of Contract			10 years
Derivative, Notional Amount			$ 150,000,000
Derivative, Average Fixed Interest Rate			1.38179%
Payments For Termination Of Cash Flow Swap, Operating		$ 2,800,000
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net					300,000
Interest Rate Swaps $225 Notional
Derivative [Line Items]
Derivative, Notional Amount	225,000,000
Payments For Termination Of Cash Flow Swap, Operating	1,300,000
Accumulated other comprehensive loss	$ 1,300,000
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net					100,000
Interest Rate Swap
Derivative [Line Items]
Payments For Termination Of Cash Flow Swap, Operating				$ 1,200,000
Derivative, Number Of Instruments Terminated | derivative_instrument	2
Accumulated other comprehensive loss								$ 1,200,000
Interest Rate Swap $100M Notional Effective August 14, 2018
Derivative [Line Items]
Derivative, Notional Amount					$ 0	$ 100,000,000		$ 100,000,000

Fair Value Measurements - Asset

Fair Value Measurements - Assets Measures at Fair Value on a Recurring Basis by Level within Fair Value Hierarchy (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Interest Rate Swap Liability	$ (7,482)	$ (17,580)
Total Fair Value
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Interest Rate Swap Asset	0	0
Interest Rate Swap Liability	(7,482)	(17,580)
Quoted Price in Active Markets for Identical Assets and Liabilities (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Interest Rate Swap Asset	0	0
Interest Rate Swap Liability	0	0
Significant Other Observable Inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Interest Rate Swap Asset	0	0
Interest Rate Swap Liability	(7,482)	(17,580)
Significant Unobservable Inputs (Level 3)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Interest Rate Swap Asset	0	0
Interest Rate Swap Liability	$ 0	$ 0

Fair Value Measurements - Carry

Fair Value Measurements - Carrying Value and Estimated Fair Value of Notes Payable (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total Fair Value	$ 16,512	$ 65,264
Notes payable	1,399,565	1,216,160
Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total Fair Value	1,404,680	1,276,217
Fair Value | Quoted Price in Active Markets for Identical Assets and Liabilities (Level 1)
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total Fair Value	0	0
Fair Value | Significant Other Observable Inputs (Level 2)
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total Fair Value	0	0
Fair Value | Significant Unobservable Inputs (Level 3)
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total Fair Value	1,404,680	1,276,217
Carrying Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable	$ 1,399,565	$ 1,216,160

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Chief Executive Officer
Related Party Transaction [Line Items]
Revenue from management and leasing services	$ 0.5	$ 0.4	$ 0.4

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2021USD ($)tenant
Commitments And Contingencies [Line Items]
Commitments for tenant improvement and construction work	$ 52,000,000
Cash, FDIC insured amount	$ 250,000
Total Rental Revenues | Customer Concentration Risk
Commitments And Contingencies [Line Items]
Concentration Risk, Number of Major Customers | tenant	0
Concentration Risk, Threshold Percentage	5.00%

Stockholder's Equity - Summary

Stockholder's Equity - Summary of Cumulative Preferred Stock (Details) - USD ($)	Aug. 04, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Shares outstanding (shares)		6,450,000	10,050,000
Liquidation Preference		$ 161,250,000	$ 251,250,000
Series A Preferred Stock
Class of Stock [Line Items]
Dividend Rate	5.875%	5.875%	5.875%
Shares outstanding (shares)		0	3,600,000
Liquidation Preference		$ 90,000,000	$ 90,000,000
Series B Preferred Stock
Class of Stock [Line Items]
Dividend Rate		5.875%	5.875%
Shares outstanding (shares)		3,000,000	3,000,000
Liquidation Preference		$ 75,000,000	$ 75,000,000
Series C Preferred Stock
Class of Stock [Line Items]
Dividend Rate		5.625%	5.625%	5.625%
Shares outstanding (shares)		3,450,000	3,450,000
Liquidation Preference		$ 86,250,000	$ 86,250,000

Stockholder's Equity - Addition

Stockholder's Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Sep. 27, 2021	Aug. 16, 2021	Aug. 04, 2021	May 24, 2021	Nov. 09, 2020	Jun. 13, 2019	Feb. 11, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Jan. 13, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Preferred Stock Redemption Premium													$ 3,349	$ 0	$ 0
Issuance of stock (shares)													6,683,216
Sale Of Stock, Forward Sale Agreement, Shares Remaining For Settlement								1,906,356					1,906,356
Sale Of Stock, Forward Sale Agreement, Net Proceeds Remaining For Settlement								$ 134,000					$ 134,000
Sale Of Stock, Forward Sale Agreement, Shares Remaining For Settlement, Net Forward Sales price								$ 70.27					$ 70.27
Noncontrolling Interests | Operating Partnership Units | Partnership Interest
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Limited Partners' Capital Account, Units, Purchased											6,900,000	7,187,500
September 2021 Equity Offering
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Sale Of Stock, Number Of Shares Subject To Forward Sale Agreement									9,600,000
Issuance of stock (shares)	3,100,000
Sale Of Stock, Forward Sale Agreement, Gross Offering Value									$ 181,800
Common stock share price (in dollars per share)									$ 58.65
September 2021 Equity Offering, Forward Sale Agreement
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Sale Of Stock, Number Of Shares Subject To Forward Sale Agreement									6,500,000
Issuance of stock (shares)								6,500,000
Sale Of Stock, Forward Sale Agreement, Initial Forward Price									$ 58.65
Sale Of Stock, Net Proceeds From Settlement Of Forward Sale Agreement								$ 379,100
May 2021 Equity Offering Forward Sale Agreement
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Sale Of Stock, Number Of Shares Subject To Forward Sale Agreement				9,000,000
Issuance of stock (shares)									7,190,474	1,809,526
Sale Of Stock, Forward Sale Agreement, Initial Forward Price				$ 55.29
Sale Of Stock, Number Of Shares Sold And Borrowed By Forward Purchasers				9,000,000
Sale Of Stock, Net Proceeds From Settlement Of Forward Sale Agreement									$ 395,000	$ 100,000
Sale Of Stock, Forward Sale Agreement, Net Forward Sale Price Per Share									$ 54.93	$ 55.26
Underwritten Public Offering
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of stock (shares)											6,900,000	7,187,500
Common stock share price (in dollars per share)										$ 39.67	$ 47.15	$ 39.67		$ 47.15
Proceeds from issuance of common stock, net											$ 325,000	$ 285,000
Underwritten Public Offering, Option Securities
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of stock (shares)											900,000	937,500
At The Market Equity Offering Program, $550 Million
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum aggregate offering amount						$ 550,000
Common stock, shares available under ATM					$ 296,500
At The Market Equity Offering Program, $750 Million [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Sale Of Stock, Number Of Shares Subject To Forward Sale Agreement													8,589,572
Issuance of stock (shares)													3,201,560
Sale Of Stock, Forward Sale Agreement, Initial Forward Price													$ 62.87
Sale Of Stock, Net Proceeds From Settlement Of Forward Sale Agreement													$ 405,300
Sale Of Stock, Forward Sale Agreement, Net Forward Sale Price Per Share													$ 60.65
Common stock share price (in dollars per share)								$ 52.27					$ 52.27
Proceeds from issuance of common stock, net													$ 165,200
Maximum aggregate offering amount					$ 750,000
Proceeds from issuance of common stock													$ 167,300
At The Market Equity Offering Program, $750 Million [Member] | Subsequent Event
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Proceeds from issuance of common stock																$ 743,900
At The Market Equity Offering Program, $750 Million and $550 Million [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of stock (shares)														3,165,661
Common stock share price (in dollars per share)											$ 39.96			$ 39.96
Proceeds from issuance of common stock, net														$ 124,700
Proceeds from issuance of common stock														$ 126,500
At The Market Equity Offering Program, $550 Million and $450 Million
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of stock (shares)															16,817,930
Common stock share price (in dollars per share)															$ 38.61
Proceeds from issuance of common stock, net															$ 639,600
Proceeds from issuance of common stock															$ 649,300
At The Market Equity Offering Program, Subsequent $750 Million | Subsequent Event
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum aggregate offering amount							$ 750,000
Preferred Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Liquidation preference (in dollars per share)								$ 25					$ 25
Series A Preferred Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock redeemed (in shares)		3,600,000
Dividend Rate			5.875%										5.875%	5.875%
Preferred stock, redemption price per share (in dollars per share)		$ 25
Preferred stock, dividends per share (in dollars per share)		0.183594
Preferred stock, redemption price per share, including dividends (in dollars per sahre)		$ 25.183594
Preferred stock, redemption amount		$ 90,700
Preferred Stock Redemption Premium		$ 3,300

Stockholder's Equity - Summar_2

Stockholder's Equity - Summary of the Components of Changes in Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ 3,530,592	$ 2,622,449	$ 1,908,423
Other comprehensive income (loss) before reclassifications	263	(17,212)
Amounts reclassified from accumulated other comprehensive loss to interest expense	8,070	6,332
Net current period other comprehensive income (loss)	8,333	(10,880)	(14,141)
Less: other comprehensive (income) loss attributable to noncontrolling interests	(498)	713
Other comprehensive income (loss) attributable to common stockholders	7,835	(10,167)
Ending Balance	5,067,695	3,530,592	2,622,449
Amount of (loss) gain reclassified from AOCI into earnings as “Interest expense”	(8,070)	(6,332)	2,038
Interest Rate Swap
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amount of (loss) gain reclassified from AOCI into earnings as “Interest expense”	2,200	200
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(17,709)	(7,542)	6,262
Net current period other comprehensive income (loss)	7,835	(10,167)	(13,804)
Ending Balance	$ (9,874)	$ (17,709)	$ (7,542)

Stockholder's Equity - Federal

Stockholder's Equity - Federal Tax Treatment of Distributions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Common Stock
Class of Stock [Line Items]
Dividend, federal income tax treatment (in dollars per share)	$ 1.049243	$ 0.834238	$ 0.783269
Dividend, federal income tax treatment	100.00%	100.00%	100.00%
Common Stock | Ordinary Income
Class of Stock [Line Items]
Dividend, federal income tax treatment (in dollars per share)	$ 1.049243	$ 0.834238	$ 0.783269
Dividend, federal income tax treatment	100.00%	100.00%	100.00%
Common Stock | Return of Capital
Class of Stock [Line Items]
Dividend, federal income tax treatment (in dollars per share)	$ 0	$ 0	$ 0
Dividend, federal income tax treatment	0.00%	0.00%	0.00%
Common Stock | Capital Gain
Class of Stock [Line Items]
Dividend, federal income tax treatment (in dollars per share)	$ 0	$ 0	$ 0
Dividend, federal income tax treatment	0.00%	0.00%	0.00%
Series A Preferred Stock
Class of Stock [Line Items]
Dividend, federal income tax treatment (in dollars per share)	$ 0.917970	$ 1.468752	$ 1.468752
Dividend, federal income tax treatment	100.00%	100.00%	100.00%
Series A Preferred Stock | Ordinary Income
Class of Stock [Line Items]
Dividend, federal income tax treatment (in dollars per share)	$ 0.917970	$ 1.468752	$ 1.468752
Dividend, federal income tax treatment	100.00%	100.00%	100.00%
Series A Preferred Stock | Return of Capital
Class of Stock [Line Items]
Dividend, federal income tax treatment (in dollars per share)	$ 0	$ 0	$ 0
Dividend, federal income tax treatment	0.00%	0.00%	0.00%
Series A Preferred Stock | Capital Gain
Class of Stock [Line Items]
Dividend, federal income tax treatment (in dollars per share)	$ 0	$ 0	$ 0
Dividend, federal income tax treatment	0.00%	0.00%	0.00%
Series B Preferred Stock
Class of Stock [Line Items]
Dividend, federal income tax treatment (in dollars per share)	$ 1.468752	$ 1.468752	$ 1.468752
Dividend, federal income tax treatment	100.00%	100.00%	100.00%
Series B Preferred Stock | Ordinary Income
Class of Stock [Line Items]
Dividend, federal income tax treatment (in dollars per share)	$ 1.468752	$ 1.468752	$ 1.468752
Dividend, federal income tax treatment	100.00%	100.00%	100.00%
Series B Preferred Stock | Return of Capital
Class of Stock [Line Items]
Dividend, federal income tax treatment (in dollars per share)	$ 0	$ 0	$ 0
Dividend, federal income tax treatment	0.00%	0.00%	0.00%
Series B Preferred Stock | Capital Gain
Class of Stock [Line Items]
Dividend, federal income tax treatment (in dollars per share)	$ 0	$ 0	$ 0
Dividend, federal income tax treatment	0.00%	0.00%	0.00%
Series C Preferred Stock
Class of Stock [Line Items]
Dividend, federal income tax treatment (in dollars per share)	$ 1.406252	$ 1.406252	$ 0.394531
Dividend, federal income tax treatment	100.00%	100.00%	100.00%
Series C Preferred Stock | Ordinary Income
Class of Stock [Line Items]
Dividend, federal income tax treatment (in dollars per share)	$ 1.406252	$ 1.406252	$ 0.394531
Dividend, federal income tax treatment	100.00%	100.00%	100.00%
Series C Preferred Stock | Return of Capital
Class of Stock [Line Items]
Dividend, federal income tax treatment (in dollars per share)	$ 0	$ 0	$ 0
Dividend, federal income tax treatment	0.00%	0.00%	0.00%
Series C Preferred Stock | Capital Gain
Class of Stock [Line Items]
Dividend, federal income tax treatment (in dollars per share)	$ 0	$ 0	$ 0
Dividend, federal income tax treatment	0.00%	0.00%	0.00%

Noncontrolling Interests (Detai

Noncontrolling Interests (Details)	Dec. 31, 2020USD ($)buildingshares	Nov. 17, 2020USD ($)shares	Mar. 05, 2020USD ($)building$ / sharesshares	Apr. 10, 2019USD ($)shares	Jun. 19, 2020USD ($)building	Dec. 31, 2021USD ($)building$ / sharesshares	Dec. 31, 2020USD ($)buildingshares	Dec. 31, 2019USD ($)shares
Noncontrolling Interest [Line Items]
Number of buildings | building	82					80	82
Contractual purchase price							$ 1,227,426,000
Issuance of OP units							179,262,000	$ 27,359,000
Conversion of OP Units to common stock						$ 0	0	0
Issuance of cumulative redeemable convertible preferred units							40,787,000
Liquidation Preference	$ 251,250,000					$ 161,250,000	$ 251,250,000
Convertible Preferred Units, Common Units Issued Upon Conversion | shares			0.7722
13943-13955 Balboa Blvd
Noncontrolling Interest [Line Items]
Number of buildings | building	1						1
Contractual purchase price		$ 45,340,000
Issuance of OP units		$ 27,800,000
Acquisition,OperatingPartnershipUnitsIssued | shares		592,186
Properties Acquired on December 31, 2020
Noncontrolling Interest [Line Items]
Number of buildings | building	4					4	4
Contractual purchase price	$ 84,000,000
Acquisition,OperatingPartnershipUnitsIssued | shares	1,800,000						1,800,000
Properties Acquired on March 5, 2020 and June 19, 2020
Noncontrolling Interest [Line Items]
Number of buildings | building			10		1
Contractual purchase price					$ 214,200,000
1515 15th Street
Noncontrolling Interest [Line Items]
Contractual purchase price				$ 28,100,000
Closing Costs for Acquisition of 1515 East 15th Street				700,000
Noncontrolling Interests
Noncontrolling Interest [Line Items]
Issuance of OP units							$ 179,262,000	27,359,000
Conversion of OP Units to common stock						$ (17,466,000)	(7,660,000)	$ (665,000)
Issuance of cumulative redeemable convertible preferred units							$ 40,787,000
Noncontrolling Interests | Properties Acquired on March 5, 2020 and June 19, 2020
Noncontrolling Interest [Line Items]
Issuance of OP units			$ 67,500,000
Noncontrolling Interests | Operating Partnership
Noncontrolling Interest [Line Items]
Noncontrolling interest percentage ownership in Operating Partnership						3.80%
Noncontrolling Interests | Operating Partnership
Noncontrolling Interest [Line Items]
Issuance of operating partnership units (shares) | shares						5,022,622
Limited Partners' Capital Account, Units Issued | shares			1,406,170
Noncontrolling Interests | Operating Partnership | LTIP Units
Noncontrolling Interest [Line Items]
Issuance of operating partnership units (shares) | shares						633,856
Noncontrolling Interests | Operating Partnership | Performance Units
Noncontrolling Interest [Line Items]
Issuance of operating partnership units (shares) | shares						744,899
Common Stock
Noncontrolling Interest [Line Items]
Conversion of units to common stock (shares) | shares						521,199	296,313	96,060
Conversion of OP Units to common stock						$ 5,000	$ 3,000	$ 1,000
Total Stockholders’ Equity
Noncontrolling Interest [Line Items]
Conversion of OP Units to common stock						$ 17,466,000	$ 7,660,000	$ 665,000
Series C Preferred Stock
Noncontrolling Interest [Line Items]
Dividend Rate						5.625%	5.625%	5.625%
Liquidation Preference	$ 86,250,000					$ 86,250,000	$ 86,250,000
Series 2 CPOP Units
Noncontrolling Interest [Line Items]
Dividend Rate							4.00%
Series 2 CPOP Units | Properties Acquired on March 5, 2020 and June 19, 2020
Noncontrolling Interest [Line Items]
Acquisition, Preferred Units, Issued | shares			906,374
Dividend Rate			4.00%
Issuance of cumulative redeemable convertible preferred units			$ 40,800,000
Liquidation Preference			$ 40,800,000
Liquidation preference (in dollars per share) | $ / shares			$ 45
Series 1 CPOP Units
Noncontrolling Interest [Line Items]
Dividend Rate								4.43937%
Liquidation Preference						$ 27,000,000
Liquidation preference (in dollars per share) | $ / shares						$ 45.50952
Series 1 CPOP Units | 1515 15th Street
Noncontrolling Interest [Line Items]
Issuance of OP units				$ 27,400,000
Acquisition, Preferred Units, Issued | shares				593,960
Dividend Rate				4.43937%
Series A Preferred Units
Noncontrolling Interest [Line Items]
Dividend Rate						5.875%

Incentive Award Plan - Addition

Incentive Award Plan - Additional Information (Detail)	Jan. 18, 2022shares	Dec. 23, 2021USD ($)$ / sharesshares	Dec. 14, 2021shares	Jan. 27, 2021shares	Dec. 22, 2020USD ($)$ / sharesshares	Dec. 14, 2020shares	Sep. 01, 2020USD ($)installment$ / sharesshares	Feb. 04, 2020shares	Dec. 28, 2019shares	Dec. 16, 2019USD ($)$ / sharesshares	Dec. 31, 2021USD ($)installment$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost for all equity-based compensation arrangements | $											$ 41,400,000
Weighted average remaining vesting period												28 months
Second Amended and Restated 2013 Incentive Award Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)											2,650,950
Performance Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested performance unit distribution sharing percentage											10.00%
Performance period											3 years
Distributions accruing during performance period											90.00%
Grant date fair value | $		$ 8,962,000			$ 6,928,000					$ 3,922,000
Units vested in period (shares)			170,413			184,502			195,628
Performance Units | Executive Officers
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period (shares)		366,004			476,915					294,994	366,004	476,915	294,994
Performance period											3 years	3 years	3 years
LTIP Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period (shares)											148,533	157,404	179,758
Closing share price of common stock (in dollars per share) | $ / shares											$ 40.65	$ 34.31	$ 26.14
Units vested in period (shares)											145,470	196,375	208,394
Number of units canceled (shares)												22,795
LTIP Units | Executive Officers
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period (shares)											93,030	121,112	120,243
Grant date fair value | $		$ 6,648,000			$ 5,437,000					$ 5,148,000
Compensation expense | $											$ 1,900,000	$ 1,500,000	$ 1,800,000
LTIP Units | Howard Schwimmer
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period (shares)				15,288				18,146
LTIP Units | Howard Schwimmer | Subsequent Event
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period (shares)	12,824
LTIP Units | Michael S. Frankel
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period (shares)				15,288				18,146
LTIP Units | Michael S. Frankel | Subsequent Event
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period (shares)	12,824
Absolute TSR Base Units | Executive Officers
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period (shares)		113,871			148,030					118,339
Performance period											3 years
Relative TSR Base Units | Executive Officers
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period (shares)		113,871			148,030					74,033
Performance period											3 years
FFO Base Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant date fair value | $		$ 2,900,000			$ 2,400,000					$ 2,000,000
Closing share price of common stock (in dollars per share) | $ / shares		$ 77.50			$ 48.58					$ 45.74
FFO Base Units | Executive Officers
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period (shares)		113,871			148,027					85,898
Performance period											3 years
Distribution Equivalents | Executive Officers
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period (shares)		24,391			32,828					16,724
Performance period											3 years
Restricted stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period (shares)											132,537	126,865	110,711
Closing share price of common stock (in dollars per share) | $ / shares											$ 35.45	$ 28.50	$ 23.23
Units vested in period (shares)											92,494	90,383	81,277
Number of vesting installment period | installment							3				4
Number of units canceled (shares)											23,763	16,128	17,287
Restricted stock | Other Employees
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period (shares)											120,734	107,648
Grant date fair value | $											$ 5,600,000	$ 5,000,000
Restricted stock | Other Employees | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Closing share price of common stock (in dollars per share) | $ / shares											$ 48.14	$ 39.71
Restricted stock | Other Employees | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Closing share price of common stock (in dollars per share) | $ / shares											$ 62.19	$ 50.18
Restricted stock | Chief Financial Officer
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period (shares)							3,497
Grant date fair value | $							$ 167,000
Closing share price of common stock (in dollars per share) | $ / shares							$ 47.65
Restricted stock | Non-Employee Directors
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period (shares)											1,873	2,507
Grant date fair value | $											$ 109,964	$ 100,000
Closing share price of common stock (in dollars per share) | $ / shares											$ 58.71	$ 39.88
2013 Incentive Award Plan | Performance Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested performance unit distribution sharing percentage											10.00%
2013 Incentive Award Plan | Performance Award, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance period			3 years
2013 Incentive Award Plan | Performance Award, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance period						3 years
2013 Incentive Award Plan | Performance Award, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance period									3 years
First anniversary | Amended and Restated 2013 Incentive Award Plan | LTIP Units | Executive Officers
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting installments											33.33%	33.33%	33.33%
Second anniversary | Amended and Restated 2013 Incentive Award Plan | LTIP Units | Executive Officers
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting installments											33.33%	33.33%	33.33%
Third anniversary | Amended and Restated 2013 Incentive Award Plan | LTIP Units | Executive Officers
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting installments											33.33%	33.33%	33.33%

Incentive Award Plan - LTIP Uni

Incentive Award Plan - LTIP Units and Performance Units (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 23, 2021	Dec. 22, 2020	Dec. 16, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
LTIP Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Closing share price of common stock (in dollars per share)				$ 62.45	$ 45.86	$ 39.67
Equity instruments other than options granted in period (shares)				148,533	157,404	179,758
Number of units canceled (shares)					22,795
Performance Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant date fair value	$ 8,962	$ 6,928	$ 3,922
Fair Value Assumptions and Methodology [Abstract]
Expected price volatility	31.00%	31.00%	18.00%
Expected price volatility, minimum	17.00%	17.00%	12.00%
Expected price volatility, maximum	100.00%	100.00%	100.00%
Expected dividend yield	1.70%	1.90%	1.90%
Risk free interest rate	0.98%	0.19%	1.74%
Performance Units | Granted 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of units canceled (shares)					41,094
FFO Base Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant date fair value	$ 2,900	$ 2,400	$ 2,000
Market Performance Award 2021
Fair Value Assumptions and Methodology [Abstract]
Expected volatility rate, median for peer group companies	45.00%
Expected volatility rate, average for peer group companies	47.90%
2020 Market Performance Award
Fair Value Assumptions and Methodology [Abstract]
Expected volatility rate, median for peer group companies		45.00%
Expected volatility rate, average for peer group companies		47.40%
2019 Market Performance Award
Fair Value Assumptions and Methodology [Abstract]
Expected volatility rate, median for peer group companies			21.00%
Expected volatility rate, average for peer group companies			24.40%
Executive Officers | LTIP Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Discount for post-vesting restrictions and book-up events	7.80%	7.60%	6.40%
Grant date fair value	$ 6,648	$ 5,437	$ 5,148
Equity instruments other than options granted in period (shares)				93,030	121,112	120,243
Executive Officers | Performance Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period (shares)	366,004	476,915	294,994	366,004	476,915	294,994
Executive Officers | Absolute TSR Base Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period (shares)	113,871	148,030	118,339
Executive Officers | Relative TSR Base Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period (shares)	113,871	148,030	74,033
Executive Officers | FFO Base Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period (shares)	113,871	148,027	85,898
Executive Officers | Distribution Equivalents
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period (shares)	24,391	32,828	16,724
Absolute TSR Vesting Percentage Range One | Absolute TSR Base Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Company TSR Percentage	18.00%	18.00%	18.00%
Absolute TSR Vesting Percentage	0.00%	0.00%	0.00%
Absolute TSR Vesting Percentage Range Two | Absolute TSR Base Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Company TSR Percentage	18.00%	18.00%	18.00%
Absolute TSR Vesting Percentage	16.70%	16.70%	25.00%
Absolute TSR Vesting Percentage Range Three | Absolute TSR Base Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Company TSR Percentage	24.00%	24.00%	24.00%
Absolute TSR Vesting Percentage	33.40%	33.40%	50.00%
Absolute TSR Vesting Percentage Range Four | Absolute TSR Base Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Company TSR Percentage	30.00%	30.00%	30.00%
Absolute TSR Vesting Percentage	66.70%	66.70%	100.00%
Absolute TSR Vesting Percentage Range Five | Absolute TSR Base Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Company TSR Percentage	40.00%	40.00%
Absolute TSR Vesting Percentage	100.00%	100.00%
Relative TSR Vesting Percentage Range One | Relative TSR Base Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Peer Group Relative Performance	0.35%	0.35%	0.35%
Relative TSR Vesting Percentage	0.00%	0.00%	0.00%
Relative TSR Vesting Percentage Range Two | Relative TSR Base Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Peer Group Relative Performance	0.35%	0.35%	0.35%
Relative TSR Vesting Percentage	16.70%	16.70%	25.00%
Relative TSR Vesting Percentage Range Three | Relative TSR Base Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Peer Group Relative Performance	0.55%	0.55%	0.55%
Relative TSR Vesting Percentage	33.40%	33.40%	50.00%
Relative TSR Vesting Percentage Range Four | Relative TSR Base Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Peer Group Relative Performance	0.75%	0.75%	0.75%
Relative TSR Vesting Percentage	66.70%	66.70%	100.00%
Relative TSR Vesting Percentage Range Five | Relative TSR Base Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Peer Group Relative Performance	0.90%	0.90%
Relative TSR Vesting Percentage	100.00%	100.00%
FFO Per Share Growth Percentage Range One | FFO Base Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
FFO per Share Growth	12.00%	12.00%	12.00%
FFO Per Share Growth Percentage Range Two | FFO Base Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
FFO per Share Growth	12.00%	12.00%	12.00%
FFO Per Share Growth Percentage Range Three | FFO Base Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
FFO per Share Growth	16.50%	16.50%	16.50%
FFO Per Share Growth Percentage Range Four | FFO Base Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
FFO per Share Growth	21.00%	21.00%	21.00%
FFO Per Share Growth Percentage Range Five | FFO Base Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
FFO per Share Growth	26.00%	26.00%
FFO Growth Per Share Vesting Percentage Range One | FFO Base Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
FFO Vesting Percentage	0.00%	0.00%	0.00%
FFO Growth Per Share Vesting Percentage Range Two | FFO Base Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
FFO Vesting Percentage	16.70%	16.70%	25.00%
FFO Growth Per Share Vesting Percentage Range Three | FFO Base Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
FFO Vesting Percentage	33.40%	33.40%	50.00%
FFO Growth Per Share Vesting Percentage Range Four | FFO Base Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
FFO Vesting Percentage	66.70%	66.70%	100.00%
FFO Growth Per Share Vesting Percentage Range Five | FFO Base Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
FFO Vesting Percentage	100.00%	100.00%
Common Stock | Executive Officers | LTIP Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Closing share price of common stock (in dollars per share)	$ 77.50	$ 48.58	$ 45.74

Incentive Award Plan - Schedule

Incentive Award Plan - Schedule of Non-Option Activity (Detail) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
LTIP Units
Number of Unvested Shares of Non-Options
Beginning balance (shares)	236,646	298,412	327,048
Granted (shares)	148,533	157,404	179,758
Forfeited (shares)		(22,795)
Vested (shares)	(145,470)	(196,375)	(208,394)
Ending balance (shares)	239,709	236,646	298,412
Weighted-Average Grant Date Fair Value per Share
Beginning balance (in dollars per share)	$ 41.49	$ 34.26	$ 26.12
Granted (in dollars per share)	62.45	45.86	39.67
Forfeited (in dollars per share)		38.89
Vested (in dollars per share)	40.65	34.31	26.14
Ending balance (in dollars per share)	$ 54.99	$ 41.49	$ 34.26
Restricted stock
Number of Unvested Shares of Non-Options
Beginning balance (shares)	232,899	212,545	200,398
Granted (shares)	132,537	126,865	110,711
Forfeited (shares)	(23,763)	(16,128)	(17,287)
Vested (shares)	(92,494)	(90,383)	(81,277)
Ending balance (shares)	249,179	232,899	212,545
Weighted-Average Grant Date Fair Value per Share
Beginning balance (in dollars per share)	$ 38.43	$ 29.64	$ 20.13
Granted (in dollars per share)	50.62	45.94	34.85
Forfeited (in dollars per share)	42.69	37.25	29.71
Vested (in dollars per share)	35.45	28.50	23.23
Ending balance (in dollars per share)	$ 45.62	$ 38.43	$ 29.64
Fair value of vested shares	$ 4.6	$ 4.1	$ 2.9
Shares tendered for tax withholding requirements (shares)	29,305	27,473	24,618

Incentive Award Plan - Share-ba

Incentive Award Plan - Share-based Awards Expensed & Capitalized Amounts (Details) - Amended and Restated 2013 Incentive Award Plan - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expensed share-based compensation	$ 19,506	$ 12,871	$ 10,756
Capitalized share-based compensation	357	223	174
Total share-based compensation	$ 19,863	$ 13,094	$ 10,930

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Numerator:
Net income	$ 136,246	$ 80,895	$ 64,001
Less: Preferred stock dividends	(12,563)	(14,545)	(11,055)
Less: Original issuance costs of redeemed preferred stock	(3,349)	0	0
Less: Net income attributable to noncontrolling interests	(8,005)	(4,492)	(2,022)
Less: Net income attributable to participating securities	(568)	(509)	(447)
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS	$ 111,761	$ 61,349	$ 50,477
Denominator:
Weighted average shares of common stock outstanding - basic and diluted (in shares)	139,294,882	120,873,624	106,407,283
Effect of dilutive securities - performance units (in shares)	780,807	304,686	391,765
Weighted average shares of common stock outstanding - diluted (in shares)	140,075,689	121,178,310	106,799,048
Net income attributable to common stockholders
Earnings per share- Basic (in dollars per share)	$ 0.80	$ 0.51	$ 0.47
Earnings per share- Diluted (in dollars per share)	$ 0.80	$ 0.51	$ 0.47
Performance Units
Net income attributable to common stockholders
Performance period	3 years

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) $ / shares in Units, $ in Thousands

Feb. 11, 2022USD ($)ft²property

Feb. 10, 2022USD ($)ft²property

Feb. 08, 2022USD ($)ft²property

Feb. 07, 2022$ / shares

Feb. 02, 2022USD ($)ft²property

Feb. 01, 2022USD ($)ft²property

Jan. 31, 2022USD ($)ft²property

Jan. 14, 2022USD ($)ft²property

Dec. 31, 2021USD ($)ft²building$ / shares

Dec. 31, 2020USD ($)ft²building$ / shares

Dec. 31, 2019USD ($)ft²$ / shares

Jan. 13, 2022USD ($)

Subsequent Event [Line Items]

Contractual purchase price

$ 1,227,426

Number of buildings | building

80

82

Rentable square feet | ft²

5,650,673

4,978,204

Common stock dividends declared (in dollars per share) | $ / shares

$ 0.96

$ 0.86

$ 0.74

Disposal Group, Disposed of by Sale, Not Discontinued Operations

Subsequent Event [Line Items]

Rentable square feet | ft²

220,684

256,726

182,362

Disposition Sales Price

$ 59,256

$ 47,354

$ 33,599

Subsequent Event

Subsequent Event [Line Items]

Contractual purchase price

$ 182,982

Number of buildings | property

6

Rentable square feet | ft²

513,045

Subsequent Event | 444 Quay Avenue

Subsequent Event [Line Items]

Contractual purchase price

$ 10,760

Number of buildings | property

1

Rentable square feet | ft²

29,760

Subsequent Event | 18455 Figueroa Street

Subsequent Event [Line Items]

Contractual purchase price

$ 64,250

Number of buildings | property

1

Rentable square feet | ft²

146,765

Subsequent Event | 24903 Avenue Kearny

Subsequent Event [Line Items]

Contractual purchase price

$ 58,463

Number of buildings | property

1

Rentable square feet | ft²

214,436

Subsequent Event | 19475 Gramercy Place

Subsequent Event [Line Items]

Contractual purchase price

$ 11,300

Number of buildings | property

1

Rentable square feet | ft²

47,712

Subsequent Event | 14005 Live Oak Avenue

Subsequent Event [Line Items]

Contractual purchase price

$ 25,000

Number of buildings | property

1

Rentable square feet | ft²

56,510

Subsequent Event | 13700 Slover Ave

Subsequent Event [Line Items]

Contractual purchase price

$ 13,209

Number of buildings | property

1

Rentable square feet | ft²

17,862

Subsequent Event | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Avenue Stanford [Member]

Subsequent Event [Line Items]

Disposition Sales Price

$ 16,500

Common Stock | Subsequent Event

Subsequent Event [Line Items]

Common stock dividends declared (in dollars per share) | $ / shares

$ 0.315

Operating Partnership Units | Subsequent Event

Subsequent Event [Line Items]

Quarterly cash distribution (in dollars per share) | $ / shares

0.315

Series B Preferred Stock

Subsequent Event [Line Items]

Dividend Rate

5.875%

5.875%

Preferred stock dividends declared (in dollars per share) | $ / shares

$ 1.468752

$ 1.468752

$ 1.468752

Series B Preferred Stock | Subsequent Event

Subsequent Event [Line Items]

Preferred stock dividends declared (in dollars per share) | $ / shares

0.367188

Series C Preferred Stock

Subsequent Event [Line Items]

Dividend Rate

5.625%

5.625%

5.625%

Preferred stock dividends declared (in dollars per share) | $ / shares

$ 1.406252

$ 1.406252

$ 0.394531

Series C Preferred Stock | Subsequent Event

Subsequent Event [Line Items]

Preferred stock dividends declared (in dollars per share) | $ / shares

0.351563

Series 1 CPOP Units

Subsequent Event [Line Items]

Dividend Rate

4.43937%

Series 1 CPOP Units

Subsequent Event [Line Items]

Dividend Rate

4.43937%

Series 1 CPOP Units | Series 1 CPOP Units

Subsequent Event [Line Items]

Dividend Rate

4.43937%

Series 1 CPOP Units | Series 1 CPOP Units | Subsequent Event

Subsequent Event [Line Items]

Quarterly cash distribution (in dollars per share) | $ / shares

0.505085

Series 2 CPOP Units

Subsequent Event [Line Items]

Dividend Rate

4.00%

Series 2 CPOP Units | Series 2 CPOP Units

Subsequent Event [Line Items]

Dividend Rate

4.00%

Series 2 CPOP Units | Series 2 CPOP Units | Subsequent Event

Subsequent Event [Line Items]

Quarterly cash distribution (in dollars per share) | $ / shares

$ 0.450000

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 80,013
Land, Initial Cost	4,145,557
Buildings and Improvements, Initial Cost	2,353,623
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	436,416
Land, Gross Amounts	4,143,021
Buildings and Improvements, Gross Amounts	2,788,051
Total, Gross	6,931,072
Accumulated Depreciation	(473,382)	$ (375,423)	$ (296,777)	$ (228,742)
Long-term Debt, Gross	1,413,121	1,223,494
Term Loan | $60 Million Term Loan Facility
Real Estate And Accumulated Depreciation [Line Items]
Long-term Debt, Gross	$ 58,108	$ 58,499
15241 - 15277, 15317 - 15339 Don Julian Rd.
Real Estate And Accumulated Depreciation [Line Items]
Location	City of Industry, CA
Land, Initial Cost	$ 3,875
Buildings and Improvements, Initial Cost	2,407
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	9,976
Land, Gross Amounts	3,875
Buildings and Improvements, Gross Amounts	12,383
Total, Gross	16,258
Accumulated Depreciation	$ (7,906)
Year Build / Year Renovated	1965, 2005 / 2003
Year Acquired	2002
300 South Lewis Road
Real Estate And Accumulated Depreciation [Line Items]
Location	Camarillo, CA
Land, Initial Cost	$ 4,150
Buildings and Improvements, Initial Cost	3,050
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	9,927
Land, Gross Amounts	4,150
Buildings and Improvements, Gross Amounts	12,977
Total, Gross	17,127
Accumulated Depreciation	$ (7,636)
Year Build / Year Renovated	1960-1963 / 2006
Year Acquired	2003
1400 South Shamrock Ave.
Real Estate And Accumulated Depreciation [Line Items]
Location	Monrovia, CA
Land, Initial Cost	$ 2,317
Buildings and Improvements, Initial Cost	2,534
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,036
Land, Gross Amounts	2,317
Buildings and Improvements, Gross Amounts	3,570
Total, Gross	5,887
Accumulated Depreciation	$ (2,508)
Year Build / Year Renovated	1957, 1962 / 2004
Year Acquired	2003
2220-2260 Camino del Sol
Real Estate And Accumulated Depreciation [Line Items]
Location	Oxnard, CA
Land, Initial Cost	$ 868
Buildings and Improvements, Initial Cost	0
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	4,909
Land, Gross Amounts	868
Buildings and Improvements, Gross Amounts	4,909
Total, Gross	5,777
Accumulated Depreciation	$ (2,122)
Year Build / Year Renovated	2005
Year Acquired	2003
14250-14278 Valley Blvd.
Real Estate And Accumulated Depreciation [Line Items]
Location	La Puente, CA
Land, Initial Cost	$ 2,539
Buildings and Improvements, Initial Cost	2,020
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	3,438
Land, Gross Amounts	2,539
Buildings and Improvements, Gross Amounts	5,458
Total, Gross	7,997
Accumulated Depreciation	$ (3,375)
Year Build / Year Renovated	1974 / 2007
Year Acquired	2003
2300-2386 East Walnut Ave.
Real Estate And Accumulated Depreciation [Line Items]
Location	Fullerton, CA
Land, Initial Cost	$ 6,817
Buildings and Improvements, Initial Cost	6,089
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	2,210
Land, Gross Amounts	6,817
Buildings and Improvements, Gross Amounts	8,299
Total, Gross	15,116
Accumulated Depreciation	$ (4,745)
Year Build / Year Renovated	1985-1986 / 2005
Year Acquired	2004
15140 & 15148 Bledsoe St., 13065 - 13081 Bradley Ave.
Real Estate And Accumulated Depreciation [Line Items]
Location	Sylmar, CA
Land, Initial Cost	$ 2,525
Buildings and Improvements, Initial Cost	3,380
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	7,064
Land, Gross Amounts	2,525
Buildings and Improvements, Gross Amounts	10,444
Total, Gross	12,969
Accumulated Depreciation	$ (5,263)
Year Build / Year Renovated	1969, 2008 / 2016
Year Acquired	2004
28340 - 28400 Avenue Crocker
Real Estate And Accumulated Depreciation [Line Items]
Location	Valencia, CA
Land, Initial Cost	$ 2,666
Buildings and Improvements, Initial Cost	3,343
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	3,839
Land, Gross Amounts	2,666
Buildings and Improvements, Gross Amounts	7,182
Total, Gross	9,848
Accumulated Depreciation	$ (3,981)
Year Build / Year Renovated	1987 / 2006 / 2015
Year Acquired	2004
21-29 West Easy St.
Real Estate And Accumulated Depreciation [Line Items]
Location	Simi Valley, CA
Land, Initial Cost	$ 2,346
Buildings and Improvements, Initial Cost	4,522
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	2,590
Land, Gross Amounts	2,346
Buildings and Improvements, Gross Amounts	7,112
Total, Gross	9,458
Accumulated Depreciation	$ (4,269)
Year Build / Year Renovated	1991 / 2006
Year Acquired	2004
10439-10477 Roselle St.
Real Estate And Accumulated Depreciation [Line Items]
Location	San Diego, CA
Land, Initial Cost	$ 4,711
Buildings and Improvements, Initial Cost	3,199
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	3,816
Land, Gross Amounts	4,711
Buildings and Improvements, Gross Amounts	7,015
Total, Gross	11,726
Accumulated Depreciation	$ (2,216)
Year Build / Year Renovated	1970 / 2007
Year Acquired	2013
2575 Pioneer Ave.
Real Estate And Accumulated Depreciation [Line Items]
Location	Vista, CA
Land, Initial Cost	$ 1,784
Buildings and Improvements, Initial Cost	2,974
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	2,140
Land, Gross Amounts	1,784
Buildings and Improvements, Gross Amounts	5,114
Total, Gross	6,898
Accumulated Depreciation	$ (2,984)
Year Build / Year Renovated	1988 / 2006
Year Acquired	2004
9641 - 9657 Santa Fe Springs Rd.
Real Estate And Accumulated Depreciation [Line Items]
Location	Santa Fe Springs, CA
Land, Initial Cost	$ 3,740
Buildings and Improvements, Initial Cost	260
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	7,060
Land, Gross Amounts	3,740
Buildings and Improvements, Gross Amounts	7,320
Total, Gross	11,060
Accumulated Depreciation	$ (2,894)
Year Build / Year Renovated	1982 / 2009
Year Acquired	2006
15715 Arrow Highway
Real Estate And Accumulated Depreciation [Line Items]
Location	Irwindale, CA
Land, Initial Cost	$ 3,604
Buildings and Improvements, Initial Cost	5,056
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	(85)
Land, Gross Amounts	3,604
Buildings and Improvements, Gross Amounts	4,971
Total, Gross	8,575
Accumulated Depreciation	$ (2,886)
Year Build / Year Renovated	1989
Year Acquired	2006
2431-2465 Impala Dr.
Real Estate And Accumulated Depreciation [Line Items]
Location	Carlsbad, CA
Land, Initial Cost	$ 5,470
Buildings and Improvements, Initial Cost	7,308
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	4,818
Land, Gross Amounts	5,470
Buildings and Improvements, Gross Amounts	12,126
Total, Gross	17,596
Accumulated Depreciation	$ (7,071)
Year Build / Year Renovated	1983 / 2006
Year Acquired	2006
6200 & 6300 Yarrow Dr.
Real Estate And Accumulated Depreciation [Line Items]
Location	Carlsbad, CA
Land, Initial Cost	$ 5,001
Buildings and Improvements, Initial Cost	7,658
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	3,972
Land, Gross Amounts	5,001
Buildings and Improvements, Gross Amounts	11,630
Total, Gross	16,631
Accumulated Depreciation	$ (7,230)
Year Build / Year Renovated	1977-1988 / 2006
Year Acquired	2005
6231 & 6241 Yarrow Dr.
Real Estate And Accumulated Depreciation [Line Items]
Location	Carlsbad, CA
Land, Initial Cost	$ 3,473
Buildings and Improvements, Initial Cost	5,119
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,269
Land, Gross Amounts	3,473
Buildings and Improvements, Gross Amounts	6,388
Total, Gross	9,861
Accumulated Depreciation	$ (3,907)
Year Build / Year Renovated	1977 / 2006
Year Acquired	2006
9160 - 9220 Cleveland Ave., 10860 6th St.
Real Estate And Accumulated Depreciation [Line Items]
Location	Rancho Cucamonga, CA
Land, Initial Cost	$ 3,647
Buildings and Improvements, Initial Cost	11,867
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	3,123
Land, Gross Amounts	3,647
Buildings and Improvements, Gross Amounts	14,990
Total, Gross	18,637
Accumulated Depreciation	$ (9,151)
Year Build / Year Renovated	1988-1989 / 2006
Year Acquired	2006
18118-18120 S. Broadway St.
Real Estate And Accumulated Depreciation [Line Items]
Location	Carson, CA
Land, Initial Cost	$ 3,013
Buildings and Improvements, Initial Cost	2,161
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,073
Land, Gross Amounts	3,013
Buildings and Improvements, Gross Amounts	3,234
Total, Gross	6,247
Accumulated Depreciation	$ (1,129)
Year Build / Year Renovated	1957 / 1989, 2017
Year Acquired	2013
901 W. Alameda Ave.
Real Estate And Accumulated Depreciation [Line Items]
Location	Burbank, CA
Land, Initial Cost	$ 6,304
Buildings and Improvements, Initial Cost	2,996
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	5,434
Land, Gross Amounts	6,304
Buildings and Improvements, Gross Amounts	8,430
Total, Gross	14,734
Accumulated Depreciation	$ (4,845)
Year Build / Year Renovated	1969 / 2009
Year Acquired	2007
1938-1946 E. 46th St.
Real Estate And Accumulated Depreciation [Line Items]
Location	Vernon, CA
Land, Initial Cost	$ 7,015
Buildings and Improvements, Initial Cost	7,078
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,802
Land, Gross Amounts	7,015
Buildings and Improvements, Gross Amounts	8,880
Total, Gross	15,895
Accumulated Depreciation	$ (4,596)
Year Build / Year Renovated	1961, 1983 / 2008-2010
Year Acquired	2007
9220-9268 Hall Rd.
Real Estate And Accumulated Depreciation [Line Items]
Location	Downey, CA
Land, Initial Cost	$ 6,974
Buildings and Improvements, Initial Cost	2,902
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	511
Land, Gross Amounts	6,974
Buildings and Improvements, Gross Amounts	3,413
Total, Gross	10,387
Accumulated Depreciation	$ (1,797)
Year Build / Year Renovated	2008
Year Acquired	2009
929, 935, 939 & 951 Poinsettia Ave.
Real Estate And Accumulated Depreciation [Line Items]
Location	Vista, CA
Land, Initial Cost	$ 4,213
Buildings and Improvements, Initial Cost	5,584
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	859
Land, Gross Amounts	2,678
Buildings and Improvements, Gross Amounts	4,587
Total, Gross	7,265
Accumulated Depreciation	$ (2,532)
Year Build / Year Renovated	1989 / 2007
Year Acquired	2008
3720-3750 W. Warner Ave.
Real Estate And Accumulated Depreciation [Line Items]
Location	Santa Ana, CA
Land, Initial Cost	$ 3,028
Buildings and Improvements, Initial Cost	1,058
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,081
Land, Gross Amounts	3,028
Buildings and Improvements, Gross Amounts	2,139
Total, Gross	5,167
Accumulated Depreciation	$ (1,200)
Year Build / Year Renovated	1973 / 2008
Year Acquired	2007
6750 Unit C - 6780 Central Ave.
Real Estate And Accumulated Depreciation [Line Items]
Location	Riverside, CA
Land, Initial Cost	$ 1,564
Buildings and Improvements, Initial Cost	584
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	677
Land, Gross Amounts	678
Buildings and Improvements, Gross Amounts	1,014
Total, Gross	1,692
Accumulated Depreciation	$ (633)
Year Build / Year Renovated	1978
Year Acquired	2007
1050 Arroyo Ave.
Real Estate And Accumulated Depreciation [Line Items]
Location	San Fernando, CA
Land, Initial Cost	$ 3,092
Buildings and Improvements, Initial Cost	1,900
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	753
Land, Gross Amounts	3,092
Buildings and Improvements, Gross Amounts	2,653
Total, Gross	5,745
Accumulated Depreciation	$ (921)
Year Build / Year Renovated	1969 / 2012
Year Acquired	2010
600-650 South Grand Ave.
Real Estate And Accumulated Depreciation [Line Items]
Location	Santa Ana, CA
Land, Initial Cost	$ 4,298
Buildings and Improvements, Initial Cost	5,075
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,845
Land, Gross Amounts	4,298
Buildings and Improvements, Gross Amounts	6,920
Total, Gross	11,218
Accumulated Depreciation	$ (2,525)
Year Build / Year Renovated	1988
Year Acquired	2010
121-125 N. Vinedo Ave.
Real Estate And Accumulated Depreciation [Line Items]
Location	Pasadena, CA
Land, Initial Cost	$ 3,481
Buildings and Improvements, Initial Cost	3,530
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	188
Land, Gross Amounts	3,481
Buildings and Improvements, Gross Amounts	3,718
Total, Gross	7,199
Accumulated Depreciation	$ (1,463)
Year Build / Year Renovated	1953 / 1993
Year Acquired	2011
3441 West MacArthur Blvd.
Real Estate And Accumulated Depreciation [Line Items]
Location	Santa Ana, CA
Land, Initial Cost	$ 4,179
Buildings and Improvements, Initial Cost	5,358
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	348
Land, Gross Amounts	4,179
Buildings and Improvements, Gross Amounts	5,706
Total, Gross	9,885
Accumulated Depreciation	$ (1,753)
Year Build / Year Renovated	1973
Year Acquired	2011
6701 & 6711 Odessa Ave.
Real Estate And Accumulated Depreciation [Line Items]
Location	Van Nuys, CA
Land, Initial Cost	$ 1,582
Buildings and Improvements, Initial Cost	1,856
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	184
Land, Gross Amounts	1,582
Buildings and Improvements, Gross Amounts	2,040
Total, Gross	3,622
Accumulated Depreciation	$ (649)
Year Build / Year Renovated	1970-1972 / 2012
Year Acquired	2011
10700 Jersey Blvd.
Real Estate And Accumulated Depreciation [Line Items]
Location	Rancho Cucamonga, CA
Land, Initial Cost	$ 3,158
Buildings and Improvements, Initial Cost	4,860
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,257
Land, Gross Amounts	3,158
Buildings and Improvements, Gross Amounts	6,117
Total, Gross	9,275
Accumulated Depreciation	$ (2,312)
Year Build / Year Renovated	1988-1989
Year Acquired	2011
15705, 15709 Arrow Highway & 5220 Fourth St.
Real Estate And Accumulated Depreciation [Line Items]
Location	Irwindale, CA
Land, Initial Cost	$ 3,608
Buildings and Improvements, Initial Cost	2,699
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	694
Land, Gross Amounts	3,608
Buildings and Improvements, Gross Amounts	3,393
Total, Gross	7,001
Accumulated Depreciation	$ (1,248)
Year Build / Year Renovated	1987
Year Acquired	2011
20920-20950 Normandie Ave.
Real Estate And Accumulated Depreciation [Line Items]
Location	Torrance, CA
Land, Initial Cost	$ 3,253
Buildings and Improvements, Initial Cost	1,605
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	720
Land, Gross Amounts	3,253
Buildings and Improvements, Gross Amounts	2,325
Total, Gross	5,578
Accumulated Depreciation	$ (905)
Year Build / Year Renovated	1989
Year Acquired	2011
14944, 14946, 14948 Shoemaker Ave.
Real Estate And Accumulated Depreciation [Line Items]
Location	Santa Fe Springs, CA
Land, Initial Cost	$ 3,720
Buildings and Improvements, Initial Cost	2,641
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	716
Land, Gross Amounts	3,720
Buildings and Improvements, Gross Amounts	3,357
Total, Gross	7,077
Accumulated Depreciation	$ (1,243)
Year Build / Year Renovated	1978 / 2012
Year Acquired	2011
6423-6431 & 6407-6119 Alondra Blvd.
Real Estate And Accumulated Depreciation [Line Items]
Location	Paramount, CA
Land, Initial Cost	$ 1,396
Buildings and Improvements, Initial Cost	925
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	193
Land, Gross Amounts	1,396
Buildings and Improvements, Gross Amounts	1,118
Total, Gross	2,514
Accumulated Depreciation	$ (385)
Year Build / Year Renovated	1986
Year Acquired	2011
1400 S. Campus Ave.
Real Estate And Accumulated Depreciation [Line Items]
Location	Ontario, CA
Land, Initial Cost	$ 3,266
Buildings and Improvements, Initial Cost	2,961
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	2
Land, Gross Amounts	3,266
Buildings and Improvements, Gross Amounts	2,963
Total, Gross	6,229
Accumulated Depreciation	$ (1,678)
Year Build / Year Renovated	1964-1966, 1973, 1987
Year Acquired	2012
15041 Calvert St.
Real Estate And Accumulated Depreciation [Line Items]
Location	Van Nuys, CA
Land, Initial Cost	$ 4,096
Buildings and Improvements, Initial Cost	1,570
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	272
Land, Gross Amounts	4,096
Buildings and Improvements, Gross Amounts	1,842
Total, Gross	5,938
Accumulated Depreciation	$ (564)
Year Build / Year Renovated	1971
Year Acquired	2012
701 Del Norte Blvd.
Real Estate And Accumulated Depreciation [Line Items]
Location	Oxnard, CA
Land, Initial Cost	$ 3,082
Buildings and Improvements, Initial Cost	6,230
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,115
Land, Gross Amounts	3,082
Buildings and Improvements, Gross Amounts	7,345
Total, Gross	10,427
Accumulated Depreciation	$ (2,541)
Year Build / Year Renovated	2000
Year Acquired	2012
3350 Tyburn St., 3332, 3334, 3360, 3368, 3370, 3378, 3380, 3410, 3424 N. San Fernando Rd.
Real Estate And Accumulated Depreciation [Line Items]
Location	Los Angeles, CA
Land, Initial Cost	$ 17,978
Buildings and Improvements, Initial Cost	39,471
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	3,715
Land, Gross Amounts	17,978
Buildings and Improvements, Gross Amounts	43,186
Total, Gross	61,164
Accumulated Depreciation	$ (14,149)
Year Build / Year Renovated	1966, 1992, 1993, 1994
Year Acquired	2013
1661 240th St.
Real Estate And Accumulated Depreciation [Line Items]
Location	Los Angeles, CA
Land, Initial Cost	$ 3,043
Buildings and Improvements, Initial Cost	2,550
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	3,884
Land, Gross Amounts	3,043
Buildings and Improvements, Gross Amounts	6,434
Total, Gross	9,477
Accumulated Depreciation	$ (2,324)
Year Build / Year Renovated	1975 / 1995
Year Acquired	2013
8101-8117 Orion Ave.
Real Estate And Accumulated Depreciation [Line Items]
Location	Van Nuys, CA
Land, Initial Cost	$ 1,389
Buildings and Improvements, Initial Cost	3,872
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	672
Land, Gross Amounts	1,389
Buildings and Improvements, Gross Amounts	4,544
Total, Gross	5,933
Accumulated Depreciation	$ (1,584)
Year Build / Year Renovated	1978
Year Acquired	2013
18310-18330 Oxnard St.
Real Estate And Accumulated Depreciation [Line Items]
Location	Tarzana, CA
Land, Initial Cost	$ 2,497
Buildings and Improvements, Initial Cost	5,494
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,531
Land, Gross Amounts	2,497
Buildings and Improvements, Gross Amounts	7,025
Total, Gross	9,522
Accumulated Depreciation	$ (2,321)
Year Build / Year Renovated	1973
Year Acquired	2013
1100-1170 Gilbert St. & 2353-2373 La Palma Ave.
Real Estate And Accumulated Depreciation [Line Items]
Location	Anaheim, CA
Encumbrances	$ 2,119
Land, Initial Cost	4,582
Buildings and Improvements, Initial Cost	5,135
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	2,634
Land, Gross Amounts	4,582
Buildings and Improvements, Gross Amounts	7,769
Total, Gross	12,351
Accumulated Depreciation	$ (2,594)
Year Build / Year Renovated	1972 / 1990 / 2013
Year Acquired	2013
280 Bonita Ave., 2743 Thompson Creek Rd.
Real Estate And Accumulated Depreciation [Line Items]
Location	Pomona, CA
Land, Initial Cost	$ 8,001
Buildings and Improvements, Initial Cost	17,734
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	110
Land, Gross Amounts	8,001
Buildings and Improvements, Gross Amounts	17,844
Total, Gross	25,845
Accumulated Depreciation	$ (5,319)
Year Build / Year Renovated	1983
Year Acquired	2013
2950 Madera Rd.
Real Estate And Accumulated Depreciation [Line Items]
Location	Simi Valley, CA
Land, Initial Cost	$ 3,601
Buildings and Improvements, Initial Cost	8,033
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	2
Land, Gross Amounts	3,601
Buildings and Improvements, Gross Amounts	8,035
Total, Gross	11,636
Accumulated Depreciation	$ (2,441)
Year Build / Year Renovated	1988 / 2005
Year Acquired	2013
10635 Vanowen St.
Real Estate And Accumulated Depreciation [Line Items]
Location	Burbank, CA
Land, Initial Cost	$ 1,517
Buildings and Improvements, Initial Cost	1,833
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,277
Land, Gross Amounts	1,517
Buildings and Improvements, Gross Amounts	3,110
Total, Gross	4,627
Accumulated Depreciation	$ (1,032)
Year Build / Year Renovated	1977
Year Acquired	2013
7110 Rosecrans Ave.
Real Estate And Accumulated Depreciation [Line Items]
Location	Paramount, CA
Land, Initial Cost	$ 3,117
Buildings and Improvements, Initial Cost	1,894
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	2,383
Land, Gross Amounts	3,117
Buildings and Improvements, Gross Amounts	4,277
Total, Gross	7,394
Accumulated Depreciation	$ (1,032)
Year Build / Year Renovated	1972 / 2015, 2019
Year Acquired	2014
845, 855, 865 S Milliken Ave & 4317, 4319 Santa Ana St.
Real Estate And Accumulated Depreciation [Line Items]
Location	Ontario, CA
Land, Initial Cost	$ 2,260
Buildings and Improvements, Initial Cost	6,043
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	757
Land, Gross Amounts	2,260
Buildings and Improvements, Gross Amounts	6,800
Total, Gross	9,060
Accumulated Depreciation	$ (2,420)
Year Build / Year Renovated	1985
Year Acquired	2014
1500-1510 W. 228th St.
Real Estate And Accumulated Depreciation [Line Items]
Location	Torrance, CA
Land, Initial Cost	$ 2,428
Buildings and Improvements, Initial Cost	4,271
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	5,989
Land, Gross Amounts	2,428
Buildings and Improvements, Gross Amounts	10,260
Total, Gross	12,688
Accumulated Depreciation	$ (2,141)
Year Build / Year Renovated	1963 / 1968, 2017
Year Acquired	2014
24105 Frampton Ave.
Real Estate And Accumulated Depreciation [Line Items]
Location	Torrance, CA
Land, Initial Cost	$ 2,315
Buildings and Improvements, Initial Cost	1,553
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	2,071
Land, Gross Amounts	2,315
Buildings and Improvements, Gross Amounts	3,624
Total, Gross	5,939
Accumulated Depreciation	$ (971)
Year Build / Year Renovated	1974 / 2016
Year Acquired	2014
1700 Saturn Way
Real Estate And Accumulated Depreciation [Line Items]
Location	Seal Beach, CA
Land, Initial Cost	$ 7,935
Buildings and Improvements, Initial Cost	10,525
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	342
Land, Gross Amounts	7,935
Buildings and Improvements, Gross Amounts	10,867
Total, Gross	18,802
Accumulated Depreciation	$ (3,204)
Year Build / Year Renovated	2006
Year Acquired	2014
2980 & 2990 N San Fernando Road
Real Estate And Accumulated Depreciation [Line Items]
Location	Burbank, CA
Land, Initial Cost	$ 6,373
Buildings and Improvements, Initial Cost	7,356
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	550
Land, Gross Amounts	6,373
Buildings and Improvements, Gross Amounts	7,906
Total, Gross	14,279
Accumulated Depreciation	$ (2,613)
Year Build / Year Renovated	1950 / 2004
Year Acquired	2014
20531 Crescent Bay Dr.
Real Estate And Accumulated Depreciation [Line Items]
Location	Lake Forest, CA
Land, Initial Cost	$ 2,181
Buildings and Improvements, Initial Cost	4,012
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	417
Land, Gross Amounts	2,181
Buildings and Improvements, Gross Amounts	4,429
Total, Gross	6,610
Accumulated Depreciation	$ (1,421)
Year Build / Year Renovated	1998
Year Acquired	2014
2610 & 2701 S. Birch Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Santa Ana, CA
Land, Initial Cost	$ 9,305
Buildings and Improvements, Initial Cost	2,115
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	4,440
Land, Gross Amounts	9,305
Buildings and Improvements, Gross Amounts	6,555
Total, Gross	15,860
Accumulated Depreciation	$ (1,884)
Year Build / Year Renovated	1965 / 2016
Year Acquired	2014
710 South Dupont Avenue & 4051 Santa Ana Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Ontario, CA
Land, Initial Cost	$ 3,725
Buildings and Improvements, Initial Cost	6,145
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	288
Land, Gross Amounts	3,725
Buildings and Improvements, Gross Amounts	6,433
Total, Gross	10,158
Accumulated Depreciation	$ (2,097)
Year Build / Year Renovated	2001
Year Acquired	2014
9755 Distribution Ave.
Real Estate And Accumulated Depreciation [Line Items]
Location	San Diego, CA
Land, Initial Cost	$ 1,863
Buildings and Improvements, Initial Cost	3,211
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	(10)
Land, Gross Amounts	1,863
Buildings and Improvements, Gross Amounts	3,201
Total, Gross	5,064
Accumulated Depreciation	$ (999)
Year Build / Year Renovated	1974
Year Acquired	2014
9855 Distribution Ave
Real Estate And Accumulated Depreciation [Line Items]
Location	San Diego, CA
Land, Initial Cost	$ 2,733
Buildings and Improvements, Initial Cost	5,041
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	208
Land, Gross Amounts	2,733
Buildings and Improvements, Gross Amounts	5,249
Total, Gross	7,982
Accumulated Depreciation	$ (1,596)
Year Build / Year Renovated	1983
Year Acquired	2014
9340 Cabot Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	San Diego, CA
Land, Initial Cost	$ 4,311
Buildings and Improvements, Initial Cost	6,126
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,054
Land, Gross Amounts	4,311
Buildings and Improvements, Gross Amounts	7,180
Total, Gross	11,491
Accumulated Depreciation	$ (2,156)
Year Build / Year Renovated	1975 / 1976
Year Acquired	2014
9404 Cabot Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	San Diego, CA
Land, Initial Cost	$ 2,413
Buildings and Improvements, Initial Cost	3,451
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	242
Land, Gross Amounts	2,413
Buildings and Improvements, Gross Amounts	3,693
Total, Gross	6,106
Accumulated Depreciation	$ (1,100)
Year Build / Year Renovated	1975 / 1976
Year Acquired	2014
9455 Cabot Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	San Diego, CA
Land, Initial Cost	$ 4,423
Buildings and Improvements, Initial Cost	6,799
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	600
Land, Gross Amounts	4,423
Buildings and Improvements, Gross Amounts	7,399
Total, Gross	11,822
Accumulated Depreciation	$ (2,418)
Year Build / Year Renovated	1975 / 1976
Year Acquired	2014
14955-14971 E Salt Lake Ave
Real Estate And Accumulated Depreciation [Line Items]
Location	City of Industry, CA
Land, Initial Cost	$ 5,125
Buildings and Improvements, Initial Cost	5,009
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,275
Land, Gross Amounts	5,125
Buildings and Improvements, Gross Amounts	6,284
Total, Gross	11,409
Accumulated Depreciation	$ (1,932)
Year Build / Year Renovated	1979
Year Acquired	2014
5235 East Hunter Ave.
Real Estate And Accumulated Depreciation [Line Items]
Location	Anaheim, CA
Land, Initial Cost	$ 5,240
Buildings and Improvements, Initial Cost	5,065
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,755
Land, Gross Amounts	5,240
Buildings and Improvements, Gross Amounts	6,820
Total, Gross	12,060
Accumulated Depreciation	$ (2,239)
Year Build / Year Renovated	1987
Year Acquired	2014
3880 West Valley Blvd.
Real Estate And Accumulated Depreciation [Line Items]
Location	Pomona, CA
Land, Initial Cost	$ 3,982
Buildings and Improvements, Initial Cost	4,796
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	3,599
Land, Gross Amounts	3,982
Buildings and Improvements, Gross Amounts	8,395
Total, Gross	12,377
Accumulated Depreciation	$ (2,438)
Year Build / Year Renovated	1980 / 2017
Year Acquired	2014
1601 Alton Pkwy.
Real Estate And Accumulated Depreciation [Line Items]
Location	Irvine, CA
Land, Initial Cost	$ 7,638
Buildings and Improvements, Initial Cost	4,946
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	8,505
Land, Gross Amounts	7,638
Buildings and Improvements, Gross Amounts	13,451
Total, Gross	21,089
Accumulated Depreciation	$ (3,040)
Year Build / Year Renovated	1974 / 2018
Year Acquired	2014
3116 W. Avenue 32
Real Estate And Accumulated Depreciation [Line Items]
Location	Los Angeles, CA
Land, Initial Cost	$ 3,761
Buildings and Improvements, Initial Cost	6,729
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	3,472
Land, Gross Amounts	3,761
Buildings and Improvements, Gross Amounts	10,201
Total, Gross	13,962
Accumulated Depreciation	$ (2,556)
Year Build / Year Renovated	1974
Year Acquired	2014
21040 Nordoff Street; 9035 Independence Avenue; 21019 - 21045 Osborne Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Chatsworth, CA
Land, Initial Cost	$ 7,230
Buildings and Improvements, Initial Cost	9,058
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	2,418
Land, Gross Amounts	7,230
Buildings and Improvements, Gross Amounts	11,476
Total, Gross	18,706
Accumulated Depreciation	$ (3,603)
Year Build / Year Renovated	1979 / 1980
Year Acquired	2014
24935 & 24955 Avenue Kearny
Real Estate And Accumulated Depreciation [Line Items]
Location	Santa Clarita, CA
Land, Initial Cost	$ 4,773
Buildings and Improvements, Initial Cost	5,970
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	844
Land, Gross Amounts	4,773
Buildings and Improvements, Gross Amounts	6,814
Total, Gross	11,587
Accumulated Depreciation	$ (2,195)
Year Build / Year Renovated	1988
Year Acquired	2014
605 8th Street
Real Estate And Accumulated Depreciation [Line Items]
Location	San Fernando, CA
Land, Initial Cost	$ 2,393
Buildings and Improvements, Initial Cost	2,742
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,744
Land, Gross Amounts	2,393
Buildings and Improvements, Gross Amounts	4,486
Total, Gross	6,879
Accumulated Depreciation	$ (1,178)
Year Build / Year Renovated	1991 / 2015, 2020
Year Acquired	2014
9120 Mason Ave.
Real Estate And Accumulated Depreciation [Line Items]
Location	Chatsworth, CA
Land, Initial Cost	$ 9,224
Buildings and Improvements, Initial Cost	19,346
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	815
Land, Gross Amounts	9,224
Buildings and Improvements, Gross Amounts	20,161
Total, Gross	29,385
Accumulated Depreciation	$ (5,421)
Year Build / Year Renovated	1967 / 1999
Year Acquired	2014
7900 Nelson Rd.
Real Estate And Accumulated Depreciation [Line Items]
Location	Los Angeles, CA
Land, Initial Cost	$ 8,495
Buildings and Improvements, Initial Cost	15,948
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	2,597
Land, Gross Amounts	8,495
Buildings and Improvements, Gross Amounts	18,545
Total, Gross	27,040
Accumulated Depreciation	$ (4,855)
Year Build / Year Renovated	1998 / 2015
Year Acquired	2014
679-691 S Anderson St.
Real Estate And Accumulated Depreciation [Line Items]
Location	Los Angeles, CA
Land, Initial Cost	$ 1,723
Buildings and Improvements, Initial Cost	4,767
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,613
Land, Gross Amounts	1,723
Buildings and Improvements, Gross Amounts	6,380
Total, Gross	8,103
Accumulated Depreciation	$ (1,521)
Year Build / Year Renovated	1992 / 2017
Year Acquired	2014
10509 Business Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	Fontana, CA
Land, Initial Cost	$ 3,505
Buildings and Improvements, Initial Cost	5,237
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,319
Land, Gross Amounts	3,505
Buildings and Improvements, Gross Amounts	6,556
Total, Gross	10,061
Accumulated Depreciation	$ (1,872)
Year Build / Year Renovated	1989
Year Acquired	2014
13231 Slover Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Fontana, CA
Land, Initial Cost	$ 2,812
Buildings and Improvements, Initial Cost	4,739
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	743
Land, Gross Amounts	2,812
Buildings and Improvements, Gross Amounts	5,482
Total, Gross	8,294
Accumulated Depreciation	$ (1,564)
Year Build / Year Renovated	1990
Year Acquired	2014
240 W Ivy Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Inglewood, CA
Land, Initial Cost	$ 2,064
Buildings and Improvements, Initial Cost	3,675
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	4,223
Land, Gross Amounts	2,064
Buildings and Improvements, Gross Amounts	7,898
Total, Gross	9,962
Accumulated Depreciation	$ (1,724)
Year Build / Year Renovated	1981
Year Acquired	2014
3000 Paseo Mercado, 3120-3150 Paseo Mercado
Real Estate And Accumulated Depreciation [Line Items]
Location	Oxnard, CA
Land, Initial Cost	$ 2,616
Buildings and Improvements, Initial Cost	8,311
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,452
Land, Gross Amounts	2,616
Buildings and Improvements, Gross Amounts	9,763
Total, Gross	12,379
Accumulated Depreciation	$ (2,981)
Year Build / Year Renovated	1988
Year Acquired	2014
1800 Eastman Ave.
Real Estate And Accumulated Depreciation [Line Items]
Location	Oxnard, CA
Land, Initial Cost	$ 842
Buildings and Improvements, Initial Cost	2,209
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	81
Land, Gross Amounts	842
Buildings and Improvements, Gross Amounts	2,290
Total, Gross	3,132
Accumulated Depreciation	$ (746)
Year Build / Year Renovated	2009
Year Acquired	2014
2360-2364 E. Sturgis Road
Real Estate And Accumulated Depreciation [Line Items]
Location	Oxnard, CA
Land, Initial Cost	$ 1,128
Buildings and Improvements, Initial Cost	2,726
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	540
Land, Gross Amounts	1,128
Buildings and Improvements, Gross Amounts	3,266
Total, Gross	4,394
Accumulated Depreciation	$ (1,151)
Year Build / Year Renovated	1989
Year Acquired	2014
201 Rice Ave. & 2400-2420 Celsius
Real Estate And Accumulated Depreciation [Line Items]
Location	Oxnard, CA
Land, Initial Cost	$ 3,487
Buildings and Improvements, Initial Cost	9,589
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	685
Land, Gross Amounts	3,487
Buildings and Improvements, Gross Amounts	10,274
Total, Gross	13,761
Accumulated Depreciation	$ (3,007)
Year Build / Year Renovated	2008
Year Acquired	2014
11120, 11160, 11200 Hindry Ave
Real Estate And Accumulated Depreciation [Line Items]
Location	Los Angeles, CA
Land, Initial Cost	$ 3,478
Buildings and Improvements, Initial Cost	7,834
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	521
Land, Gross Amounts	3,478
Buildings and Improvements, Gross Amounts	8,355
Total, Gross	11,833
Accumulated Depreciation	$ (2,363)
Year Build / Year Renovated	1992 / 1994
Year Acquired	2014
6970-7170 & 7310-7374 Convoy Ct.
Real Estate And Accumulated Depreciation [Line Items]
Location	San Diego, CA
Land, Initial Cost	$ 10,805
Buildings and Improvements, Initial Cost	18,426
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	2,938
Land, Gross Amounts	10,805
Buildings and Improvements, Gross Amounts	21,364
Total, Gross	32,169
Accumulated Depreciation	$ (6,339)
Year Build / Year Renovated	1971
Year Acquired	2014
12907 Imperial Highway
Real Estate And Accumulated Depreciation [Line Items]
Location	Santa Fe Springs, CA
Land, Initial Cost	$ 5,462
Buildings and Improvements, Initial Cost	6,678
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	5,462
Buildings and Improvements, Gross Amounts	6,678
Total, Gross	12,140
Accumulated Depreciation	$ (1,803)
Year Build / Year Renovated	1997
Year Acquired	2015
8902-8940 Activity Road
Real Estate And Accumulated Depreciation [Line Items]
Location	San Diego, CA
Land, Initial Cost	$ 9,427
Buildings and Improvements, Initial Cost	8,103
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	2,069
Land, Gross Amounts	9,427
Buildings and Improvements, Gross Amounts	10,172
Total, Gross	19,599
Accumulated Depreciation	$ (3,049)
Year Build / Year Renovated	1987 / 1997
Year Acquired	2015
1210 N Red Gum St.
Real Estate And Accumulated Depreciation [Line Items]
Location	Anaheim, CA
Land, Initial Cost	$ 3,326
Buildings and Improvements, Initial Cost	4,020
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,455
Land, Gross Amounts	3,326
Buildings and Improvements, Gross Amounts	5,475
Total, Gross	8,801
Accumulated Depreciation	$ (1,367)
Year Build / Year Renovated	1985 / 2020
Year Acquired	2015
9615 Norwalk Blvd.
Real Estate And Accumulated Depreciation [Line Items]
Location	Santa Fe Springs, CA
Land, Initial Cost	$ 8,508
Buildings and Improvements, Initial Cost	1,134
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	5,058
Land, Gross Amounts	8,508
Buildings and Improvements, Gross Amounts	6,192
Total, Gross	14,700
Accumulated Depreciation	$ (324)
Year Build / Year Renovated	1975
Year Acquired	2015
16221 Arthur St.
Real Estate And Accumulated Depreciation [Line Items]
Location	Cerritos, CA
Land, Initial Cost	$ 2,979
Buildings and Improvements, Initial Cost	3,204
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,814
Land, Gross Amounts	2,979
Buildings and Improvements, Gross Amounts	5,018
Total, Gross	7,997
Accumulated Depreciation	$ (950)
Year Build / Year Renovated	1979 / 2021
Year Acquired	2015
2588 & 2605 Industry Way
Real Estate And Accumulated Depreciation [Line Items]
Location	Lynwood, CA
Land, Initial Cost	$ 8,738
Buildings and Improvements, Initial Cost	9,415
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	8,738
Buildings and Improvements, Gross Amounts	9,415
Total, Gross	18,153
Accumulated Depreciation	$ (2,698)
Year Build / Year Renovated	1969 / 1971
Year Acquired	2015
425 S. Hacienda Blvd.
Real Estate And Accumulated Depreciation [Line Items]
Location	City of Industry, CA
Land, Initial Cost	$ 4,010
Buildings and Improvements, Initial Cost	3,050
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	117
Land, Gross Amounts	4,010
Buildings and Improvements, Gross Amounts	3,167
Total, Gross	7,177
Accumulated Depreciation	$ (924)
Year Build / Year Renovated	1997
Year Acquired	2015
6700 S Alameda St.
Real Estate And Accumulated Depreciation [Line Items]
Location	Huntington Park, CA
Land, Initial Cost	$ 3,502
Buildings and Improvements, Initial Cost	9,279
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	263
Land, Gross Amounts	3,502
Buildings and Improvements, Gross Amounts	9,542
Total, Gross	13,044
Accumulated Depreciation	$ (2,995)
Year Build / Year Renovated	1990 / 2008
Year Acquired	2015
12720-12860 Danielson Ct.
Real Estate And Accumulated Depreciation [Line Items]
Location	Poway, CA
Land, Initial Cost	$ 6,902
Buildings and Improvements, Initial Cost	8,949
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	733
Land, Gross Amounts	6,902
Buildings and Improvements, Gross Amounts	9,682
Total, Gross	16,584
Accumulated Depreciation	$ (3,282)
Year Build / Year Renovated	1999
Year Acquired	2015
10950 Norwalk Blvd & 12241 Lakeland Rd.
Real Estate And Accumulated Depreciation [Line Items]
Location	Santa Fe Springs, CA
Land, Initial Cost	$ 3,446
Buildings and Improvements, Initial Cost	1,241
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	265
Land, Gross Amounts	3,446
Buildings and Improvements, Gross Amounts	1,506
Total, Gross	4,952
Accumulated Depreciation	$ (524)
Year Build / Year Renovated	1982
Year Acquired	2015
610-760 W Hueneme Rd. & 5651-5721 Perkins Rd.
Real Estate And Accumulated Depreciation [Line Items]
Location	Oxnard, CA
Land, Initial Cost	$ 3,310
Buildings and Improvements, Initial Cost	5,806
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,282
Land, Gross Amounts	3,310
Buildings and Improvements, Gross Amounts	7,088
Total, Gross	10,398
Accumulated Depreciation	$ (2,412)
Year Build / Year Renovated	1985
Year Acquired	2015
10701-10719 Norwalk Blvd.
Real Estate And Accumulated Depreciation [Line Items]
Location	Santa Fe Springs, CA
Land, Initial Cost	$ 3,357
Buildings and Improvements, Initial Cost	3,527
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	190
Land, Gross Amounts	3,357
Buildings and Improvements, Gross Amounts	3,717
Total, Gross	7,074
Accumulated Depreciation	$ (1,036)
Year Build / Year Renovated	2004
Year Acquired	2015
6020 Sheila St.
Real Estate And Accumulated Depreciation [Line Items]
Location	Commerce, CA
Land, Initial Cost	$ 4,590
Buildings and Improvements, Initial Cost	7,772
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	583
Land, Gross Amounts	4,590
Buildings and Improvements, Gross Amounts	8,355
Total, Gross	12,945
Accumulated Depreciation	$ (2,156)
Year Build / Year Renovated	2000
Year Acquired	2015
9805 6th St.
Real Estate And Accumulated Depreciation [Line Items]
Location	Rancho Cucamonga, CA
Land, Initial Cost	$ 3,503
Buildings and Improvements, Initial Cost	3,204
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	995
Land, Gross Amounts	3,503
Buildings and Improvements, Gross Amounts	4,199
Total, Gross	7,702
Accumulated Depreciation	$ (1,402)
Year Build / Year Renovated	1986
Year Acquired	2015
16321 Arrow Hwy.
Real Estate And Accumulated Depreciation [Line Items]
Location	Irwindale, CA
Land, Initial Cost	$ 3,087
Buildings and Improvements, Initial Cost	4,081
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	453
Land, Gross Amounts	3,087
Buildings and Improvements, Gross Amounts	4,534
Total, Gross	7,621
Accumulated Depreciation	$ (1,159)
Year Build / Year Renovated	1955 / 2001
Year Acquired	2015
601-605 S. Milliken Ave.
Real Estate And Accumulated Depreciation [Line Items]
Location	Ontario, CA
Land, Initial Cost	$ 5,479
Buildings and Improvements, Initial Cost	7,036
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,178
Land, Gross Amounts	5,479
Buildings and Improvements, Gross Amounts	8,214
Total, Gross	13,693
Accumulated Depreciation	$ (2,514)
Year Build / Year Renovated	1987 / 1988
Year Acquired	2015
1065 E. Walnut Ave.
Real Estate And Accumulated Depreciation [Line Items]
Location	Carson, CA
Land, Initial Cost	$ 10,038
Buildings and Improvements, Initial Cost	4,380
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	3,600
Land, Gross Amounts	10,038
Buildings and Improvements, Gross Amounts	7,980
Total, Gross	18,018
Accumulated Depreciation	$ (2,532)
Year Build / Year Renovated	1974
Year Acquired	2015
12247 Lakeland Rd.
Real Estate And Accumulated Depreciation [Line Items]
Location	Santa Fe Springs, CA
Land, Initial Cost	$ 3,481
Buildings and Improvements, Initial Cost	776
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,168
Land, Gross Amounts	3,481
Buildings and Improvements, Gross Amounts	1,944
Total, Gross	5,425
Accumulated Depreciation	$ (485)
Year Build / Year Renovated	1971 / 2016
Year Acquired	2015
17311 Nichols Lane
Real Estate And Accumulated Depreciation [Line Items]
Location	Huntington Beach, CA
Land, Initial Cost	$ 7,988
Buildings and Improvements, Initial Cost	8,728
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	3
Land, Gross Amounts	7,988
Buildings and Improvements, Gross Amounts	8,731
Total, Gross	16,719
Accumulated Depreciation	$ (2,280)
Year Build / Year Renovated	1993 / 2014
Year Acquired	2015
8525 Camino Santa Fe
Real Estate And Accumulated Depreciation [Line Items]
Location	San Diego, CA
Land, Initial Cost	$ 4,038
Buildings and Improvements, Initial Cost	4,055
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	827
Land, Gross Amounts	4,038
Buildings and Improvements, Gross Amounts	4,882
Total, Gross	8,920
Accumulated Depreciation	$ (1,408)
Year Build / Year Renovated	1986
Year Acquired	2016
28454 Livingston Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Valencia, CA
Land, Initial Cost	$ 5,150
Buildings and Improvements, Initial Cost	9,666
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	425
Land, Gross Amounts	5,150
Buildings and Improvements, Gross Amounts	10,091
Total, Gross	15,241
Accumulated Depreciation	$ (2,451)
Year Build / Year Renovated	2007
Year Acquired	2016
20 Icon
Real Estate And Accumulated Depreciation [Line Items]
Location	Lake Forest, CA
Land, Initial Cost	$ 12,576
Buildings and Improvements, Initial Cost	8,817
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	170
Land, Gross Amounts	12,576
Buildings and Improvements, Gross Amounts	8,987
Total, Gross	21,563
Accumulated Depreciation	$ (3,106)
Year Build / Year Renovated	1999 / 2015
Year Acquired	2016
16425 Gale Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	City of Industry, CA
Land, Initial Cost	$ 18,803
Buildings and Improvements, Initial Cost	6,029
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,271
Land, Gross Amounts	18,803
Buildings and Improvements, Gross Amounts	7,300
Total, Gross	26,103
Accumulated Depreciation	$ (1,730)
Year Build / Year Renovated	1976
Year Acquired	2016
12131 Western Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Garden Grove, CA
Land, Initial Cost	$ 15,077
Buildings and Improvements, Initial Cost	11,149
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	4,861
Land, Gross Amounts	15,077
Buildings and Improvements, Gross Amounts	16,010
Total, Gross	31,087
Accumulated Depreciation	$ (3,594)
Year Build / Year Renovated	1987 / 2007, 2017
Year Acquired	2016
9 Holland
Real Estate And Accumulated Depreciation [Line Items]
Location	Irvine, CA
Land, Initial Cost	$ 13,724
Buildings and Improvements, Initial Cost	9,365
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	226
Land, Gross Amounts	13,724
Buildings and Improvements, Gross Amounts	9,591
Total, Gross	23,315
Accumulated Depreciation	$ (2,524)
Year Build / Year Renovated	1980 / 2013
Year Acquired	2016
15996 Jurupa Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Fontana, CA
Land, Initial Cost	$ 7,855
Buildings and Improvements, Initial Cost	12,056
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	19
Land, Gross Amounts	7,855
Buildings and Improvements, Gross Amounts	12,075
Total, Gross	19,930
Accumulated Depreciation	$ (2,879)
Year Build / Year Renovated	2015
Year Acquired	2016
11127 Catawba Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Fontana, CA
Land, Initial Cost	$ 5,562
Buildings and Improvements, Initial Cost	8,094
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	4
Land, Gross Amounts	5,562
Buildings and Improvements, Gross Amounts	8,098
Total, Gross	13,660
Accumulated Depreciation	$ (1,942)
Year Build / Year Renovated	2015
Year Acquired	2016
13550 Stowe Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	Poway, CA
Land, Initial Cost	$ 9,126
Buildings and Improvements, Initial Cost	8,043
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	9,126
Buildings and Improvements, Gross Amounts	8,043
Total, Gross	17,169
Accumulated Depreciation	$ (2,245)
Year Build / Year Renovated	1991
Year Acquired	2016
10750-10826 Lower Azusa Road
Real Estate And Accumulated Depreciation [Line Items]
Location	El Monte, CA
Land, Initial Cost	$ 4,433
Buildings and Improvements, Initial Cost	2,961
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,193
Land, Gross Amounts	4,433
Buildings and Improvements, Gross Amounts	4,154
Total, Gross	8,587
Accumulated Depreciation	$ (1,153)
Year Build / Year Renovated	1975
Year Acquired	2016
525 Park Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	San Fernando, CA
Land, Initial Cost	$ 3,830
Buildings and Improvements, Initial Cost	3,887
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	173
Land, Gross Amounts	3,830
Buildings and Improvements, Gross Amounts	4,060
Total, Gross	7,890
Accumulated Depreciation	$ (1,020)
Year Build / Year Renovated	2003
Year Acquired	2016
3233 Mission Oaks Blvd.
Real Estate And Accumulated Depreciation [Line Items]
Location	Camarillo, CA
Land, Initial Cost	$ 13,791
Buildings and Improvements, Initial Cost	10,017
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	14,608
Land, Gross Amounts	13,791
Buildings and Improvements, Gross Amounts	24,625
Total, Gross	38,416
Accumulated Depreciation	$ (4,858)
Year Build / Year Renovated	1980-1982 / 2014, 2018, 2019
Year Acquired	2016
1600 Orangethorpe Ave. & 1335-1375 Acacia Ave.
Real Estate And Accumulated Depreciation [Line Items]
Location	Fullerton, CA
Land, Initial Cost	$ 26,659
Buildings and Improvements, Initial Cost	12,673
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	4,001
Land, Gross Amounts	26,659
Buildings and Improvements, Gross Amounts	16,674
Total, Gross	43,333
Accumulated Depreciation	$ (4,761)
Year Build / Year Renovated	1968/1985
Year Acquired	2016
14742-14750 Nelson Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	City of Industry, CA
Land, Initial Cost	$ 13,463
Buildings and Improvements, Initial Cost	1,680
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	17,001
Land, Gross Amounts	13,463
Buildings and Improvements, Gross Amounts	18,681
Total, Gross	32,144
Accumulated Depreciation	$ (2,800)
Year Build / Year Renovated	1969 / 2018
Year Acquired	2016
301-445 Figueroa Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Wilmington, CA
Land, Initial Cost	$ 7,126
Buildings and Improvements, Initial Cost	5,728
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	4,894
Land, Gross Amounts	7,126
Buildings and Improvements, Gross Amounts	10,622
Total, Gross	17,748
Accumulated Depreciation	$ (1,916)
Year Build / Year Renovated	1972 / 2018
Year Acquired	2016
12320 4th Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Rancho Cucamonga, CA
Land, Initial Cost	$ 12,642
Buildings and Improvements, Initial Cost	14,179
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	3
Land, Gross Amounts	12,642
Buildings and Improvements, Gross Amounts	14,182
Total, Gross	26,824
Accumulated Depreciation	$ (3,499)
Year Build / Year Renovated	1997 / 2003
Year Acquired	2016
9190 Activity Road
Real Estate And Accumulated Depreciation [Line Items]
Location	San Diego, CA
Land, Initial Cost	$ 8,497
Buildings and Improvements, Initial Cost	5,622
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	727
Land, Gross Amounts	8,497
Buildings and Improvements, Gross Amounts	6,349
Total, Gross	14,846
Accumulated Depreciation	$ (1,740)
Year Build / Year Renovated	1986
Year Acquired	2016
28903-28903 Avenue Paine
Real Estate And Accumulated Depreciation [Line Items]
Location	Valencia, CA
Land, Initial Cost	$ 10,620
Buildings and Improvements, Initial Cost	6,510
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	17,883
Land, Gross Amounts	10,620
Buildings and Improvements, Gross Amounts	24,393
Total, Gross	35,013
Accumulated Depreciation	$ (1,542)
Year Build / Year Renovated	1999 / 2018
Year Acquired	2017
2390 Ward Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Simi Valley, CA
Land, Initial Cost	$ 5,624
Buildings and Improvements, Initial Cost	10,045
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	967
Land, Gross Amounts	5,624
Buildings and Improvements, Gross Amounts	11,012
Total, Gross	16,636
Accumulated Depreciation	$ (2,637)
Year Build / Year Renovated	1989
Year Acquired	2017
Safari Business Center
Real Estate And Accumulated Depreciation [Line Items]
Location	Ontario, CA
Land, Initial Cost	$ 50,807
Buildings and Improvements, Initial Cost	86,065
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	8,121
Land, Gross Amounts	50,807
Buildings and Improvements, Gross Amounts	94,186
Total, Gross	144,993
Accumulated Depreciation	$ (19,840)
Year Build / Year Renovated	1989
Year Acquired	2017
4175 Conant Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Long Beach, CA
Land, Initial Cost	$ 13,785
Buildings and Improvements, Initial Cost	13,440
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	13,785
Buildings and Improvements, Gross Amounts	13,440
Total, Gross	27,225
Accumulated Depreciation	$ (2,791)
Year Build / Year Renovated	2015
Year Acquired	2017
5421 Argosy Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Huntington Beach, CA
Land, Initial Cost	$ 3,577
Buildings and Improvements, Initial Cost	1,490
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	2
Land, Gross Amounts	3,577
Buildings and Improvements, Gross Amounts	1,492
Total, Gross	5,069
Accumulated Depreciation	$ (536)
Year Build / Year Renovated	1976
Year Acquired	2017
14820-14830 Carmenita Road
Real Estate And Accumulated Depreciation [Line Items]
Location	Norwalk, CA
Land, Initial Cost	$ 22,938
Buildings and Improvements, Initial Cost	6,738
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,111
Land, Gross Amounts	22,938
Buildings and Improvements, Gross Amounts	7,849
Total, Gross	30,787
Accumulated Depreciation	$ (1,738)
Year Build / Year Renovated	1970, 2000
Year Acquired	2017
3002-3072 Inland Empire Blvd.
Real Estate And Accumulated Depreciation [Line Items]
Location	Ontario, CA
Land, Initial Cost	$ 11,980
Buildings and Improvements, Initial Cost	14,439
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	3,043
Land, Gross Amounts	11,980
Buildings and Improvements, Gross Amounts	17,482
Total, Gross	29,462
Accumulated Depreciation	$ (4,020)
Year Build / Year Renovated	1981
Year Acquired	2017
17000 Kingsview Avenue & 800 Sandhill Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Carson, CA
Land, Initial Cost	$ 7,988
Buildings and Improvements, Initial Cost	5,472
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	975
Land, Gross Amounts	7,988
Buildings and Improvements, Gross Amounts	6,447
Total, Gross	14,435
Accumulated Depreciation	$ (1,141)
Year Build / Year Renovated	1984
Year Acquired	2017
2301-2329, 2331-2359, 2361-2399, 2370-2398 & 2332-2366 E. Pacifica Place; 20001-20021 Rancho Way
Real Estate And Accumulated Depreciation [Line Items]
Location	Rancho Dominguez, CA
Land, Initial Cost	$ 121,329
Buildings and Improvements, Initial Cost	86,776
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	13,130
Land, Gross Amounts	121,329
Buildings and Improvements, Gross Amounts	99,906
Total, Gross	221,235
Accumulated Depreciation	$ (18,535)
Year Build / Year Renovated	1989 / 2021
Year Acquired	2017
11190 White Birch Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	Rancho Cucamonga, CA
Land, Initial Cost	$ 9,405
Buildings and Improvements, Initial Cost	9,840
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	705
Land, Gross Amounts	9,405
Buildings and Improvements, Gross Amounts	10,545
Total, Gross	19,950
Accumulated Depreciation	$ (2,094)
Year Build / Year Renovated	1986
Year Acquired	2017
4832-4850 Azusa Canyon Road
Real Estate And Accumulated Depreciation [Line Items]
Location	Irwindale, CA
Land, Initial Cost	$ 5,330
Buildings and Improvements, Initial Cost	8,856
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	7
Land, Gross Amounts	5,330
Buildings and Improvements, Gross Amounts	8,863
Total, Gross	14,193
Accumulated Depreciation	$ (1,645)
Year Build / Year Renovated	2016
Year Acquired	2017
1825 Soto Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Los Angeles, CA
Land, Initial Cost	$ 2,129
Buildings and Improvements, Initial Cost	1,315
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	203
Land, Gross Amounts	2,129
Buildings and Improvements, Gross Amounts	1,518
Total, Gross	3,647
Accumulated Depreciation	$ (275)
Year Build / Year Renovated	1993
Year Acquired	2017
19402 Susana Road
Real Estate And Accumulated Depreciation [Line Items]
Location	Rancho Dominguez, CA
Land, Initial Cost	$ 3,524
Buildings and Improvements, Initial Cost	357
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	5
Land, Gross Amounts	3,524
Buildings and Improvements, Gross Amounts	362
Total, Gross	3,886
Accumulated Depreciation	$ (130)
Year Build / Year Renovated	1957
Year Acquired	2017
13225 Western Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Gardena, CA
Land, Initial Cost	$ 1,918
Buildings and Improvements, Initial Cost	355
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	363
Land, Gross Amounts	1,918
Buildings and Improvements, Gross Amounts	718
Total, Gross	2,636
Accumulated Depreciation	$ (124)
Year Build / Year Renovated	1955
Year Acquired	2017
15401 Figueroa Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Los Angeles, CA
Land, Initial Cost	$ 3,255
Buildings and Improvements, Initial Cost	1,248
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	787
Land, Gross Amounts	3,255
Buildings and Improvements, Gross Amounts	2,035
Total, Gross	5,290
Accumulated Depreciation	$ (334)
Year Build / Year Renovated	1964 / 2018
Year Acquired	2017
8542 Slauson Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Pico Rivera, CA
Land, Initial Cost	$ 8,681
Buildings and Improvements, Initial Cost	576
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,089
Land, Gross Amounts	8,681
Buildings and Improvements, Gross Amounts	1,665
Total, Gross	10,346
Accumulated Depreciation	$ (390)
Year Build / Year Renovated	1964
Year Acquired	2017
687 Eucalyptus Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Inglewood, CA
Land, Initial Cost	$ 37,035
Buildings and Improvements, Initial Cost	15,120
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	275
Land, Gross Amounts	37,035
Buildings and Improvements, Gross Amounts	15,395
Total, Gross	52,430
Accumulated Depreciation	$ (2,501)
Year Build / Year Renovated	2017
Year Acquired	2017
302 Rockefeller Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Ontario, CA
Land, Initial Cost	$ 6,859
Buildings and Improvements, Initial Cost	7,185
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	14
Land, Gross Amounts	6,859
Buildings and Improvements, Gross Amounts	7,199
Total, Gross	14,058
Accumulated Depreciation	$ (1,261)
Year Build / Year Renovated	2000
Year Acquired	2017
4355 Brickell Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Ontario, CA
Land, Initial Cost	$ 7,295
Buildings and Improvements, Initial Cost	5,616
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	71
Land, Gross Amounts	7,295
Buildings and Improvements, Gross Amounts	5,687
Total, Gross	12,982
Accumulated Depreciation	$ (1,093)
Year Build / Year Renovated	2004
Year Acquired	2017
12622-12632 Monarch Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Garden Grove, CA
Land, Initial Cost	$ 11,691
Buildings and Improvements, Initial Cost	8,290
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,135
Land, Gross Amounts	11,691
Buildings and Improvements, Gross Amounts	9,425
Total, Gross	21,116
Accumulated Depreciation	$ (1,832)
Year Build / Year Renovated	1967
Year Acquired	2017
8315 Hanan Way
Real Estate And Accumulated Depreciation [Line Items]
Location	Pico Rivera, CA
Land, Initial Cost	$ 8,714
Buildings and Improvements, Initial Cost	4,751
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	180
Land, Gross Amounts	8,714
Buildings and Improvements, Gross Amounts	4,931
Total, Gross	13,645
Accumulated Depreciation	$ (875)
Year Build / Year Renovated	1976
Year Acquired	2017
13971 Norton Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Chino, CA
Land, Initial Cost	$ 5,293
Buildings and Improvements, Initial Cost	6,377
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	174
Land, Gross Amounts	5,293
Buildings and Improvements, Gross Amounts	6,551
Total, Gross	11,844
Accumulated Depreciation	$ (1,217)
Year Build / Year Renovated	1990
Year Acquired	2018
1900 Proforma Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Ontario, CA
Land, Initial Cost	$ 10,214
Buildings and Improvements, Initial Cost	5,127
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	950
Land, Gross Amounts	10,214
Buildings and Improvements, Gross Amounts	6,077
Total, Gross	16,291
Accumulated Depreciation	$ (1,530)
Year Build / Year Renovated	1989
Year Acquired	2018
16010 Shoemaker Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Cerritos, CA
Land, Initial Cost	$ 9,927
Buildings and Improvements, Initial Cost	6,948
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	128
Land, Gross Amounts	9,927
Buildings and Improvements, Gross Amounts	7,076
Total, Gross	17,003
Accumulated Depreciation	$ (1,223)
Year Build / Year Renovated	1985
Year Acquired	2018
4039 Calle Platino
Real Estate And Accumulated Depreciation [Line Items]
Location	Oceanside, CA
Land, Initial Cost	$ 9,476
Buildings and Improvements, Initial Cost	11,394
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	698
Land, Gross Amounts	9,476
Buildings and Improvements, Gross Amounts	12,092
Total, Gross	21,568
Accumulated Depreciation	$ (2,067)
Year Build / Year Renovated	1991
Year Acquired	2018
851 Lawrence Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	Thousand Oaks, CA
Land, Initial Cost	$ 6,717
Buildings and Improvements, Initial Cost	0
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	13,367
Land, Gross Amounts	6,717
Buildings and Improvements, Gross Amounts	13,367
Total, Gross	20,084
Accumulated Depreciation	$ (238)
Year Build / Year Renovated	1968 / 2021
Year Acquired	2018
1581 North Main Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Orange, CA
Land, Initial Cost	$ 4,230
Buildings and Improvements, Initial Cost	3,313
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	45
Land, Gross Amounts	4,230
Buildings and Improvements, Gross Amounts	3,358
Total, Gross	7,588
Accumulated Depreciation	$ (538)
Year Build / Year Renovated	1994
Year Acquired	2018
1580 West Carson Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Long Beach, CA
Land, Initial Cost	$ 5,252
Buildings and Improvements, Initial Cost	2,496
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	2,018
Land, Gross Amounts	5,252
Buildings and Improvements, Gross Amounts	4,514
Total, Gross	9,766
Accumulated Depreciation	$ (611)
Year Build / Year Renovated	1982 / 2018
Year Acquired	2018
660 & 664 North Twin Oaks Valley Road
Real Estate And Accumulated Depreciation [Line Items]
Location	San Marcos, CA
Land, Initial Cost	$ 6,307
Buildings and Improvements, Initial Cost	6,573
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	145
Land, Gross Amounts	6,307
Buildings and Improvements, Gross Amounts	6,718
Total, Gross	13,025
Accumulated Depreciation	$ (1,228)
Year Build / Year Renovated	1978 - 1988
Year Acquired	2018
1190 Stanford Court
Real Estate And Accumulated Depreciation [Line Items]
Location	Anaheim, CA
Land, Initial Cost	$ 3,583
Buildings and Improvements, Initial Cost	2,430
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	133
Land, Gross Amounts	3,583
Buildings and Improvements, Gross Amounts	2,563
Total, Gross	6,146
Accumulated Depreciation	$ (411)
Year Build / Year Renovated	1979
Year Acquired	2018
5300 Sheila Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Commerce, CA
Land, Initial Cost	$ 90,568
Buildings and Improvements, Initial Cost	54,086
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	218
Land, Gross Amounts	90,568
Buildings and Improvements, Gross Amounts	54,304
Total, Gross	144,872
Accumulated Depreciation	$ (8,988)
Year Build / Year Renovated	1975
Year Acquired	2018
15777 Gateway Circle
Real Estate And Accumulated Depreciation [Line Items]
Location	Tustin, CA
Land, Initial Cost	$ 3,815
Buildings and Improvements, Initial Cost	4,292
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	20
Land, Gross Amounts	3,815
Buildings and Improvements, Gross Amounts	4,312
Total, Gross	8,127
Accumulated Depreciation	$ (631)
Year Build / Year Renovated	2005
Year Acquired	2018
1998 Surveyor Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Simi Valley, CA
Land, Initial Cost	$ 3,670
Buildings and Improvements, Initial Cost	2,263
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	4,754
Land, Gross Amounts	3,670
Buildings and Improvements, Gross Amounts	7,017
Total, Gross	10,687
Accumulated Depreciation	$ (861)
Year Build / Year Renovated	2018
Year Acquired	2018
3100 Fujita Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Torrance, CA
Land, Initial Cost	$ 7,723
Buildings and Improvements, Initial Cost	5,649
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	206
Land, Gross Amounts	7,723
Buildings and Improvements, Gross Amounts	5,855
Total, Gross	13,578
Accumulated Depreciation	$ (983)
Year Build / Year Renovated	1970
Year Acquired	2018
4416 Azusa Canyon Road
Real Estate And Accumulated Depreciation [Line Items]
Location	Irwindale, CA
Land, Initial Cost	$ 10,762
Buildings and Improvements, Initial Cost	1,567
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,543
Land, Gross Amounts	10,762
Buildings and Improvements, Gross Amounts	3,110
Total, Gross	13,872
Accumulated Depreciation	$ (230)
Year Build / Year Renovated	1956
Year Acquired	2018
1420 McKinley Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Compton, CA
Land, Initial Cost	$ 17,053
Buildings and Improvements, Initial Cost	13,605
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	143
Land, Gross Amounts	17,053
Buildings and Improvements, Gross Amounts	13,748
Total, Gross	30,801
Accumulated Depreciation	$ (2,074)
Year Build / Year Renovated	2017
Year Acquired	2018
12154 Montague Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Pacoima, CA
Land, Initial Cost	$ 10,114
Buildings and Improvements, Initial Cost	12,767
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	657
Land, Gross Amounts	10,114
Buildings and Improvements, Gross Amounts	13,424
Total, Gross	23,538
Accumulated Depreciation	$ (1,763)
Year Build / Year Renovated	1974
Year Acquired	2018
10747 Norwalk Boulevard
Real Estate And Accumulated Depreciation [Line Items]
Location	Santa Fe Springs, CA
Land, Initial Cost	$ 5,646
Buildings and Improvements, Initial Cost	4,966
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	257
Land, Gross Amounts	5,646
Buildings and Improvements, Gross Amounts	5,223
Total, Gross	10,869
Accumulated Depreciation	$ (751)
Year Build / Year Renovated	1999
Year Acquired	2018
29003 Avenue Sherman
Real Estate And Accumulated Depreciation [Line Items]
Location	Valencia, CA
Land, Initial Cost	$ 3,094
Buildings and Improvements, Initial Cost	6,467
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,734
Land, Gross Amounts	3,094
Buildings and Improvements, Gross Amounts	8,201
Total, Gross	11,295
Accumulated Depreciation	$ (657)
Year Build / Year Renovated	2000 / 2019
Year Acquired	2018
16121 Carmenita Road
Real Estate And Accumulated Depreciation [Line Items]
Location	Cerritos, CA
Land, Initial Cost	$ 10,013
Buildings and Improvements, Initial Cost	3,279
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	3,697
Land, Gross Amounts	10,013
Buildings and Improvements, Gross Amounts	6,976
Total, Gross	16,989
Accumulated Depreciation	$ (662)
Year Build / Year Renovated	1969/1983, 2020
Year Acquired	2018
1332-1340 Rocky Point Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	Oceanside, CA
Land, Initial Cost	$ 3,816
Buildings and Improvements, Initial Cost	6,148
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	363
Land, Gross Amounts	3,816
Buildings and Improvements, Gross Amounts	6,511
Total, Gross	10,327
Accumulated Depreciation	$ (840)
Year Build / Year Renovated	2009 / 2019
Year Acquired	2018
6131-6133 Innovation Way
Real Estate And Accumulated Depreciation [Line Items]
Location	Carlsbad, CA
Land, Initial Cost	$ 10,545
Buildings and Improvements, Initial Cost	11,859
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	113
Land, Gross Amounts	10,545
Buildings and Improvements, Gross Amounts	11,972
Total, Gross	22,517
Accumulated Depreciation	$ (1,702)
Year Build / Year Renovated	2017
Year Acquired	2018
263-321 Gardena Boulevard
Real Estate And Accumulated Depreciation [Line Items]
Location	Carson, CA
Land, Initial Cost	$ 14,302
Buildings and Improvements, Initial Cost	1,960
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	199
Land, Gross Amounts	14,302
Buildings and Improvements, Gross Amounts	2,159
Total, Gross	16,461
Accumulated Depreciation	$ (568)
Year Build / Year Renovated	1977 - 1982
Year Acquired	2018
9200 Mason Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Chatsworth, CA
Land, Initial Cost	$ 4,887
Buildings and Improvements, Initial Cost	4,080
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	4,887
Buildings and Improvements, Gross Amounts	4,080
Total, Gross	8,967
Accumulated Depreciation	$ (571)
Year Build / Year Renovated	1968
Year Acquired	2018
9230 Mason Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Chatsworth, CA
Land, Initial Cost	$ 4,454
Buildings and Improvements, Initial Cost	955
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	4,454
Buildings and Improvements, Gross Amounts	955
Total, Gross	5,409
Accumulated Depreciation	$ (207)
Year Build / Year Renovated	1974
Year Acquired	2018
9250 Mason Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Chatsworth, CA
Land, Initial Cost	$ 4,034
Buildings and Improvements, Initial Cost	2,464
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	4,034
Buildings and Improvements, Gross Amounts	2,464
Total, Gross	6,498
Accumulated Depreciation	$ (372)
Year Build / Year Renovated	1977
Year Acquired	2018
9171 Oso Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Chatsworth, CA
Land, Initial Cost	$ 5,647
Buildings and Improvements, Initial Cost	2,801
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	5,647
Buildings and Improvements, Gross Amounts	2,801
Total, Gross	8,448
Accumulated Depreciation	$ (480)
Year Build / Year Renovated	1980
Year Acquired	2018
5593-5595 Fresca Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	La Palma, CA
Land, Initial Cost	$ 11,414
Buildings and Improvements, Initial Cost	2,502
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	173
Land, Gross Amounts	11,414
Buildings and Improvements, Gross Amounts	2,675
Total, Gross	14,089
Accumulated Depreciation	$ (474)
Year Build / Year Renovated	1973
Year Acquired	2018
6100 Sheila Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Commerce, CA
Land, Initial Cost	$ 11,789
Buildings and Improvements, Initial Cost	5,214
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	390
Land, Gross Amounts	11,789
Buildings and Improvements, Gross Amounts	5,604
Total, Gross	17,393
Accumulated Depreciation	$ (1,191)
Year Build / Year Renovated	1960
Year Acquired	2018
14421-14441 Bonelli Street
Real Estate And Accumulated Depreciation [Line Items]
Location	City of Industry, CA
Land, Initial Cost	$ 12,191
Buildings and Improvements, Initial Cost	7,489
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	202
Land, Gross Amounts	12,191
Buildings and Improvements, Gross Amounts	7,691
Total, Gross	19,882
Accumulated Depreciation	$ (1,076)
Year Build / Year Renovated	1971
Year Acquired	2018
12821 Knott Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Garden Grove, CA
Land, Initial Cost	$ 17,896
Buildings and Improvements, Initial Cost	2,824
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	13,812
Land, Gross Amounts	17,896
Buildings and Improvements, Gross Amounts	16,636
Total, Gross	34,532
Accumulated Depreciation	$ 0
Year Build / Year Renovated	1971
Year Acquired	2019
28510 Industry Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	Valencia, CA
Land, Initial Cost	$ 2,395
Buildings and Improvements, Initial Cost	5,466
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	126
Land, Gross Amounts	2,395
Buildings and Improvements, Gross Amounts	5,592
Total, Gross	7,987
Accumulated Depreciation	$ (650)
Year Build / Year Renovated	2017
Year Acquired	2019
Conejo Spectrum Business Park
Real Estate And Accumulated Depreciation [Line Items]
Location	Thousand Oaks, CA
Land, Initial Cost	$ 38,877
Buildings and Improvements, Initial Cost	64,721
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,860
Land, Gross Amounts	38,877
Buildings and Improvements, Gross Amounts	66,581
Total, Gross	105,458
Accumulated Depreciation	$ (7,600)
Year Build / Year Renovated	2018 / 2020
Year Acquired	2019
2455 Ash Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Vista, CA
Land, Initial Cost	$ 4,273
Buildings and Improvements, Initial Cost	1,966
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	207
Land, Gross Amounts	4,273
Buildings and Improvements, Gross Amounts	2,173
Total, Gross	6,446
Accumulated Depreciation	$ (363)
Year Build / Year Renovated	1990
Year Acquired	2019
25413 Rye Canyon Road
Real Estate And Accumulated Depreciation [Line Items]
Location	Santa Clarita, CA
Land, Initial Cost	$ 3,245
Buildings and Improvements, Initial Cost	2,352
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	966
Land, Gross Amounts	3,245
Buildings and Improvements, Gross Amounts	3,318
Total, Gross	6,563
Accumulated Depreciation	$ (396)
Year Build / Year Renovated	1981
Year Acquired	2019
1515 15th Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Los Angeles, CA
Land, Initial Cost	$ 23,363
Buildings and Improvements, Initial Cost	5,208
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	2,390
Land, Gross Amounts	23,363
Buildings and Improvements, Gross Amounts	7,598
Total, Gross	30,961
Accumulated Depreciation	$ (646)
Year Build / Year Renovated	1977
Year Acquired	2019
13890 Nelson Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	City of Industry, CA
Land, Initial Cost	$ 25,642
Buildings and Improvements, Initial Cost	14,616
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	104
Land, Gross Amounts	25,642
Buildings and Improvements, Gross Amounts	14,720
Total, Gross	40,362
Accumulated Depreciation	$ (1,742)
Year Build / Year Renovated	1982
Year Acquired	2019
445-449 Freedom Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Orange, CA
Land, Initial Cost	$ 9,084
Buildings and Improvements, Initial Cost	8,286
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	496
Land, Gross Amounts	9,084
Buildings and Improvements, Gross Amounts	8,782
Total, Gross	17,866
Accumulated Depreciation	$ (975)
Year Build / Year Renovated	1980
Year Acquired	2019
2270 Camino Vida Roble
Real Estate And Accumulated Depreciation [Line Items]
Location	Carlsbad, CA
Land, Initial Cost	$ 8,102
Buildings and Improvements, Initial Cost	8,179
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	2,827
Land, Gross Amounts	8,102
Buildings and Improvements, Gross Amounts	11,006
Total, Gross	19,108
Accumulated Depreciation	$ (1,430)
Year Build / Year Renovated	1981
Year Acquired	2019
980 Rancheros Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	San Marcos, CA
Land, Initial Cost	$ 2,901
Buildings and Improvements, Initial Cost	4,245
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	255
Land, Gross Amounts	2,901
Buildings and Improvements, Gross Amounts	4,500
Total, Gross	7,401
Accumulated Depreciation	$ (523)
Year Build / Year Renovated	1982
Year Acquired	2019
1145 Arroyo Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	San Fernando, CA
Land, Initial Cost	$ 19,556
Buildings and Improvements, Initial Cost	9,567
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	321
Land, Gross Amounts	19,556
Buildings and Improvements, Gross Amounts	9,888
Total, Gross	29,444
Accumulated Depreciation	$ (1,209)
Year Build / Year Renovated	1989
Year Acquired	2019
1150 Aviation Place
Real Estate And Accumulated Depreciation [Line Items]
Location	San Fernando, CA
Land, Initial Cost	$ 18,989
Buildings and Improvements, Initial Cost	10,067
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	18,989
Buildings and Improvements, Gross Amounts	10,067
Total, Gross	29,056
Accumulated Depreciation	$ (1,324)
Year Build / Year Renovated	1989
Year Acquired	2019
1175 Aviation Place
Real Estate And Accumulated Depreciation [Line Items]
Location	San Fernando, CA
Land, Initial Cost	$ 12,367
Buildings and Improvements, Initial Cost	4,858
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	129
Land, Gross Amounts	12,367
Buildings and Improvements, Gross Amounts	4,987
Total, Gross	17,354
Accumulated Depreciation	$ (663)
Year Build / Year Renovated	1989
Year Acquired	2019
1245 Aviation Place
Real Estate And Accumulated Depreciation [Line Items]
Location	San Fernando, CA
Land, Initial Cost	$ 16,407
Buildings and Improvements, Initial Cost	9,572
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	29
Land, Gross Amounts	16,407
Buildings and Improvements, Gross Amounts	9,601
Total, Gross	26,008
Accumulated Depreciation	$ (1,189)
Year Build / Year Renovated	1989
Year Acquired	2019
635 8th Street
Real Estate And Accumulated Depreciation [Line Items]
Location	San Fernando, CA
Land, Initial Cost	$ 8,787
Buildings and Improvements, Initial Cost	5,922
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	2,037
Land, Gross Amounts	8,787
Buildings and Improvements, Gross Amounts	7,959
Total, Gross	16,746
Accumulated Depreciation	$ (513)
Year Build / Year Renovated	1989
Year Acquired	2019
10015 Waples Court
Real Estate And Accumulated Depreciation [Line Items]
Location	San Diego, CA
Land, Initial Cost	$ 12,280
Buildings and Improvements, Initial Cost	9,198
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	5,463
Land, Gross Amounts	12,280
Buildings and Improvements, Gross Amounts	14,661
Total, Gross	26,941
Accumulated Depreciation	$ (776)
Year Build / Year Renovated	1988 / 2020
Year Acquired	2019
19100 Susana Road
Real Estate And Accumulated Depreciation [Line Items]
Location	Rancho Dominguez, CA
Land, Initial Cost	$ 11,576
Buildings and Improvements, Initial Cost	2,265
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	337
Land, Gross Amounts	11,576
Buildings and Improvements, Gross Amounts	2,602
Total, Gross	14,178
Accumulated Depreciation	$ (398)
Year Build / Year Renovated	1956
Year Acquired	2019
15385 Oxnard Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Van Nuys, CA
Land, Initial Cost	$ 11,782
Buildings and Improvements, Initial Cost	5,212
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	204
Land, Gross Amounts	11,782
Buildings and Improvements, Gross Amounts	5,416
Total, Gross	17,198
Accumulated Depreciation	$ (625)
Year Build / Year Renovated	1988
Year Acquired	2019
9750-9770 San Fernando Road
Real Estate And Accumulated Depreciation [Line Items]
Location	Sun Valley, CA
Land, Initial Cost	$ 6,718
Buildings and Improvements, Initial Cost	543
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	72
Land, Gross Amounts	6,718
Buildings and Improvements, Gross Amounts	615
Total, Gross	7,333
Accumulated Depreciation	$ (158)
Year Build / Year Renovated	1952
Year Acquired	2019
218 S. Turnbull Canyon
Real Estate And Accumulated Depreciation [Line Items]
Location	City of Industry, CA
Land, Initial Cost	$ 19,075
Buildings and Improvements, Initial Cost	8,061
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	274
Land, Gross Amounts	19,075
Buildings and Improvements, Gross Amounts	8,335
Total, Gross	27,410
Accumulated Depreciation	$ (1,063)
Year Build / Year Renovated	1999
Year Acquired	2019
Limonite Ave. & Archibald Ave.
Real Estate And Accumulated Depreciation [Line Items]
Location	Eastvale, CA
Land, Initial Cost	$ 23,848
Buildings and Improvements, Initial Cost	0
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	31,554
Land, Gross Amounts	23,848
Buildings and Improvements, Gross Amounts	31,554
Total, Gross	55,402
Accumulated Depreciation	$ (1,251)
Year Build / Year Renovated	2020
Year Acquired	2019
3340 San Fernando Road
Real Estate And Accumulated Depreciation [Line Items]
Location	Los Angeles, CA
Land, Initial Cost	$ 2,885
Buildings and Improvements, Initial Cost	147
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	(115)
Land, Gross Amounts	2,770
Buildings and Improvements, Gross Amounts	147
Total, Gross	2,917
Accumulated Depreciation	$ (45)
Year Build / Year Renovated	N/A
Year Acquired	2019
5725 Eastgate Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	San Diego, CA
Land, Initial Cost	$ 6,543
Buildings and Improvements, Initial Cost	1,732
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	332
Land, Gross Amounts	6,543
Buildings and Improvements, Gross Amounts	2,064
Total, Gross	8,607
Accumulated Depreciation	$ (318)
Year Build / Year Renovated	1995
Year Acquired	2019
18115 Main Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Carson, CA
Land, Initial Cost	$ 7,142
Buildings and Improvements, Initial Cost	776
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	122
Land, Gross Amounts	7,142
Buildings and Improvements, Gross Amounts	898
Total, Gross	8,040
Accumulated Depreciation	$ (150)
Year Build / Year Renovated	1988
Year Acquired	2019
3150 Ana Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Rancho Dominguez, CA
Land, Initial Cost	$ 15,997
Buildings and Improvements, Initial Cost	3,036
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	15,997
Buildings and Improvements, Gross Amounts	3,036
Total, Gross	19,033
Accumulated Depreciation	$ (358)
Year Build / Year Renovated	1957
Year Acquired	2019
1402 Avenida Del Oro
Real Estate And Accumulated Depreciation [Line Items]
Location	Oceanside, CA
Land, Initial Cost	$ 33,006
Buildings and Improvements, Initial Cost	34,439
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	22
Land, Gross Amounts	33,006
Buildings and Improvements, Gross Amounts	34,461
Total, Gross	67,467
Accumulated Depreciation	$ (3,735)
Year Build / Year Renovated	2016
Year Acquired	2019
9607-9623 Imperial Highway
Real Estate And Accumulated Depreciation [Line Items]
Location	Downey, CA
Land, Initial Cost	$ 9,766
Buildings and Improvements, Initial Cost	865
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,440
Land, Gross Amounts	9,766
Buildings and Improvements, Gross Amounts	2,305
Total, Gross	12,071
Accumulated Depreciation	$ (240)
Year Build / Year Renovated	1974
Year Acquired	2019
12200 Bellflower Boulevard
Real Estate And Accumulated Depreciation [Line Items]
Location	Downey, CA
Land, Initial Cost	$ 14,960
Buildings and Improvements, Initial Cost	2,057
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	425
Land, Gross Amounts	14,960
Buildings and Improvements, Gross Amounts	2,482
Total, Gross	17,442
Accumulated Depreciation	$ (326)
Year Build / Year Renovated	1955
Year Acquired	2019
Storm Parkway
Real Estate And Accumulated Depreciation [Line Items]
Location	Torrance, CA
Land, Initial Cost	$ 42,178
Buildings and Improvements, Initial Cost	21,987
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	508
Land, Gross Amounts	42,178
Buildings and Improvements, Gross Amounts	22,495
Total, Gross	64,673
Accumulated Depreciation	$ (2,247)
Year Build / Year Renovated	1982 - 2008
Year Acquired	2019
2328 Teller Road
Real Estate And Accumulated Depreciation [Line Items]
Location	Newbury Park, CA
Land, Initial Cost	$ 8,330
Buildings and Improvements, Initial Cost	14,304
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,128
Land, Gross Amounts	8,330
Buildings and Improvements, Gross Amounts	15,432
Total, Gross	23,762
Accumulated Depreciation	$ (1,539)
Year Build / Year Renovated	1970 / 2018
Year Acquired	2019
6277-6289 Slauson Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Commerce, CA
Land, Initial Cost	$ 27,809
Buildings and Improvements, Initial Cost	11,454
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	738
Land, Gross Amounts	27,809
Buildings and Improvements, Gross Amounts	12,192
Total, Gross	40,001
Accumulated Depreciation	$ (1,262)
Year Build / Year Renovated	1962 - 1977
Year Acquired	2019
750 Manville Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Compton, CA
Land, Initial Cost	$ 8,283
Buildings and Improvements, Initial Cost	2,784
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	352
Land, Gross Amounts	8,283
Buildings and Improvements, Gross Amounts	3,136
Total, Gross	11,419
Accumulated Depreciation	$ (312)
Year Build / Year Renovated	1977
Year Acquired	2019
8985 Crestmar Point
Real Estate And Accumulated Depreciation [Line Items]
Location	San Diego, CA
Land, Initial Cost	$ 6,990
Buildings and Improvements, Initial Cost	1,350
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	355
Land, Gross Amounts	6,990
Buildings and Improvements, Gross Amounts	1,705
Total, Gross	8,695
Accumulated Depreciation	$ (263)
Year Build / Year Renovated	1988
Year Acquired	2019
404-430 Berry Way
Real Estate And Accumulated Depreciation [Line Items]
Location	Brea, CA
Land, Initial Cost	$ 21,047
Buildings and Improvements, Initial Cost	4,566
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,271
Land, Gross Amounts	21,047
Buildings and Improvements, Gross Amounts	5,837
Total, Gross	26,884
Accumulated Depreciation	$ (702)
Year Build / Year Renovated	1964 - 1967
Year Acquired	2019
415-435 Motor Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Azusa, CA
Land, Initial Cost	$ 7,364
Buildings and Improvements, Initial Cost	0
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	6,047
Land, Gross Amounts	7,364
Buildings and Improvements, Gross Amounts	6,047
Total, Gross	13,411
Accumulated Depreciation	$ 0
Year Build / Year Renovated	1956
Year Acquired	2019
508 East E Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Wilmington, CA
Land, Initial Cost	$ 10,742
Buildings and Improvements, Initial Cost	4,380
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	63
Land, Gross Amounts	10,742
Buildings and Improvements, Gross Amounts	4,443
Total, Gross	15,185
Accumulated Depreciation	$ (457)
Year Build / Year Renovated	1988
Year Acquired	2019
12752-12822 Monarch Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Garden Grove, CA
Land, Initial Cost	$ 29,404
Buildings and Improvements, Initial Cost	4,262
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	2,231
Land, Gross Amounts	29,404
Buildings and Improvements, Gross Amounts	6,493
Total, Gross	35,897
Accumulated Depreciation	$ (538)
Year Build / Year Renovated	1971
Year Acquired	2019
1601 Mission Blvd.
Real Estate And Accumulated Depreciation [Line Items]
Location	Pomona, CA
Land, Initial Cost	$ 67,623
Buildings and Improvements, Initial Cost	18,962
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	103
Land, Gross Amounts	67,623
Buildings and Improvements, Gross Amounts	19,065
Total, Gross	86,688
Accumulated Depreciation	$ (2,358)
Year Build / Year Renovated	1952
Year Acquired	2019
2757 Del Amo Blvd.
Real Estate And Accumulated Depreciation [Line Items]
Location	Rancho Dominguez, CA
Land, Initial Cost	$ 10,035
Buildings and Improvements, Initial Cost	2,073
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	18
Land, Gross Amounts	10,035
Buildings and Improvements, Gross Amounts	2,091
Total, Gross	12,126
Accumulated Depreciation	$ (276)
Year Build / Year Renovated	1967
Year Acquired	2019
18250 Euclid Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Fountain Valley, CA
Land, Initial Cost	$ 11,116
Buildings and Improvements, Initial Cost	3,201
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	11,116
Buildings and Improvements, Gross Amounts	3,201
Total, Gross	14,317
Accumulated Depreciation	$ (302)
Year Build / Year Renovated	1974
Year Acquired	2019
701-751 Kingshill Place
Real Estate And Accumulated Depreciation [Line Items]
Location	Carson, CA
Encumbrances	$ 7,100
Land, Initial Cost	23,016
Buildings and Improvements, Initial Cost	10,344
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	3,802
Land, Gross Amounts	23,016
Buildings and Improvements, Gross Amounts	14,146
Total, Gross	37,162
Accumulated Depreciation	$ (921)
Year Build / Year Renovated	1979 / 2020
Year Acquired	2020
2601-2641 Manhattan Beach Blvd
Real Estate And Accumulated Depreciation [Line Items]
Location	Redondo Beach, CA
Encumbrances	$ 3,951
Land, Initial Cost	30,333
Buildings and Improvements, Initial Cost	9,427
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	3,267
Land, Gross Amounts	30,333
Buildings and Improvements, Gross Amounts	12,694
Total, Gross	43,027
Accumulated Depreciation	$ (916)
Year Build / Year Renovated	1978
Year Acquired	2020
2410-2420 Santa Fe Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Redondo Beach, CA
Encumbrances	$ 10,300
Land, Initial Cost	24,310
Buildings and Improvements, Initial Cost	13,128
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	6
Land, Gross Amounts	24,310
Buildings and Improvements, Gross Amounts	13,134
Total, Gross	37,444
Accumulated Depreciation	$ (998)
Year Build / Year Renovated	1977
Year Acquired	2020
11600 Los Nietos Road
Real Estate And Accumulated Depreciation [Line Items]
Location	Santa Fe Springs, CA
Encumbrances	$ 2,626
Land, Initial Cost	12,033
Buildings and Improvements, Initial Cost	4,666
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	2,043
Land, Gross Amounts	12,033
Buildings and Improvements, Gross Amounts	6,709
Total, Gross	18,742
Accumulated Depreciation	$ (235)
Year Build / Year Renovated	1976
Year Acquired	2020
5160 Richton Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Montclair, CA
Encumbrances	$ 4,272
Land, Initial Cost	7,199
Buildings and Improvements, Initial Cost	8,203
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	331
Land, Gross Amounts	7,199
Buildings and Improvements, Gross Amounts	8,534
Total, Gross	15,733
Accumulated Depreciation	$ (673)
Year Build / Year Renovated	2004
Year Acquired	2020
2205 126th Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Hawthorne, CA
Encumbrances	$ 5,200
Land, Initial Cost	11,407
Buildings and Improvements, Initial Cost	6,834
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	737
Land, Gross Amounts	11,407
Buildings and Improvements, Gross Amounts	7,571
Total, Gross	18,978
Accumulated Depreciation	$ (653)
Year Build / Year Renovated	1998
Year Acquired	2020
11832-11954 La Cienega Blvd
Real Estate And Accumulated Depreciation [Line Items]
Location	Hawthorne, CA
Encumbrances	$ 4,002
Land, Initial Cost	13,625
Buildings and Improvements, Initial Cost	5,721
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	618
Land, Gross Amounts	13,625
Buildings and Improvements, Gross Amounts	6,339
Total, Gross	19,964
Accumulated Depreciation	$ (591)
Year Build / Year Renovated	1999
Year Acquired	2020
7612-7642 Woodwind Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	Huntington Beach, CA
Encumbrances	$ 3,806
Land, Initial Cost	10,634
Buildings and Improvements, Initial Cost	2,901
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	43
Land, Gross Amounts	10,634
Buildings and Improvements, Gross Amounts	2,944
Total, Gross	13,578
Accumulated Depreciation	$ (269)
Year Build / Year Renovated	2001
Year Acquired	2020
960-970 Knox Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Torrance, CA
Encumbrances	$ 2,399
Land, Initial Cost	7,324
Buildings and Improvements, Initial Cost	2,380
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	806
Land, Gross Amounts	7,324
Buildings and Improvements, Gross Amounts	3,186
Total, Gross	10,510
Accumulated Depreciation	$ (264)
Year Build / Year Renovated	1976
Year Acquired	2020
25781 Atlantic Ocean Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	Lake Forest, CA
Land, Initial Cost	$ 4,358
Buildings and Improvements, Initial Cost	1,067
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	4,358
Buildings and Improvements, Gross Amounts	1,067
Total, Gross	5,425
Accumulated Depreciation	$ (108)
Year Build / Year Renovated	1996
Year Acquired	2020
720-750 Vernon Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Azusa, CA
Land, Initial Cost	$ 14,088
Buildings and Improvements, Initial Cost	1,638
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	4
Land, Gross Amounts	14,088
Buildings and Improvements, Gross Amounts	1,642
Total, Gross	15,730
Accumulated Depreciation	$ (209)
Year Build / Year Renovated	1950
Year Acquired	2020
6687 Flotilla Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Commerce, CA
Land, Initial Cost	$ 14,501
Buildings and Improvements, Initial Cost	6,053
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	445
Land, Gross Amounts	14,501
Buildings and Improvements, Gross Amounts	6,498
Total, Gross	20,999
Accumulated Depreciation	$ (472)
Year Build / Year Renovated	1956
Year Acquired	2020
1055 Sandhill Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Carson, CA
Land, Initial Cost	$ 11,970
Buildings and Improvements, Initial Cost	0
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	3,183
Land, Gross Amounts	11,970
Buildings and Improvements, Gross Amounts	3,183
Total, Gross	15,153
Accumulated Depreciation	$ 0
Year Build / Year Renovated	1973
Year Acquired	2020
22895 Eastpark Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	Yorba Linda, CA
Encumbrances	$ 2,682
Land, Initial Cost	5,337
Buildings and Improvements, Initial Cost	1,370
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	5,337
Buildings and Improvements, Gross Amounts	1,370
Total, Gross	6,707
Accumulated Depreciation	$ (121)
Year Build / Year Renovated	1986
Year Acquired	2020
8745-8775 Production Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	San Diego, CA
Land, Initial Cost	$ 6,471
Buildings and Improvements, Initial Cost	1,551
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,548
Land, Gross Amounts	6,471
Buildings and Improvements, Gross Amounts	3,099
Total, Gross	9,570
Accumulated Depreciation	$ (184)
Year Build / Year Renovated	1974 / 2021
Year Acquired	2020
15580 Slover Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Fontana, CA
Land, Initial Cost	$ 3,634
Buildings and Improvements, Initial Cost	6,452
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	55
Land, Gross Amounts	3,634
Buildings and Improvements, Gross Amounts	6,507
Total, Gross	10,141
Accumulated Depreciation	$ (388)
Year Build / Year Renovated	2020
Year Acquired	2020
15650-15700 Avalon Boulevard
Real Estate And Accumulated Depreciation [Line Items]
Location	Los Angeles, CA
Land, Initial Cost	$ 22,353
Buildings and Improvements, Initial Cost	5,988
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	3,186
Land, Gross Amounts	22,353
Buildings and Improvements, Gross Amounts	9,174
Total, Gross	31,527
Accumulated Depreciation	$ (303)
Year Build / Year Renovated	1962 - 1978
Year Acquired	2020
11308-11350 Penrose Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Sun Valley, CA
Land, Initial Cost	$ 15,884
Buildings and Improvements, Initial Cost	11,169
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	161
Land, Gross Amounts	15,884
Buildings and Improvements, Gross Amounts	11,330
Total, Gross	27,214
Accumulated Depreciation	$ (735)
Year Build / Year Renovated	1974
Year Acquired	2020
11076-11078 Fleetwood Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Sun Valley, CA
Land, Initial Cost	$ 3,217
Buildings and Improvements, Initial Cost	1,446
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,037
Land, Gross Amounts	3,217
Buildings and Improvements, Gross Amounts	2,483
Total, Gross	5,700
Accumulated Depreciation	$ (95)
Year Build / Year Renovated	1974
Year Acquired	2020
12133 Greenstone Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Santa Fe Springs, CA
Land, Initial Cost	$ 5,900
Buildings and Improvements, Initial Cost	891
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,718
Land, Gross Amounts	5,900
Buildings and Improvements, Gross Amounts	2,609
Total, Gross	8,509
Accumulated Depreciation	$ (42)
Year Build / Year Renovated	1967
Year Acquired	2020
12772-12746 San Fernando Road
Real Estate And Accumulated Depreciation [Line Items]
Location	Sylmar, CA
Land, Initial Cost	$ 17,302
Buildings and Improvements, Initial Cost	3,832
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	284
Land, Gross Amounts	17,302
Buildings and Improvements, Gross Amounts	4,116
Total, Gross	21,418
Accumulated Depreciation	$ (244)
Year Build / Year Renovated	1964 / 2013
Year Acquired	2020
15601 Avalon Boulevard
Real Estate And Accumulated Depreciation [Line Items]
Location	Los Angeles, CA
Land, Initial Cost	$ 15,776
Buildings and Improvements, Initial Cost	0
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,682
Land, Gross Amounts	15,776
Buildings and Improvements, Gross Amounts	1,682
Total, Gross	17,458
Accumulated Depreciation	$ 0
Year Build / Year Renovated	1984
Year Acquired	2020
Gateway Pointe
Real Estate And Accumulated Depreciation [Line Items]
Location	Whittier, CA
Land, Initial Cost	$ 132,659
Buildings and Improvements, Initial Cost	154,250
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,106
Land, Gross Amounts	132,659
Buildings and Improvements, Gross Amounts	155,356
Total, Gross	288,015
Accumulated Depreciation	$ (6,723)
Year Build / Year Renovated	2005 - 2006
Year Acquired	2020
13943-13955 Balboa Blvd
Real Estate And Accumulated Depreciation [Line Items]
Location	Sylmar, CA
Encumbrances	$ 15,320
Land, Initial Cost	26,795
Buildings and Improvements, Initial Cost	18,484
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	66
Land, Gross Amounts	26,795
Buildings and Improvements, Gross Amounts	18,550
Total, Gross	45,345
Accumulated Depreciation	$ (936)
Year Build / Year Renovated	2000
Year Acquired	2020
Van Nuys Airport Industrial Center
Real Estate And Accumulated Depreciation [Line Items]
Location	Van Nuys, CA
Land, Initial Cost	$ 91,894
Buildings and Improvements, Initial Cost	58,625
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	654
Land, Gross Amounts	91,894
Buildings and Improvements, Gross Amounts	59,279
Total, Gross	151,173
Accumulated Depreciation	$ (2,589)
Year Build / Year Renovated	1961 - 2007
Year Acquired	2020
4039 State Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Montclair, CA
Land, Initial Cost	$ 12,829
Buildings and Improvements, Initial Cost	15,485
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	40
Land, Gross Amounts	12,829
Buildings and Improvements, Gross Amounts	15,525
Total, Gross	28,354
Accumulated Depreciation	$ (672)
Year Build / Year Renovated	2020
Year Acquired	2020
10156 Live Oak Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Fontana, CA
Land, Initial Cost	$ 19,779
Buildings and Improvements, Initial Cost	27,186
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	7
Land, Gross Amounts	19,779
Buildings and Improvements, Gross Amounts	27,193
Total, Gross	46,972
Accumulated Depreciation	$ (1,082)
Year Build / Year Renovated	2020
Year Acquired	2020
10694 Tamarind Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Fontana, CA
Land, Initial Cost	$ 8,878
Buildings and Improvements, Initial Cost	12,325
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	190
Land, Gross Amounts	8,878
Buildings and Improvements, Gross Amounts	12,515
Total, Gross	21,393
Accumulated Depreciation	$ (518)
Year Build / Year Renovated	2020
Year Acquired	2020
2520 Baseline Road
Real Estate And Accumulated Depreciation [Line Items]
Location	Rialto, CA
Land, Initial Cost	$ 12,513
Buildings and Improvements, Initial Cost	16,377
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	172
Land, Gross Amounts	12,513
Buildings and Improvements, Gross Amounts	16,549
Total, Gross	29,062
Accumulated Depreciation	$ (690)
Year Build / Year Renovated	2020
Year Acquired	2020
12211 Greenstone Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Santa Fe Springs, CA
Land, Initial Cost	$ 15,729
Buildings and Improvements, Initial Cost	1,636
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	15,729
Buildings and Improvements, Gross Amounts	1,636
Total, Gross	17,365
Accumulated Depreciation	$ (139)
Year Acquired	2020
1921, 2011, 2055, 2099, 2040 East 27th Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Los Angeles, CA
Land, Initial Cost	$ 40,332
Buildings and Improvements, Initial Cost	21,842
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	186
Land, Gross Amounts	40,332
Buildings and Improvements, Gross Amounts	22,028
Total, Gross	62,360
Accumulated Depreciation	$ (1,036)
Year Build / Year Renovated	1961 - 2004
Year Acquired	2020
2750 & 2800 Alameda Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Los Angeles, CA
Land, Initial Cost	$ 24,644
Buildings and Improvements, Initial Cost	5,771
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	59
Land, Gross Amounts	24,644
Buildings and Improvements, Gross Amounts	5,830
Total, Gross	30,474
Accumulated Depreciation	$ (380)
Year Build / Year Renovated	1961 - 1980
Year Acquired	2020
29010 Avenue Paine
Real Estate And Accumulated Depreciation [Line Items]
Location	Valencia, CA
Land, Initial Cost	$ 7,401
Buildings and Improvements, Initial Cost	8,168
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	845
Land, Gross Amounts	7,401
Buildings and Improvements, Gross Amounts	9,013
Total, Gross	16,414
Accumulated Depreciation	$ (345)
Year Build / Year Renovated	2000
Year Acquired	2020
29010 Commerce Center Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	Valencia, CA
Land, Initial Cost	$ 10,499
Buildings and Improvements, Initial Cost	13,832
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	3
Land, Gross Amounts	10,499
Buildings and Improvements, Gross Amounts	13,835
Total, Gross	24,334
Accumulated Depreciation	$ (579)
Year Build / Year Renovated	2002
Year Acquired	2020
13369 Valley Blvd
Real Estate And Accumulated Depreciation [Line Items]
Location	Fontana, CA
Land, Initial Cost	$ 9,675
Buildings and Improvements, Initial Cost	10,393
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	26
Land, Gross Amounts	9,675
Buildings and Improvements, Gross Amounts	10,419
Total, Gross	20,094
Accumulated Depreciation	$ (474)
Year Build / Year Renovated	2005
Year Acquired	2020
6635 Caballero Blvd
Real Estate And Accumulated Depreciation [Line Items]
Location	Buena Park, CA
Land, Initial Cost	$ 14,288
Buildings and Improvements, Initial Cost	7,919
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	106
Land, Gross Amounts	14,288
Buildings and Improvements, Gross Amounts	8,025
Total, Gross	22,313
Accumulated Depreciation	$ (345)
Year Build / Year Renovated	2003
Year Acquired	2020
1235 South Lewis Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Anaheim, CA
Land, Initial Cost	$ 16,984
Buildings and Improvements, Initial Cost	1,519
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	203
Land, Gross Amounts	16,984
Buildings and Improvements, Gross Amounts	1,722
Total, Gross	18,706
Accumulated Depreciation	$ (104)
Year Build / Year Renovated	1956
Year Acquired	2020
15010 Don Julian Road
Real Estate And Accumulated Depreciation [Line Items]
Location	City of Industry, CA
Land, Initial Cost	$ 24,017
Buildings and Improvements, Initial Cost	0
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	796
Land, Gross Amounts	24,017
Buildings and Improvements, Gross Amounts	796
Total, Gross	24,813
Accumulated Depreciation	$ (2)
Year Build / Year Renovated	1963
Year Acquired	2021
5002-5018 Lindsay Court
Real Estate And Accumulated Depreciation [Line Items]
Location	Chino, CA
Land, Initial Cost	$ 6,996
Buildings and Improvements, Initial Cost	5,658
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	403
Land, Gross Amounts	6,996
Buildings and Improvements, Gross Amounts	6,061
Total, Gross	13,057
Accumulated Depreciation	$ (228)
Year Build / Year Renovated	1986
Year Acquired	2021
514 East C Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Los Angeles, CA
Land, Initial Cost	$ 9,114
Buildings and Improvements, Initial Cost	1,205
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1
Land, Gross Amounts	9,114
Buildings and Improvements, Gross Amounts	1,206
Total, Gross	10,320
Accumulated Depreciation	$ (66)
Year Build / Year Renovated	2019
Year Acquired	2021
17907-18001 Figueroa Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Los Angeles, CA
Land, Initial Cost	$ 18,065
Buildings and Improvements, Initial Cost	1,829
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	131
Land, Gross Amounts	18,065
Buildings and Improvements, Gross Amounts	1,960
Total, Gross	20,025
Accumulated Depreciation	$ (131)
Year Build / Year Renovated	1954 - 1960
Year Acquired	2021
7817 Woodley Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Van Nuys, CA
Encumbrances	$ 3,132
Land, Initial Cost	5,496
Buildings and Improvements, Initial Cost	4,615
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	5,496
Buildings and Improvements, Gross Amounts	4,615
Total, Gross	10,111
Accumulated Depreciation	$ (171)
Year Build / Year Renovated	1974
Year Acquired	2021
8888-8992 Balboa Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	San Diego, CA
Land, Initial Cost	$ 20,033
Buildings and Improvements, Initial Cost	0
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	909
Land, Gross Amounts	20,033
Buildings and Improvements, Gross Amounts	909
Total, Gross	20,942
Accumulated Depreciation	$ 0
Year Build / Year Renovated	1967
Year Acquired	2021
9920-10020 Pioneer Boulevard
Real Estate And Accumulated Depreciation [Line Items]
Location	Santa Fe Springs, CA
Land, Initial Cost	$ 21,345
Buildings and Improvements, Initial Cost	2,118
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	2,116
Land, Gross Amounts	21,345
Buildings and Improvements, Gross Amounts	4,234
Total, Gross	25,579
Accumulated Depreciation	$ 0
Year Build / Year Renovated	1973 - 1978
Year Acquired	2021
2553 Garfield Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Commerce, CA
Land, Initial Cost	$ 3,846
Buildings and Improvements, Initial Cost	649
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	98
Land, Gross Amounts	3,846
Buildings and Improvements, Gross Amounts	747
Total, Gross	4,593
Accumulated Depreciation	$ (43)
Year Build / Year Renovated	1954
Year Acquired	2021
6655 East 26th Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Commerce, CA
Land, Initial Cost	$ 5,195
Buildings and Improvements, Initial Cost	1,780
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	27
Land, Gross Amounts	5,195
Buildings and Improvements, Gross Amounts	1,807
Total, Gross	7,002
Accumulated Depreciation	$ (72)
Year Build / Year Renovated	1965
Year Acquired	2021
560 Main Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Orange, CA
Land, Initial Cost	$ 2,660
Buildings and Improvements, Initial Cost	432
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	109
Land, Gross Amounts	2,660
Buildings and Improvements, Gross Amounts	541
Total, Gross	3,201
Accumulated Depreciation	$ (29)
Year Build / Year Renovated	1973
Year Acquired	2021
4225 Etiwanda Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Jurupa Valley, CA
Land, Initial Cost	$ 16,287
Buildings and Improvements, Initial Cost	15,537
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	98
Land, Gross Amounts	16,287
Buildings and Improvements, Gross Amounts	15,635
Total, Gross	31,922
Accumulated Depreciation	$ (528)
Year Build / Year Renovated	1998
Year Acquired	2021
12118 Bloomfield Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Santa Fe Springs, CA
Land, Initial Cost	$ 16,809
Buildings and Improvements, Initial Cost	0
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	168
Land, Gross Amounts	16,809
Buildings and Improvements, Gross Amounts	168
Total, Gross	16,977
Accumulated Depreciation	$ (1)
Year Build / Year Renovated	1955
Year Acquired	2021
256 Alondra Blvd
Real Estate And Accumulated Depreciation [Line Items]
Location	Carson, CA
Land, Initial Cost	$ 10,377
Buildings and Improvements, Initial Cost	371
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	250
Land, Gross Amounts	10,377
Buildings and Improvements, Gross Amounts	621
Total, Gross	10,998
Accumulated Depreciation	$ (37)
Year Build / Year Renovated	1954
Year Acquired	2021
19007 Reyes Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Rancho Dominguez, CA
Land, Initial Cost	$ 16,673
Buildings and Improvements, Initial Cost	0
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,103
Land, Gross Amounts	16,673
Buildings and Improvements, Gross Amounts	1,103
Total, Gross	17,776
Accumulated Depreciation	$ (1)
Year Build / Year Renovated	1969 / 2021
Year Acquired	2021
19431 Santa Fe Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Rancho Dominguez, CA
Land, Initial Cost	$ 10,066
Buildings and Improvements, Initial Cost	638
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	27
Land, Gross Amounts	10,066
Buildings and Improvements, Gross Amounts	665
Total, Gross	10,731
Accumulated Depreciation	$ (48)
Year Build / Year Renovated	1963
Year Acquired	2021
4621 Guasti Road
Real Estate And Accumulated Depreciation [Line Items]
Location	Ontario, CA
Land, Initial Cost	$ 8,198
Buildings and Improvements, Initial Cost	5,231
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	35
Land, Gross Amounts	8,198
Buildings and Improvements, Gross Amounts	5,266
Total, Gross	13,464
Accumulated Depreciation	$ (140)
Year Build / Year Renovated	1988
Year Acquired	2021
12838 Saticoy Street
Real Estate And Accumulated Depreciation [Line Items]
Location	North Hollywood, CA
Land, Initial Cost	$ 25,550
Buildings and Improvements, Initial Cost	2,185
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	25,550
Buildings and Improvements, Gross Amounts	2,185
Total, Gross	27,735
Accumulated Depreciation	$ (93)
Year Build / Year Renovated	1954
Year Acquired	2021
19951 Mariner Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Torrance, CA
Land, Initial Cost	$ 17,009
Buildings and Improvements, Initial Cost	7,674
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	17,009
Buildings and Improvements, Gross Amounts	7,674
Total, Gross	24,683
Accumulated Depreciation	$ (259)
Year Build / Year Renovated	1986
Year Acquired	2021
East 12th Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Los Angeles, CA
Land, Initial Cost	$ 48,409
Buildings and Improvements, Initial Cost	40,756
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	284
Land, Gross Amounts	48,409
Buildings and Improvements, Gross Amounts	41,040
Total, Gross	89,449
Accumulated Depreciation	$ (935)
Year Build / Year Renovated	1988
Year Acquired	2021
29120 Commerce Center Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	Valencia, CA
Land, Initial Cost	$ 11,121
Buildings and Improvements, Initial Cost	15,799
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	11,121
Buildings and Improvements, Gross Amounts	15,799
Total, Gross	26,920
Accumulated Depreciation	$ (359)
Year Build / Year Renovated	2002
Year Acquired	2021
20304 Alameda Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Rancho Dominguez, CA
Land, Initial Cost	$ 11,987
Buildings and Improvements, Initial Cost	1,663
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	11,987
Buildings and Improvements, Gross Amounts	1,663
Total, Gross	13,650
Accumulated Depreciation	$ (57)
Year Build / Year Renovated	1974
Year Acquired	2021
4181 Ruffin Road
Real Estate And Accumulated Depreciation [Line Items]
Location	San Diego, CA
Land, Initial Cost	$ 30,395
Buildings and Improvements, Initial Cost	3,530
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1
Land, Gross Amounts	30,395
Buildings and Improvements, Gross Amounts	3,531
Total, Gross	33,926
Accumulated Depreciation	$ (178)
Year Build / Year Renovated	1987
Year Acquired	2021
12017 Greenstone Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Santa Fe Springs, CA
Land, Initial Cost	$ 13,408
Buildings and Improvements, Initial Cost	205
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	603
Land, Gross Amounts	13,408
Buildings and Improvements, Gross Amounts	808
Total, Gross	14,216
Accumulated Depreciation	$ (16)
Year Build / Year Renovated	N/A
Year Acquired	2021
1901 Via Burton
Real Estate And Accumulated Depreciation [Line Items]
Location	Fullerton, CA
Land, Initial Cost	$ 24,461
Buildings and Improvements, Initial Cost	0
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,027
Land, Gross Amounts	24,461
Buildings and Improvements, Gross Amounts	1,027
Total, Gross	25,488
Accumulated Depreciation	$ 0
Year Build / Year Renovated	1960
Year Acquired	2021
1555 Cucamonga Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Ontario, CA
Land, Initial Cost	$ 20,153
Buildings and Improvements, Initial Cost	2,134
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	20,153
Buildings and Improvements, Gross Amounts	2,134
Total, Gross	22,287
Accumulated Depreciation	$ (76)
Year Build / Year Renovated	1973
Year Acquired	2021
1800 Lomita Blvd
Real Estate And Accumulated Depreciation [Line Items]
Location	Wilmington, CA
Land, Initial Cost	$ 89,711
Buildings and Improvements, Initial Cost	542
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	89,711
Buildings and Improvements, Gross Amounts	542
Total, Gross	90,253
Accumulated Depreciation	$ (29)
Year Build / Year Renovated	N/A
Year Acquired	2021
8210-8240 Haskell Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Van Nuys, CA
Land, Initial Cost	$ 9,219
Buildings and Improvements, Initial Cost	3,331
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	267
Land, Gross Amounts	9,219
Buildings and Improvements, Gross Amounts	3,598
Total, Gross	12,817
Accumulated Depreciation	$ 0
Year Build / Year Renovated	1962 - 1964
Year Acquired	2021
3100 Lomita Boulevard
Real Estate And Accumulated Depreciation [Line Items]
Location	Torrance, CA
Land, Initial Cost	$ 124,313
Buildings and Improvements, Initial Cost	65,282
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	621
Land, Gross Amounts	124,313
Buildings and Improvements, Gross Amounts	65,903
Total, Gross	190,216
Accumulated Depreciation	$ (1,366)
Year Build / Year Renovated	1967 - 1998
Year Acquired	2021
2401-2421 Glassell Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Orange, CA
Land, Initial Cost	$ 54,554
Buildings and Improvements, Initial Cost	16,599
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	55
Land, Gross Amounts	54,554
Buildings and Improvements, Gross Amounts	16,654
Total, Gross	71,208
Accumulated Depreciation	$ (423)
Year Build / Year Renovated	1987
Year Acquired	2021
2390-2444 American Way
Real Estate And Accumulated Depreciation [Line Items]
Location	Orange, CA
Land, Initial Cost	$ 17,214
Buildings and Improvements, Initial Cost	0
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	444
Land, Gross Amounts	17,214
Buildings and Improvements, Gross Amounts	444
Total, Gross	17,658
Accumulated Depreciation	$ 0
Year Build / Year Renovated	N/A
Year Acquired	2021
500 Dupont Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Ontario, CA
Land, Initial Cost	$ 36,810
Buildings and Improvements, Initial Cost	26,489
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	327
Land, Gross Amounts	36,810
Buildings and Improvements, Gross Amounts	26,816
Total, Gross	63,626
Accumulated Depreciation	$ (412)
Year Build / Year Renovated	1987
Year Acquired	2021
1801 St. Andrew Place
Real Estate And Accumulated Depreciation [Line Items]
Location	Santa Ana, CA
Land, Initial Cost	$ 75,978
Buildings and Improvements, Initial Cost	24,522
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	75,978
Buildings and Improvements, Gross Amounts	24,522
Total, Gross	100,500
Accumulated Depreciation	$ (396)
Year Build / Year Renovated	1987
Year Acquired	2021
5772 Jurupa Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Ontario, CA
Land, Initial Cost	$ 36,590
Buildings and Improvements, Initial Cost	20,010
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	36,590
Buildings and Improvements, Gross Amounts	20,010
Total, Gross	56,600
Accumulated Depreciation	$ (257)
Year Build / Year Renovated	1992
Year Acquired	2021
2500 Victoria Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Los Angeles, CA
Land, Initial Cost	$ 232,902
Buildings and Improvements, Initial Cost	0
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	232,902
Buildings and Improvements, Gross Amounts	0
Total, Gross	232,902
Accumulated Depreciation	$ 0
Year Build / Year Renovated	N/A
Year Acquired	2021
1010 Belmont Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Ontario, CA
Land, Initial Cost	$ 9,078
Buildings and Improvements, Initial Cost	5,751
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	9,078
Buildings and Improvements, Gross Amounts	5,751
Total, Gross	14,829
Accumulated Depreciation	$ (53)
Year Build / Year Renovated	1987
Year Acquired	2021
21515 Western Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Torrance, CA
Encumbrances	$ 13,104
Land, Initial Cost	19,280
Buildings and Improvements, Initial Cost	0
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	48
Land, Gross Amounts	19,280
Buildings and Improvements, Gross Amounts	48
Total, Gross	19,328
Accumulated Depreciation	$ 0
Year Build / Year Renovated	1991
Year Acquired	2021
12027 Greenstone Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Santa Fe Springs, CA
Land, Initial Cost	$ 8,952
Buildings and Improvements, Initial Cost	469
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	2
Land, Gross Amounts	8,952
Buildings and Improvements, Gross Amounts	471
Total, Gross	9,423
Accumulated Depreciation	$ (8)
Year Build / Year Renovated	1975
Year Acquired	2021
6027 Eastern Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Commerce, CA
Land, Initial Cost	$ 23,494
Buildings and Improvements, Initial Cost	0
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	200
Land, Gross Amounts	23,494
Buildings and Improvements, Gross Amounts	200
Total, Gross	23,694
Accumulated Depreciation	$ 0
Year Build / Year Renovated	1946
Year Acquired	2021
340-344 Bonnie Circle
Real Estate And Accumulated Depreciation [Line Items]
Location	Corona, CA
Land, Initial Cost	$ 18,044
Buildings and Improvements, Initial Cost	9,506
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1
Land, Gross Amounts	18,044
Buildings and Improvements, Gross Amounts	9,507
Total, Gross	27,551
Accumulated Depreciation	$ (54)
Year Build / Year Renovated	1994
Year Acquired	2021
14100 Vine Place
Real Estate And Accumulated Depreciation [Line Items]
Location	Cerritos, CA
Land, Initial Cost	$ 40,458
Buildings and Improvements, Initial Cost	8,660
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	40,458
Buildings and Improvements, Gross Amounts	8,660
Total, Gross	49,118
Accumulated Depreciation	$ (50)
Year Build / Year Renovated	1979
Year Acquired	2021
2280 Ward Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Simi Valley, CA
Land, Initial Cost	$ 23,301
Buildings and Improvements, Initial Cost	24,832
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	23,301
Buildings and Improvements, Gross Amounts	24,832
Total, Gross	48,133
Accumulated Depreciation	$ (140)
Year Build / Year Renovated	1995
Year Acquired	2021
20481 Crescent Bay Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	Lake Forest, CA
Land, Initial Cost	$ 16,164
Buildings and Improvements, Initial Cost	6,054
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	16,164
Buildings and Improvements, Gross Amounts	6,054
Total, Gross	22,218
Accumulated Depreciation	$ (35)
Year Build / Year Renovated	1996
Year Acquired	2021
334 El Encanto Road
Real Estate And Accumulated Depreciation [Line Items]
Location	City of Industry, CA
Land, Initial Cost	$ 9,227
Buildings and Improvements, Initial Cost	1,272
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	9,227
Buildings and Improvements, Gross Amounts	1,272
Total, Gross	10,499
Accumulated Depreciation	$ (4)
Year Build / Year Renovated	1960
Year Acquired	2021
17031-17037 Green Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	City of Industry, CA
Land, Initial Cost	$ 10,781
Buildings and Improvements, Initial Cost	3,302
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	10,781
Buildings and Improvements, Gross Amounts	3,302
Total, Gross	14,083
Accumulated Depreciation	$ (7)
Year Build / Year Renovated	1968
Year Acquired	2021
13512 Marlay Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Fontana, CA
Land, Initial Cost	$ 37,018
Buildings and Improvements, Initial Cost	15,365
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	37,018
Buildings and Improvements, Gross Amounts	15,365
Total, Gross	52,383
Accumulated Depreciation	$ (30)
Year Build / Year Renovated	1960
Year Acquired	2021
14940 Proctor Road
Real Estate And Accumulated Depreciation [Line Items]
Location	City of Industry, CA
Land, Initial Cost	$ 28,861
Buildings and Improvements, Initial Cost	0
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	28,861
Buildings and Improvements, Gross Amounts	0
Total, Gross	28,861
Accumulated Depreciation	$ 0
Year Build / Year Renovated	1962
Year Acquired	2021
2800 Casitas Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Los Angeles, CA
Land, Initial Cost	$ 33,154
Buildings and Improvements, Initial Cost	10,833
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	33,154
Buildings and Improvements, Gross Amounts	10,833
Total, Gross	43,987
Accumulated Depreciation	$ (18)
Year Build / Year Renovated	1999
Year Acquired	2021
4240 190th Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Torrance, CA
Land, Initial Cost	$ 67,982
Buildings and Improvements, Initial Cost	9,882
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	67,982
Buildings and Improvements, Gross Amounts	9,882
Total, Gross	77,864
Accumulated Depreciation	$ (22)
Year Build / Year Renovated	1966
Year Acquired	2021
2391-2393 Bateman Avenue
Real Estate And Accumulated Depreciation [Line Items]
Location	Irwindale, CA
Land, Initial Cost	$ 13,363
Buildings and Improvements, Initial Cost	9,811
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	13,363
Buildings and Improvements, Gross Amounts	9,811
Total, Gross	23,174
Accumulated Depreciation	$ (16)
Year Build / Year Renovated	2005
Year Acquired	2021
1168 Sherborn Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Corona, CA
Land, Initial Cost	$ 13,747
Buildings and Improvements, Initial Cost	9,796
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	13,747
Buildings and Improvements, Gross Amounts	9,796
Total, Gross	23,543
Accumulated Depreciation	$ (16)
Year Build / Year Renovated	2004
Year Acquired	2021
3071 Coronado Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Anaheim, CA
Land, Initial Cost	$ 29,862
Buildings and Improvements, Initial Cost	0
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	29,862
Buildings and Improvements, Gross Amounts	0
Total, Gross	29,862
Accumulated Depreciation	$ 0
Year Build / Year Renovated	1973
Year Acquired	2021
8911 Aviation Blvd
Real Estate And Accumulated Depreciation [Line Items]
Location	Los Angeles, CA
Land, Initial Cost	$ 27,138
Buildings and Improvements, Initial Cost	4,780
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	27,138
Buildings and Improvements, Gross Amounts	4,780
Total, Gross	31,918
Accumulated Depreciation	$ (10)
Year Build / Year Renovated	1971
Year Acquired	2021
1020 Bixby Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	City of Industry, CA
Land, Initial Cost	$ 10,067
Buildings and Improvements, Initial Cost	6,046
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	0
Land, Gross Amounts	10,067
Buildings and Improvements, Gross Amounts	6,046
Total, Gross	16,113
Accumulated Depreciation	$ (11)
Year Build / Year Renovated	1977
Year Acquired	2021

Schedule III - Real Estate an_3

Schedule III - Real Estate and Accumulated Depreciation - Textual (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)propertybuilding	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2010USD ($)
Real Estate And Accumulated Depreciation [Line Items]
Federal income tax basis	$ 6,700,000
Real estate investment cumulative impairment	9,500			$ 19,600
Long-term Debt, Gross	1,413,121	$ 1,223,494
Purchase price	1,887,797
Other adjustment	0	0	$ 115
Term Loan | $60 Million Term Loan Facility
Real Estate And Accumulated Depreciation [Line Items]
Long-term Debt, Gross	$ 58,108	$ 58,499
Number Of Properties Securing Loan | property	6
Safari Business Center
Real Estate And Accumulated Depreciation [Line Items]
Number of buildings | building	16
Land
Real Estate And Accumulated Depreciation [Line Items]
Real estate investment cumulative impairment	$ 2,400
Building and improvements
Real Estate And Accumulated Depreciation [Line Items]
Real estate investment cumulative impairment	$ 2,100
Building | Minimum
Real Estate And Accumulated Depreciation [Line Items]
Estimated remaining life	10 years
Building | Maximum
Real Estate And Accumulated Depreciation [Line Items]
Estimated remaining life	30 years
Site Improvements | Minimum
Real Estate And Accumulated Depreciation [Line Items]
Estimated remaining life	5 years
Site Improvements | Maximum
Real Estate And Accumulated Depreciation [Line Items]
Estimated remaining life	20 years

Schedule III - Real Estate an_4

Schedule III - Real Estate and Accumulated Depreciation - Reconciliation of Real Estate and Accumulated Depreciation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance, beginning of year	$ 4,947,955	$ 3,698,390	$ 2,716,083
Acquisition of investment in real estate	1,912,076	1,210,289	952,981
Construction costs and improvements	106,721	84,392	50,169
Disposition of investment in real estate(1)	(20,034)	(34,068)	(19,956)
Properties held for sale(1)	(13,661)	(10,353)	0
Write-off of fully depreciated assets	(1,985)	(695)	(772)
Other	0	0	(115)
Balance, End of Year	6,931,072	4,947,955	3,698,390
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance, beginning of year	(375,423)	(296,777)	(228,742)
Depreciation of investment in real estate	(112,679)	(86,159)	(72,505)
Disposition of investment in real estate(1)	6,078	5,270	3,698
Properties held for sale(1)	6,657	1,548	0
Write-off of fully depreciated assets	1,985	695	772
Balance, end of year	(473,382)	(375,423)	$ (296,777)
Purchase price	$ 1,887,797
3340 San Fernando Road
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Purchase price		$ 3,000