Rexford Industrial Realty (REXR) 10-K19 Feb 202019 FY Annual reportFinancial data

Company Profile

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
Cover Page - USD ($) $ in Millions	Dec. 31, 2019	Feb. 13, 2020	Jun. 28, 2019
Entity Listings [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2019
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
Entity Shell Company	false
Entity Public Float			$ 4,416
Entity Common Stock, Shares Outstanding (shares)		113,939,438
Documents Incorporated by Reference	Portions of the registrant’s definitive proxy statement with respect to its 2020 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	2019
Document Fiscal Period Focus	FY
Entity Central Index Key	0001571283
Current Fiscal Year End Date	--12-31
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 A Preferred Stock
Entity Listings [Line Items]
Title of 12(b) Security	5.875% Series A Cumulative Redeemable Preferred Stock
Trading Symbol	REXR-PA
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

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
ASSETS
Land	$ 1,927,098	$ 1,298,957
Buildings and improvements	1,680,178	1,332,438
Tenant improvements	72,179	60,024
Furniture, fixtures, and equipment	141	149
Construction in progress	18,794	24,515
Total real estate held for investment	3,698,390	2,716,083
Accumulated depreciation	(296,777)	(228,742)
Investments in real estate, net	3,401,613	2,487,341
Cash and cash equivalents	78,857	180,601
Rents and other receivables, net	5,889	4,944
Deferred rent receivable, net	29,671	22,228
Deferred leasing costs, net	18,688	14,002
Deferred loan costs, net	695	1,312
Acquired lease intangible assets, net	73,090	55,683
Acquired indefinite-lived intangible	5,156	5,156
Interest rate swap asset	766	8,770
Other assets	9,671	6,723
Acquisition related deposits	14,526	925
Total Assets	3,638,622	2,787,685
Liabilities
Notes payable	857,842	757,371
Interest rate swap liability	8,488	2,351
Accounts payable, accrued expenses and other liabilities	31,112	21,074
Dividends payable	21,624	15,938
Acquired lease intangible liabilities, net	59,340	52,727
Tenant security deposits	28,779	23,262
Prepaid rents	8,988	6,539
Total Liabilities	1,016,173	879,262
Rexford Industrial Realty, Inc. stockholders’ equity
Common Stock, $0.01 par value per share, 489,950,000 and 490,000,000 authorized and 113,793,300 and 96,810,504 shares outstanding at December 31, 2019 and December 31, 2018, respectively	1,136	966
Additional paid in capital	2,439,007	1,798,113
Cumulative distributions in excess of earnings	(118,751)	(88,341)
Accumulated other comprehensive income	(7,542)	6,262
Total stockholders’ equity	2,556,177	1,876,094
Noncontrolling interests	66,272	32,329
Total Equity	2,622,449	1,908,423
Total Liabilities and Equity	3,638,622	2,787,685
5.875% series A cumulative redeemable preferred stock, 3,600,000 shares outstanding at December 31, 2019 and December 31, 2018 ($90,000 liquidation preference)
Rexford Industrial Realty, Inc. stockholders’ equity
Preferred stock, $0.01 par value per share, 10,050,000 and 10,000,000 shares authorized, at December 31, 2019 and December 31, 2018, respectively	86,651	86,651
5.875% series B cumulative redeemable preferred stock, 3,000,000 shares outstanding at December 31, 2019 and December 31, 2018 ($75,000 liquidation preference)
Rexford Industrial Realty, Inc. stockholders’ equity
Preferred stock, $0.01 par value per share, 10,050,000 and 10,000,000 shares authorized, at December 31, 2019 and December 31, 2018, respectively	72,443	72,443
5.625% series C cumulative redeemable preferred stock, 3,450,000 and zero shares outstanding at December 31, 2019 and December 31, 2018, respectively ($86,250 liquidation preference)
Rexford Industrial Realty, Inc. stockholders’ equity
Preferred stock, $0.01 par value per share, 10,050,000 and 10,000,000 shares authorized, at December 31, 2019 and December 31, 2018, respectively	$ 83,233	$ 0

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	12 Months Ended
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Shares authorized (shares)	10,050,000	10,000,000
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (shares)	489,950,000	490,000,000
Common stock, shares outstanding (shares)	113,793,300	96,810,504
Series A Preferred Stock
Preferred stock, interest	5.875%	5.875%
Preferred Stock, Liquidation Preference, Value	$ 90,000,000	$ 90,000,000
Shares outstanding (shares)	3,600,000	3,600,000
Series B Preferred Stock
Preferred stock, interest	5.875%	5.875%
Preferred Stock, Liquidation Preference, Value	$ 75,000,000	$ 75,000,000
Shares outstanding (shares)	3,000,000	3,000,000
Series C Preferred Stock
Preferred stock, interest	5.625%
Preferred Stock, Liquidation Preference, Value	$ 86,250,000
Shares outstanding (shares)	3,450,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
REVENUES
Rental income	$ 264,252	$ 210,643	$ 160,417
Management, leasing and development services	406	473	493
Interest income	2,555	1,378	445
TOTAL REVENUES	267,213	212,494	161,355
OPERATING EXPENSES
Property expenses	63,272	51,671	42,139
General and administrative	30,300	25,194	21,610
Depreciation and amortization	98,891	80,042	64,852
TOTAL OPERATING EXPENSES	192,463	156,907	128,601
OTHER EXPENSES
Acquisition expenses	171	318	454
Interest expense	26,875	25,416	20,209
TOTAL EXPENSES	219,509	182,641	149,264
Equity in income from unconsolidated real estate entities	0	0	11
Gain on extinguishment of debt	0	0	25
Gain on sale of real estate	16,297	17,222	29,573
NET INCOME	64,001	47,075	41,700
Less: net income attributable to noncontrolling interests	(2,022)	(865)	(988)
NET INCOME ATTRIBUTABLE TO REXFORD INDUSTRIAL REALTY, INC.	61,979	46,210	40,712
Less: preferred stock dividends	(11,055)	(9,694)	(5,875)
Less: earnings allocated to participating securities	(447)	(378)	(410)
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS	$ 50,477	$ 36,138	$ 34,427
Net income attributable to common stockholders per share - basic (in dollars per share)	$ 0.47	$ 0.42	$ 0.48
Net income attributable to common stockholders per share - diluted (in dollars per share)	$ 0.47	$ 0.41	$ 0.48
Weighted average shares of common stock outstanding - basic (in shares)	106,407,283	86,824,235	71,198,862
Weighted average shares of common stock outstanding - diluted (in shares)	106,799,048	87,335,749	71,598,654

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 64,001	$ 47,075	$ 41,700
Other comprehensive (loss) income: cash flow hedge adjustment	(14,141)	(555)	3,425
Comprehensive income	49,860	46,520	45,125
Less: comprehensive income attributable to noncontrolling interests	(1,685)	(847)	(1,059)
Comprehensive income attributable to Rexford Industrial Realty, Inc.	$ 48,175	$ 45,673	$ 44,066

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)	Total	Total Stockholders’ Equity	Preferred Stock	Common Stock	Additional Paid-in Capital	Cumulative Distributions in Excess of Earnings	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests	Preferred Stock	Preferred StockTotal Stockholders’ Equity	Preferred StockPreferred Stock	Common Stock	Common StockTotal Stockholders’ Equity	Common StockCommon Stock	Common StockAdditional Paid-in Capital	Series C Preferred Stock	Series C Preferred StockTotal Stockholders’ Equity	Series C Preferred StockPreferred Stock
Beginning Balance at Dec. 31, 2016	$ 962,140,000	$ 939,315,000	$ 86,651,000	$ 662,000	$ 907,834,000	$ (59,277,000)	$ 3,445,000	$ 22,825,000
Beginning Balance, (in shares) at Dec. 31, 2016				66,454,375
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock									$ 75,000,000	$ 75,000,000	$ 75,000,000	$ 336,634,000	$ 336,634,000	$ 119,000	$ 336,515,000
Issuance of stock (shares)														11,968,927
Offering costs	(8,259,000)	(8,259,000)	(2,525,000)		(5,734,000)
Share-based compensation	5,560,000	2,146,000		$ 1,000	2,145,000			3,414,000
Share-based compensation (shares)				68,768
Shares acquired to satisfy employee tax withholding requirements on vesting restricted stock	(1,568,000)	(1,568,000)			(1,568,000)
Shares acquired to satisfy employee tax withholding requirements on vesting restricted stock (shares)				(57,444)
Conversion of units to common stock	0	618,000			618,000			(618,000)
Redemption of preferred stock in connection with liquidation of private REIT	(125,000)							(125,000)
Conversion of units to common stock (shares)				61,256
Net income	41,700,000	40,712,000	5,875,000			34,837,000		988,000
Other comprehensive loss	3,425,000	3,354,000					3,354,000	71,000
Preferred stock dividends ($1.468752 per series A preferred share and $1.664585 per series B preferred share)	(5,288,000)	(5,288,000)	(5,288,000)
Common stock dividends ($0.74 per share)	(42,618,000)	(42,618,000)				(42,618,000)
Distributions	(1,347,000)							(1,347,000)
Ending Balance at Dec. 31, 2017	1,365,254,000	1,340,046,000	159,713,000	$ 782,000	1,239,810,000	(67,058,000)	6,799,000	25,208,000
Ending Balance, (in shares) at Dec. 31, 2017				78,495,882
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock	565,629,000	565,629,000		$ 182,000	565,447,000
Issuance of stock (shares)				18,177,242
Offering costs	(9,109,000)	(9,109,000)	(32,000)		(9,077,000)
Share-based compensation	10,402,000	1,905,000		$ 1,000	1,904,000			8,497,000
Share-based compensation (shares)				91,529
Shares acquired to satisfy employee tax withholding requirements on vesting restricted stock	(594,000)	(594,000)			(594,000)
Shares acquired to satisfy employee tax withholding requirements on vesting restricted stock (shares)				(21,324)
Conversion of units to common stock	0	624,000		$ 1,000	623,000			(624,000)
Conversion of units to common stock (shares)				67,175
Net income	47,075,000	46,210,000	9,694,000			36,516,000		865,000
Other comprehensive loss	(555,000)	(537,000)					(537,000)	(18,000)
Preferred stock dividends ($1.468752 per series A preferred share and $1.664585 per series B preferred share)	(10,281,000)	(10,281,000)	(10,281,000)
Common stock dividends ($0.74 per share)	(57,799,000)	(57,799,000)				(57,799,000)
Distributions	(1,599,000)							(1,599,000)
Ending Balance at Dec. 31, 2018	$ 1,908,423,000	1,876,094,000	159,094,000	$ 966,000	1,798,113,000	(88,341,000)	6,262,000	32,329,000
Ending Balance, (in shares) at Dec. 31, 2018	96,810,504			96,810,504
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock												$ 649,291,000	$ 649,291,000	$ 168,000	$ 649,123,000	$ 86,250,000	$ 86,250,000	$ 86,250,000
Issuance of stock (shares)														16,817,930
Offering costs	$ (13,408,000)	(13,408,000)	(3,017,000)		(10,391,000)
Share-based compensation	10,930,000	2,353,000		$ 1,000	2,352,000			8,577,000
Share-based compensation (shares)				93,424
Shares acquired to satisfy employee tax withholding requirements on vesting restricted stock	(854,000)	(854,000)			(854,000)
Shares acquired to satisfy employee tax withholding requirements on vesting restricted stock (shares)				(24,618)
Conversion of units to common stock	0	665,000		$ 1,000	664,000			(665,000)
Conversion of units to common stock (shares)				96,060
Net income	64,001,000	61,979,000	11,055,000			50,924,000		2,022,000
Other comprehensive loss	(14,141,000)	(13,804,000)					(13,804,000)	(337,000)
Preferred stock dividends ($1.468752 per series A preferred share and $1.664585 per series B preferred share)	(11,055,000)	(11,055,000)	(11,055,000)
Common stock dividends ($0.74 per share)	(81,112,000)	(81,112,000)				(81,112,000)
Distributions	(2,143,000)							(2,143,000)
Cumulative effect of adoption of ASC 842	(222,000)	(222,000)				(222,000)
Issuance of 4.43937% cumulative redeemable convertible preferred units	27,359,000							27,359,000
Preferred unit distributions	870,000							870,000
Ending Balance at Dec. 31, 2019	$ 2,622,449,000	$ 2,556,177,000	$ 242,327,000	$ 1,136,000	$ 2,439,007,000	$ (118,751,000)	$ (7,542,000)	$ 66,272,000
Ending Balance, (in shares) at Dec. 31, 2019	113,793,300			113,793,300

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Common stock dividends declared (in dollars per share)	$ 0.74	$ 0.64	$ 0.58
Series A Preferred Stock
Preferred stock dividends declared (in dollars per share)	1.468752	1.468752	$ 1.468752
Series B Preferred Stock
Preferred stock dividends declared (in dollars per share)	1.468752	$ 1.664585
Series C Preferred Stock
Preferred stock dividends declared (in dollars per share)	$ 0.394531

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 64,001	$ 47,075	$ 41,700
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in income from unconsolidated real estate entities	0	0	(11)
Depreciation and amortization	98,891	80,042	64,852
Amortization of (below) above market lease intangibles, net	(7,907)	(5,981)	(2,270)
Amortization of loan origination fees	0	0	(150)
Deferred interest income on notes receivable	0	0	84
Gain on extinguishment of debt	0	0	(25)
Gain on sale of real estate	(16,297)	(17,222)	(29,573)
Amortization of debt issuance costs	1,383	1,332	1,147
Amortization of discount (premium) on notes payable, net	6	5	(169)
Equity based compensation expense	10,756	10,147	5,398
Straight-line rent	(7,588)	(6,477)	(4,737)
Change in working capital components:
Rents and other receivables	(875)	(1,249)	(946)
Deferred leasing costs	(8,317)	(6,212)	(5,693)
Other assets	1,024	(1,271)	(1,491)
Accounts payable, accrued expenses and other liabilities	1,573	651	4,203
Tenant security deposits	2,855	2,731	2,580
Prepaid rents	9	(796)	1,751
Net cash provided by operating activities	139,514	102,775	76,650
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of investments in real estate	(943,382)	(494,202)	(664,361)
Capital expenditures	(47,169)	(57,951)	(42,313)
Payments for deposits on real estate acquisitions	(14,526)	(25)	(2,475)
Distributions from unconsolidated real estate entities	0	0	11
Principal repayments of notes receivable	0	0	6,000
Proceeds from deposit on real estate sale	0	0	250
Proceeds from sale of real estate	32,335	44,965	95,988
Net cash used in investing activities	(972,742)	(507,213)	(606,900)
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of preferred stock, net	83,233	0	72,475
Issuance of common stock, net	638,900	556,520	330,900
Proceeds from notes payable	135,000	401,000	612,000
Repayment of notes payable	(35,158)	(311,541)	(442,818)
Debt issuance costs	(143)	(1,748)	(2,268)
Debt extinguishment costs	0	0	(193)
Redemption of preferred stock in connection with liquidation of private REIT	0	0	(125)
Dividends paid to preferred stockholders	(11,055)	(10,281)	(5,288)
Dividends paid to common stockholders	(75,550)	(53,691)	(40,207)
Distributions paid to common unitholders	(2,019)	(1,496)	(1,313)
Distributions paid to preferred unitholders	(870)	0	0
Repurchase of common shares to satisfy employee tax withholding requirements	(854)	(594)	(1,568)
Net cash provided by financing activities	731,484	578,169	521,595
(Decrease) increase in cash, cash equivalents and restricted cash	(101,744)	173,731	(8,655)
Cash, cash equivalents and restricted cash, beginning of period	180,601	6,870	15,525
Cash, cash equivalents and restricted cash, end of period	78,857	180,601	6,870
Supplemental disclosure of cash flow information:
Cash paid for interest (net of capitalized interest of $3,860, $2,053, and $1,694 for 2019, 2018 and 2017, respectively)	23,494	23,791	18,423
Operating lease right-of-use assets obtained in exchange for lease liabilities upon adoption of ASC 842 on January 1, 2019	3,262	0	0
Operating lease right-of-use assets obtained in exchange for lease liabilities subsequent to January 1, 2019	3,457	0	0
Issuance of 4.43937% cumulative redeemable convertible preferred units in connection with property acquisition	27,359	0	0
Accrual for capital expenditures	6,407	3,581	3,500
Accrual of dividends	$ 21,624	$ 15,938	$ 11,727

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Cash Flows [Abstract]
Capitalized interest, net	$ 3,860	$ 2,053	$ 1,694

Organization

Organization	12 Months Ended
Organization	Dec. 31, 2019
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 located in Southern California infill markets, and from time to time, acquire or provide mortgage debt secured by industrial property. As of December 31, 2019 , our consolidated portfolio consisted of 213 properties with approximately 26.6 million rentable square feet. In addition, we currently manage an additional 19 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 its subsidiaries (including our Operating Partnership).

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2019
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, 2019 and 2018 , 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. 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. Reclassifications In connection with the adoption of the new lease accounting standard on January 1, 2019, as further described below under —Adoption of New Accounting Pronouncements—Leases , tenant reimbursements and other income related to leases have been reclassified to “Rental income” in the consolidated statements of operations for the years ended December 31, 2018 and 2017 to conform to the 2019 financial statement presentation. 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 generally comprised of 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 (“1031 Exchange”). We include restricted cash with cash and cash equivalents in the consolidated statements of cash flows and provide a reconciliation between the balance sheet and the statement of cash flows provided that we have outstanding restricted cash balances. At December 31, 2019 and 2018 , we did no t have restricted cash balances. 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 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 rents 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, 2019 , we used discount rates ranging from 5.75% to 7.75% and capitalization rates ranging from 4.50% to 7.25% . 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 rates and the in-place 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, 2019 , 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 is based on our estimate of the current market rates for similar liabilities in effect at the acquisition date. 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 development, 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 development 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 $3.9 million , $2.1 million and $1.7 million during the years ended December 31, 2019 , 2018 and 2017 , respectively. We capitalized real estate taxes and insurance aggregating $1.3 million , $0.9 million , and $1.2 million and during the years ended December 31, 2019 , 2018 and 2017 , respectively. We capitalized compensation costs for employees who provide construction services of $2.7 million , $2.2 million and $1.9 million during the years ended December 31, 2019 , 2018 and 2017 , 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, 2019 and 2018 , we did not have any properties classified as held for sale. Deferred Leasing Costs Subsequent to the adoption of the new lease accounting standard on January 1, 2019, we only capitalize incremental direct costs of a lease that would not have been incurred had the lease not been executed. As a result, deferred leasing costs on a go-forward basis, will generally only include third-party broker commissions. Prior to January 1, 2019, under prior lease accounting guidance, we capitalized all initial direct costs which included third third-party broker commissions, as well as an allocation of internal compensation costs, including payroll, bonus and non-cash equity compensation, of employees who spent time on lease origination activities. In determining the amount of compensation costs to be capitalized for these employees, allocations were made based on estimates of the actual amount of time spent working on successful leases in comparison to time spent on unsuccessful origination efforts. We capitalized compensation costs for these employees of $1.0 million and $1.0 million during the years ended December 31, 2018 and 2017 , respectively. 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 goodwill, whenever events or changes in circumstances indicate that the carrying amounts of these assets may not be fully recoverable. Recoverability of real estate 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. 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 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. There were no impairment charges recorded to the carrying value of our properties during the years ended December 31, 2019, 2018 or 2017. Investment in Unconsolidated Real Estate Entities Investments in unconsolidated real estate entities in which we have the ability to exercise significant influence (but not control) are accounted for under the equity method of investment. Under the equity method, we initially record our investment at cost, and subsequently adjust for equity in earnings or losses and cash contributions and distributions. Any difference between the carrying amount of these investments on the balance sheet and the underlying equity in net assets is amortized as an adjustment to equity in income (loss) from unconsolidated real estate over the life of the related asset. Under the equity method of accounting, our net equity investment is reflected within the consolidated balance sheets, and our share of net income or loss from the joint venture is included within the consolidated statements of operations. Furthermore, distributions received from equity method investments are classified as either operating cash inflows or investing cash inflows in the consolidated statements of cash flows using the “nature of the distribution approach,” in which each distribution is evaluated on the basis of the source of the payment. We previously held a noncontrolling interest in a property through a joint venture (the “JV”). In 2016, following the sale of the JV’s final property, the JV distributed all of its available cash, with the exception of a small amount of working capital which was retained to cover the residual costs associated with the winding down of the JV. During the year ended December 31, 2017, all remaining assets were liquidated by the JV and we received a final distribution in the amount of $11 thousand which is reported in the line item “Equity in income from unconsolidated real estate entities” in the consolidated statements of operations. As of December 31, 2019 and 2018, we did not have any investments in unconsolidated real estate entities. Income Taxes We have elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended (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 REIT qualifying 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, 2019 , 2018 and 2017 . 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, 2019 and 2018 , 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. Revenue Recognition Our primary sources of revenue are rental income, management, leasing and development services and gains on sale of real estate. Rental Income 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. Rental income 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 real estate taxes, 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. Management, leasing and development services We provide property management services and leasing services to related party and third-party property owners 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. Valuation of Receivables We may be subject to tenant defaults and bankruptcies that could affect the collection of outstanding receivables 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. 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 $0.7 million and $1.2 million , $1.1 million for the years ended December 31, 2019 , 2018 , and 2017 respectively, as a reduction of rental income in the consolidated statements of operations. 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. 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 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. Equity Offering Costs Underwriting commissions and offering costs related to our common stock issuances 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. Earnings Per Share We calculate earnings per share (“EPS”) in accordance with ASC 260 – Earnings Per Share (“ASC 260”). Under ASC 260, nonvested share-based payment awards that contain non-forfeitable rights to dividends are participating securities and, therefore, are included in computing 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 effect of any dilutive securities. 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. 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. Adoption of New Accounting Pronouncements Leases On February 25, 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which sets out the principals for the recognition, measurement, presentation and disclosure of leases for both lessees and lessors. ASU 2016-02 was subsequently amended by the following updates: (i) ASU 2018-10, Leases: Codification Improvements to Topic 842, (ii) ASU 2018-11, Leases: Targeted Improvements, (iii) ASU 2018-20, Leases: Narrow-Scope Improvements for Lessors and (iv) ASU 2019-01, Leases: Codification Improvements (collectively referred to as “ASC 842”). ASC 842 supersedes prior lease accounting guidance contained in ASC Topic 840, Leases (“ASC 840”). On January 1, 2019, we adopted ASC 842 using the modified retrospective approach and elected to apply the provisions as of the date of adoption on a prospective basis. In making this election, we have continued to apply ASC 840 to comparative periods, including providing disclosures required by ASC 840 for these periods, and we recognized the effects of applying ASC 842 as a cumulative-effect adjustment to retained earnings as of January 1, 2019, as described below under “Lessor”. Upon adoption of ASC 842, we elected the “package of practical expedients” which allowed us to not reassess (a) whether expired or existing contracts as of January 1, 2019 are or contain leases, (b) the lease classification for any expired or existing leases as of January 1, 2019, and (c) the treatment of initial direct costs relating to any existing leases as of January 1, 2019. The package of practical expedients was made as a single election and was consistently applied to all leases that commenced before January 1, 2019. Lessor ASC 842 requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases, and operating leases. As we elected the package of practical expedients, our existing leases as of January 1, 2019, continue to be accounted for as operating leases. Upon adoption of ASC 842, we elected the practical expedient permitting lessors to elect by class of underlying asset to not separate non-lease components (for example, maintenance services, including common area maintenance) from associated lease components (the “non-separation practical expedient”) if both of the following criteria are met: (1) the timing and pattern of transfer of the lease and non-lease component(s) are the same and (2) the lease component would be classified as an operating lease if it were accounted for separately. If both criteria are met, the combined component is accounted for in accordance with ASC 842 if the lease component is the predominant component of the combined component; otherwise, the combined component is accounted for in accordance with the revenue recognition standard. We assessed the criteria above with respect to our operating leases and determined that they qualify for the non-separation practical expedient. As a result, we have accounted for and presented all rental income earned pursuant to operating leases, including tenant reimbursements, as a single line item “Rental income” in the consolidated statement of operations for the year ended December 31, 2019 . Prior to the adoption of ASC 842, we presented rental income, tenant reimbursements and other income related to leases separately in our consolidated statements of operations. For comparability, we have adjusted our comparative consolidated statement of operations for the years ended December 31, 2018 and 2017, to conform to the 2019 financial statement presentation. Under ASC 842, lessors are required to record revenues and expenses on a gross basis for lessor costs (which include real estate taxes) when these costs are reimbursed by a lessee. Conversely, lessors are required to record revenues and expenses on a net basis for lessor costs when they are paid by a lessee directly to a third party on behalf of the lessor. Prior to the adoption of ASC 842, we recorded revenues and expenses on a gross basis for real estate taxes whether they were reimbursed to us by a tenant or paid directly by a tenant to the taxing a

Investments in Real Estate

Investments in Real Estate	12 Months Ended
Investments in Real Estate	Dec. 31, 2019
Investments, All Other Investments [Abstract]
Investments in Real Estate	Investments in Real Estate Acquisition Summary The following table sets forth the wholly-owned industrial properties we acquired during the year ended December 31, 2019 : Property Submarket Date of Acquisition Rentable Square Feet Number of Buildings Contractual Purchase Price (1) (in thousands) 12821 Knott Street (2) Orange County - West 1/15/2019 120,800 1 $ 19,800 28510 Industry Drive (2) Los Angeles - San Fernando Valley 1/17/2019 46,778 1 7,765 Conejo Spectrum Business Park (2) Ventura 1/28/2019 531,378 9 106,250 2455 Ash Street (2) San Diego - North County 3/5/2019 42,508 1 6,680 25413 Rye Canyon Road (2) Los Angeles - San Fernando Valley 3/12/2019 48,075 1 5,529 1515 East 15th Street (3) Los Angeles - Central LA 4/10/2019 238,015 1 28,100 13890 Nelson Avenue (2) Los Angeles - San Gabriel Valley 4/12/2019 256,993 1 41,810 445-449 Freedom Avenue (2) Orange County - North 4/12/2019 92,647 1 17,960 2270 Camino Vida Roble (2) San Diego - North County 4/12/2019 106,311 1 16,791 980 Rancheros Drive (2) San Diego - North County 4/16/2019 48,878 1 7,895 1145 Arroyo Avenue (2) Los Angeles - San Fernando Valley 4/25/2019 147,019 1 29,862 1150 Aviation Place (2) Los Angeles - San Fernando Valley 4/25/2019 147,000 1 29,694 1175 Aviation Place (2) Los Angeles - San Fernando Valley 4/25/2019 92,455 1 17,844 1245 Aviation Place (2) Los Angeles - San Fernando Valley 4/25/2019 132,936 1 26,055 635 8th Street (2) Los Angeles - San Fernando Valley 4/25/2019 72,250 1 14,659 10015 Waples Court (2) San Diego - Central County 4/25/2019 106,412 1 21,300 19100 Susana Road (2) Los Angeles - South Bay 4/30/2019 52,714 1 13,510 15385 Oxnard Street (2) Los Angeles - San Fernando Valley 5/3/2019 71,467 1 16,800 9750-9770 San Fernando Road (2) Los Angeles - San Fernando Valley 5/16/2019 35,624 1 7,440 218 Turnbull Canyon (2) Los Angeles - San Gabriel Valley 5/31/2019 190,900 1 27,100 The Merge (2)(4) San Bernardino - Inland Empire West 6/6/2019 — — 23,200 3340 San Fernando Road (2)(5) Los Angeles - San Fernando Valley 7/3/2019 — — 3,000 5725 Eastgate Drive (2) San Diego - Central County 7/31/2019 27,267 1 8,150 18115 Main Street (2) Los Angeles - South Bay 8/29/2019 42,270 1 6,750 3150 Ana Street (2) Los Angeles - South Bay 8/29/2019 105,970 1 18,800 1402 Avenida Del Oro (6) San Diego - North County 8/30/2019 311,995 1 73,550 9607-9623 Imperial Highway (2) Los Angeles - Mid-Counties 9/5/2019 7,466 1 10,510 12200 Bellflower Boulevard (2) Los Angeles - Mid-Counties 9/5/2019 54,161 1 16,325 Storm Parkway (2) Los Angeles - South Bay 9/17/2019 267,503 8 66,165 2328 Teller Road (2) Ventura 9/25/2019 126,317 1 23,273 6277-6289 Slauson Avenue (2) Los Angeles - Central LA 10/3/2019 336,085 3 41,263 750 Manville Street (2) Los Angeles - South Bay 10/4/2019 59,996 1 11,510 8985 Crestmar Point (2) San Diego - Central County 10/25/2019 55,816 1 7,985 404-430 Berry Way (7) Orange County - North 11/5/2019 120,250 3 27,600 415-435 Motor Avenue (2) Los Angeles - San Gabriel Valley 11/13/2019 63,900 1 7,200 508 East E Street (2) Los Angeles - South Bay 11/20/2019 57,522 1 14,892 12752-12822 Monarch Street (2) Orange County - West 11/22/2019 276,585 1 34,000 1601 West Mission Boulevard (2) Los Angeles - San Gabriel Valley 12/10/2019 751,528 1 87,780 2757 East Del Amo Boulevard (2) Los Angeles - South Bay 12/11/2019 57,300 1 11,900 18250 Euclid Street (8) Orange County - West 12/27/2019 62,838 1 14,000 Total 2019 Property Acquisitions 5,365,929 57 $ 970,697 (1) Represents the gross contractual purchase price before prorations, closing costs and other acquisition related costs. (2) This acquisition was funded with available cash on hand. (3) In connection with this acquisition, we issued the seller 593,960 newly issued 4.43937% Cumulative Redeemable Convertible Preferred Units of partnership interest in the Operating Partnership. See Note 12 for additional details. (4) The Merge is a fully entitled development site on which we are constructing a 334,000 rentable square foot six -building industrial complex. We have retained the seller as fee developer to construct the project. The purchase price includes $5.1 million of consideration held back in escrow to be released to the seller/developer upon meeting certain development milestones. (5) On July 3, 2019, we acquired the fee title to the parcel of land located at 3340 North San Fernando Road in Los Angeles, California for a contract price of $3.0 million . Prior to the acquisition, we leased the parcel of land from the seller under a long-term ground lease. See Note 6 for additional details related to the ground lease. (6) This acquisition was partially funded through a 1031 Exchange using $12.3 million of net cash proceeds from the sale of our properties located at (i) 2350-2384 Orangethorpe Avenue and 1631 Placentia Avenue and (ii) 939 Poinsettia Avenue - Unit 301 and available cash on hand. (7) This acquisition was partially funded through a 1031 Exchange using $10.6 million of net cash proceeds from the sale of our property located at 13914-13932 East Valley Boulevard and available cash on hand. (8) This acquisition was partially funded through a 1031 Exchange using $9.4 million of net cash proceeds from the sale of our property located at 2350-2380 Eastman Avenue and available cash on hand. The following table sets forth the wholly-owned industrial properties we acquired during the year ended December 31, 2018 : Property Submarket Date of Acquisition Rentable Square Feet Number of Buildings Contractual Purchase Price (1) (in thousands) 13971 Norton Avenue (2) Inland Empire West 1/17/2018 103,208 1 $ 11,364 Ontario Airport Commerce Center (3) Inland Empire West 2/23/2018 213,603 3 24,122 16010 Shoemaker Avenue (4) Los Angeles - Mid-Counties 3/13/2018 115,600 1 17,218 4039 Calle Platino (5) San Diego - North County 4/4/2018 143,274 1 20,000 851 Lawrence Drive (6) Ventura 4/5/2018 49,976 1 6,600 1581 North Main Street (6) Orange County - North 4/6/2018 39,661 1 7,150 1580 West Carson Street (7) Los Angeles - South Bay 4/26/2018 43,787 1 7,500 660 & 664 North Twin Oaks Valley Road (6) San Diego - North County 4/26/2018 96,993 2 14,000 1190 Stanford Court (6) Orange County - North 5/8/2018 34,494 1 6,080 5300 Sheila Street (6) Los Angeles - Central 5/9/2018 695,120 1 121,000 15777 Gateway Circle (4) Orange County - Airport 5/17/2018 37,592 1 8,050 1998 Surveyor Avenue (4)(8) Ventura 5/18/2018 — (8) — (8) 5,821 3100 Fujita Street (4) Los Angeles - South Bay 5/31/2018 91,516 1 14,037 4416 Azusa Canyon Road (4) Los Angeles - San Gabriel Valley 6/8/2018 70,510 1 12,000 1420 Mckinley Avenue (4) Los Angeles - South Bay 6/12/2018 136,685 1 30,000 12154 Montague Street (4) Los Angeles - San Fernando Valley 6/29/2018 122,868 1 22,525 10747 Norwalk Boulevard (4) Los Angeles - Mid-Counties 7/18/2018 52,691 1 10,835 29003 Avenue Sherman (4) Los Angeles - San Fernando Valley 7/19/2018 68,123 1 9,500 16121 Carmenita Road (4) Los Angeles - Mid-Counties 8/14/2018 108,500 1 13,300 1332-1340 Rocky Point Drive (4) San Diego - North County 10/17/2018 73,747 3 10,170 6131-6133 Innovation Way (4) San Diego - North County 11/6/2018 114,572 2 24,200 263-321 Gardena Boulevard (4) Los Angeles - South Bay 11/8/2018 55,238 2 16,101 9200 Mason Avenue (4) Los Angeles - San Fernando Valley 11/30/2018 80,410 1 9,041 9230 Mason Avenue (4) Los Angeles - San Fernando Valley 11/30/2018 54,000 1 5,300 9250 Mason Avenue (4) Los Angeles - San Fernando Valley 11/30/2018 56,292 1 6,626 9171 Oso Avenue (4) Los Angeles - San Fernando Valley 11/30/2018 65,560 1 8,565 5593-5595 Fresca Drive (4) Orange County - North 11/30/2018 115,200 1 14,000 6100 Sheila Street (4) Los Angeles - Central 12/7/2018 74,527 1 18,245 14421-14441 Bonelli Street (9) Los Angeles - San Gabriel Valley 12/28/2018 148,740 1 19,500 Total 2018 Property Acquisitions 3,062,487 35 $ 492,850 (1) Represents the gross contractual purchase price before prorations, closing costs and other acquisition related costs. (2) This acquisition was partially funded through a 1031 Exchange using $10.7 million of net cash proceeds from the sale of our property located at 8900-8980 Benson Avenue and 5637 Arrow Highway and borrowings under our unsecured revolving credit facility. (3) The Ontario Airport Commerce Center is an industrial park which includes two properties located at 1900 Proforma Avenue and 1910-1920 Archibald Avenue. This acquisition was partially funded through a 1031 Exchange using $10.3 million of net cash proceeds from the sale of our property located at 700 Allen Avenue and 1851 Flower Street, borrowings under our unsecured revolving credit facility and available cash on hand. On May 9, 2018, we sold the property located at 1910-1920 Archibald Avenue (see Note 11). (4) This acquisition was funded with available cash on hand. (5) This acquisition was partially funded through a 1031 Exchange using $4.2 million of net cash proceeds from the sale of our property located at 200-220 South Grand Avenue and borrowings under our unsecured revolving credit facility. (6) This acquisition was funded with available cash on hand and borrowings under our unsecured revolving credit facility. (7) This acquisition was partially funded through a 1031 Exchange using $1.6 million of net cash proceeds from the sale of our property located at 6770 Central Avenue—Building B and borrowings under our unsecured revolving credit facility. (8) We acquired 1998 Surveyor Avenue as an under-construction building for a cost of $5.8 million and the assumption of the seller’s fixed-price construction contracts with approximately $4.4 million of remaining costs. During 2019, construction and lease-up of the 56,306 rentable square foot single-tenant building was completed. (9) This acquisition was partially funded through a 1031 Exchange using $9.8 million of net cash proceeds from the sale of three buildings located at 311 East 157th Street, 329 East 157th Street and 319 East 157th Street and available cash on hand. 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): 2019 2018 Assets: Land $ 637,478 $ 312,410 Buildings and improvements 308,950 198,362 Tenant improvements 6,553 2,739 Acquired lease intangible assets (1) 39,502 26,085 Other acquired assets (2) 747 206 Total assets acquired $ 993,230 $ 539,802 Liabilities: Acquired lease intangible liabilities (3) 15,796 41,778 Other assumed liabilities (2) 5,768 2,247 Total liabilities assumed $ 21,564 $ 44,025 Net assets acquired $ 971,666 $ 495,777 (1) For the 2019 acquisitions, acquired lease intangible assets are comprised of $36.3 million of in-place lease intangibles with a weighted average amortization period of 6.2 years and $3.2 million of above-market lease intangibles with a weighted average amortization period of 8.7 years. For the 2018 acquisitions, acquired lease intangible assets are comprised of $25.5 million of in-place lease intangibles with a weighted average amortization period of 14.8 years and $0.6 million of above-market lease intangibles with a weighted average amortization period of 7.1 years. (2) Includes other working capital assets acquired and liabilities assumed at the time of acquisition. (3) Represents below-market lease intangibles with a weighted average amortization period of 6.1 years and 26.3

Acquired Lease Intangibles

Acquired Lease Intangibles	12 Months Ended
Acquired Lease Intangibles	Dec. 31, 2019
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 leases and above-market tenant leases, and our acquisition-related intangible liabilities, including below-market tenant leases and above-market ground leases (in thousands): December 31, 2019 2018 Acquired Lease Intangible Assets: In-place lease intangibles $ 154,370 $ 119,517 Accumulated amortization (87,955 ) (68,481 ) In-place lease intangibles, net $ 66,415 $ 51,036 Above-market tenant leases $ 14,296 $ 11,125 Accumulated amortization (7,621 ) (6,478 ) Above-market tenant leases, net $ 6,675 $ 4,647 Acquired lease intangible assets, net $ 73,090 $ 55,683 Acquired Lease Intangible Liabilities: Below-market tenant leases $ (81,718 ) $ (66,388 ) Accumulated accretion 22,378 13,778 Below-market tenant leases, net $ (59,340 ) $ (52,610 ) Above-market ground lease (1) $ — $ (290 ) Accumulated accretion (1) — 173 Above-market ground lease, net (1) $ — $ (117 ) Acquired lease intangible liabilities, net $ (59,340 ) $ (52,727 ) (1) In connection with the adoption of ASC 842 on January 1, 2019, we derecognized the net above-market ground lease intangible liability of $0.1 million and adjusted the carrying amount of the ground lease right-of-use asset by a corresponding amount. See Note 2 for additional details related to the adoption of ASC 842. 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, 2019 2018 2017 In-place lease intangibles (1) $ 20,936 $ 18,135 $ 15,598 Net below market tenant leases (2) $ (7,907 ) $ (5,949 ) $ (2,238 ) Above-market ground lease (3) $ — $ (32 ) $ (32 ) (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. (3) The accretion of the above-market ground lease is recorded as a decrease to property expenses 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, 2019 , for the next five years and thereafter (in thousands): Year Ending In-place Leases (1) Net Above/(Below) (2) 2020 $ 18,687 $ (8,790 ) 2021 11,713 (5,416 ) 2022 7,278 (3,693 ) 2023 5,750 (3,081 ) 2024 4,045 (2,479 ) Thereafter 18,942 (29,206 ) Total $ 66,415 $ (52,665 ) (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
Notes Payable	Dec. 31, 2019
Debt Disclosure [Abstract]
Notes Payable	Notes Payable The following table summarizes the balance of our indebtedness as of December 31, 2019 and 2018 (in thousands): December 31, 2019 December 31, 2018 Principal amount $ 860,958 $ 761,116 Less: unamortized discount and debt issuance costs (1) (3,116 ) (3,745 ) Carrying value $ 857,842 $ 757,371 (1) 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. The following table summarizes the components and significant terms of our indebtedness as of December 31, 2019 and 2018 (dollars in thousands): December 31, 2019 December 31, 2018 Principal Amount Unamortized Discount and Debt Issuance Costs Principal Amount Unamortized Discount and Debt Issuance Costs Contractual Stated Interest Rate (1) Effective Interest Rate (2) Secured Debt $60M Term Loan (3) $ 58,499 $ (179 ) $ 58,499 $ (230 ) 8/1/2023 (3) LIBOR+1.70% 3.55 % Gilbert/La Palma (4) 2,459 (121 ) 2,617 (129 ) 3/1/2031 5.125 % 5.48 % Unsecured Debt $100M Term Loan Facility 100,000 (177 ) 100,000 (260 ) 2/14/2022 LIBOR+1.20% (5) 3.05 % (6) Revolving Credit Facility — — — — 2/12/2021 (7) LIBOR+1.10% (5)(8) 2.86 % $225M Term Loan Facility 225,000 (1,104 ) 225,000 (1,476 ) 1/14/2023 LIBOR+1.20% (5) 2.74 % (9) $150M Term Loan Facility 150,000 (866 ) 150,000 (1,028 ) 5/22/2025 LIBOR+1.50% (5) 4.37 % (10) $100M Notes 100,000 (424 ) 100,000 (500 ) 8/6/2025 4.290 % 4.37 % $125M Notes 125,000 (108 ) 125,000 (122 ) 7/13/2027 3.930 % 3.94 % $25M Series 2019A Notes 25,000 (34 ) — — 7/16/2029 3.880 % 3.89 % $75M Series 2019B Notes 75,000 (103 ) — — 7/16/2034 4.030 % 4.04 % Total $ 860,958 $ (3,116 ) $ 761,116 $ (3,745 ) (1) Reflects the contractual interest rate under the terms of the loan, as of December 31, 2019 . (2) Reflects the effective interest rate as of December 31, 2019 , which includes the effect of the amortization of discounts and debt issuance costs and the effect of interest rate swaps that are effective as of December 31, 2019 . (3) This term loan is secured by six properties. One 24 -month extension available at the borrower’s option, subject to certain terms and conditions. (4) Monthly payments of interest and principal are based on a 20 -year amortization table. (5) The LIBOR margin will range from 1.20% to 1.70% per annum for the $100.0 million term loan facility, 1.10% to 1.50% per annum for the unsecured revolving credit facility, 1.20% to 1.70% per annum for the $225.0 million term loan facility and 1.50% to 2.20% per annum for the $150.0 million term loan facility, depending on the ratio of our outstanding consolidated indebtedness to the value of our consolidated gross asset value, or leverage ratio, which is measured on a quarterly basis. (6) As of December 31, 2019 , interest on the $100.0 million term loan facility has been effectively fixed through the use of one interest rate swap. See Note 7 for details. (7) Two additional six -month extensions are available at the borrower’s option. (8) 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 will range from 0.15% to 0.30% per annum depending upon our leverage ratio. (9) As of December 31, 2019 , interest on the $225.0 million term loan facility has been effectively fixed through the use of two interest rate swaps. See Note 7 for details. (10) As of December 31, 2019 , interest on the $150.0 million term loan facility has been effectively fixed through the use of one interest rate swap. See Note 7 for details. Contractual Debt Maturities The following table summarizes the contractual debt maturities and scheduled amortization payments, excluding debt discounts and debt issuance costs, as of December 31, 2019 , and does not consider extension options available to us as noted in the table above (in thousands): 2020 $ 166 2021 566 2022 100,967 2023 282,518 2024 204 Thereafter 476,537 Total $ 860,958 Note Purchase and Guarantee Agreement On July 16, 2019, we entered into a Note Purchase and Guarantee Agreement (the “NPGA”) which provides for the private placement of $100.0 million of guaranteed senior notes, of which (i) $25.0 million are designated as 3.88% Series 2019A Guaranteed Senior Notes due July 16, 2029 (the "Series 2019A Notes") and (ii) $75.0 million are designated as 4.03% Series 2019B Guaranteed Senior Notes due July 16, 2034 (the "Series 2019B Notes" and, together with the Series 2019A Notes, the "Series 2019A and 2019B Notes"). On July 16, 2019, we completed the issuance of the Series 2019A and 2019B Notes. Interest on the Series 2019A and 2019B Notes will be payable semiannually on the sixteenth day of January and July in each year, beginning on January 16, 2020, until maturity. We may prepay at any time all, or from time to time any part of, the Series 2019A and 2019B Notes, in amounts not less than $2.5 million of the Series 2019A and 2019B Notes then outstanding at (i) 100% of the principal amount so prepaid and (ii) the Make-Whole Amount (as defined in the NPGA). Our obligations under the Series 2019A and 2019B Notes are fully and unconditionally guaranteed by us and certain of our subsidiaries. Fourth Amendment to Credit Agreement On January 16, 2018, we entered into the Fourth Amendment to Credit Agreement (the “Fourth Amendment”) to amend our Credit Agreement, dated as of January 14, 2016 (as amended from time to time) for our $225.0 million unsecured term loan facility (the “$225 Million Term Loan Facility”). Amounts outstanding under the $225 Million Term Loan Facility bear interest at a rate equal to, at our option, either (i) LIBOR plus an applicable margin that is based upon our leverage ratio or (ii) the Base Rate, as defined in the $225 Million Term Loan Facility, plus an applicable margin that is based on our leverage ratio. The Fourth Amendment decreases the applicable margin for LIBOR-based borrowings from a range of 1.50% to 2.25% per annum to a range of 1.20% to 1.70% per annum and decreases the applicable margin for Base Rate-based borrowings from a range of 0.50% to 1.25% per annum to a range of 0.20% to 0.70% per annum. If we obtain one additional investment grade rating by one or more of Standard & Poor's Financial Services (“S&P”) or Moody's Investor Services (“Moody’s”) to complement our current investment grade Fitch rating, we may elect to convert the pricing structure under the $225 Million Term Loan Facility to be based on such rating. Under this pricing structure, the Fourth Amendment decreases the applicable margin for LIBOR-based borrowings from a range of 1.40% to 2.35% per annum to a range of 0.90% to 1.75% per annum and decreases the applicable margin for Base Rate-based borrowings from a range of 0.40% to 1.35% per annum to a range of 0.00% to 0.75% per annum. $150 Million Term Loan Facility On May 22, 2018, we entered into a credit agreement for a senior unsecured term loan facility (the “$150 Million Term Loan Facility”) that initially permits aggregate borrowings of up to $150.0 million , the total of which we borrowed the same day at closing. Under the terms of the $150 Million Term Loan Facility, we may request additional incremental term loans in an aggregate amount not to exceed $100.0 million . Any increase in borrowings is subject to the satisfaction of specified conditions and the identification of lenders willing to make available such additional amounts. The maturity date of the $150 Million Term Loan Facility is May 22, 2025. Interest on the $150 Million Term Loan Facility is generally to be paid based upon, at our option, either (i) LIBOR plus an applicable Eurodollar rate margin 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 base rate margin. The applicable Eurodollar rate margin will range from 1.50% to 2.20% per annum for LIBOR-based borrowings and the applicable base rate margin will range from 0.50% to 1.20% per annum for Base Rate-based loans, depending on our leverage ratio. If we obtain one additional investment grade rating from one or more of S&P or Moody's to complement our current investment grade Fitch rating, we may elect to convert the pricing structure under the $150 Million Term Loan Facility to be based on such rating. Under this pricing structure, the applicable Eurodollar rate margin will range from 1.40% to 2.35% per annum and the applicable base rate margin will range from 0.40% to 1.35% per annum. We have the option to voluntarily prepay any amounts borrowed under the $150 Million Term Loan Facility in whole or in part at any time, subject to certain notice requirements. To the extent that we prepay all or any portion of a loan prior to May 22, 2020, we will pay a prepayment premium equal to (i) if such prepayment occurs prior to May 22, 2019, 2.00% of the principal amount so prepaid, and (ii) if such prepayment occurs on or after May 22, 2019, but prior to May 22, 2020, 1.00% of the principal amount so prepaid. Amounts borrowed under the $150 Million Term Loan Facility and repaid or prepaid may not be reborrowed. The $150 Million Term Loan Facility 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 $150 Million Term Loan Facility, all outstanding principal amounts, together with all accrued unpaid interest and other amounts owing in respect thereof, may be declared immediately due and payable. Modification of $60 Million Term Loan On June 27, 2018, we entered into the Second Modification Agreement (the “Modification Agreement”) to amend our Term Loan Agreement, dated as of July 24, 2013 (as amended from time to time) for our $60.0 million term loan (the “$60 Million Term Loan”) The Modification Agreement, among other things, (i) extends the maturity date of the $60 Million Term Loan from August 1, 2019, to August 1, 2023, (ii) decreases the interest rate from LIBOR plus 1.90% per annum to LIBOR plus 1.70% per annum, (iii) provides for one 24 -month extension option at the borrower’s option, subject to certain terms and conditions, and (iv) amends the repayment schedule of the $60 Million Term Loan by adding 36 months of interest only payments, followed by equal monthly payments of principal ( $65,250 ), plus accrued interest until maturity. Credit Facility As of December 31, 2019, we have a $450.0 million senior unsecured credit facility (the “Credit Facility”), comprised of a $350.0 million unsecured revolving credit facility (the “Revolver”) and a $100.0 million unsecured term loan facility (the “$100 Million Term Loan Facility”). The Revolver is scheduled to mature on February 12, 2021 , and has two six -month extension options available, and the $100 Million Term Loan Facility is scheduled to mature on February 14, 2022 . Under the terms of the Credit Facility, we may request additional lender commitments up to an additional aggregate $550.0 million , which may be comprised of additional revolving commitments under the Revolver, an increase to the $100 Million Term Loan Facility, additional term loan tranches or any combination of the foregoing. Interest on the Credit Facility, is generally to be paid based upon, at our option, either (i) LIBOR plus an applicable margin that is based upon our leverage ratio 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 leverage ratio. The margins for the Revolver range in amount from 1.10% to 1.50% per annum for LIBOR-based loans and 0.10% to 0.50% per annum for Base Rate-based loans, depending on our leverage ratio. The margins for the $100 Million Term Loan Facility range in amount from 1.20% to 1.70% per annum for LIBOR-based loans and 0.20% to 0.70% per annum for Base Rate-based loans, depending on our leverage ratio. If we attain one additional investment grade rating by one or more of S&P or Moody’s to complement our current investment grade Fitch rating, we may elect to convert the pricing structure under the Credit Facility to be based on such rating. In that event, the margins for the Revolver will range in amount from 0.825% to 1.55% per annum for LIBOR-based loans and 0.00% to 0.55% per annum for Base Rate-based loans, depending on such rating, and the margins for the $100 Million Term Loan Facility will range in amount from 0.90% to 1.75% per annum for LIBOR-based loans and 0.00% to 0.75% per annum for Base Rate-based loans, depending on such rating. In addition to the interest payable on amounts outstanding under the Revolver, we are required to pay an applicable facility fee, based upon our leverage ratio, on each lender's commitment amount under the Revolver, regardless of usage. The applicable facility fee will range in amount from 0.15% to 0.30% per annum, depending on our leverage ratio. In the event that we convert the pricing structure to be based on an investment-grade rating, the applicable facility fee will range in amount from 0.125% to 0.30% per annum, depending on such rating. The Credit Facility is guaranteed by the Company and by substantially all of the current and to-be-formed subsidiaries of the Operating Partnership that own an unencumbered property. The Credit Facility is not secured by the Company’s properties or by equity interests in the subsidiaries that hold such properties. The Revolver and the $100 Million Term Loan Facility may be voluntarily prepaid in whole or in part at any time without premium or penalty. Amounts borrowed under the $100 Million Term Loan Facility and repaid or prepaid may not be reborrowed. The Credit Facility 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 Facility 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 Facility, 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. As of December 31, 2019 , we did not have any borrowings outstanding under the Revolver, leaving $350.0 million available for future borrowings. On February 13, 2020, we amended and expanded the Credit Facility. For additional details see Note 16 – Subsequent Events. Debt Covenants The Credit Facility, $225 Million Term Loan Facility, $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 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 Facility, $225 Million Term Loan Facility 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, maintaining a ratio of secured debt to total asset value of not more than 40% ; • Maintaining a ratio of total secured recourse debt to total asset value of not more than 15% ; • 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 Credit Facility, $225 Million Term Loan Facility, $150 Million Term Loan Facility, $100 Million Notes, $125 Million Notes and the Series 2019A and 2019B 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 $100 Million Notes, $125 Million Notes and Series 2019A and 2019B Notes (together 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. In November 2019, Fitch affirmed the BBB rating of the Senior Notes with a stable outlook. 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, 2019 .

Operating Leases

Operating Leases	12 Months Ended
Operating Leases	Dec. 31, 2019
Leases [Abstract]
Operating Leases	Operating Leases Lessor 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. We recognized $256.3 million of rental income related to operating lease payments of which $214.5 million are for fixed lease payments and $41.8 million are for variable lease payments for the year ended December 31, 2019 . The following table sets forth the undiscounted cash flows for future minimum base rents to be received under operating leases as of December 31, 2019 (in thousands): For the year ending December 31, 2020 $ 232,304 2021 198,408 2022 160,341 2023 125,869 2024 89,630 Thereafter 307,584 Total $ 1,114,136 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. Lessee ASC 842 Current Period Disclosures Prior to July 3, 2019, we leased a parcel of land located at 3340 North San Fernando Road under a long-term ground lease, with an expiration date of June 1, 2062 , no options to renew, no purchase option, and ground rent, which reset every 10 years, equal to 8.0% of the fair market value of the land, subject to a minimum monthly rent of $12,000 . On July 3, 2019, we both acquired the fee title to the parcel of land and assumed the related ground lease from the seller/lessor, such that we became both the ground lessor and the ground lessee under the ground lease. We lease office space as part of conducting our day-to-day business. As of December 31, 2019 , our office space leases have remaining lease terms ranging from approximately 4 months to 5 years and some include options to renew. These renewal terms can extend the lease term from 3 to 5 years and are included in the lease term when it is reasonably certain that we will exercise the option. Upon the adoption of ASC 842 on January 1, 2019, we recognized lease liabilities of $3.6 million (in “Accounts payable, accrued expenses and other liabilities”) and related ROU assets of $3.3 million (in “Other assets”) on our consolidated balance sheets, based on the present value of lease payments for the remaining term of our existing leases. Operating lease ROU assets and liabilities commencing after January 1, 2019 are recognized at commencement date based on the present value of lease payments over the lease term. Upon acquisition of the parcel of land noted above, we reclassified the ROU asset to land and recorded the difference between the purchase price and the carrying amount of the lease liability immediately before the purchase as an adjustment of the carrying value of the land. As of December 31, 2019 , total ROU assets and lease liabilities were approximately $3.5 million and $3.8 million , respectively. All operating lease expense is recognized on a straight-line basis over the lease term. The tables below present financial information associated with our leases. This information is only presented as of, and for year ended December 31, 2019 because, as previously noted, we adopted ASC 842 on a prospective basis which does not require application to periods prior to adoption. Lease Cost (in thousands) Year Ended December 31, 2019 Operating lease cost (1) $ 1,044 Variable lease cost (1) 54 Sublease income (2) (162 ) Total lease cost $ 936 (1) Amounts are included in “General and administrative” and “Property expenses” in the accompanying consolidated statement of operations. (2) Amount is included in “Rental income” in the accompanying consolidated statement of operations. Other Information (in thousands) Year Ended December 31, 2019 Cash paid for amounts included in the measurement of operating lease liabilities $ 961 Right-of-use assets obtained in exchange for new operating lease liabilities (1) $ 6,720 (1) The reported amount includes $3.3 million for operating leases existing on January 1, 2019. Lease Term and Discount Rate December 31, 2019 Weighted-average remaining lease term 4.7 Weighted-average discount rate (1) 3.92 % (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, 2019 were as follows (in thousands): 2020 $ 805 2021 888 2022 779 2023 807 2024 826 Thereafter 69 Total undiscounted lease payments $ 4,174 Less imputed interest (398 ) Total lease liabilities $ 3,776 We have additional operating leases for office space of $3.4 million which have not commenced as December 31, 2019 , and as such, have not been recognized on our consolidated balance sheets. These operating leases are expected to commence in 2020 and have lease terms of approximately 5 years. ASC 840 Comparative Period Disclosure As we elected to apply the provisions of ASC 842 on a prospective basis, the following comparative period disclosure is being presented in accordance with ASC 840. The future minimum commitments under our office space leases and ground lease as of December 31, 2018, were as follows (in thousands): Office Leases Ground Lease 2019 $ 668 $ 144 2020 257 144 2021 167 144 2022 — 144 2023 — 144 Thereafter — 5,532 Total $ 1,092 $ 6,252 We recognized rental expense for our ground lease in the amount of $0.1 million and $0.1 million for the years ended December 31, 2018 and 2017 , respectively. We recognized rental expense for our office space leases in the amount of $0.7 million and $0.5 million for the years ended December 31, 2018 and 2017 , respectively. On September 14, 2016 (the “Effective Date”), we entered into a ground lease for approximately 1.58 million square feet of land located in Corona, California, with the intention to develop buildings on the site. Under the terms of the ground lease, we had up to 420 days from the Effective Date, subject to certain conditions, to satisfy and waive certain contingencies, or terminate the ground leases for any reason. On March 13, 2017, we terminated the ground lease. As a result of the termination, we wrote-off $0.3 million of previously incurred transaction costs to the line item “Acquisition expenses” in the consolidated statements of operations.
Operating Leases	Operating Leases Lessor 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. We recognized $256.3 million of rental income related to operating lease payments of which $214.5 million are for fixed lease payments and $41.8 million are for variable lease payments for the year ended December 31, 2019 . The following table sets forth the undiscounted cash flows for future minimum base rents to be received under operating leases as of December 31, 2019 (in thousands): For the year ending December 31, 2020 $ 232,304 2021 198,408 2022 160,341 2023 125,869 2024 89,630 Thereafter 307,584 Total $ 1,114,136 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. Lessee ASC 842 Current Period Disclosures Prior to July 3, 2019, we leased a parcel of land located at 3340 North San Fernando Road under a long-term ground lease, with an expiration date of June 1, 2062 , no options to renew, no purchase option, and ground rent, which reset every 10 years, equal to 8.0% of the fair market value of the land, subject to a minimum monthly rent of $12,000 . On July 3, 2019, we both acquired the fee title to the parcel of land and assumed the related ground lease from the seller/lessor, such that we became both the ground lessor and the ground lessee under the ground lease. We lease office space as part of conducting our day-to-day business. As of December 31, 2019 , our office space leases have remaining lease terms ranging from approximately 4 months to 5 years and some include options to renew. These renewal terms can extend the lease term from 3 to 5 years and are included in the lease term when it is reasonably certain that we will exercise the option. Upon the adoption of ASC 842 on January 1, 2019, we recognized lease liabilities of $3.6 million (in “Accounts payable, accrued expenses and other liabilities”) and related ROU assets of $3.3 million (in “Other assets”) on our consolidated balance sheets, based on the present value of lease payments for the remaining term of our existing leases. Operating lease ROU assets and liabilities commencing after January 1, 2019 are recognized at commencement date based on the present value of lease payments over the lease term. Upon acquisition of the parcel of land noted above, we reclassified the ROU asset to land and recorded the difference between the purchase price and the carrying amount of the lease liability immediately before the purchase as an adjustment of the carrying value of the land. As of December 31, 2019 , total ROU assets and lease liabilities were approximately $3.5 million and $3.8 million , respectively. All operating lease expense is recognized on a straight-line basis over the lease term. The tables below present financial information associated with our leases. This information is only presented as of, and for year ended December 31, 2019 because, as previously noted, we adopted ASC 842 on a prospective basis which does not require application to periods prior to adoption. Lease Cost (in thousands) Year Ended December 31, 2019 Operating lease cost (1) $ 1,044 Variable lease cost (1) 54 Sublease income (2) (162 ) Total lease cost $ 936 (1) Amounts are included in “General and administrative” and “Property expenses” in the accompanying consolidated statement of operations. (2) Amount is included in “Rental income” in the accompanying consolidated statement of operations. Other Information (in thousands) Year Ended December 31, 2019 Cash paid for amounts included in the measurement of operating lease liabilities $ 961 Right-of-use assets obtained in exchange for new operating lease liabilities (1) $ 6,720 (1) The reported amount includes $3.3 million for operating leases existing on January 1, 2019. Lease Term and Discount Rate December 31, 2019 Weighted-average remaining lease term 4.7 Weighted-average discount rate (1) 3.92 % (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, 2019 were as follows (in thousands): 2020 $ 805 2021 888 2022 779 2023 807 2024 826 Thereafter 69 Total undiscounted lease payments $ 4,174 Less imputed interest (398 ) Total lease liabilities $ 3,776 We have additional operating leases for office space of $3.4 million which have not commenced as December 31, 2019 , and as such, have not been recognized on our consolidated balance sheets. These operating leases are expected to commence in 2020 and have lease terms of approximately 5 years. ASC 840 Comparative Period Disclosure As we elected to apply the provisions of ASC 842 on a prospective basis, the following comparative period disclosure is being presented in accordance with ASC 840. The future minimum commitments under our office space leases and ground lease as of December 31, 2018, were as follows (in thousands): Office Leases Ground Lease 2019 $ 668 $ 144 2020 257 144 2021 167 144 2022 — 144 2023 — 144 Thereafter — 5,532 Total $ 1,092 $ 6,252 We recognized rental expense for our ground lease in the amount of $0.1 million and $0.1 million for the years ended December 31, 2018 and 2017 , respectively. We recognized rental expense for our office space leases in the amount of $0.7 million and $0.5 million for the years ended December 31, 2018 and 2017 , respectively. On September 14, 2016 (the “Effective Date”), we entered into a ground lease for approximately 1.58 million square feet of land located in Corona, California, with the intention to develop buildings on the site. Under the terms of the ground lease, we had up to 420 days from the Effective Date, subject to certain conditions, to satisfy and waive certain contingencies, or terminate the ground leases for any reason. On March 13, 2017, we terminated the ground lease. As a result of the termination, we wrote-off $0.3 million of previously incurred transaction costs to the line item “Acquisition expenses” in the consolidated statements of operations.

Interest Rate Swaps

Interest Rate Swaps	12 Months Ended
Interest Rate Swaps	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Interest Rate Swaps	Interest Rate Swaps 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. Derivative Instruments 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, 2019 and 2018 (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 Assets/(Derivative Liabilities) (2) Derivative Instrument Effective Date Maturity Date LIBOR Interest Strike Rate December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018 Interest Rate Swap 1/15/2015 2/15/2019 1.8260 % $ — $ 30,000 $ — $ 25 Interest Rate Swap 7/15/2015 2/15/2019 2.0100 % $ — $ 28,108 $ — $ 17 Interest Rate Swap 2/14/2018 1/14/2022 1.3490 % $ 125,000 $ 125,000 $ 489 $ 3,974 Interest Rate Swap 8/14/2018 1/14/2022 1.4060 % $ 100,000 $ 100,000 $ 277 $ 3,023 Interest Rate Swap 12/14/2018 8/14/2021 1.7640 % $ 100,000 $ 100,000 $ (332 ) $ 1,731 Interest Rate Swap 7/22/2019 11/22/2024 2.7625 % $ 150,000 $ — $ (8,156 ) $ (2,351 ) (1) Represents the notional value of swaps that are effective as of the balance sheet date presented. (2) The fair value of derivative assets are included in the line item “Interest rate swap asset” in the accompanying consolidated balance sheets and the fair value of (derivative liabilities) are 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 consolidated statements of operations for the periods presented (in thousands): Year Ended December 31, 2019 2018 2017 Interest Rate Swaps in Cash Flow Hedging Relationships: Amount of (loss) gain recognized in AOCI on derivatives $ (12,103 ) $ 649 $ 2,084 Amount of gain (loss) reclassified from AOCI into earnings as “Interest expense” $ 2,038 $ 1,204 $ (1,341 ) Total interest expense presented in the Consolidated Statement of Operations in which the effects of cash flow hedges are recorded (line item “Interest expense”) $ 26,875 $ 25,416 $ 20,209 During the next twelve months, we estimate that an additional $1.4 million 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
Fair Value Measurements	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements We have adopted FASB Accounting Standards Codification Topic 820: Fair Value Measurements and Disclosure (“ASC 820”). ASC 820 defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. ASC 820 applies to reported balances that are required or permitted to be measured at fair value under existing accounting pronouncements; accordingly, the standard does not require any new fair value measurements of reported balances. 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, 2019 , 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, 2019 and 2018 , 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 Markets for Identical Assets and Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) December 31, 2019 Interest Rate Swap Asset $ 766 $ — $ 766 $ — Interest Rate Swap Liability $ (8,488 ) $ — $ (8,488 ) $ — December 31, 2018 Interest Rate Swap Asset $ 8,770 $ — $ 8,770 $ — Interest Rate Swap Liability $ (2,351 ) $ — $ (2,351 ) $ — 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, 2019 and 2018 (in thousands). Fair Value Measurement Using Liabilities Total Fair Value Quoted Price in Active Markets for Identical Assets and Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Carrying Value Notes Payable at: December 31, 2019 $ 882,813 $ — $ — $ 882,813 $ 857,842 December 31, 2018 $ 759,491 $ — $ — $ 759,491 $ 757,371

Related Party Transactions

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2019
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 $0.4 million , $0.4 million and $0.4 million during the years ended December 31, 2019 , 2018 and 2017 , respectively, in management, leasing and development services revenue. Purchase and Sale Agreement On November 30, 2017 , we entered into a purchase and sale agreement (the "Agreement") with 6110-6114 Cahuenga Avenue, LLC (the "Buyer"), which was subsequently amended on January 2, 2018, for the sale of our property located at 200-220 South Grand Avenue for a contract price of approximately $4.5 million . Larry Schwimmer is the general partner of the Buyer and father of Howard Schwimmer, our Co-Chief Executive Officer. Prior to entering into the Agreement, the relevant facts and circumstances relating to this transaction were presented to our audit committee, in accordance with our corporate governance guidelines, and to our board of directors. This transaction was unanimously approved by our audit committee in accordance with our corporate governance guidelines. On March 7, 2018, the sale of this property was completed. On March 7, 2018, we also entered into management agreements with the Buyer and Howard Schwimmer to provide property management and leasing services for the property. Fees and commissions earned from managing this property are included in “Management, leasing and development services” in the consolidated statements of operations.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2019
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. On February 25, 2014, we acquired the property located at West 228th Street. Before purchasing the property, during the due diligence phase, we engaged a third party environmental consultant to perform various environmental site assessments to determine the presence of any environmental contaminants that might warrant remediation efforts. Based on their investigation, they determined that hazardous substances existed at the property and that additional assessment and remediation work would likely be required to satisfy regulatory requirements. The total remediation costs were estimated to be $1.3 million , which includes remediation, processing and oversight costs. To address the estimated costs associated with the environmental issues at the West 228th Street property, we entered into an Environmental Holdback Escrow Agreement (the “Holdback Agreement”) with the former owner, whereby $1.4 million was placed into an escrow account to be used to pay remediation costs. To fund the $1.4 million , the escrow holder withheld $1.3 million of the purchase price, which would have otherwise been paid to the seller at closing, and the Company funded an additional $0.1 million . According to the Holdback Agreement, the seller has no liability or responsibility to pay for remediation costs in excess of $1.3 million . As of December 31, 2019 and 2018 , we had a $0.6 million and $1.0 million contingent liability recorded in our consolidated balance sheets included in the line item “Accounts payable and accrued expenses,” reflecting the estimated remaining cost to remediate environmental liabilities at West 228th Street that existed prior to the acquisition date. As of December 31, 2019 and 2018 , we also had a $0.6 million and $1.0 million corresponding indemnification asset recorded in our consolidated balance sheets in the line item “Other assets,” reflecting the estimated costs we expect the former owner to cover pursuant to the Holdback Agreement. We expect that the resolution of the environmental matters relating to the above will not 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, 2019 , we had commitments of approximately $31.9 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, 2019 , 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. As of December 31, 2019 , 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. During the year ended December 31, 2019 , no single tenant accounted for more than 5% of our total consolidated rental income.

Dispositions

Dispositions	12 Months Ended
Dispositions	Dec. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
Dispositions	Dispositions The table below summarizes the properties we sold during the years ended December 31, 2019 , 2018 and 2017 (dollars in thousands). Property Submarket Date of Disposition Rentable Square Feet Contract Sales Price (1) Gain Recorded 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 2018 Dispositions: 8900-8980 Benson Avenue and 5637 Arrow Highway Inland Empire West 1/2/2018 88,016 $ 11,440 $ 4,029 700 Allen Avenue and 1851 Flower Street Los Angeles - San Fernando Valley 1/17/2018 25,168 $ 10,900 $ 4,753 200-220 South Grand Avenue Orange County - Airport 3/7/2018 27,200 $ 4,515 $ 1,201 6770 Central Avenue—Building B Inland Empire West 4/9/2018 11,808 $ 1,676 $ 1,113 1910-1920 Archibald Avenue Inland Empire West 5/9/2018 78,243 $ 9,050 $ 495 311 East 157th Street Los Angeles - South Bay 12/12/2018 12,000 $ 3,000 $ 1,578 329 East 157th Street Los Angeles - South Bay 12/20/2018 12,000 $ 2,675 $ 1,597 319 East 157th Street Los Angeles - South Bay 12/27/2018 24,000 $ 4,763 $ 2,456 Total 278,435 $ 48,019 $ 17,222 2017 Dispositions: 9375 Archibald Avenue Inland Empire West 3/31/2017 62,677 $ 6,875 $ 2,668 2535 Midway Drive San Diego - Central 5/17/2017 373,744 $ 40,050 $ 16,026 2811 Harbor Boulevard Orange County - Airport 6/28/2017 126,796 $ 18,700 $ 594 12345 First American Way San Diego - Central 10/31/2017 40,022 $ 7,600 $ 4,146 9401 De Soto Avenue Los Angeles - San Fernando Valley 11/2/2017 150,831 $ 23,000 $ 4,748 77-700 Enfield Lane Inland Empire East 11/29/2017 21,607 $ 2,431 $ 1,391 Total 775,677 $ 98,656 $ 29,573 (1) Represents the gross contractual sales price before commissions, prorations and other closing costs.

Stockholder's Equity

Stockholder's Equity	12 Months Ended
Stockholder's Equity	Dec. 31, 2019
Equity [Abstract]
Stockholder's Equity	Stockholders’ Equity Preferred Stock On September 20, 2019 , we completed an underwritten public offering of 3,450,000 shares of our 5.625% Series C Cumulative Redeemable Preferred Stock (the "Series C Preferred Stock") at a price of $25.00 per share. The net proceeds from the offering were approximately $83.2 million after deducting the underwriters’ discount and offering costs totaling $3.0 million . The Series C Preferred Stock has a liquidation preference of $25.00 per share and may be redeemed at the option of the Company on or after September 20, 2024, or earlier upon certain circumstances. On November 13, 2017, we completed an underwritten public offering of 3,000,000 shares of our 5.875% Series B Cumulative Redeemable Preferred Stock (the "Series B Preferred Stock") at a price of $25.00 per share. The net proceeds from the offering were approximately $72.5 million after deducting the underwriters’ discount and offering costs totaling $2.5 million . The Series B Preferred Stock has a liquidation preference of $25.00 per share and may be redeemed at the option of the Company on or after November 13, 2022, or earlier upon certain circumstances. As of December 31, 2019 and 2018, we had 3,600,000 shares of our 5.875% Series A Cumulative Redeemable Preferred Stock (the "Series A Preferred Stock") issued and outstanding. The Series A Preferred Stock has a liquidation preference of $25.00 per share and may be redeemed at the option of the Company on or after August 16, 2021, or earlier upon certain circumstances. Dividends on the Series A Preferred Stock, Series B Preferred Stock and Series C Preferred Stock (collectively, the “Series A, B and C Preferred Stock”) are cumulative and will be payable quarterly in arrears on or about the last day of March, June, September and December of each year. The Series A, B and C Preferred Stock have no stated maturity dates and will not be subject to mandatory redemption or any sinking funds. The holders of our Series A, B and C 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 Series A, B and C 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 the Series A, B and C 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 Series A, B and C Preferred Stock, upon the occurrence of a specified change of control transaction, the holders of Series A, B and C 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 Series A, B and C Preferred Stock, subject to certain adjustments. Common Stock On June 13, 2019, we established a new at-the-market equity offering program (the “$550 Million ATM Program”) pursuant to which we may sell from time to time up to an aggregate of $550.0 million of our common stock through sales agents. The $550 Million ATM Program replaces our previous $450.0 million at-the-market equity offering program which was established on February 19, 2019. In addition, we previously established a $400.0 million at-the-market equity offering program on June 13, 2018, a $300.0 million at-the-market equity offering program on September 21, 2017, a $150 million at-the-market program on June 12, 2017, and a $125 million at-the-market program on April 17, 2015. Substantially all available shares of common stock under each of the previous at-the-market programs were sold prior to establishing new programs. During the year ended December 31, 2019 , we sold a total of 16,817,930 shares 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, 2018, we sold 18,177,242 shares of our common stock under our various at-the-market equity offering programs, at a weighted average price of $31.12 per share, for gross proceeds of $565.6 million , and net proceeds of $557.1 million , after deducting the sales agents’ fee. During the year ended December 31, 2017, we sold 11,968,927 shares of our common stock under our various at-the-market equity offering programs, at a weighted average price of $28.13 per share, for gross proceeds of $336.6 million , and net proceeds of $331.6 million , after deducting the sales agent’s fee. As of December 31, 2019 , we had the capacity to issue up to an additional $350.7 million of common stock under the $550 Million ATM Program. Actual sales going forward, 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. 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, as described below, that are not owned by us. Operating Partnership Units As of December 31, 2019 , noncontrolling interests consisted of 1,832,226 OP Units and 891,547 fully-vested LTIP units and performance units which represented approximately 2.3% 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 14 for a description of LTIP units and Performance Units. During the years ended December 31, 2019 , 2018 and 2017 , we redeemed 96,060 , 67,175 and 61,256 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 $0.7 million , $0.6 million , and $0.6 million , respectively, from noncontrolling interests to total stockholders’ equity. Preferred Units - Series 1 CPOP Units On April 10, 2019, we acquired from an unaffiliated seller (the “Seller”) an industrial 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. The transaction was priced based upon a common stock price of $31.56 , equal to the trailing 30-day average closing price of our common stock as of the letter of intent date (the “Average Value”). 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 (a 44.2% conversion premium to the Average Value described above), 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. The Series 1 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 (the “Company Conversion Right”), in each case, into OP Units on a one-for-one basis, subject to adjustment to eliminate fractional units or to the extent that there are any accrued and unpaid distributions on the Series 1 CPOP Units. 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 Series 1 CPOP Units rank senior to the Operating Partnership’s OP Units, on parity with the Operating Partnership’s 5.875% series A and 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 Series 1 CPOP Units, and junior to any other class or series of partnership interest of the Operating Partnership expressly designated as ranking senior to the Series 1 CPOP Units. Pursuant to relevant accounting guidance, we analyzed the Series 1 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 Series 1 CPOP Units in temporary equity versus permanent equity. In carrying out our analyses, we evaluated the key features of the Series 1 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 Series 1 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 Series 1 CPOP Units require bifurcation and separate accounting, and (ii) the Series 1 CPOP Units met the criteria to be classified within equity, and accordingly are presented as noncontrolling interests within permanent equity in the consolidated balance sheet. Private REIT Portfolio Preferred Stock On April 11, 2016, we entered into a stock purchase agreement (the “Stock Purchase Agreement”) to acquire a private real estate investment trust (the “private REIT”) that owned a portfolio of nine industrial properties totaling approximately 1.5 million rentable square feet (the “REIT Portfolio”) from a third-party seller in exchange for approximately $191.0 million in cash, exclusive of closing costs and credits (the “REIT Portfolio Acquisition”). On April 15, 2016, pursuant to the Stock Purchase Agreement, we consummated the transaction. As part of the REIT Portfolio Acquisition, we acquired 100% of the private REIT’s common stock and 575 of 700 issued and outstanding shares of the private REIT’s 12.5% cumulative non-voting preferred stock. The remaining 125 shares of preferred stock that were not immediately redeemed by us, were classified as noncontrolling interests in our consolidated balance sheets, with a balance equal to its liquidation preference of $1,000 per share, or an aggregate liquidation preference of $125,000 . On June 22, 2017, we adopted a plan of liquidation and dissolution of the private REIT, and on December 31, 2017 , we completed the liquidation of the private REIT, by distributing all assets to the Operating Partnership. As part of the liquidation process, we paid a liquidating distribution of $1,000 per share, or an aggregate liquidating distribution of $125,000 , as payment in full for the redemption of the remaining 125 shares of preferred stock not held by us. Changes in Accumulated Other Comprehensive Income (Loss) The following table summarizes the changes in our AOCI balance for the years ended December 31, 2019 and 2018 , which consists solely of adjustments related to our cash flow hedges: Year Ended December 31, 2019 2018 Accumulated other comprehensive income - beginning balance $ 6,262 $ 6,799 Other comprehensive (loss) income before reclassifications (12,103 ) 649 Amounts reclassified from accumulated other comprehensive income to interest expense (2,038 ) (1,204 ) Net current period other comprehensive loss (14,141 ) (555 ) Less: other comprehensive loss attributable to noncontrolling interests 337 18 Other comprehensive loss attributable to common stockholders (13,804 ) (537 ) Accumulated other comprehensive (loss) income - ending balance $ (7,542 ) $ 6,262 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, 2019 , 2018 and 2017 : Common Stock Year Ended December 31, 2019 2018 2017 Ordinary Income $ 0.783269 100.00 % $ 0.623496 99.76 % $ 0.498827 95.68 % Return of Capital — — % 0.001504 0.24 % 0.022526 4.32 % Capital Gain — — % — — % — — % Total $ 0.783269 100.00 % $ 0.625000 100.00 % $ 0.521353 100.00 % Series A Preferred Stock Year Ended December 31, 2019 2018 2017 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 B Preferred Stock Series C Preferred Stock Year Ended December 31, Year Ended December 31, 2019 2018 2019 Ordinary Income $ 1.468752 100.00 % $ 1.664585 100.00 % $ 0.394531 100.00 % Return of Capital — — % — — % — — % Capital Gain — — % — — % — — % Total $ 1.468752 100.00 % $ 1.664585 100.00 % $ 0.394531 100.00 %

Incentive Award Plan

Incentive Award Plan	12 Months Ended
Incentive Award Plan	Dec. 31, 2019
Equity [Abstract]
Incentive Award Plan	Incentive Award Plan Amended and Restated 2013 Incentive Award Plan On June 11, 2018, our stockholders approved the Amended and Restated Rexford Industrial Realty, Inc. and Rexford Industrial Realty, L.P. 2013 Incentive Award Plan (the “Plan”), superseding and replacing the Rexford Industrial Realty, Inc. and Rexford Industrial Realty, L.P. 2013 Incentive Award Plan (the “Prior Plan”). Pursuant to the Plan, we may continue to make grants of stock options, restricted stock, dividend equivalents, stock payments, restricted stock units, performance shares, LTIP units of partnership interest in our Operating Partnership (“LTIP units”), performance units in our Operating Partnership (“Performance Units”), 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. The aggregate number of shares of our common stock, LTIP units and Performance Units that may be issued or transferred pursuant to the Plan is 1,770,000 plus any shares that have not been issued under the Prior Plan, including shares subject to outstanding awards under the Prior Plan that are not issued or delivered to a participant for any reason or that are forfeited by a participant prior to vesting. As of December 31, 2019 , a total of 1,267,576 shares of common stock, LTIP units and Performance Units remain available for issuance. 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 the common 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. On December 16, 2019 , the compensation committee awarded 120,243 LTIP units to Messrs. Howard Schwimmer, Michael S. Frankel, Adeel Khan and David Lanzer (collectively, the “executives”) that are subject to time-based vesting conditions (the “2019 LTIP Award”) and 294,994 Performance Units that are partially subject to market-based vesting conditions and partially subject to performance-based vesting conditions (the “2019 Performance Award”). On December 15, 2018 , the compensation committee awarded 132,875 LTIP units to the executives that are subject to time-based vesting conditions (the “2018 LTIP Award”) and 204,517 Performance Units that are partially subject to market-based vesting conditions and partially subject to performance-based vesting conditions (the “2018 Performance Award”). On December 15, 2017 , the compensation committee awarded 122,631 LTIP units to the executives that are subject to time-based vesting requirements (the “2017 LTIP Award”) and 188,250 Performance Units that are subject to market-based vesting conditions (the “2017 Market Performance Award”). 2019, 2018, and 2017 LTIP Unit Awards Each of the 2019, 2018 and 2017 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 will be 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: 2019 LTIP Award 2018 LTIP Award 2017 LTIP Award Valuation date December 16, 2019 December 15, 2018 December 15, 2017 Closing share price of common stock $ 45.74 $ 31.42 $ 30.58 Discount for post-vesting restrictions and book-up events 6.4 % 7.7 % 5.0 % Grant date fair value (in thousands) $ 5,148 $ 3,853 $ 3,563 The following table sets forth our unvested LTIP Unit activity for the years ended December 31, 2019 , 2018 and 2017 : Number of Unvested LTIP Units Weighted-Average Grant Date Fair Value per Unit Balance at December 31, 2016 241,691 $ 18.43 Granted 122,631 $ 29.05 Vested (70,837 ) $ 17.48 Balance at December 31, 2017 293,485 $ 23.10 Granted 190,318 $ 28.43 Vested (156,755 ) $ 23.29 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 2019, 2018 and 2017 Performance Unit Award s Each of the 2019, 2018 and 2017 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 Unit awards: Absolute TSR Base Units (1) Relative TSR Base Units (1) FFO Per-Share Base Units (1) Distribution Equivalent Units Total Performance Units 2019 Performance Award 118,339 74,033 85,898 16,724 294,994 2018 Performance Award 63,473 63,473 63,471 14,100 204,517 2017 Performance Award 70,000 105,000 — 13,250 188,250 (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”). 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 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 2018 Award < 18% — % < 35th Percentile — % < 12% — % “Threshold Level” 18 % 25 % 35th Percentile 25 % 12 % 25 % Jan 1, 2019 “Target Level” 24 % 60 % 55th Percentile 60 % 16.5 % 60 % to “Maximum Level” ≥ 30% 100 % ≥ 75th Percentile 100 % ≥ 21% 100 % Dec 31, 2021 2017 Award < 18% — % < 35th Percentile — % -- -- “Threshold Level” 18 % 25 % 35th Percentile 25 % -- -- Dec 15, 2017 “Target Level” 27 % 60 % 55th Percentile 60 % -- -- to “Maximum Level” ≥ 36% 100 % ≥ 75th Percentile 100 % -- -- Dec 14, 2020 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 2019, 2018 and 2017 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. 2019 Market Performance Award 2018 Market Performance Award 2017 Market Performance Award Valuation date December 16, 2019 December 15, 2018 December 15, 2017 Expected share price volatility for the Company 18.0 % 20.0 % 18.0 % Expected share price volatility for peer group companies - low end of range (1) 12.0 % 16.0 % 15.0 % Expected share price volatility for peer group companies - high end of range (1) 100.0 % 100.0 % 100.0 % Expected dividend yield 1.90 % 2.50 % 2.40 % Risk-free interest rate 1.74 % 2.80 % 1.96 % Grant date fair value (in thousands) $ 3,922 $ 2,090 $ 2,714 (1) 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. For the 2018 Market Performance Award, the median and average expected share price volatilities for the peer group companies are 23.0% and 27.1% , respectively. For the 2017 Market Performance Award, the median and average expected share price volatilities for the peer group companies are 21.0% and 25.3% , 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 will be 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 2019 FFO Per-Share Award is $2.0 million , which is based on the Company’s closing stock price on the grant date ( $45.74 on December 16, 2019) and the achievement of FFO per-share performance at the target level. The grant date fair value of the 2018 FFO Per-Share Award is $2.0 million , which is based on the Company’s closing stock price preceding the grant date ( $31.42 on December 14, 2018) and the achievement of FFO per-share performance at the maximum level. Compensation cost for the 2019 and 2018 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. 2016 and 2015 Performance Award Vestings On December 28, 2019, the three-year performance period for the 2016 performance award ended, and the following Performance Units vested: (i) 100% of the 74,000 Absolute TSR Base Units based on the Company achieving a TSR greater than 50%, the maximum level, (ii) 100% of the 111,000 Relative TSR Base Units based on the Company finishing in the 75th or greater percentile, the maximum level, of the peer group of companies included in the SNL U.S. Equity REIT Index (with respect to entities with an implied market capitalization of $1 billion to $2 billion), and (iii) 10,628 distribution equivalents, for a total of 195,628 vested Performance Units. On December 28, 2019, we canceled the remaining 3,372 distribution equivalents that did not vest. On December 14, 2018, the three -year performance period for the 2015 performance award ended, and the following Performance Units vested: (i) 100% of the 115,600 Absolute TSR Base Units based on the Company achieving a TSR greater than 50%, the maximum level, (ii) 100% of the 173,399 Relative TSR Base Units based on the Company finishing in the 75th or greater percentile, the maximum level, of the peer group of companies included in the SNL U.S. Equity REIT Index (with respect to entities with an implied market capitalization of $500 million to $1 billion), and (iii) 18,987 distribution equivalents, for a total of 307,986 vested Performance Units. On December 14, 2018, we canceled the remaining 8,012 distribution equivalents that did not vest. Restricted Common Stock Shares of our restricted common stock generally may not be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution or, subject to the consent or the plan administrator, a domestic relations order, unless and until all restrictions applicable to such shares have lapsed. Such restrictions generally expire upon vesting. Shares of our restricted common stock are participating securities and have full voting rights and nonforfeitable rights to dividends. The compensation committee has periodically awarded grants of restricted common stock to various employees of the Company, other than executives, 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. During the year ended December 31, 2019 , we granted 97,527 shares of restricted common stock to non-executive employees. The grant date fair value of these awards was $3.4 million based on the closing share price of the Company’s common stock on the date of grant, which ranged from $34.20 to $47.90 per share. 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 year ended December 31, 2019 , each of our non-employee directors (other than Mr. Ziman) were granted 2,264 shares of restricted common stock with a grant date fair value of $85,000 and Mr. Ziman was granted 1,864 shares of restricted common stock with a grant date fair value of $70,000 , based on the $37.54 closing share price 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, 2019 , 2018 and 2017 : Number of Unvested Shares of Restricted Common Stock Weighted-Average Grant Date Fair Value per Share Balance at December 31, 2016 287,827 $ 15.92 Granted 104,727 $ 23.78 Forfeited (35,959 ) $ 18.74 Vested (1)(2) (165,900 ) $ 15.43 Balance at December 31, 2017 190,695 $ 20.13 Granted 104,560 $ 27.72 Forfeited (13,031 ) $ 23.51 Vested (1)(2) (81,826 ) $ 19.40 Balance at December 31, 2018 200,398 $ 24.17 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 (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 $2.9 million , $2.4 million and $4.5 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. (2) Total shares vested include 24,618 , 21,324 and 57,444 shares of common stock that were tendered by employees during the years ended December 31, 2019 , 2018 and 2017 , 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, 2019 2018 2017 Expensed share-based compensation (1) $ 10,756 $ 10,147 $ 5,398 Capitalized share-based compensation (2) 174 255 162 Total share-based compensation $ 10,930 $ 10,402 $ 5,560 (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, 2018 and 2017, amounts capitalized relate to employees who provide construction or leasing services and are included in “Building and improvements” and “Deferred leasing costs, net” in the consolidated balance sheets. For the year ended December 31, 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 2019, the compensation committee chose to provide Messrs. Schwimmer and Frankel’s 2019 annual bonuses partly in cash and partly in LTIP units. 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 the grant of fully-vested LTIP Units in February 2020. In May 2018, the compensation committee chose to provide Messrs. Schwimmer and Frankel’s 2018 annual bonuses partly in cash and partly in LTIP units. Accordingly, on February 15, 2019, at the same time that annual bonuses were paid to the executives, Messrs. Schwimmer and Frankel were each granted 24,641 LTIP Units that were fully vested on the grant date. Share-based compensation expense for the year ended December 31, 2018, includes $1.7 million for the portion of Messrs. Schwimmer and Frankel’s 2018 accrued bonus that was settled with these fully-vested LTIP Units. In February 2018, the compensation committee chose to provide Messrs. Schwimmer and Frankel’s 2017 annual bonuses partly in cash and partly in LTIP units. Accordingly, on February 21, 2018, at the same time that annual bonuses were paid to the executives, Messrs. Schwimmer and Frankel were each granted 22,517 LTIP units that were fully vested on the grant date. Share-based compensation expense for the year ended December 31, 2018, includes $1.2 million for the portion of Messrs. Schwimmer and Frankel’s 2017 accrued bonus that was settled with these fully-vested LTIP Units. As of December 31, 2019 , total unrecognized compensation cost related to all unvested share-based awards was $21.4 million and is expected to be recognized over a weighted average remaining period of 27 months .

Earnings Per Share

Earnings Per Share	12 Months Ended
Earnings Per Share	Dec. 31, 2019
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, 2019 2018 2017 Numerator: Net income $ 64,001 $ 47,075 $ 41,700 Less: Preferred stock dividends (11,055 ) (9,694 ) (5,875 ) Less: Net income attributable to noncontrolling interests (2,022 ) (865 ) (988 ) Less: Net income attributable to participating securities (447 ) (378 ) (410 ) Net income attributable to common stockholders $ 50,477 $ 36,138 $ 34,427 Denominator: Weighted average shares of common stock outstanding - basic 106,407,283 86,824,235 71,198,862 Effect of dilutive securities - performance units 391,765 511,514 399,792 Weighted average shares of common stock outstanding - diluted 106,799,048 87,335,749 71,598,654 Earnings per share - Basic Net income attributable to common stockholders $ 0.47 $ 0.42 $ 0.48 Earnings per share - Diluted: Net income attributable to common stockholders $ 0.47 $ 0.41 $ 0.48 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 over a three -year performance period, are included as contingently issuable shares in the calculation of diluted EPS when TSR 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 Series 1 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.

Quarterly Information (unaudite

Quarterly Information (unaudited)	12 Months Ended
Quarterly Information (unaudited)	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Quarterly Information (unaudited)	Quarterly Information (unaudited) The following tables set forth selected quarterly information for the years ended December 31, 2019 and 2018 (in thousands except per share amounts): Three Months Ended December 31, 2019 September 30, 2019 June 30, 2019 March 31, 2019 Total revenues $ 74,399 $ 68,061 $ 64,390 $ 60,363 Net income $ 24,382 $ 12,948 $ 15,954 $ 10,717 Net income attributable to common stockholders $ 19,904 $ 9,746 $ 12,848 $ 7,979 Net income attributable to common stockholders per share - basic $ 0.18 $ 0.09 $ 0.12 $ 0.08 Net income attributable to common stockholders per share - diluted $ 0.18 $ 0.09 $ 0.12 $ 0.08 Three Months Ended December 31, 2018 September 30, 2018 June 30, 2018 March 31, 2018 Total revenues $ 57,008 $ 55,194 $ 51,756 $ 48,536 Net income $ 15,207 $ 8,965 $ 7,819 $ 15,084 Net income attributable to common stockholders $ 12,413 $ 6,307 $ 5,172 $ 12,246 Net income attributable to common stockholders per share - basic $ 0.13 $ 0.07 $ 0.06 $ 0.16 Net income attributable to common stockholders per share - diluted $ 0.13 $ 0.07 $ 0.06 $ 0.15

Subsequent Events

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Dividends Declared On February 10, 2020 , our board of directors declared a quarterly cash dividend in the amount of $0.215 per share of common stock and a quarterly cash distribution in the amount of $0.215 per OP Unit, to be paid on April 15, 2020 , to holders of record as of March 31, 2020 . Also on February 10, 2020 , our board of directors declared a quarterly cash dividend in the amount of $0.367188 per share of the Series A Preferred Stock, $0.367188 per share of the Series B Preferred Stock, $0.351563 per share of the Series C Preferred Stock and $0.505085 per Series 1 CPOP Unit to be paid on March 31, 2020 , to holders of record as of March 13, 2020 . Third Amended and Restated Credit Facility On February 13, 2020 , we amended our existing $450 million Credit Facility by entering into a Third Amended and Restated Credit Agreement (the “Amended Credit Agreement”), which provides for a $600.0 million senior unsecured credit facility, comprised of a $500.0 million unsecured revolving credit facility (the "Amended Revolver") and a $100.0 million unsecured term loan facility (the "Amended Term Loan Facility"). The Amended Revolver is scheduled to mature on February 13, 2024 , and has two six-month extension options available, and the Amended Term Loan Facility is scheduled to mature on February 14, 2022 . Subject to certain terms and conditions set forth in the Amended Credit Agreement, we may request additional lender commitments up to an additional aggregate $900.0 million , which may be comprised of additional revolving commitments under the Amended Revolver, an increase to the Amended Term Loan Facility, additional term loan tranches or any combination of the foregoing. Interest on the Amended Credit Agreement is generally to be paid based upon, at our option, either (i) LIBOR plus an applicable margin that is based upon our leverage ratio 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 leverage ratio. The margins for the Amended Revolver range in amount from 1.05% to 1.50% per annum for LIBOR-based loans and 0.05% to 0.50% per annum for Base Rate-based loans, depending on our leverage ratio. The margins for the Amended Term Loan Facility range in amount from 1.20% to 1.70% per annum for LIBOR-based loans and 0.20% to 0.70% for Base Rate-based loans, depending on our leverage ratio. If we attain one additional investment grade rating by one or more of S&P or Moody’s to complement our current investment grade Fitch rating, we may elect to convert the pricing structure under the Amended Credit Agreement to be based on such rating. In that event, the margins for the Amended Revolver will range in amount from 0.725% to 1.40% for LIBOR-based loans and 0.00% to 0.45% for Base Rate-based loans, depending on such rating. The margins for the Amended Term Loan Facility will range in amount from 0.85% to 1.65% per annum for LIBOR-based loans and 0.00% to 0.65% per annum for Base Rate-based loans, depending on such rating. In addition to the interest payable on amounts outstanding under the Amended Revolver, we are required to pay an applicable facility fee, based upon our leverage ratio, on each lender's commitment amount under the Amended Revolver, regardless of usage. The applicable facility fee will range in amount from 0.15% to 0.30% per annum, depending on our leverage ratio. In the event that we convert the pricing structure to be based on an investment-grade rating, the applicable facility fee will range in amount from 0.125% to 0.30% per annum, depending on such rating.

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
Schedule III - Real Estate and Accumulated Depreciation	Dec. 31, 2019
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 $ 9,869 $ 3,875 $ 12,276 $ 16,151 $ (6,855 ) 1965, 2005 / 2003 2002 300 South Lewis Road Camarillo, CA -- (4) 4,150 3,050 8,709 4,150 11,759 15,909 (6,438 ) 1960-1963 / 2006 2003 1400 South Shamrock Ave. Monrovia, CA -- 2,317 2,534 921 2,317 3,455 5,772 (2,262 ) 1957, 1962 / 2004 2003 2220-2260 Camino del Sol Oxnard, CA -- (4) 868 — 4,178 868 4,178 5,046 (1,803 ) 2005 2003 14250-14278 Valley Blvd. La Puente, CA -- 2,539 2,020 3,002 2,539 5,022 7,561 (2,806 ) 1974 / 2007 2003 2300-2386 East Walnut Ave. Fullerton, CA -- (4) 6,817 6,089 1,188 6,817 7,277 14,094 (4,096 ) 1985-1986 / 2005 2004 15140 & 15148 Bledsoe St., 13065 - 13081 Bradley Ave. Sylmar, CA -- 2,525 3,380 6,481 2,525 9,861 12,386 (4,331 ) 1969, 2008 / 2016 2004 28340 - 28400 Avenue Crocker Valencia, CA -- 2,666 3,343 3,723 2,666 7,066 9,732 (3,455 ) 1987 / 2006 / 2015 2004 21-29 West Easy St. Simi Valley, CA -- 2,346 4,522 2,312 2,346 6,834 9,180 (3,663 ) 1991 / 2006 2004 10439-10477 Roselle St. San Diego, CA -- 4,711 3,199 3,133 4,711 6,332 11,043 (1,380 ) 1970 / 2007 2013 2575 Pioneer Ave. Vista, CA -- 1,784 2,974 1,955 1,784 4,929 6,713 (2,610 ) 1988 / 2006 2004 9641 - 9657 Santa Fe Springs Rd. Santa Fe Springs, CA -- 3,740 260 7,022 3,740 7,282 11,022 (2,395 ) 1982 / 2009 2006 28159 Avenue Stanford Valencia, CA -- 1,849 6,776 4,933 1,849 11,709 13,558 (5,456 ) 1987 / 2008 / 2015 2006 15715 Arrow Highway Irwindale, CA -- (4) 3,604 5,056 (85 ) 3,604 4,971 8,575 (2,531 ) 1989 2006 2431-2465 Impala Dr. Carlsbad, CA -- 5,470 7,308 4,031 5,470 11,339 16,809 (5,878 ) 1983 / 2006 2006 6200 & 6300 Yarrow Dr. Carlsbad, CA -- 5,001 7,658 3,732 5,001 11,390 16,391 (6,329 ) 1977-1988 / 2006 2005 6231 & 6241 Yarrow Dr. Carlsbad, CA -- 3,473 5,119 1,157 3,473 6,276 9,749 (3,396 ) 1977 / 2006 2006 9160 - 9220 Cleveland Ave., 10860 6th St. Rancho Cucamonga, CA -- 3,647 11,867 2,737 3,647 14,604 18,251 (8,160 ) 1988-1989 / 2006 2006 18118-18120 S. Broadway St. Carson, CA -- 3,013 2,161 867 3,013 3,028 6,041 (824 ) 1957 / 1989, 2017 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 901 W. Alameda Ave. Burbank, CA -- 6,304 2,996 5,327 6,304 8,323 14,627 (4,249 ) 1969 / 2009 2007 1938-1946 E. 46th St. Vernon, CA -- 7,015 7,078 1,705 7,015 8,783 15,798 (3,902 ) 1961, 1983 / 2008-2010 2007 89-91 N. San Gabriel Blvd., 2670-2674 Walnut Ave., 2675 Nina St. Pasadena, CA -- 1,759 2,834 2,028 1,759 4,862 6,621 (1,917 ) 1947, 1985 / 2009 2008 9220-9268 Hall Rd. Downey, CA -- 6,974 2,902 226 6,974 3,128 10,102 (1,520 ) 2008 2009 131 W. 33rd St. National City, CA -- 2,390 5,029 535 2,390 5,564 7,954 (2,839 ) 1969 / 2008 2006 5803 Newton Dr. Carlsbad, CA -- 3,152 7,155 1,709 1,692 5,744 7,436 (3,150 ) 1997-1999 / 2009 2007 929, 935, 939 & 951 Poinsettia Ave. Vista, CA -- 4,213 5,584 859 2,678 4,587 7,265 (2,226 ) 1989 / 2007 2008 3720-3750 W. Warner Ave. Santa Ana, CA -- 3,028 1,058 1,016 3,028 2,074 5,102 (993 ) 1973 / 2008 2007 6750 Unit C - 6780 Central Ave. Riverside, CA -- 2,659 911 1,104 1,153 1,595 2,748 (823 ) 1978 2007 1050 Arroyo Ave. San Fernando, CA -- 3,092 1,900 536 3,092 2,436 5,528 (687 ) 1969 / 2012 2010 600-650 South Grand Ave. Santa Ana, CA -- 4,298 5,075 1,406 4,298 6,481 10,779 (1,853 ) 1988 2010 121-125 N. Vinedo Ave. Pasadena, CA -- 3,481 3,530 15 3,481 3,545 7,026 (1,225 ) 1953 / 1993 2011 3441 West MacArthur Blvd. Santa Ana, CA -- 4,179 5,358 5 4,179 5,363 9,542 (1,356 ) 1973 2011 6701 & 6711 Odessa Ave. Van Nuys, CA -- 1,582 1,856 145 1,582 2,001 3,583 (493 ) 1970-1972 / 2012 2011 10700 Jersey Blvd. Rancho Cucamonga, CA -- 3,158 4,860 865 3,158 5,725 8,883 (1,609 ) 1988-1989 2011 15705, 15709 Arrow Highway & 5220 Fourth St. Irwindale, CA -- 3,608 2,699 388 3,608 3,087 6,695 (913 ) 1987 2011 20920-20950 Normandie Ave. Torrance, CA -- 3,253 1,605 588 3,253 2,193 5,446 (641 ) 1989 2011 14944, 14946, 14948 Shoemaker Ave. Santa Fe Springs, CA -- 3,720 2,641 577 3,720 3,218 6,938 (945 ) 1978 / 2012 2011 6423-6431 & 6407-6119 Alondra Blvd. Paramount, CA -- 1,396 925 184 1,396 1,109 2,505 (274 ) 1986 2011 1400 S. Campus Ave. Ontario, CA -- 3,266 2,961 2 3,266 2,963 6,229 (1,540 ) 1964-1966, 1973, 1987 2012 15041 Calvert St. Van Nuys, CA -- 4,096 1,570 272 4,096 1,842 5,938 (422 ) 1971 2012 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 701 Del Norte Blvd. Oxnard, CA -- 3,082 6,230 919 3,082 7,149 10,231 (1,819 ) 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 3,244 17,978 42,715 60,693 (10,819 ) 1966, 1992, 1993, 1994 2013 1661 240th St. Los Angeles, CA -- 3,043 2,550 3,904 3,043 6,454 9,497 (1,734 ) 1975 / 1995 2013 8101-8117 Orion Ave. Van Nuys, CA -- 1,389 3,872 439 1,389 4,311 5,700 (1,130 ) 1978 2013 18310-18330 Oxnard St. Tarzana, CA -- 2,497 5,494 1,089 2,497 6,583 9,080 (1,752 ) 1973 2013 1100-1170 Gilbert St. & 2353-2373 La Palma Ave. Anaheim, CA 2,338 (5) 4,582 5,135 1,798 4,582 6,933 11,515 (1,767 ) 1972 / 1990 / 2013 2013 280 Bonita Ave., 2743 Thompson Creek Rd. Pomona, CA -- 8,001 17,734 39 8,001 17,773 25,774 (4,023 ) 1983 2013 2950 Madera Rd. Simi Valley, CA -- (4) 3,601 8,033 2 3,601 8,035 11,636 (1,832 ) 1988 / 2005 2013 10635 Vanowen St. Burbank, CA -- 1,517 1,833 765 1,517 2,598 4,115 (697 ) 1977 2013 7110 Rosecrans Ave. Paramount, CA -- 3,117 1,894 2,165 3,117 4,059 7,176 (662 ) 1972 / 2015, 2019 2014 14723-14825 Oxnard St. Van Nuys, CA -- 4,458 3,948 1,718 4,458 5,666 10,124 (1,285 ) 1964 / 1968 2014 845, 855, 865 S Milliken Ave & 4317, 4319 Santa Ana St. Ontario, CA -- 2,260 6,043 638 2,260 6,681 8,941 (1,772 ) 1985 2014 1500-1510 W. 228th St. Torrance, CA -- 2,428 4,271 4,217 2,428 8,488 10,916 (1,382 ) 1963 / 1968, 2017 2014 24105 Frampton Ave. Torrance, CA -- 2,315 1,553 2,071 2,315 3,624 5,939 (607 ) 1974 / 2016 2014 1700 Saturn Way Seal Beach, CA -- 7,935 10,525 328 7,935 10,853 18,788 (2,386 ) 2006 2014 2980 & 2990 N San Fernando Road Burbank, CA -- 6,373 7,356 550 6,373 7,906 14,279 (2,036 ) 1950 / 2004 2014 20531 Crescent Bay Dr. Lake Forest, CA -- 2,181 4,012 417 2,181 4,429 6,610 (1,034 ) 1998 2014 2610 & 2701 S. Birch Street Santa Ana, CA -- 9,305 2,115 4,390 9,305 6,505 15,810 (1,192 ) 1965 / 2016 2014 710 South Dupont Avenue & 4051 Santa Ana Street Ontario, CA -- 3,725 6,145 224 3,725 6,369 10,094 (1,543 ) 2001 2014 9755 Distribution Ave. San Diego, CA -- 1,863 3,211 (45 ) 1,863 3,166 5,029 (696 ) 1974 2014 9855 Distribution Ave San Diego, CA -- 2,733 5,041 87 2,733 5,128 7,861 (1,172 ) 1983 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 9340 Cabot Drive San Diego, CA -- 4,311 6,126 951 4,311 7,077 11,388 (1,514 ) 1975 / 1976 2014 9404 Cabot Drive San Diego, CA -- 2,413 3,451 147 2,413 3,598 6,011 (788 ) 1975 / 1976 2014 9455 Cabot Drive San Diego, CA -- 4,423 6,799 346 4,423 7,145 11,568 (1,859 ) 1975 / 1976 2014 14955-14971 E Salt Lake Ave City of Industry, CA -- 5,125 5,009 816 5,125 5,825 10,950 (1,418 ) 1979 2014 5235 East Hunter Ave. Anaheim, CA -- 5,240 5,065 779 5,240 5,844 11,084 (1,612 ) 1987 2014 3880 West Valley Blvd. Pomona, CA -- 3,982 4,796 3,599 3,982 8,395 12,377 (1,742 ) 1980 / 2017 2014 1601 Alton Pkwy. Irvine, CA -- 7,638 4,946 8,436 7,638 13,382 21,020 (1,656 ) 1974 / 2018 2014 3116 W. Avenue 32 Los Angeles, CA -- 3,761 6,729 2,403 3,761 9,132 12,893 (1,642 ) 1974 2014 21040 Nordoff Street; 9035 Independence Avenue; 21019 - 21045 Osborne Street Chatsworth, CA -- 7,230 9,058 1,951 7,230 11,009 18,239 (2,578 ) 1979 / 1980 2014 24935 & 24955 Avenue Kearny Santa Clarita, CA -- 4,773 5,970 756 4,773 6,726 11,499 (1,644 ) 1988 2014 605 8th Street San Fernando, CA -- 2,393 2,742 1,744 2,393 4,486 6,879 (788 ) 1991 / 2015 2014 9120 Mason Ave. Chatsworth, CA -- 9,224 19,346 1 9,224 19,347 28,571 (3,986 ) 1967 / 1999 2014 7900 Nelson Rd. Los Angeles, CA -- 8,495 15,948 2,071 8,495 18,019 26,514 (3,416 ) 1998 / 2015 2014 679-691 S Anderson St. Los Angeles, CA -- 1,723 4,767 1,342 1,723 6,109 7,832 (1,005 ) 1992 / 2017 2014 10509 Business Drive Fontana, CA -- 3,505 5,237 554 3,505 5,791 9,296 (1,296 ) 1989 2014 13231 Slover Avenue Fontana, CA -- 2,812 4,739 598 2,812 5,337 8,149 (1,092 ) 1990 2014 240 W Ivy Avenue Inglewood, CA -- 2,064 3,675 3,065 2,064 6,740 8,804 (962 ) 1981 2014 3000 Paseo Mercado, 3120-3150 Paseo Mercado Oxnard, CA -- 2,616 8,311 847 2,616 9,158 11,774 (2,039 ) 1988 2014 1800 Eastman Ave. Oxnard, CA -- 842 2,209 70 842 2,279 3,121 (587 ) 2009 2014 2360-2364 E. Sturgis Road Oxnard, CA -- 1,128 2,726 501 1,128 3,227 4,355 (821 ) 1989 2014 201 Rice Ave. & 2400-2420 Celsius Oxnard, CA -- 3,487 9,589 345 3,487 9,934 13,421 (2,190 ) 2008 2014 11120, 11160, 11200 Hindry Ave Los Angeles, CA -- 3,478 7,834 327 3,478 8,161 11,639 (1,689 ) 1992 / 1994 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 6970-7170 & 7310-7374 Convoy Ct. San Diego, CA -- 10,805 18,426 1,766 10,805 20,192 30,997 (4,455 ) 1971 2014 12907 Imperial Highway Santa Fe Springs, CA -- 5,462 6,678 — 5,462 6,678 12,140 (1,316 ) 1997 2015 8902-8940 Activity Road San Diego, CA -- 9,427 8,103 1,640 9,427 9,743 19,170 (2,070 ) 1987 / 1997 2015 1210 N Red Gum St. Anaheim, CA -- 3,326 4,020 238 3,326 4,258 7,584 (998 ) 1985 2015 9615 Norwalk Blvd. Santa Fe Springs, CA -- 8,508 1,134 837 8,508 1,971 10,479 (400 ) 1975 2015 16221 Arthur St. Cerritos, CA -- 2,979 3,204 190 2,979 3,394 6,373 (687 ) 1979 2015 2588 & 2605 Industry Way Lynwood, CA -- 8,738 9,415 — 8,738 9,415 18,153 (1,889 ) 1969 / 1971 2015 425 S. Hacienda Blvd. City of Industry, CA -- 4,010 3,050 117 4,010 3,167 7,177 (640 ) 1997 2015 6700 S Alameda St. Huntington Park, CA -- 3,502 9,279 257 3,502 9,536 13,038 (2,243 ) 1990 / 2008 2015 12720-12860 Danielson Ct. Poway, CA -- 6,902 8,949 477 6,902 9,426 16,328 (2,486 ) 1999 2015 10950 Norwalk Blvd & 12241 Lakeland Rd. Santa Fe Springs, CA -- 3,446 1,241 84 3,446 1,325 4,771 (372 ) 1982 2015 610-760 W Hueneme Rd. & 5651-5721 Perkins Rd. Oxnard, CA -- 3,310 5,806 892 3,310 6,698 10,008 (1,618 ) 1985 2015 10701-10719 Norwalk Blvd. Santa Fe Springs, CA -- 3,357 3,527 124 3,357 3,651 7,008 (718 ) 2004 2015 6020 Sheila St. Commerce, CA -- 4,590 7,772 581 4,590 8,353 12,943 (1,453 ) 2000 2015 9805 6th St. Rancho Cucamonga, CA -- 3,503 3,204 820 3,503 4,024 7,527 (939 ) 1986 2015 16321 Arrow Hwy. Irwindale, CA -- 3,087 4,081 453 3,087 4,534 7,621 (783 ) 1955 / 2001 2015 601-605 S. Milliken Ave. Ontario, CA -- 5,479 7,036 1,003 5,479 8,039 13,518 (1,781 ) 1987 / 1988 2015 1065 E. Walnut Ave. Carson, CA -- 10,038 4,380 3,580 10,038 7,960 17,998 (1,703 ) 1974 2015 12247 Lakeland Rd. Santa Fe Springs, CA -- 3,481 776 1,159 3,481 1,935 5,416 (305 ) 1971 / 2016 2015 17311 Nichols Lane Huntington Beach, CA -- 7,988 8,728 3 7,988 8,731 16,719 (1,519 ) 1993 / 2014 2015 8525 Camino Santa Fe San Diego, CA -- 4,038 4,055 774 4,038 4,829 8,867 (839 ) 1986 2016 28454 Livingston Avenue Valencia, CA -- 5,150 9,666 68 5,150 9,734 14,884 (1,598 ) 2007 2016 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 20 Icon Lake Forest, CA -- 12,576 8,817 128 12,576 8,945 21,521 (2,030 ) 1999 / 2015 2016 16425 Gale Avenue City of Industry, CA -- 18,803 6,029 315 18,803 6,344 25,147 (1,114 ) 1976 2016 2700_2722 Fairview Street Santa Ana, CA -- 10,144 5,989 1,323 10,144 7,312 17,456 (1,082 ) 1964 / 1984, 2018 2016 12131 Western Avenue Garden Grove, CA -- 15,077 11,149 4,685 15,077 15,834 30,911 (2,145 ) 1987 / 2007, 2017 2016 9 Holland Irvine, CA -- 13,724 9,365 78 13,724 9,443 23,167 (1,623 ) 1980 / 2013 2016 15996 Jurupa Avenue Fontana, CA -- 7,855 12,056 4 7,855 12,060 19,915 (1,869 ) 2015 2016 11127 Catawba Avenue Fontana, CA -- 5,562 8,094 4 5,562 8,098 13,660 (1,261 ) 2015 2016 13550 Stowe Drive Poway, CA -- 9,126 8,043 — 9,126 8,043 17,169 (1,562 ) 1991 2016 10750-10826 Lower Azusa Road El Monte, CA -- 4,433 2,961 1,148 4,433 4,109 8,542 (680 ) 1975 2016 525 Park Avenue San Fernando, CA -- 3,830 3,887 113 3,830 4,000 7,830 (657 ) 2003 2016 3233 Mission Oaks Blvd. Camarillo, CA -- 13,791 10,017 13,022 13,791 23,039 36,830 (2,248 ) 1980-1982 / 2014, 2018, 2019 2016 1600 Orangethorpe Ave. & 1335-1375 Acacia Ave. Fullerton, CA -- 26,659 12,673 3,592 26,659 16,265 42,924 (2,816 ) 1968/1985 2016 14742-14750 Nelson Avenue City of Industry, CA -- 13,463 1,680 16,917 13,463 18,597 32,060 (875 ) 1969 / 2018 2016 3927 Oceanic Drive Oceanside, CA -- 2,667 4,581 281 2,667 4,862 7,529 (624 ) 2004 2016 301-445 Figueroa Street Wilmington, CA -- 7,126 5,728 4,895 7,126 10,623 17,749 (1,010 ) 1972 / 2018 2016 12320 4th Street Rancho Cucamonga, CA -- 12,642 14,179 3 12,642 14,182 26,824 (2,122 ) 1997 / 2003 2016 9190 Activity Road San Diego, CA -- 8,497 5,622 681 8,497 6,303 14,800 (1,017 ) 1986 2016 28903-28903 Avenue Paine Valencia, CA -- 10,620 6,510 7,154 10,620 13,664 24,284 (428 ) 1999 / 2018 2017 2390 Ward Avenue Simi Valley, CA -- 5,624 10,045 386 5,624 10,431 16,055 (1,504 ) 1989 2017 Safari Business Center (6) Ontario, CA -- 50,807 86,065 5,796 50,807 91,861 142,668 (10,705 ) 1989 2017 4175 Conant Street Long Beach, CA -- 13,785 13,440 — 13,785 13,440 27,225 (1,562 ) 2015 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 5421 Argosy Avenue Huntington Beach, CA -- 3,577 1,490 2 3,577 1,492 5,069 (314 ) 1976 2017 14820-14830 Carmenita Road Norwalk, CA -- 22,938 6,738 293 22,938 7,031 29,969 (950 ) 1970, 2000 2017 3002-3072 Inland Empire Blvd. Ontario, CA -- 12,031 14,439 2,693 12,031 17,132 29,163 (1,903 ) 1981 2017 17000 Kingsview Avenue & 800 Sandhill Avenue Carson, CA -- 7,988 5,472 942 7,988 6,414 14,402 (606 ) 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 3,318 121,329 90,094 211,423 (9,997 ) 1989 2017 11190 White Birch Drive Rancho Cucamonga, CA -- 9,405 9,840 48 9,405 9,888 19,293 (1,168 ) 1986 2017 4832-4850 Azusa Canyon Road Irwindale, CA -- 5,330 8,856 7 5,330 8,863 14,193 (916 ) 2016 2017 1825 Soto Street Los Angeles, CA -- 2,129 1,315 — 2,129 1,315 3,444 (159 ) 1993 2017 19402 Susana Road Rancho Dominguez, CA -- 3,524 357 5 3,524 362 3,886 (79 ) 1957 2017 13225 Western Avenue Gardena, CA -- 1,918 355 363 1,918 718 2,636 (59 ) 1955 2017 15401 Figueroa Street Los Angeles, CA -- 3,255 1,248 731 3,255 1,979 5,234 (141 ) 1964 / 2018 2017 8542 Slauson Avenue Pico Rivera, CA -- 8,681 576 775 8,681 1,351 10,032 (142 ) 1964 2017 687 Eucalyptus Avenue Inglewood, CA -- 37,035 15,120 275 37,035 15,395 52,430 (1,267 ) 2017 2017 302 Rockefeller Avenue Ontario, CA -- 6,859 7,185 14 6,859 7,199 14,058 (668 ) 2000 2017 4355 Brickell Street Ontario, CA -- 7,295 5,616 71 7,295 5,687 12,982 (558 ) 2004 2017 12622-12632 Monarch Street Garden Grove, CA -- 11,691 8,290 96 11,691 8,386 20,077 (870 ) 1967 2017 8315 Hanan Way Pico Rivera, CA -- 8,714 4,751 180 8,714 4,931 13,645 (436 ) 1976 2017 13971 Norton Avenue Chino, CA -- 5,293 6,377 96 5,293 6,473 11,766 (607 ) 1990 2018 1900 Proforma Avenue Ontario, CA -- 10,214 5,127 750 10,214 5,877 16,091 (698 ) 1989 2018 16010 Shoemaker Avenue Cerritos, CA -- 9,927 6,948 123 9,927 7,071 16,998 (607 ) 1985 2018 4039 Calle Platino Oceanside, CA -- 9,476 11,394 366 9,476 11,760 21,236 (890 ) 1991 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 851 Lawrence Drive Thousand Oaks, CA -- 6,717 — 1,200 6,717 1,200 7,917 — 1968 2018 1581 North Main Street Orange, CA -- 4,230 3,313 4 4,230 3,317 7,547 (261 ) 1994 2018 1580 West Carson Street Long Beach, CA -- 5,252 2,496 1,501 5,252 3,997 9,249 (176 ) 1982 / 2018 2018 660 & 664 North Twin Oaks Valley Road San Marcos, CA -- 6,307 6,573 79 6,307 6,652 12,959 (564 ) 1978 - 1988 2018 1190 Stanford Court Anaheim, CA -- 3,583 2,430 8 3,583 2,438 6,021 (182 ) 1979 2018 5300 Sheila Street Commerce, CA -- 90,568 54,086 220 90,568 54,306 144,874 (4,020 ) 1975 2018 15777 Gateway Circle Tustin, CA -- 3,815 4,292 20 3,815 4,312 8,127 (282 ) 2005 2018 1998 Surveyor Avenue Simi Valley, CA -- 3,670 2,263 4,754 3,670 7,017 10,687 (221 ) 2018 2018 3100 Fujita Street Torrance, CA -- 7,723 5,649 180 7,723 5,829 13,552 (435 ) 1970 2018 4416 Azusa Canyon Road Irwindale, CA -- 10,762 1,567 27 10,762 1,594 12,356 (138 ) 1956 2018 1420 McKinley Avenue Compton, CA -- 17,053 13,605 124 17,053 13,729 30,782 (897 ) 2017 2018 12154 Montague Street Pacoima, CA -- 10,114 12,767 506 10,114 13,273 23,387 (746 ) 1974 2018 10747 Norwalk Boulevard Santa Fe Springs, CA -- 5,646 4,966 8 5,646 4,974 10,620 (310 ) 1999 2018 29003 Avenue Sherman Valencia, CA -- 3,094 6,467 1,776 3,094 8,243 11,337 — 2000 / 2019 2018 16121 Carmenita Road Cerritos, CA -- 10,013 3,279 2,412 10,013 5,691 15,704 (117 ) 1969 2018 1332-1340 Rocky Point Drive Oceanside, CA -- 3,816 6,148 363 3,816 6,511 10,327 (241 ) 2009 / 2019 2018 6131-6133 Innovation Way Carlsbad, CA -- 10,545 11,859 23 10,545 11,882 22,427 (607 ) 2017 2018 263-321 Gardena Boulevard Carson, CA -- 14,302 1,960 201 14,302 2,161 16,463 (200 ) 1977 - 1982 2018 9200 Mason Avenue Chatsworth, CA -- 4,887 4,080 — 4,887 4,080 8,967 (228 ) 1968 2018 9230 Mason Avenue Chatsworth, CA -- 4,454 955 — 4,454 955 5,409 (90 ) 1974 2018 9250 Mason Avenue Chatsworth, CA -- 4,034 2,464 — 4,034 2,464 6,498 (150 ) 1977 2018 9171 Oso Avenue Chatsworth, CA -- 5,647 2,801 — 5,647 2,801 8,448 (173 ) 1980 2018 5593-5595 Fresca Drive La Palma, CA -- 11,414 2,502 11 11,414 2,513 13,927 (191 ) 1973 2018 6100 Sheila Street Commerce, CA -- 11,789 5,214 40 11,789 5,254 17,043 (448 ) 1960 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 14421-14441 Bonelli Street City of Industry, CA -- 12,191 7,489 1 12,191 7,490 19,681 (384 ) 1971 2018 12821 Knott Street Garden Grove, CA -- 16,991 2,824 1,189 16,991 4,013 21,004 — 1971 2019 28510 Industry Drive Valencia, CA -- 2,395 5,466 1 2,395 5,467 7,862 (203 ) 2017 2019 Conejo Spectrum Business Park Thousand Oaks, CA -- 38,877 64,721 1,659 38,877 66,380 105,257 (2,084 ) 2018 2019 2455 Ash Street Vista, CA -- 4,273 1,966 25 4,273 1,991 6,264 (97 ) 1990 2019 25413 Rye Canyon Road Santa Clarita, CA -- 3,245 2,352 583 3,245 2,935 6,180 (90 ) 1981 2019 1515 15th Street Los Angeles, CA -- 23,363 5,208 797 23,363 6,005 29,368 (137 ) 1977 2019 13890 Nelson Avenue City of Industry, CA -- 25,642 14,616 3 25,642 14,619 40,261 (500 ) 1982 2019 445-449 Freedom Avenue Orange, CA -- 9,084 8,286 78 9,084 8,364 17,448 (264 ) 1980 2019 2270 Camino Vida Roble Carlsbad, CA -- 8,102 8,179 307 8,102 8,486 16,588 (279 ) 1981 2019 980 Rancheros Drive San Marcos, CA -- 2,901 4,245 32 2,901 4,277 7,178 (131 ) 1982 2019 1145 Arroyo Avenue San Fernando, CA -- 19,556 9,567 — 19,556 9,567 29,123 (323 ) 1989 2019 1150 Aviation Place San Fernando, CA -- 18,989 10,067 — 18,989 10,067 29,056 (346 ) 1989 2019 1175 Aviation Place San Fernando, CA -- 12,367 4,858 — 12,367 4,858 17,225 (170 ) 1989 2019 1245 Aviation Place San Fernando, CA -- 16,407 9,572 — 16,407 9,572 25,979 (310 ) 1989 2019 635 8th Street San Fernando, CA -- 8,787 5,922 844 8,787 6,766 15,553 — 1989 2019 10015 Waples Court San Diego, CA -- 12,280 9,198 1,976 12,280 11,174 23,454 — 1988 2019 19100 Susana Road Rancho Dominguez, CA -- 11,576 2,265 112 11,576 2,377 13,953 (97 ) 1956 2019 15385 Oxnard Street Van Nuys, CA -- 11,782 5,212 115 11,782 5,327 17,109 (145 ) 1988 2019 9750-9770 San Fernando Road Sun Valley, CA -- 6,718 543 72 6,718 615 7,333 (36 ) 1952 2019 218 S. Turnbull Canyon City of Industry, CA -- 19,075 8,061 2 19,075 8,063 27,138 (239 ) 1999 2019 Limonite Ave. & Archibald Ave. (7) Eastvale, CA -- 23,848 — 3,985 23,848 3,985 27,833 — N/A 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 3340 San Fernando Road Los Angeles, CA -- 2,885 147 (115 ) 2,770 147 2,917 (8 ) N/A 2019 5725 Eastgate Drive San Diego, CA -- 6,543 1,732 301 6,543 2,033 8,576 (55 ) 1995 2019 18115 Main Street Carson, CA -- 7,142 776 2 7,142 778 7,920 (23 ) 1988 2019 3150 Ana Street Rancho Dominguez, CA -- 15,997 3,036 — 15,997 3,036 19,033 (57 ) 1957 2019 1402 Avenida Del Oro Oceanside, CA -- 33,006 34,439 — 33,006 34,439 67,445 (590 ) 2016 2019 9607-9623 Imperial Highway Downey, CA -- 9,766 865 44 9,766 909 10,675 (20 ) 1974 2019 12200 Bellflower Boulevard Downey, CA -- 14,960 2,057 5 14,960 2,062 17,022 (42 ) 1955 2019 Storm Parkway Torrance, CA -- 42,178 21,987 — 42,178 21,987 64,165 (283 ) 1982 - 2008 2019 2328 Teller Road Newbury Park, CA -- 8,330 14,304 33 8,330 14,337 22,667 (184 ) 1970 / 2018 2019 6277-6289 Slauson Avenue Commerce, CA -- 27,809 11,454 31 27,809 11,485 39,294 (115 ) 1962 - 1977 2019 750 Manville Street Compton, CA -- 8,283 2,784 — 8,283 2,784 11,067 (26 ) 1977 2019 8985 Crestmar Point San Diego, CA -- 6,990 1,350 — 6,990 1,350 8,340 (20 ) 1988 2019 404-430 Berry Way Brea, CA -- 21,047 4,566 5 21,047 4,571 25,618 (37 ) 1964 - 1967 2019 415-435 Motor Avenue Azusa, CA -- 7,364 — 76 7,364 76 7,440 — 1956 2019 508 East E Street Wilmington, CA -- 10,742 4,380 — 10,742 4,380 15,122 (26 ) 1988 2019 12752-12822 Monarch Street Garden Grove, CA -- 29,404 4,262 6 29,404 4,268 33,672 (29 ) 1971 2019 1601 Mission Blvd. Pomona, CA -- 67,623 18,962 — 67,623 18,962 86,585 (48 ) 1952 2019 2757 Del Amo Blvd. Rancho Dominguez, CA -- 10,035 2,073 — 10,035 2,073 12,108 (6 ) 1967 2019 18250 Euclid Street Fountain Valley, CA -- 11,116 3,201 — 11,116 3,201 14,317 (6 ) 1974 2019 Investments in real estate $ 2,338 $ 1,931,714 $ 1,514,246 $ 262,327 $ 1,927,098 $ 1,771,292 $ 3,698,390 $ (296,777 ) Note: As of December 31, 2019 , the aggregate cost for federal income tax purposes of investments in real estate was approximately $3.7 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 $9.9 million relates to properties still owned by us) to write down our investments in real estate to fair value. Of the $9.9 million , $4.5 million is included as a reduction of “Land” in the table above, with the remaining $5.4 million included as a reduction of “Buildings and Improvements”. (3) The depreciable life for buildings and improvements ranges from 10 - 30 years for buildings, 5 - 20 years for site improvements, and the shorter of the estimated useful life or respective lease term for tenant improvements. (4) These six properties secure a term loan that had a balance of $58.5 million as of December 31, 2019 . (5) Includes unamortized discount of $0.1 million . (6) Safari Business Park consists of 16 buildings with the following addresses: 1845, 1885, 1901-1957 and 2037-2077 Vineyard Avenue; 1906-1946 and 2048-2058 Cedar Street; 1900-1956, 1901-1907, 1911-1951, 2010-2020 and 2030-2071 Lynx Place; 1810, 1840-1898, 1910-1960 and 2030-2050 Carlos Avenue; 2010-2057 and 2060-2084 Francis Street. (7) As of December 31, 2019, we are in the process of constructing six industrial buildings at the fully entitled industrial development site located at Limonite Avenue and Archibald Avenue in Eastvale, California. The following tables reconcile the historical cost of total real estate held for investment and accumulated depreciation from January 1, 2017 to December 31, 2019 (in thousands): Year Ended December 31, Total Real Estate Held for Investment 2019 2018 2017 Balance, beginning of year $ 2,716,083 $ 2,161,965 $ 1,552,129 Acquisition of investment in real estate 952,981 513,511 649,019 Construction costs and improvements 50,169 58,207 44,451 Disposition of investment in real estate (19,956 ) (17,060 ) (69,616 ) Properties held for sale — — (13,296 ) Write-off of fully depreciated assets (772 ) (540 ) (722 ) Other (1) (115 ) — — Balance, end of year $ 3,698,390 $ 2,716,083 $ 2,161,965 Year Ended December 31, Accumulated Depreciation 2019 2018 2017 Balance, beginning of year $ (228,742 ) $ (173,541 ) $ (135,140 ) Depreciation of investment in real estate (72,505 ) (57,312 ) (45,469 ) Disposition of investment in real estate 3,698 1,571 4,737 Properties held for sale — — 1,609 Write-off of fully depreciated assets 772 540 722 Balance, end of year $ (296,777 ) $ (228,742 ) $ (173,541 ) (1) On July 3, 2019, we acquired the fee title to the parcel of land located at 3340 North San Fernando Road in Los Angeles, California for a contract price of $3.0 million . Prior to the acquisition, we leased the parcel of land from the seller under a long-term ground lease. The $115 thousand adjustment to the carrying value of the land is the difference between the purchase price of the land parcel and the carrying amount of the ground lease liability immediately before the acquisition.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2019
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, 2019 and 2018 , 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 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 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 generally comprised of 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 (“1031 Exchange”). We include restricted cash with cash and cash equivalents in the consolidated statements of cash flows
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 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 rents 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, 2019 , we used discount rates ranging from 5.75% to 7.75% and capitalization rates ranging from 4.50% to 7.25% . 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 rates and the in-place 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, 2019 , 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 is based on our estimate of the current market rates for similar liabilities in effect at the acquisition date. 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 development, 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 development 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 $3.9 million , $2.1 million and $1.7 million during the years ended December 31, 2019 , 2018 and 2017 , respectively. We capitalized real estate taxes and insurance aggregating $1.3 million , $0.9 million , and $1.2 million and during the years ended December 31, 2019 , 2018 and 2017 , respectively. We capitalized compensation costs for employees who provide construction services of $2.7 million , $2.2 million and $1.9 million during the years ended December 31, 2019 , 2018 and 2017 , 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. As of December 31, 2019 and 2018 , we did not have any properties classified as held for sale.
Deferred Leasing Costs	Deferred Leasing Costs
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 goodwill, whenever events or changes in circumstances indicate that the carrying amounts of these assets may not be fully recoverable. Recoverability of real estate 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. 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 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. There were no impairment charges recorded to the carrying value of our properties during the years ended December 31, 2019, 2018 or 2017.
Investment in Unconsolidated Real Estate	Investment in Unconsolidated Real Estate Entities Investments in unconsolidated real estate entities in which we have the ability to exercise significant influence (but not control) are accounted for under the equity method of investment. Under the equity method, we initially record our investment at cost, and subsequently adjust for equity in earnings or losses and cash contributions and distributions. Any difference between the carrying amount of these investments on the balance sheet and the underlying equity in net assets is amortized as an adjustment to equity in income (loss) from unconsolidated real estate over the life of the related asset. Under the equity method of accounting, our net equity investment is reflected within the consolidated balance sheets, and our share of net income or loss from the joint venture is included within the consolidated statements of operations. Furthermore, distributions received from equity method investments are classified as either operating cash inflows or investing cash inflows in the consolidated statements of cash flows using the “nature of the distribution approach,” in which each distribution is evaluated on the basis of the source of the payment. We previously held a noncontrolling interest in a property through a joint venture (the “JV”). In 2016, following the sale of the JV’s final property, the JV distributed all of its available cash, with the exception of a small amount of working capital which was retained to cover the residual costs associated with the winding down of the JV. During the year ended December 31, 2017, all remaining assets were liquidated by the JV and we received a final distribution in the amount of $11 thousand which is reported in the line item “Equity in income from unconsolidated real estate entities” in the consolidated statements of operations. As of December 31, 2019 and 2018, we did not have any investments in unconsolidated real estate entities.
Income Taxes	Income Taxes We have elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended (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 REIT qualifying 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, 2019 , 2018 and 2017 . 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, 2019 and 2018 , 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 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.
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 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. Rental income 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 real estate taxes, 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. Management, leasing and development services We provide property management services and leasing services to related party and third-party property owners 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.
Valuation of Receivables	Valuation of Receivables We may be subject to tenant defaults and bankruptcies that could affect the collection of outstanding receivables 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. 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 $0.7 million and $1.2 million , $1.1 million for the years ended December 31, 2019 , 2018 , and 2017 respectively, as a reduction of rental income in the consolidated statements of operations.
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.
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 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.
Equity Offering Costs	Equity Offering Costs Underwriting commissions and offering costs related to our common stock issuances 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.
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, nonvested share-based payment awards that contain non-forfeitable rights to dividends are participating securities and, therefore, are included in computing 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 effect of any dilutive securities. 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.
Segment Reporting	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.
Recently Issued Accounting Pronouncements	Adoption of New Accounting Pronouncements Leases On February 25, 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which sets out the principals for the recognition, measurement, presentation and disclosure of leases for both lessees and lessors. ASU 2016-02 was subsequently amended by the following updates: (i) ASU 2018-10, Leases: Codification Improvements to Topic 842, (ii) ASU 2018-11, Leases: Targeted Improvements, (iii) ASU 2018-20, Leases: Narrow-Scope Improvements for Lessors and (iv) ASU 2019-01, Leases: Codification Improvements (collectively referred to as “ASC 842”). ASC 842 supersedes prior lease accounting guidance contained in ASC Topic 840, Leases (“ASC 840”). On January 1, 2019, we adopted ASC 842 using the modified retrospective approach and elected to apply the provisions as of the date of adoption on a prospective basis. In making this election, we have continued to apply ASC 840 to comparative periods, including providing disclosures required by ASC 840 for these periods, and we recognized the effects of applying ASC 842 as a cumulative-effect adjustment to retained earnings as of January 1, 2019, as described below under “Lessor”. Upon adoption of ASC 842, we elected the “package of practical expedients” which allowed us to not reassess (a) whether expired or existing contracts as of January 1, 2019 are or contain leases, (b) the lease classification for any expired or existing leases as of January 1, 2019, and (c) the treatment of initial direct costs relating to any existing leases as of January 1, 2019. The package of practical expedients was made as a single election and was consistently applied to all leases that commenced before January 1, 2019. Lessor ASC 842 requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases, and operating leases. As we elected the package of practical expedients, our existing leases as of January 1, 2019, continue to be accounted for as operating leases. Upon adoption of ASC 842, we elected the practical expedient permitting lessors to elect by class of underlying asset to not separate non-lease components (for example, maintenance services, including common area maintenance) from associated lease components (the “non-separation practical expedient”) if both of the following criteria are met: (1) the timing and pattern of transfer of the lease and non-lease component(s) are the same and (2) the lease component would be classified as an operating lease if it were accounted for separately. If both criteria are met, the combined component is accounted for in accordance with ASC 842 if the lease component is the predominant component of the combined component; otherwise, the combined component is accounted for in accordance with the revenue recognition standard. We assessed the criteria above with respect to our operating leases and determined that they qualify for the non-separation practical expedient. As a result, we have accounted for and presented all rental income earned pursuant to operating leases, including tenant reimbursements, as a single line item “Rental income” in the consolidated statement of operations for the year ended December 31, 2019 . Prior to the adoption of ASC 842, we presented rental income, tenant reimbursements and other income related to leases separately in our consolidated statements of operations. For comparability, we have adjusted our comparative consolidated statement of operations for the years ended December 31, 2018 and 2017, to conform to the 2019 financial statement presentation. Under ASC 842, lessors are required to record revenues and expenses on a gross basis for lessor costs (which include real estate taxes) when these costs are reimbursed by a lessee. Conversely, lessors are required to record revenues and expenses on a net basis for lessor costs when they are paid by a lessee directly to a third party on behalf of the lessor. Prior to the adoption of ASC 842, we recorded revenues and expenses on a gross basis for real estate taxes whether they were reimbursed to us by a tenant or paid directly by a tenant to the taxing authorities on our behalf. Effective January 1, 2019, we are recording these costs in accordance with ASC 842. ASC 842 only allows lessors to 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. Prior to January 1, 2019, under ASC 840, we capitalized incremental direct costs, which included an allocation of internal compensation costs of employees who spent time on successful lease origination activities. Effective January 1, 2019, such costs will no longer be capitalized as initial direct costs and instead will be expensed as incurred. For leases that commenced prior to January 1, 2019, capitalized internal compensation costs will continue to be amortized over the remaining life of the lease. For leases that were executed but had not commenced prior to January 1, 2019, we recognized a cumulative-effect adjustment to “Cumulative distributions in excess of earnings” of $0.2 million to write off these capitalized internal compensation costs, as these costs were capitalized in accordance with ASC 840, as noted above, and do not qualify for capitalization under ASC 842. See “Deferred Leasing Costs” above for a summary of employee related compensation costs capitalized during the years ended December 31, 2018 and 2017 . See Note 6 for additional lessor disclosures required under ASC 842. Lessee ASC 842 requires lessees to recognize the following for all leases (with the exception of short-term leases) at the commencement date: (1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) a right-of-use asset (“ROU asset”), which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. ASC 842 also requires lessees to classify leases as either finance or operating leases based on whether or not the lease is effectively a financed purchase of the leased asset by the lessee. This classification is used to evaluate whether the lease expense should be recognized based on an effective interest method or on a straight-line basis over the term of the lease. As of January 1, 2019, we were the lessee on one ground lease and multiple office space leases, which were classified as operating leases under ASC 840. As we elected the package of practical expedients, we were not required to reassess the classification of these existing leases and as such, these leases continue to be accounted for as operating leases. In the event we modify our existing leases or enter into new leases in the future, such leases may be classified as finance leases. On January 1, 2019, we recognized ROU assets and lease liabilities for these leases on our consolidated balance sheets, and on a go-forward basis, lease expense will be recognized on a straight-line basis over the remaining term of the lease. Upon adoption of ASC 842, we also elected the practical expedient to not separate non-lease components, such as common area maintenance, from associated lease components for our ground and office space leases. See Note 6 for additional lessee disclosures required under ASC 842. Derivatives On August 28, 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities (“ASU 2017-12”). ASU 2017-12 simplifies hedge accounting by eliminating the requirement to separately measure and report hedge ineffectiveness and generally requires the entire change in the fair value of a hedging instrument to be presented in the same income statement line as the hedged item. For cash flow hedges, ASU 2017-12 requires all changes in the fair value of the hedging instrument to be deferred in other comprehensive income and recognized in earnings at the same time that the hedged item affects earnings. ASU 2017-12 also eases certain documentation and assessment requirements and modifies the accounting for components excluded from the assessment of hedge effectiveness. ASU 2017-12 is effective for interim and annual reporting periods beginning after December 15, 2018, with early adoption permitted. Effective January 1, 2018, we early adopted ASU 2017-12 using the modified retrospective approach. We did not record a cumulative effect adjustment to eliminate ineffectiveness amounts as we did not have any ineffectiveness in our historical consolidated financial statements. In addition, certain provisions of ASU 2017-12 require modifications to existing presentation and disclosure requirements on a prospective basis. See Note 7 for disclosures relating to our derivative instruments. Recently Issued Accounting Pronouncements Changes to GAAP are established by the FASB in the form of ASUs to the FASB’s Accounting Standards Codification. We consider the applicability and impact of all ASUs. Other than the ASUs discussed below, the FASB has not recently issued any other ASUs that we expect to be applicable and have a material impact on our financial statements. Allowance for Credit Losses On June 16, 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which amends the accounting for credit losses for certain financial instruments. ASU 2016-13 introduced the “current expected credit losses” (CECL) model, which requires companies to estimate credit losses immediately upon exposure. The guidance applies to financial assets measured at amortized cost including financing receivables (loans) and trade receivables. On November 26, 2018, the FASB issued ASU 2018-19, C odification Improvements to Topic 326, Financial Instrument - Credit Losses, which clarifies that operating lease receivables are outside the scope of ASC Topic 326 and instead should be accounted for under ASC 842. ASU 2016-13 is effective for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted. We do not expect the adoption of ASU 2016-13 to have a material impact on our consolidated financial statements or notes to our consolidated financial statements.

Investments in Real Estate (Tab

Investments in Real Estate (Tables)	12 Months Ended
Investments in Real Estate (Tables)	Dec. 31, 2019
Investments, All Other Investments [Abstract]
Summary of Acquired Wholly Owned Property Acquisitions	The following table sets forth the wholly-owned industrial properties we acquired during the year ended December 31, 2019 : Property Submarket Date of Acquisition Rentable Square Feet Number of Buildings Contractual Purchase Price (1) (in thousands) 12821 Knott Street (2) Orange County - West 1/15/2019 120,800 1 $ 19,800 28510 Industry Drive (2) Los Angeles - San Fernando Valley 1/17/2019 46,778 1 7,765 Conejo Spectrum Business Park (2) Ventura 1/28/2019 531,378 9 106,250 2455 Ash Street (2) San Diego - North County 3/5/2019 42,508 1 6,680 25413 Rye Canyon Road (2) Los Angeles - San Fernando Valley 3/12/2019 48,075 1 5,529 1515 East 15th Street (3) Los Angeles - Central LA 4/10/2019 238,015 1 28,100 13890 Nelson Avenue (2) Los Angeles - San Gabriel Valley 4/12/2019 256,993 1 41,810 445-449 Freedom Avenue (2) Orange County - North 4/12/2019 92,647 1 17,960 2270 Camino Vida Roble (2) San Diego - North County 4/12/2019 106,311 1 16,791 980 Rancheros Drive (2) San Diego - North County 4/16/2019 48,878 1 7,895 1145 Arroyo Avenue (2) Los Angeles - San Fernando Valley 4/25/2019 147,019 1 29,862 1150 Aviation Place (2) Los Angeles - San Fernando Valley 4/25/2019 147,000 1 29,694 1175 Aviation Place (2) Los Angeles - San Fernando Valley 4/25/2019 92,455 1 17,844 1245 Aviation Place (2) Los Angeles - San Fernando Valley 4/25/2019 132,936 1 26,055 635 8th Street (2) Los Angeles - San Fernando Valley 4/25/2019 72,250 1 14,659 10015 Waples Court (2) San Diego - Central County 4/25/2019 106,412 1 21,300 19100 Susana Road (2) Los Angeles - South Bay 4/30/2019 52,714 1 13,510 15385 Oxnard Street (2) Los Angeles - San Fernando Valley 5/3/2019 71,467 1 16,800 9750-9770 San Fernando Road (2) Los Angeles - San Fernando Valley 5/16/2019 35,624 1 7,440 218 Turnbull Canyon (2) Los Angeles - San Gabriel Valley 5/31/2019 190,900 1 27,100 The Merge (2)(4) San Bernardino - Inland Empire West 6/6/2019 — — 23,200 3340 San Fernando Road (2)(5) Los Angeles - San Fernando Valley 7/3/2019 — — 3,000 5725 Eastgate Drive (2) San Diego - Central County 7/31/2019 27,267 1 8,150 18115 Main Street (2) Los Angeles - South Bay 8/29/2019 42,270 1 6,750 3150 Ana Street (2) Los Angeles - South Bay 8/29/2019 105,970 1 18,800 1402 Avenida Del Oro (6) San Diego - North County 8/30/2019 311,995 1 73,550 9607-9623 Imperial Highway (2) Los Angeles - Mid-Counties 9/5/2019 7,466 1 10,510 12200 Bellflower Boulevard (2) Los Angeles - Mid-Counties 9/5/2019 54,161 1 16,325 Storm Parkway (2) Los Angeles - South Bay 9/17/2019 267,503 8 66,165 2328 Teller Road (2) Ventura 9/25/2019 126,317 1 23,273 6277-6289 Slauson Avenue (2) Los Angeles - Central LA 10/3/2019 336,085 3 41,263 750 Manville Street (2) Los Angeles - South Bay 10/4/2019 59,996 1 11,510 8985 Crestmar Point (2) San Diego - Central County 10/25/2019 55,816 1 7,985 404-430 Berry Way (7) Orange County - North 11/5/2019 120,250 3 27,600 415-435 Motor Avenue (2) Los Angeles - San Gabriel Valley 11/13/2019 63,900 1 7,200 508 East E Street (2) Los Angeles - South Bay 11/20/2019 57,522 1 14,892 12752-12822 Monarch Street (2) Orange County - West 11/22/2019 276,585 1 34,000 1601 West Mission Boulevard (2) Los Angeles - San Gabriel Valley 12/10/2019 751,528 1 87,780 2757 East Del Amo Boulevard (2) Los Angeles - South Bay 12/11/2019 57,300 1 11,900 18250 Euclid Street (8) Orange County - West 12/27/2019 62,838 1 14,000 Total 2019 Property Acquisitions 5,365,929 57 $ 970,697 (1) Represents the gross contractual purchase price before prorations, closing costs and other acquisition related costs. (2) This acquisition was funded with available cash on hand. (3) In connection with this acquisition, we issued the seller 593,960 newly issued 4.43937% Cumulative Redeemable Convertible Preferred Units of partnership interest in the Operating Partnership. See Note 12 for additional details. (4) The Merge is a fully entitled development site on which we are constructing a 334,000 rentable square foot six -building industrial complex. We have retained the seller as fee developer to construct the project. The purchase price includes $5.1 million of consideration held back in escrow to be released to the seller/developer upon meeting certain development milestones. (5) On July 3, 2019, we acquired the fee title to the parcel of land located at 3340 North San Fernando Road in Los Angeles, California for a contract price of $3.0 million . Prior to the acquisition, we leased the parcel of land from the seller under a long-term ground lease. See Note 6 for additional details related to the ground lease. (6) This acquisition was partially funded through a 1031 Exchange using $12.3 million of net cash proceeds from the sale of our properties located at (i) 2350-2384 Orangethorpe Avenue and 1631 Placentia Avenue and (ii) 939 Poinsettia Avenue - Unit 301 and available cash on hand. (7) This acquisition was partially funded through a 1031 Exchange using $10.6 million of net cash proceeds from the sale of our property located at 13914-13932 East Valley Boulevard and available cash on hand. (8) This acquisition was partially funded through a 1031 Exchange using $9.4 million of net cash proceeds from the sale of our property located at 2350-2380 Eastman Avenue and available cash on hand. The following table sets forth the wholly-owned industrial properties we acquired during the year ended December 31, 2018 : Property Submarket Date of Acquisition Rentable Square Feet Number of Buildings Contractual Purchase Price (1) (in thousands) 13971 Norton Avenue (2) Inland Empire West 1/17/2018 103,208 1 $ 11,364 Ontario Airport Commerce Center (3) Inland Empire West 2/23/2018 213,603 3 24,122 16010 Shoemaker Avenue (4) Los Angeles - Mid-Counties 3/13/2018 115,600 1 17,218 4039 Calle Platino (5) San Diego - North County 4/4/2018 143,274 1 20,000 851 Lawrence Drive (6) Ventura 4/5/2018 49,976 1 6,600 1581 North Main Street (6) Orange County - North 4/6/2018 39,661 1 7,150 1580 West Carson Street (7) Los Angeles - South Bay 4/26/2018 43,787 1 7,500 660 & 664 North Twin Oaks Valley Road (6) San Diego - North County 4/26/2018 96,993 2 14,000 1190 Stanford Court (6) Orange County - North 5/8/2018 34,494 1 6,080 5300 Sheila Street (6) Los Angeles - Central 5/9/2018 695,120 1 121,000 15777 Gateway Circle (4) Orange County - Airport 5/17/2018 37,592 1 8,050 1998 Surveyor Avenue (4)(8) Ventura 5/18/2018 — (8) — (8) 5,821 3100 Fujita Street (4) Los Angeles - South Bay 5/31/2018 91,516 1 14,037 4416 Azusa Canyon Road (4) Los Angeles - San Gabriel Valley 6/8/2018 70,510 1 12,000 1420 Mckinley Avenue (4) Los Angeles - South Bay 6/12/2018 136,685 1 30,000 12154 Montague Street (4) Los Angeles - San Fernando Valley 6/29/2018 122,868 1 22,525 10747 Norwalk Boulevard (4) Los Angeles - Mid-Counties 7/18/2018 52,691 1 10,835 29003 Avenue Sherman (4) Los Angeles - San Fernando Valley 7/19/2018 68,123 1 9,500 16121 Carmenita Road (4) Los Angeles - Mid-Counties 8/14/2018 108,500 1 13,300 1332-1340 Rocky Point Drive (4) San Diego - North County 10/17/2018 73,747 3 10,170 6131-6133 Innovation Way (4) San Diego - North County 11/6/2018 114,572 2 24,200 263-321 Gardena Boulevard (4) Los Angeles - South Bay 11/8/2018 55,238 2 16,101 9200 Mason Avenue (4) Los Angeles - San Fernando Valley 11/30/2018 80,410 1 9,041 9230 Mason Avenue (4) Los Angeles - San Fernando Valley 11/30/2018 54,000 1 5,300 9250 Mason Avenue (4) Los Angeles - San Fernando Valley 11/30/2018 56,292 1 6,626 9171 Oso Avenue (4) Los Angeles - San Fernando Valley 11/30/2018 65,560 1 8,565 5593-5595 Fresca Drive (4) Orange County - North 11/30/2018 115,200 1 14,000 6100 Sheila Street (4) Los Angeles - Central 12/7/2018 74,527 1 18,245 14421-14441 Bonelli Street (9) Los Angeles - San Gabriel Valley 12/28/2018 148,740 1 19,500 Total 2018 Property Acquisitions 3,062,487 35 $ 492,850 (1) Represents the gross contractual purchase price before prorations, closing costs and other acquisition related costs. (2) This acquisition was partially funded through a 1031 Exchange using $10.7 million of net cash proceeds from the sale of our property located at 8900-8980 Benson Avenue and 5637 Arrow Highway and borrowings under our unsecured revolving credit facility. (3) The Ontario Airport Commerce Center is an industrial park which includes two properties located at 1900 Proforma Avenue and 1910-1920 Archibald Avenue. This acquisition was partially funded through a 1031 Exchange using $10.3 million of net cash proceeds from the sale of our property located at 700 Allen Avenue and 1851 Flower Street, borrowings under our unsecured revolving credit facility and available cash on hand. On May 9, 2018, we sold the property located at 1910-1920 Archibald Avenue (see Note 11). (4) This acquisition was funded with available cash on hand. (5) This acquisition was partially funded through a 1031 Exchange using $4.2 million of net cash proceeds from the sale of our property located at 200-220 South Grand Avenue and borrowings under our unsecured revolving credit facility. (6) This acquisition was funded with available cash on hand and borrowings under our unsecured revolving credit facility. (7) This acquisition was partially funded through a 1031 Exchange using $1.6 million of net cash proceeds from the sale of our property located at 6770 Central Avenue—Building B and borrowings under our unsecured revolving credit facility. (8) We acquired 1998 Surveyor Avenue as an under-construction building for a cost of $5.8 million and the assumption of the seller’s fixed-price construction contracts with approximately $4.4 million of remaining costs. During 2019, construction and lease-up of the 56,306 rentable square foot single-tenant building was completed. (9) This acquisition was partially funded through a 1031 Exchange using $9.8 million of net cash proceeds from the sale of three buildings located at 311 East 157th Street, 329 East 157th Street and 319 East 157th Street and available cash on hand.
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): 2019 2018 Assets: Land $ 637,478 $ 312,410 Buildings and improvements 308,950 198,362 Tenant improvements 6,553 2,739 Acquired lease intangible assets (1) 39,502 26,085 Other acquired assets (2) 747 206 Total assets acquired $ 993,230 $ 539,802 Liabilities: Acquired lease intangible liabilities (3) 15,796 41,778 Other assumed liabilities (2) 5,768 2,247 Total liabilities assumed $ 21,564 $ 44,025 Net assets acquired $ 971,666 $ 495,777 (1) For the 2019 acquisitions, acquired lease intangible assets are comprised of $36.3 million of in-place lease intangibles with a weighted average amortization period of 6.2 years and $3.2 million of above-market lease intangibles with a weighted average amortization period of 8.7 years. For the 2018 acquisitions, acquired lease intangible assets are comprised of $25.5 million of in-place lease intangibles with a weighted average amortization period of 14.8 years and $0.6 million of above-market lease intangibles with a weighted average amortization period of 7.1 years. (2) Includes other working capital assets acquired and liabilities assumed at the time of acquisition. (3) Represents below-market lease intangibles with a weighted average amortization period of 6.1 years and 26.3 years, for the 2019 and 2018 acquisitions, respectively.

Acquired Lease Intangibles (Tab

Acquired Lease Intangibles (Tables)	12 Months Ended
Acquired Lease Intangibles (Tables)	Dec. 31, 2019
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 leases and above-market tenant leases, and our acquisition-related intangible liabilities, including below-market tenant leases and above-market ground leases (in thousands): December 31, 2019 2018 Acquired Lease Intangible Assets: In-place lease intangibles $ 154,370 $ 119,517 Accumulated amortization (87,955 ) (68,481 ) In-place lease intangibles, net $ 66,415 $ 51,036 Above-market tenant leases $ 14,296 $ 11,125 Accumulated amortization (7,621 ) (6,478 ) Above-market tenant leases, net $ 6,675 $ 4,647 Acquired lease intangible assets, net $ 73,090 $ 55,683 Acquired Lease Intangible Liabilities: Below-market tenant leases $ (81,718 ) $ (66,388 ) Accumulated accretion 22,378 13,778 Below-market tenant leases, net $ (59,340 ) $ (52,610 ) Above-market ground lease (1) $ — $ (290 ) Accumulated accretion (1) — 173 Above-market ground lease, net (1) $ — $ (117 ) Acquired lease intangible liabilities, net $ (59,340 ) $ (52,727 ) (1) In connection with the adoption of ASC 842 on January 1, 2019, we derecognized the net above-market ground lease intangible liability of $0.1 million and adjusted the carrying amount of the ground lease right-of-use asset by a corresponding amount. See Note 2 for additional details related to the adoption of ASC 842.
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, 2019 2018 2017 In-place lease intangibles (1) $ 20,936 $ 18,135 $ 15,598 Net below market tenant leases (2) $ (7,907 ) $ (5,949 ) $ (2,238 ) Above-market ground lease (3) $ — $ (32 ) $ (32 ) (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. (3) The accretion of the above-market ground lease is recorded as a decrease to property expenses 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, 2019 , for the next five years and thereafter (in thousands): Year Ending In-place Leases (1) Net Above/(Below) (2) 2020 $ 18,687 $ (8,790 ) 2021 11,713 (5,416 ) 2022 7,278 (3,693 ) 2023 5,750 (3,081 ) 2024 4,045 (2,479 ) Thereafter 18,942 (29,206 ) Total $ 66,415 $ (52,665 ) (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
Notes Payable (Tables)	Dec. 31, 2019
Debt Disclosure [Abstract]
Summary of Notes Payable	The following table summarizes the balance of our indebtedness as of December 31, 2019 and 2018 (in thousands): December 31, 2019 December 31, 2018 Principal amount $ 860,958 $ 761,116 Less: unamortized discount and debt issuance costs (1) (3,116 ) (3,745 ) Carrying value $ 857,842 $ 757,371 (1) 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. The following table summarizes the components and significant terms of our indebtedness as of December 31, 2019 and 2018 (dollars in thousands): December 31, 2019 December 31, 2018 Principal Amount Unamortized Discount and Debt Issuance Costs Principal Amount Unamortized Discount and Debt Issuance Costs Contractual Stated Interest Rate (1) Effective Interest Rate (2) Secured Debt $60M Term Loan (3) $ 58,499 $ (179 ) $ 58,499 $ (230 ) 8/1/2023 (3) LIBOR+1.70% 3.55 % Gilbert/La Palma (4) 2,459 (121 ) 2,617 (129 ) 3/1/2031 5.125 % 5.48 % Unsecured Debt $100M Term Loan Facility 100,000 (177 ) 100,000 (260 ) 2/14/2022 LIBOR+1.20% (5) 3.05 % (6) Revolving Credit Facility — — — — 2/12/2021 (7) LIBOR+1.10% (5)(8) 2.86 % $225M Term Loan Facility 225,000 (1,104 ) 225,000 (1,476 ) 1/14/2023 LIBOR+1.20% (5) 2.74 % (9) $150M Term Loan Facility 150,000 (866 ) 150,000 (1,028 ) 5/22/2025 LIBOR+1.50% (5) 4.37 % (10) $100M Notes 100,000 (424 ) 100,000 (500 ) 8/6/2025 4.290 % 4.37 % $125M Notes 125,000 (108 ) 125,000 (122 ) 7/13/2027 3.930 % 3.94 % $25M Series 2019A Notes 25,000 (34 ) — — 7/16/2029 3.880 % 3.89 % $75M Series 2019B Notes 75,000 (103 ) — — 7/16/2034 4.030 % 4.04 % Total $ 860,958 $ (3,116 ) $ 761,116 $ (3,745 ) (1) Reflects the contractual interest rate under the terms of the loan, as of December 31, 2019 . (2) Reflects the effective interest rate as of December 31, 2019 , which includes the effect of the amortization of discounts and debt issuance costs and the effect of interest rate swaps that are effective as of December 31, 2019 . (3) This term loan is secured by six properties. One 24 -month extension available at the borrower’s option, subject to certain terms and conditions. (4) Monthly payments of interest and principal are based on a 20 -year amortization table. (5) The LIBOR margin will range from 1.20% to 1.70% per annum for the $100.0 million term loan facility, 1.10% to 1.50% per annum for the unsecured revolving credit facility, 1.20% to 1.70% per annum for the $225.0 million term loan facility and 1.50% to 2.20% per annum for the $150.0 million term loan facility, depending on the ratio of our outstanding consolidated indebtedness to the value of our consolidated gross asset value, or leverage ratio, which is measured on a quarterly basis. (6) As of December 31, 2019 , interest on the $100.0 million term loan facility has been effectively fixed through the use of one interest rate swap. See Note 7 for details. (7) Two additional six -month extensions are available at the borrower’s option. (8) 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 will range from 0.15% to 0.30% per annum depending upon our leverage ratio. (9) As of December 31, 2019 , interest on the $225.0 million term loan facility has been effectively fixed through the use of two interest rate swaps. See Note 7 for details. (10) As of December 31, 2019 , interest on the $150.0 million term loan facility has been effectively fixed through the use of one interest rate swap. See Note 7 for details.
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 discounts and debt issuance costs, as of December 31, 2019 , and does not consider extension options available to us as noted in the table above (in thousands): 2020 $ 166 2021 566 2022 100,967 2023 282,518 2024 204 Thereafter 476,537 Total $ 860,958

Operating Leases (Tables)

Operating Leases (Tables)	12 Months Ended
Operating Leases (Tables)	Dec. 31, 2019
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, 2019 (in thousands): For the year ending December 31, 2020 $ 232,304 2021 198,408 2022 160,341 2023 125,869 2024 89,630 Thereafter 307,584 Total $ 1,114,136
Lease Cost	The tables below present financial information associated with our leases. This information is only presented as of, and for year ended December 31, 2019 because, as previously noted, we adopted ASC 842 on a prospective basis which does not require application to periods prior to adoption. Lease Cost (in thousands) Year Ended December 31, 2019 Operating lease cost (1) $ 1,044 Variable lease cost (1) 54 Sublease income (2) (162 ) Total lease cost $ 936 (1) Amounts are included in “General and administrative” and “Property expenses” in the accompanying consolidated statement of operations. (2) Amount is included in “Rental income” in the accompanying consolidated statement of operations. Other Information (in thousands) Year Ended December 31, 2019 Cash paid for amounts included in the measurement of operating lease liabilities $ 961 Right-of-use assets obtained in exchange for new operating lease liabilities (1) $ 6,720 (1) The reported amount includes $3.3 million for operating leases existing on January 1, 2019. Lease Term and Discount Rate December 31, 2019 Weighted-average remaining lease term 4.7 Weighted-average discount rate (1) 3.92 % (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, 2019 were as follows (in thousands): 2020 $ 805 2021 888 2022 779 2023 807 2024 826 Thereafter 69 Total undiscounted lease payments $ 4,174 Less imputed interest (398 ) Total lease liabilities $ 3,776
Schedule of Future Minimum Rental Payments for Operating Leases	The future minimum commitments under our office space leases and ground lease as of December 31, 2018, were as follows (in thousands): Office Leases Ground Lease 2019 $ 668 $ 144 2020 257 144 2021 167 144 2022 — 144 2023 — 144 Thereafter — 5,532 Total $ 1,092 $ 6,252

Interest Rate Swaps (Tables)

Interest Rate Swaps (Tables)	12 Months Ended
Interest Rate Swaps (Tables)	Dec. 31, 2019
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, 2019 and 2018 (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 Assets/(Derivative Liabilities) (2) Derivative Instrument Effective Date Maturity Date LIBOR Interest Strike Rate December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018 Interest Rate Swap 1/15/2015 2/15/2019 1.8260 % $ — $ 30,000 $ — $ 25 Interest Rate Swap 7/15/2015 2/15/2019 2.0100 % $ — $ 28,108 $ — $ 17 Interest Rate Swap 2/14/2018 1/14/2022 1.3490 % $ 125,000 $ 125,000 $ 489 $ 3,974 Interest Rate Swap 8/14/2018 1/14/2022 1.4060 % $ 100,000 $ 100,000 $ 277 $ 3,023 Interest Rate Swap 12/14/2018 8/14/2021 1.7640 % $ 100,000 $ 100,000 $ (332 ) $ 1,731 Interest Rate Swap 7/22/2019 11/22/2024 2.7625 % $ 150,000 $ — $ (8,156 ) $ (2,351 ) (1) Represents the notional value of swaps that are effective as of the balance sheet date presented. (2)
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 consolidated statements of operations for the periods presented (in thousands): Year Ended December 31, 2019 2018 2017 Interest Rate Swaps in Cash Flow Hedging Relationships: Amount of (loss) gain recognized in AOCI on derivatives $ (12,103 ) $ 649 $ 2,084 Amount of gain (loss) reclassified from AOCI into earnings as “Interest expense” $ 2,038 $ 1,204 $ (1,341 ) Total interest expense presented in the Consolidated Statement of Operations in which the effects of cash flow hedges are recorded (line item “Interest expense”) $ 26,875 $ 25,416 $ 20,209

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
Fair Value Measurements (Tables)	Dec. 31, 2019
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, 2019 and 2018 , 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 Markets for Identical Assets and Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) December 31, 2019 Interest Rate Swap Asset $ 766 $ — $ 766 $ — Interest Rate Swap Liability $ (8,488 ) $ — $ (8,488 ) $ — December 31, 2018 Interest Rate Swap Asset $ 8,770 $ — $ 8,770 $ — Interest Rate Swap Liability $ (2,351 ) $ — $ (2,351 ) $ —
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, 2019 and 2018 (in thousands). Fair Value Measurement Using Liabilities Total Fair Value Quoted Price in Active Markets for Identical Assets and Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Carrying Value Notes Payable at: December 31, 2019 $ 882,813 $ — $ — $ 882,813 $ 857,842 December 31, 2018 $ 759,491 $ — $ — $ 759,491 $ 757,371

Dispositions (Tables)

Dispositions (Tables)	12 Months Ended
Dispositions (Tables)	Dec. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
Summary of the Properties Sold	The table below summarizes the properties we sold during the years ended December 31, 2019 , 2018 and 2017 (dollars in thousands). Property Submarket Date of Disposition Rentable Square Feet Contract Sales Price (1) Gain Recorded 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 2018 Dispositions: 8900-8980 Benson Avenue and 5637 Arrow Highway Inland Empire West 1/2/2018 88,016 $ 11,440 $ 4,029 700 Allen Avenue and 1851 Flower Street Los Angeles - San Fernando Valley 1/17/2018 25,168 $ 10,900 $ 4,753 200-220 South Grand Avenue Orange County - Airport 3/7/2018 27,200 $ 4,515 $ 1,201 6770 Central Avenue—Building B Inland Empire West 4/9/2018 11,808 $ 1,676 $ 1,113 1910-1920 Archibald Avenue Inland Empire West 5/9/2018 78,243 $ 9,050 $ 495 311 East 157th Street Los Angeles - South Bay 12/12/2018 12,000 $ 3,000 $ 1,578 329 East 157th Street Los Angeles - South Bay 12/20/2018 12,000 $ 2,675 $ 1,597 319 East 157th Street Los Angeles - South Bay 12/27/2018 24,000 $ 4,763 $ 2,456 Total 278,435 $ 48,019 $ 17,222 2017 Dispositions: 9375 Archibald Avenue Inland Empire West 3/31/2017 62,677 $ 6,875 $ 2,668 2535 Midway Drive San Diego - Central 5/17/2017 373,744 $ 40,050 $ 16,026 2811 Harbor Boulevard Orange County - Airport 6/28/2017 126,796 $ 18,700 $ 594 12345 First American Way San Diego - Central 10/31/2017 40,022 $ 7,600 $ 4,146 9401 De Soto Avenue Los Angeles - San Fernando Valley 11/2/2017 150,831 $ 23,000 $ 4,748 77-700 Enfield Lane Inland Empire East 11/29/2017 21,607 $ 2,431 $ 1,391 Total 775,677 $ 98,656 $ 29,573 (1) Represents the gross contractual sales price before commissions, prorations and other closing costs.

Stockholder's Equity (Tables)

Stockholder's Equity (Tables)	12 Months Ended
Stockholder's Equity (Tables)	Dec. 31, 2019
Equity [Abstract]
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, 2019 and 2018 , which consists solely of adjustments related to our cash flow hedges: Year Ended December 31, 2019 2018 Accumulated other comprehensive income - beginning balance $ 6,262 $ 6,799 Other comprehensive (loss) income before reclassifications (12,103 ) 649 Amounts reclassified from accumulated other comprehensive income to interest expense (2,038 ) (1,204 ) Net current period other comprehensive loss (14,141 ) (555 ) Less: other comprehensive loss attributable to noncontrolling interests 337 18 Other comprehensive loss attributable to common stockholders (13,804 ) (537 ) Accumulated other comprehensive (loss) income - ending balance $ (7,542 ) $ 6,262
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, 2019 , 2018 and 2017 : Common Stock Year Ended December 31, 2019 2018 2017 Ordinary Income $ 0.783269 100.00 % $ 0.623496 99.76 % $ 0.498827 95.68 % Return of Capital — — % 0.001504 0.24 % 0.022526 4.32 % Capital Gain — — % — — % — — % Total $ 0.783269 100.00 % $ 0.625000 100.00 % $ 0.521353 100.00 % Series A Preferred Stock Year Ended December 31, 2019 2018 2017 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 B Preferred Stock Series C Preferred Stock Year Ended December 31, Year Ended December 31, 2019 2018 2019 Ordinary Income $ 1.468752 100.00 % $ 1.664585 100.00 % $ 0.394531 100.00 % Return of Capital — — % — — % — — % Capital Gain — — % — — % — — % Total $ 1.468752 100.00 % $ 1.664585 100.00 % $ 0.394531 100.00 %

Incentive Award Plan (Tables)

Incentive Award Plan (Tables)	12 Months Ended
Incentive Award Plan (Tables)	Dec. 31, 2019
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: 2019 LTIP Award 2018 LTIP Award 2017 LTIP Award Valuation date December 16, 2019 December 15, 2018 December 15, 2017 Closing share price of common stock $ 45.74 $ 31.42 $ 30.58 Discount for post-vesting restrictions and book-up events 6.4 % 7.7 % 5.0 % Grant date fair value (in thousands) $ 5,148 $ 3,853 $ 3,563
Schedule of LTIP Unit Activity	The following table sets forth our unvested LTIP Unit activity for the years ended December 31, 2019 , 2018 and 2017 : Number of Unvested LTIP Units Weighted-Average Grant Date Fair Value per Unit Balance at December 31, 2016 241,691 $ 18.43 Granted 122,631 $ 29.05 Vested (70,837 ) $ 17.48 Balance at December 31, 2017 293,485 $ 23.10 Granted 190,318 $ 28.43 Vested (156,755 ) $ 23.29 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
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 Unit awards: Absolute TSR Base Units (1) Relative TSR Base Units (1) FFO Per-Share Base Units (1) Distribution Equivalent Units Total Performance Units 2019 Performance Award 118,339 74,033 85,898 16,724 294,994 2018 Performance Award 63,473 63,473 63,471 14,100 204,517 2017 Performance Award 70,000 105,000 — 13,250 188,250 (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”).
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 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 2018 Award < 18% — % < 35th Percentile — % < 12% — % “Threshold Level” 18 % 25 % 35th Percentile 25 % 12 % 25 % Jan 1, 2019 “Target Level” 24 % 60 % 55th Percentile 60 % 16.5 % 60 % to “Maximum Level” ≥ 30% 100 % ≥ 75th Percentile 100 % ≥ 21% 100 % Dec 31, 2021 2017 Award < 18% — % < 35th Percentile — % -- -- “Threshold Level” 18 % 25 % 35th Percentile 25 % -- -- Dec 15, 2017 “Target Level” 27 % 60 % 55th Percentile 60 % -- -- to “Maximum Level” ≥ 36% 100 % ≥ 75th Percentile 100 % -- -- Dec 14, 2020
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. 2019 Market Performance Award 2018 Market Performance Award 2017 Market Performance Award Valuation date December 16, 2019 December 15, 2018 December 15, 2017 Expected share price volatility for the Company 18.0 % 20.0 % 18.0 % Expected share price volatility for peer group companies - low end of range (1) 12.0 % 16.0 % 15.0 % Expected share price volatility for peer group companies - high end of range (1) 100.0 % 100.0 % 100.0 % Expected dividend yield 1.90 % 2.50 % 2.40 % Risk-free interest rate 1.74 % 2.80 % 1.96 % Grant date fair value (in thousands) $ 3,922 $ 2,090 $ 2,714 (1) 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. For the 2018 Market Performance Award, the median and average expected share price volatilities for the peer group companies are 23.0% and 27.1% , respectively. For the 2017 Market Performance Award, the median and average expected share price volatilities for the peer group companies are 21.0% and 25.3% , respectively.
Schedule of Unvested Restricted Stock Activity	The following table sets forth our unvested restricted stock activity for the years ended December 31, 2019 , 2018 and 2017 : Number of Unvested Shares of Restricted Common Stock Weighted-Average Grant Date Fair Value per Share Balance at December 31, 2016 287,827 $ 15.92 Granted 104,727 $ 23.78 Forfeited (35,959 ) $ 18.74 Vested (1)(2) (165,900 ) $ 15.43 Balance at December 31, 2017 190,695 $ 20.13 Granted 104,560 $ 27.72 Forfeited (13,031 ) $ 23.51 Vested (1)(2) (81,826 ) $ 19.40 Balance at December 31, 2018 200,398 $ 24.17 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 (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 $2.9 million , $2.4 million and $4.5 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. (2) Total shares vested include 24,618 , 21,324 and 57,444 shares of common stock that were tendered by employees during the years ended December 31, 2019 , 2018 and 2017 , respectively, to satisfy minimum statutory tax withholding requirements associated with the vesting of restricted shares of common stock.
Shareholders' Equity and Share-based Payments	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, 2019 2018 2017 Expensed share-based compensation (1) $ 10,756 $ 10,147 $ 5,398 Capitalized share-based compensation (2) 174 255 162 Total share-based compensation $ 10,930 $ 10,402 $ 5,560 (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, 2018 and 2017, amounts capitalized relate to employees who provide construction or leasing services and are included in “Building and improvements” and “Deferred leasing costs, net” in the consolidated balance sheets. For the year ended December 31, 2019 , amounts capitalized only relate to employees who provide construction services and are included in “Building and improvements” in the consolidated balance sheets.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
Earnings Per Share (Tables)	Dec. 31, 2019
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, 2019 2018 2017 Numerator: Net income $ 64,001 $ 47,075 $ 41,700 Less: Preferred stock dividends (11,055 ) (9,694 ) (5,875 ) Less: Net income attributable to noncontrolling interests (2,022 ) (865 ) (988 ) Less: Net income attributable to participating securities (447 ) (378 ) (410 ) Net income attributable to common stockholders $ 50,477 $ 36,138 $ 34,427 Denominator: Weighted average shares of common stock outstanding - basic 106,407,283 86,824,235 71,198,862 Effect of dilutive securities - performance units 391,765 511,514 399,792 Weighted average shares of common stock outstanding - diluted 106,799,048 87,335,749 71,598,654 Earnings per share - Basic Net income attributable to common stockholders $ 0.47 $ 0.42 $ 0.48 Earnings per share - Diluted: Net income attributable to common stockholders $ 0.47 $ 0.41 $ 0.48

Quarterly Information (unaudi_2

Quarterly Information (unaudited) (Tables)	12 Months Ended
Quarterly Information (unaudited) (Tables)	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Information	The following tables set forth selected quarterly information for the years ended December 31, 2019 and 2018 (in thousands except per share amounts): Three Months Ended December 31, 2019 September 30, 2019 June 30, 2019 March 31, 2019 Total revenues $ 74,399 $ 68,061 $ 64,390 $ 60,363 Net income $ 24,382 $ 12,948 $ 15,954 $ 10,717 Net income attributable to common stockholders $ 19,904 $ 9,746 $ 12,848 $ 7,979 Net income attributable to common stockholders per share - basic $ 0.18 $ 0.09 $ 0.12 $ 0.08 Net income attributable to common stockholders per share - diluted $ 0.18 $ 0.09 $ 0.12 $ 0.08 Three Months Ended December 31, 2018 September 30, 2018 June 30, 2018 March 31, 2018 Total revenues $ 57,008 $ 55,194 $ 51,756 $ 48,536 Net income $ 15,207 $ 8,965 $ 7,819 $ 15,084 Net income attributable to common stockholders $ 12,413 $ 6,307 $ 5,172 $ 12,246 Net income attributable to common stockholders per share - basic $ 0.13 $ 0.07 $ 0.06 $ 0.16 Net income attributable to common stockholders per share - diluted $ 0.13 $ 0.07 $ 0.06 $ 0.15

Organization - Additional Info

Organization - Additional Information (Detail) ft² in Millions	Dec. 31, 2019ft²property
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of real estate properties \| property	213
Area of real estate property (square feet) \| ft²	26.6
Number of real estate properties additionally managed \| property	19
Area of real estate property additionally managed \| ft²	1

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	Jan. 01, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Summary Of Significant Accounting Policies [Line Items]
Restricted cash		$ 0
Interest costs capitalized		3,900,000	$ 2,100,000	$ 1,700,000
Real estate taxes and insurance costs capitalized		1,300,000	900,000	1,200,000
Distributions from unconsolidated real estate entities		$ 0	0	11,000
REIT annual taxable income distribution requirement percentage		90.00%
Provision for doubtful accounts		$ 700,000	$ 1,200,000	1,100,000
Cumulative effect of adoption of ASC 842		$ (222,000)
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	20 years
Construction Employees
Summary Of Significant Accounting Policies [Line Items]
Compensation costs capitalized		$ 2,700,000	$ 2,200,000	1,900,000
Leasing Employees
Summary Of Significant Accounting Policies [Line Items]
Compensation costs capitalized			$ 1,000,000	1,000,000
Measurement Input, Discount Rate \| Minimum
Summary Of Significant Accounting Policies [Line Items]
Fair value inputs, discount rate		5.75%
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		4.50%
Measurement Input, Cap Rate \| Maximum
Summary Of Significant Accounting Policies [Line Items]
Fair value inputs, discount rate		7.25%
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
3233 Mission Oaks Blvd.
Summary Of Significant Accounting Policies [Line Items]
Distributions from unconsolidated real estate entities				$ 11,000
Accounting Standards Update 2016-02
Summary Of Significant Accounting Policies [Line Items]
Cumulative effect of adoption of ASC 842	$ (200,000)

Investments in Real Estate - S

Investments in Real Estate - Summary of Acquired Wholly Owned Industrial Properties (Details) $ in Thousands

Dec. 27, 2019USD ($)

Nov. 05, 2019USD ($)

Aug. 30, 2019USD ($)

Apr. 10, 2019USD ($)shares

Dec. 28, 2018USD ($)

May 18, 2018USD ($)ft²

Apr. 26, 2018USD ($)

Apr. 04, 2018USD ($)

Feb. 23, 2018USD ($)

Jan. 17, 2018USD ($)

Dec. 31, 2019USD ($)ft²propertybuilding

Dec. 31, 2018USD ($)ft²building

Dec. 31, 2017USD ($)ft²

Real Estate [Line Items]

Rentable Square Feet | ft²

5,365,929

3,062,487

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 970,697

$ 492,850

Payments to acquire real estate

$ 943,382

$ 494,202

$ 664,361

12821 Knott Street

Real Estate [Line Items]

Date of Acquisition

Jan. 15,
2019

Rentable Square Feet | ft²

120,800

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 19,800

28510 Industry Drive

Real Estate [Line Items]

Date of Acquisition

Jan. 17,
2019

Rentable Square Feet | ft²

46,778

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 7,765

Conejo Spectrum Business Park

Real Estate [Line Items]

Date of Acquisition

Jan. 28,
2019

Rentable Square Feet | ft²

531,378

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 106,250

2455 Ash Street

Real Estate [Line Items]

Date of Acquisition

Mar. 5,
2019

Rentable Square Feet | ft²

42,508

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 6,680

25413 Rye Canyon Road

Real Estate [Line Items]

Date of Acquisition

Mar. 12,
2019

Rentable Square Feet | ft²

48,075

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 5,529

1515 15th Street

Real Estate [Line Items]

Date of Acquisition

Apr. 10,
2019

Rentable Square Feet | ft²

238,015

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 28,100

13890 Nelson Avenue

Real Estate [Line Items]

Date of Acquisition

Apr. 12,
2019

Rentable Square Feet | ft²

256,993

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 41,810

445-449 Freedom Avenue

Real Estate [Line Items]

Date of Acquisition

Apr. 12,
2019

Rentable Square Feet | ft²

92,647

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 17,960

2270 Camino Vida Roble

Real Estate [Line Items]

Date of Acquisition

Apr. 12,
2019

Rentable Square Feet | ft²

106,311

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 16,791

980 Rancheros Drive

Real Estate [Line Items]

Date of Acquisition

Apr. 16,
2019

Rentable Square Feet | ft²

48,878

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 7,895

1145 Arroyo Avenue

Real Estate [Line Items]

Date of Acquisition

Apr. 25,
2019

Rentable Square Feet | ft²

147,019

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 29,862

1150 Aviation Place

Real Estate [Line Items]

Date of Acquisition

Apr. 25,
2019

Rentable Square Feet | ft²

147,000

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 29,694

1175 Aviation Place

Real Estate [Line Items]

Date of Acquisition

Apr. 25,
2019

Rentable Square Feet | ft²

92,455

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 17,844

1245 Aviation Place

Real Estate [Line Items]

Date of Acquisition

Apr. 25,
2019

Rentable Square Feet | ft²

132,936

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 26,055

635 8th Street

Real Estate [Line Items]

Date of Acquisition

Apr. 25,
2019

Rentable Square Feet | ft²

72,250

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 14,659

10015 Waples Court

Real Estate [Line Items]

Date of Acquisition

Apr. 25,
2019

Rentable Square Feet | ft²

106,412

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 21,300

19100 Susana Road

Real Estate [Line Items]

Date of Acquisition

Apr. 30,
2019

Rentable Square Feet | ft²

52,714

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 13,510

15385 Oxnard Street

Real Estate [Line Items]

Date of Acquisition

May 3,
2019

Rentable Square Feet | ft²

71,467

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 16,800

9750-9770 San Fernando Road

Real Estate [Line Items]

Date of Acquisition

May 16,
2019

Rentable Square Feet | ft²

35,624

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 7,440

218 S. Turnbull Canyon

Real Estate [Line Items]

Date of Acquisition

May 31,
2019

Rentable Square Feet | ft²

190,900

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 27,100

The Merge [Member]

Real Estate [Line Items]

Date of Acquisition

Jun. 6,
2019

Rentable Square Feet | ft²

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 23,200

Future rentable area | ft²

334,000

Buildings to be constructed | building

Purchase Price Selller Developer Escrow Holdback

$ 5,100

3340 San Fernando Road

Real Estate [Line Items]

Date of Acquisition

Jul. 3,
2019

Rentable Square Feet | ft²

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 3,000

5725 Eastgate Drive

Real Estate [Line Items]

Date of Acquisition

Jul. 31,
2019

Rentable Square Feet | ft²

27,267

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 8,150

18115 Main Street

Real Estate [Line Items]

Date of Acquisition

Aug. 29,
2019

Rentable Square Feet | ft²

42,270

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 6,750

3150 Ana Street

Real Estate [Line Items]

Date of Acquisition

Aug. 29,
2019

Rentable Square Feet | ft²

105,970

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 18,800

1402 Avenida Del Oro

Real Estate [Line Items]

Date of Acquisition

Aug. 30,
2019

Rentable Square Feet | ft²

311,995

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 73,550

9607-9623 Imperial Highway

Real Estate [Line Items]

Date of Acquisition

Sep. 5,
2019

Rentable Square Feet | ft²

7,466

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 10,510

12200 Bellflower Boulevard

Real Estate [Line Items]

Date of Acquisition

Sep. 5,
2019

Rentable Square Feet | ft²

54,161

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 16,325

Storm Parkway

Real Estate [Line Items]

Date of Acquisition

Sep. 17,
2019

Rentable Square Feet | ft²

267,503

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 66,165

2328 Teller Road

Real Estate [Line Items]

Date of Acquisition

Sep. 25,
2019

Rentable Square Feet | ft²

126,317

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 23,273

6277-6289 Slauson Avenue

Real Estate [Line Items]

Date of Acquisition

Oct. 3,
2019

Rentable Square Feet | ft²

336,085

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 41,263

750 Manville Street

Real Estate [Line Items]

Date of Acquisition

Oct. 4,
2019

Rentable Square Feet | ft²

59,996

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 11,510

8985 Crestmar Point

Real Estate [Line Items]

Date of Acquisition

Oct. 25,
2019

Rentable Square Feet | ft²

55,816

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 7,985

404-430 Berry Way

Real Estate [Line Items]

Date of Acquisition

Nov. 5,
2019

Rentable Square Feet | ft²

120,250

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 27,600

415-435 Motor Avenue

Real Estate [Line Items]

Date of Acquisition

Nov. 13,
2019

Rentable Square Feet | ft²

63,900

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 7,200

508 East E Street

Real Estate [Line Items]

Date of Acquisition

Nov. 20,
2019

Rentable Square Feet | ft²

57,522

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 14,892

12752-12822 Monarch Street

Real Estate [Line Items]

Date of Acquisition

Nov. 22,
2019

Rentable Square Feet | ft²

276,585

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 34,000

1601 Mission Blvd.

Real Estate [Line Items]

Date of Acquisition

Dec. 10,
2019

Rentable Square Feet | ft²

751,528

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 87,780

2757 Del Amo Blvd.

Real Estate [Line Items]

Date of Acquisition

Dec. 11,
2019

Rentable Square Feet | ft²

57,300

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 11,900

18250 Euclid Street

Real Estate [Line Items]

Date of Acquisition

Dec. 27,
2019

Rentable Square Feet | ft²

62,838

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 14,000

13971 Norton Avenue

Real Estate [Line Items]

Date of Acquisition

Jan. 17,
2018

Rentable Square Feet | ft²

103,208

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 11,364

1900 Proforma Avenue

Real Estate [Line Items]

Date of Acquisition

Feb. 23,
2018

Rentable Square Feet | ft²

213,603

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 24,122

16010 Shoemaker Avenue

Real Estate [Line Items]

Date of Acquisition

Mar. 13,
2018

Rentable Square Feet | ft²

115,600

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 17,218

4039 Calle Platino

Real Estate [Line Items]

Date of Acquisition

Apr. 4,
2018

Rentable Square Feet | ft²

143,274

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 20,000

851 Lawrence Drive

Real Estate [Line Items]

Date of Acquisition

Apr. 5,
2018

Rentable Square Feet | ft²

49,976

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 6,600

1581 North Main Street

Real Estate [Line Items]

Date of Acquisition

Apr. 6,
2018

Rentable Square Feet | ft²

39,661

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 7,150

1580 West Carson Street

Real Estate [Line Items]

Date of Acquisition

Apr. 26,
2018

Rentable Square Feet | ft²

43,787

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 7,500

660 & 664 North Twin Oaks Valley Road

Real Estate [Line Items]

Date of Acquisition

Apr. 26,
2018

Rentable Square Feet | ft²

96,993

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 14,000

1190 Stanford Court

Real Estate [Line Items]

Date of Acquisition

May 8,
2018

Rentable Square Feet | ft²

34,494

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 6,080

5300 Sheila Street

Real Estate [Line Items]

Date of Acquisition

May 9,
2018

Rentable Square Feet | ft²

695,120

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 121,000

15777 Gateway Circle

Real Estate [Line Items]

Date of Acquisition

May 17,
2018

Rentable Square Feet | ft²

37,592

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 8,050

1998 Surveyor Avenue

Real Estate [Line Items]

Date of Acquisition

May 18,
2018

Rentable Square Feet | ft²

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 5,821

Payments to acquire real estate

$ 5,800

Assumed construction contract

$ 4,400

3100 Fujita Street

Real Estate [Line Items]

Date of Acquisition

May 31,
2018

Rentable Square Feet | ft²

91,516

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 14,037

4416 Azusa Canyon Road

Real Estate [Line Items]

Date of Acquisition

Jun. 8,
2018

Rentable Square Feet | ft²

70,510

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 12,000

1420 McKinley Avenue

Real Estate [Line Items]

Date of Acquisition

Jun. 12,
2018

Rentable Square Feet | ft²

136,685

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 30,000

12154 Montague Street

Real Estate [Line Items]

Date of Acquisition

Jun. 29,
2018

Rentable Square Feet | ft²

122,868

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 22,525

10747 Norwalk Boulevard

Real Estate [Line Items]

Date of Acquisition

Jul. 18,
2018

Rentable Square Feet | ft²

52,691

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 10,835

29003 Avenue Sherman

Real Estate [Line Items]

Date of Acquisition

Jul. 19,
2018

Rentable Square Feet | ft²

68,123

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 9,500

16121 Carmenita Road

Real Estate [Line Items]

Date of Acquisition

Aug. 14,
2018

Rentable Square Feet | ft²

108,500

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 13,300

1332-1340 Rocky Point Drive

Real Estate [Line Items]

Date of Acquisition

Oct. 17,
2018

Rentable Square Feet | ft²

73,747

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 10,170

6131-6133 Innovation Way

Real Estate [Line Items]

Date of Acquisition

Nov. 6,
2018

Rentable Square Feet | ft²

114,572

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 24,200

263-321 Gardena Boulevard

Real Estate [Line Items]

Date of Acquisition

Nov. 8,
2018

Rentable Square Feet | ft²

55,238

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 16,101

9200 Mason Avenue

Real Estate [Line Items]

Date of Acquisition

Nov. 30,
2018

Rentable Square Feet | ft²

80,410

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 9,041

9230 Mason Avenue

Real Estate [Line Items]

Date of Acquisition

Nov. 30,
2018

Rentable Square Feet | ft²

54,000

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 5,300

9250 Mason Avenue

Real Estate [Line Items]

Date of Acquisition

Nov. 30,
2018

Rentable Square Feet | ft²

56,292

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 6,626

9171 Oso Avenue

Real Estate [Line Items]

Date of Acquisition

Nov. 30,
2018

Rentable Square Feet | ft²

65,560

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 8,565

5593-5595 Fresca Drive

Real Estate [Line Items]

Date of Acquisition

Nov. 30,
2018

Rentable Square Feet | ft²

115,200

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 14,000

6100 Sheila Street

Real Estate [Line Items]

Date of Acquisition

Dec. 7,
2018

Rentable Square Feet | ft²

74,527

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 18,245

14421-14441 Bonelli Street

Real Estate [Line Items]

Date of Acquisition

Dec. 28,
2018

Rentable Square Feet | ft²

148,740

Number of buildings | building

Contractual Purchase Price (in thousands)

$ 19,500

1900 Proforma Avenue and 1910-1920 Archibald Avenue

Real Estate [Line Items]

Number of buildings | property

1031 Exchange | 1402 Avenida Del Oro

Real Estate [Line Items]

Payments to acquire real estate

$ 12,300

1031 Exchange | 404-430 Berry Way

Real Estate [Line Items]

Payments to acquire real estate

$ 10,600

1031 Exchange | 18250 Euclid Street

Real Estate [Line Items]

Payments to acquire real estate

$ 9,400

1031 Exchange | 13971 Norton Avenue

Real Estate [Line Items]

Payments to acquire real estate

$ 10,700

1031 Exchange | 1900 Proforma Avenue

Real Estate [Line Items]

Payments to acquire real estate

$ 10,300

1031 Exchange | 4039 Calle Platino

Real Estate [Line Items]

Payments to acquire real estate

$ 4,200

1031 Exchange | 1580 West Carson Street

Real Estate [Line Items]

Payments to acquire real estate

$ 1,600

1031 Exchange | 14421-14441 Bonelli Street

Real Estate [Line Items]

Payments to acquire real estate

$ 9,800

Construction in progress | 1998 Surveyor Avenue

Real Estate [Line Items]

Rentable Square Feet | ft²

56,306

Series 1 CPOP Units | 1515 15th Street

Real Estate [Line Items]

Acquisition, Preferred Units, Issued | shares

593,960

Preferred stock, interest

4.43937%

Disposal Group, Disposed of by Sale, Not Discontinued Operations

Real Estate [Line Items]

Rentable Square Feet | ft²

182,362

278,435

775,677

Disposal Group, Disposed of by Sale, Not Discontinued Operations | 311 East 157th Street, 329 East 157th Street and 319 East 157th Street

Real Estate [Line Items]

Number of buildings sold | building

Investments in Real Estate -_2

Investments in Real Estate - Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Assets:
Land	$ 637,478	$ 312,410
Buildings and improvements	308,950	198,362
Tenant improvements	6,553	2,739
Acquired lease intangible assets	39,502	26,085
Other acquired assets	747	206
Total assets acquired	993,230	539,802
Liabilities:
Acquired lease intangible liabilities	15,796	41,778
Other assumed liabilities	5,768	2,247
Total liabilities assumed	21,564	44,025
Net assets acquired	$ 971,666	$ 495,777
Below Market Lease, Weighted Average Useful Life	6 years 1 month 6 days	26 years 3 months 18 days
In-place Lease Intangibles
Liabilities:
Finite-Lived Intangible Asset, Acquired-in-Place Leases	$ 36,300	$ 25,500
Amortization period of acquired intangible assets	6 years 2 months 12 days	14 years 9 months 18 days
Above-market tenant leases
Liabilities:
Finite-Lived Intangible Asset, Off-market Lease, Favorable, Gross	$ 3,200	$ 600
Amortization period of acquired intangible assets	8 years 8 months 12 days	7 years 1 month 6 days

Acquired Lease Intangibles - S

Acquired Lease Intangibles - Summary of Acquired Lease Intangible Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Acquired Finite Lived Intangible Assets [Line Items]
Total	$ 73,090		$ 55,683
Acquired lease intangible liabilities, net	(59,340)		(52,727)
In-place lease intangibles
Acquired Finite Lived Intangible Assets [Line Items]
Acquired lease intangible assets, gross	154,370		119,517
Accumulated amortization	(87,955)		(68,481)
Total	66,415		51,036
Above-market tenant leases
Acquired Finite Lived Intangible Assets [Line Items]
Acquired lease intangible assets, gross	14,296		11,125
Accumulated amortization	(7,621)		(6,478)
Total	6,675		4,647
Below-market tenant leases
Acquired Finite Lived Intangible Assets [Line Items]
Acquired lease intangible liabilities, gross	(81,718)		(66,388)
Accumulated accretion	22,378		13,778
Acquired lease intangible liabilities, net	(59,340)		(52,610)
Above Market Ground Lease
Acquired Finite Lived Intangible Assets [Line Items]
Acquired lease intangible liabilities, gross	0		(290)
Accumulated accretion	0		173
Acquired lease intangible liabilities, net	$ 0		$ (117)
Accounting Standards Update 2016-02 \| Above Market Ground Lease
Acquired Finite Lived Intangible Assets [Line Items]
Acquired lease intangible liabilities, net		$ (100)

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, 2019	Dec. 31, 2018	Dec. 31, 2017
Acquired Finite Lived Intangible Assets [Line Items]
Amortization of (below) above market lease intangibles, net	$ (7,907)	$ (5,981)	$ (2,270)
In-place Lease Intangibles
Acquired Finite Lived Intangible Assets [Line Items]
Amortization of in-place lease intangibles	20,936	18,135	15,598
Net above (below) market tenant leases
Acquired Finite Lived Intangible Assets [Line Items]
Amortization of (below) above market lease intangibles, net	(7,907)	(5,949)	(2,238)
Above Market Ground Lease
Acquired Finite Lived Intangible Assets [Line Items]
Accretion of above market ground lease intangible	$ 0	$ (32)	$ (32)

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, 2019	Dec. 31, 2018
Acquired Finite Lived Intangible Assets [Line Items]
Total	$ 73,090	$ 55,683
In-place Lease Intangibles
Acquired Finite Lived Intangible Assets [Line Items]
2020	18,687
2021	11,713
2022	7,278
2023	5,750
2024	4,045
Thereafter	18,942
Total	66,415
Net Above/(Below) Market Operating Leases
Acquired Finite Lived Intangible Assets [Line Items]
2020	8,790
2021	5,416
2022	3,693
2023	3,081
2024	2,479
Thereafter	29,206
Total	$ 52,665

Notes Payable - Summary of Not

Notes Payable - Summary of Notes Payable (Detail) $ in Thousands	May 22, 2018USD ($)	Feb. 14, 2017	Jul. 24, 2013	Dec. 31, 2019USD ($)swapextension	Dec. 31, 2018USD ($)	Jul. 16, 2019USD ($)	Jun. 27, 2018USD ($)	Jan. 16, 2018USD ($)
Debt Instrument [Line Items]
Principal amount				$ 860,958	$ 761,116
Less: unamortized discount and debt issuance costs				(3,116)	(3,745)
Notes payable				$ 857,842	757,371
$60 Million Term Loan Facility
Debt Instrument [Line Items]
Principal amount							$ 60,000
Extension period				24 months
$60 Million Term Loan Facility \| Term Loan
Debt Instrument [Line Items]
Principal amount				$ 58,499	58,499
Less: unamortized discount and debt issuance costs				$ (179)	(230)
Maturity date				Aug. 1, 2023
Number of extensions \| extension				1
$100M Term Loan Facility \| Term Loan
Debt Instrument [Line Items]
Principal amount				$ 100,000	100,000
Less: unamortized discount and debt issuance costs				$ (177)	(260)
Maturity date				Feb. 14, 2022
Revolving Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Principal amount				$ 0	0
Less: unamortized discount and debt issuance costs				$ 0	0
Maturity date				Feb. 12, 2021
Number of extensions \| extension				2
Extension duration period				6 months
$225M Term Loan Facility
Debt Instrument [Line Items]
Number of derivative instruments \| swap				2
$225M Term Loan Facility \| Term Loan
Debt Instrument [Line Items]
Principal amount				$ 225,000	225,000			$ 225,000
Less: unamortized discount and debt issuance costs				$ (1,104)	(1,476)
Maturity date				Jan. 14, 2023
$150M Term Loan Facility
Debt Instrument [Line Items]
Principal amount	$ 150,000
$150M Term Loan Facility \| Term Loan
Debt Instrument [Line Items]
Principal amount				$ 150,000	150,000
Less: unamortized discount and debt issuance costs				$ (866)	(1,028)
Maturity date				May 22, 2025
LIBOR \| Revolving Credit Facility
Debt Instrument [Line Items]
Variable rate basis				LIBOR
Basis spread on variable rate				1.10%
LIBOR \| $60 Million Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate			1.90%
LIBOR \| $60 Million Term Loan Facility \| Term Loan
Debt Instrument [Line Items]
Variable rate basis				LIBOR
Basis spread on variable rate				1.70%
Effective Interest Rate				3.55%
LIBOR \| $100M Term Loan Facility \| Term Loan
Debt Instrument [Line Items]
Variable rate basis				LIBOR
Basis spread on variable rate				1.20%
Effective Interest Rate				3.05%
LIBOR \| Revolving Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Effective Interest Rate				2.86%
LIBOR \| $225M Term Loan Facility \| Term Loan
Debt Instrument [Line Items]
Variable rate basis				LIBOR
Basis spread on variable rate				1.20%
Effective Interest Rate				2.74%
LIBOR \| $150M Term Loan Facility \| Term Loan
Debt Instrument [Line Items]
Variable rate basis				LIBOR
Basis spread on variable rate				1.50%
Effective Interest Rate				4.37%
Fixed Rate Debt \| Gilbert La Palma
Debt Instrument [Line Items]
Principal amount				$ 2,459	2,617
Less: unamortized discount and debt issuance costs				$ (121)	(129)
Maturity date				Mar. 1, 2031
Fixed interest rate				5.125%
Effective Interest Rate				5.48%
Amortization period				20 years
Senior Notes \| $100M Notes
Debt Instrument [Line Items]
Principal amount				$ 100,000	100,000
Less: unamortized discount and debt issuance costs				$ (424)	(500)
Maturity date				Aug. 6, 2025
Fixed interest rate				4.29%
Effective Interest Rate				4.37%
Senior Notes \| $125M Notes
Debt Instrument [Line Items]
Principal amount				$ 125,000	125,000
Less: unamortized discount and debt issuance costs				$ (108)	(122)
Maturity date				Jul. 13, 2027
Fixed interest rate				3.93%
Effective Interest Rate				3.94%
Senior Notes \| $25M Series 2019A Notes
Debt Instrument [Line Items]
Principal amount				$ 25,000	0	$ 25,000
Less: unamortized discount and debt issuance costs				$ (34)	0
Maturity date				Jul. 16, 2029
Fixed interest rate				3.88%
Effective Interest Rate				3.89%
Senior Notes \| $75M Series 2019B Notes
Debt Instrument [Line Items]
Principal amount				$ 75,000	0	$ 75,000
Less: unamortized discount and debt issuance costs				$ (103)	$ 0
Maturity date				Jul. 16, 2034
Fixed interest rate				4.03%
Effective Interest Rate				4.04%
Minimum \| Revolving Credit Facility
Debt Instrument [Line Items]
Commitment fee percentage				0.15%
Minimum \| LIBOR \| Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate				1.10%
Minimum \| LIBOR \| $100M Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate		1.20%
Minimum \| LIBOR \| $100M Term Loan Facility \| Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate				1.20%
Minimum \| LIBOR \| $225M Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate					1.50%
Minimum \| LIBOR \| $225M Term Loan Facility \| Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate				1.20%
Minimum \| LIBOR \| $150M Term Loan Facility \| Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
Maximum \| Revolving Credit Facility
Debt Instrument [Line Items]
Commitment fee percentage				0.30%
Maximum \| LIBOR \| Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate				1.50%
Maximum \| LIBOR \| $100M Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate		1.70%
Maximum \| LIBOR \| $100M Term Loan Facility \| Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate				1.70%
Maximum \| LIBOR \| $225M Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate					2.25%
Maximum \| LIBOR \| $225M Term Loan Facility \| Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate				1.70%
Maximum \| LIBOR \| $150M Term Loan Facility \| Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate	2.20%
Amortizing Swap \| Fixed Rate Debt \| $100M Term Loan Facility
Debt Instrument [Line Items]
Number of derivative instruments \| swap				1

Notes Payable - Summary of Agg

Notes Payable - Summary of Aggregate Future Minimum Payments of Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
2020	$ 166
2021	566
2022	100,967
2023	282,518
2024	204
Thereafter	476,537
Total	$ 860,958	$ 761,116

Notes Payable - Additional Inf

Notes Payable - Additional Information (Detail)	May 22, 2020	May 22, 2019	Jun. 27, 2018USD ($)	May 22, 2018USD ($)	Jan. 16, 2018USD ($)	Feb. 14, 2017USD ($)extension	Jul. 24, 2013	Dec. 31, 2019USD ($)propertyextension	Dec. 31, 2018USD ($)	Jul. 16, 2019USD ($)
Debt Instrument [Line Items]
Principal amount								$ 860,958,000	$ 761,116,000
$150M Term Loan Facility
Debt Instrument [Line Items]
Principal amount				$ 150,000,000
Contingent additional borrowings				$ 100,000,000
Prepayment premium, percent		2.00%
$60 Million Term Loan Facility
Debt Instrument [Line Items]
Principal amount			$ 60,000,000
Extension period								24 months
Interest only payment extension period			36 months
Principal payments			$ 65,250
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 \| Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Commitment fee percentage investment grade rating pricing structure						0.125%
Maximum \| Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Commitment fee percentage investment grade rating pricing structure						0.30%
Amended Facility
Debt Instrument [Line Items]
Maximum ratio of total indebtedness to total asset value								60.00%
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%
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
Maximum distribution amount per Credit Facility, percent								95.00%
$225 and $150 Million Term Loan Facilities
Debt Instrument [Line Items]
Maximum ratio of secured debt to total asset value								45.00%
Senior Notes, 100 and 125 Million
Debt Instrument [Line Items]
Maximum ratio of secured debt to total asset value								40.00%
Series 2019A and 2019B Notes
Debt Instrument [Line Items]
Principal amount										$ 100,000,000
Prepayment of principal, minimum amount										$ 2,500,000
Principal prepayment percentage										100.00%
Senior Notes \| $25M Series 2019A Notes
Debt Instrument [Line Items]
Principal amount								$ 25,000,000	0	$ 25,000,000
Percentage rate										3.88%
Maturity date								Jul. 16, 2029
Senior Notes \| $75M Series 2019B Notes
Debt Instrument [Line Items]
Principal amount								$ 75,000,000	$ 0	$ 75,000,000
Percentage rate										4.03%
Maturity date								Jul. 16, 2034
LIBOR \| $60 Million Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate							1.90%
LIBOR \| Minimum \| $225M Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate									1.50%
LIBOR \| Minimum \| Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate						1.10%
Basis spread on variable rate investment grade rating pricing structure						0.825%
LIBOR \| Minimum \| $100M Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate						1.20%
Basis spread on variable rate investment grade rating pricing structure						0.90%
LIBOR \| Maximum \| $225M Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate									2.25%
LIBOR \| Maximum \| Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate						1.50%
Basis spread on variable rate investment grade rating pricing structure						1.55%
LIBOR \| Maximum \| $100M Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate						1.70%
Basis spread on variable rate investment grade rating pricing structure						1.75%
Base Rate \| Minimum \| $225M Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate					0.20%				0.50%
Base Rate \| Minimum \| $150M Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate				0.50%
Basis spread on variable rate investment grade rating pricing structure				0.40%
Base Rate \| Minimum \| Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate						0.10%
Basis spread on variable rate investment grade rating pricing structure						0.00%
Base Rate \| Minimum \| $100M Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate						0.20%
Basis spread on variable rate investment grade rating pricing structure						0.00%
Base Rate \| Maximum \| $225M Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate					0.70%				1.25%
Base Rate \| Maximum \| $150M Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate				1.20%
Basis spread on variable rate investment grade rating pricing structure				1.35%
Base Rate \| Maximum \| Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate						0.50%
Basis spread on variable rate investment grade rating pricing structure						0.55%
Base Rate \| Maximum \| $100M Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate						0.70%
Basis spread on variable rate investment grade rating pricing structure						0.75%
Eurodollar \| Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate						1.00%
Eurodollar \| Minimum \| $150M Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate investment grade rating pricing structure				1.40%
Eurodollar \| Maximum \| $150M Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate				1.00%
Basis spread on variable rate investment grade rating pricing structure				2.35%
Federal Funds Rate \| $150M Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate				0.50%
Federal Funds Rate \| Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate						0.50%
Term Loan \| $225M Term Loan Facility
Debt Instrument [Line Items]
Principal amount					$ 225,000,000			$ 225,000,000	$ 225,000,000
Maturity date								Jan. 14, 2023
Term Loan \| $150M Term Loan Facility
Debt Instrument [Line Items]
Principal amount								$ 150,000,000	150,000,000
Maturity date								May 22, 2025
Term Loan \| $60 Million Term Loan Facility
Debt Instrument [Line Items]
Number Of Properties Securing Loan \| property								6
Principal amount								$ 58,499,000	58,499,000
Maturity date								Aug. 1, 2023
Number of extensions \| extension								1
Term Loan \| $100M Term Loan Facility
Debt Instrument [Line Items]
Principal amount								$ 100,000,000	$ 100,000,000
Maturity date								Feb. 14, 2022
Term Loan \| Line of Credit \| $100M Term Loan Facility
Debt Instrument [Line Items]
Maximum borrowing capacity						$ 100,000,000
Term Loan \| LIBOR \| $225M Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate								1.20%
Term Loan \| LIBOR \| $150M Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate								1.50%
Term Loan \| LIBOR \| $60 Million Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate								1.70%
Term Loan \| LIBOR \| $100M Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate								1.20%
Term Loan \| LIBOR \| Minimum \| $225M Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate								1.20%
Term Loan \| LIBOR \| Minimum \| $150M Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate				1.50%
Term Loan \| LIBOR \| Minimum \| $100M Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate								1.20%
Term Loan \| LIBOR \| Maximum \| $225M Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate								1.70%
Term Loan \| LIBOR \| Maximum \| $150M Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate				2.20%
Term Loan \| LIBOR \| Maximum \| $100M Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate								1.70%
Unsecured Credit Facility \| Line of Credit \| $450 Million Senior Credit Facility
Debt Instrument [Line Items]
Contingent additional borrowings						550,000,000
Maximum borrowing capacity						450,000,000
Revolving Credit Facility \| Minimum
Debt Instrument [Line Items]
Commitment fee percentage								0.15%
Revolving Credit Facility \| Maximum
Debt Instrument [Line Items]
Commitment fee percentage								0.30%
Revolving Credit Facility \| Line of Credit \| Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity						$ 350,000,000
Number of extensions \| extension						2
Extension duration period						6 months
Revolving Credit Facility \| Unsecured Credit Facility
Debt Instrument [Line Items]
Additional availability								$ 350,000,000
Revolving Credit Facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate								1.10%
Revolving Credit Facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate								1.10%
Revolving Credit Facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate								1.50%
Scenario, Forecast \| $150M Term Loan Facility
Debt Instrument [Line Items]
Prepayment premium, percent	1.00%
External Credit Rating, Additional Investment Grade Rating \| LIBOR \| Minimum \| $225M Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate					0.90%			1.40%
External Credit Rating, Additional Investment Grade Rating \| LIBOR \| Maximum \| $225M Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate					1.75%			2.35%
External Credit Rating, Additional Investment Grade Rating \| Base Rate \| Minimum \| $225M Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate					0.00%			0.40%
External Credit Rating, Additional Investment Grade Rating \| Base Rate \| Maximum \| $225M Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate					0.75%			1.35%

Operating Leases - Additional I

Operating Leases - Additional Information (Detail) a in Thousands, ft² in Millions	Mar. 13, 2017USD ($)	Sep. 14, 2016a	Jul. 02, 2019USD ($)	Dec. 31, 2019USD ($)ft²	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Jan. 01, 2019USD ($)
Lessee, Lease, Description [Line Items]
Operating lease, fixed and variable lease payments				$ 256,300,000
Lease income, lease payments				214,500,000
Variable lease payments				41,800,000
Lease liabilities				3,776,000			$ 3,600,000
Right-of-use assets				3,500,000			$ 3,300,000
Operating leases, not yet commenced				$ 3,400,000
Operating leases, not yet commenced, term				5 years
Area of real estate property (square feet) \| ft²				26.6
Land
Lessee, Lease, Description [Line Items]
Ground lease, expiration date			Jun. 1, 2062
Rent adjustment term			10 years
Rent adjustment percentage			8.00%
Minimum monthly rent expense			$ 12,000
Minimum \| Office Building
Lessee, Lease, Description [Line Items]
Remaining lease term				4 months
Renewal term				3 years
Maximum \| Office Building
Lessee, Lease, Description [Line Items]
Remaining lease term				5 years
Renewal term				5 years
Ground Lease
Lessee, Lease, Description [Line Items]
Rent expense					$ 100,000	$ 100,000
Office Lease
Lessee, Lease, Description [Line Items]
Rent expense					$ 700,000	$ 500,000
Corona, CA \| Ground Lease
Lessee, Lease, Description [Line Items]
Area of real estate property (square feet) \| a		1,580
Operating leases, contingency period		420 days
Corona lease transaction costs	$ 300,000

Operating Leases - Future Minim

Operating Leases - Future Minimum Base Rents Under Operating Leases (Detail) $ in Thousands	Dec. 31, 2019USD ($)
Leases [Abstract]
2020	$ 232,304
2021	198,408
2022	160,341
2023	125,869
2024	89,630
Thereafter	307,584
Total	$ 1,114,136

Operating Leases - Lease Cost (

Operating Leases - Lease Cost (Detail) $ in Thousands	12 Months Ended
Operating Leases - Lease Cost (Detail) $ in Thousands	Dec. 31, 2019USD ($)
Leases [Abstract]
Operating lease cost	$ 1,044
Variable lease cost	54
Sublease income	(162)
Total lease cost	$ 936

Operating Leases - Other Inform

Operating Leases - Other Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 961
Right-of-use assets obtained in exchange for new operating lease liabilities	6,720
Operating lease right-of-use assets obtained in exchange for lease liabilities upon adoption of ASC 842 on January 1, 2019	$ 3,262	$ 0	$ 0

Operating Leases - Lease Term a

Operating Leases - Lease Term and Discount Rate (Detail)	Dec. 31, 2019
Leases [Abstract]
Weighted-average remaining lease term	4 years 8 months 12 days
Weighted-average discount rate	3.92%

Operating Leases - Lease Liabil

Operating Leases - Lease Liability Maturities (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2020	$ 805
2021	888
2022	779
2023	807
2024	826
Thereafter	69
Total undiscounted lease payments	4,174
Less imputed interest	(398)
Total lease liabilities	$ 3,776	$ 3,600
Office Building
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2019			$ 668
2020			257
2021			167
2022			0
2023			0
Thereafter			0
Total			1,092
Land
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2019			144
2020			144
2021			144
2022			144
2023			144
Thereafter			5,532
Total			$ 6,252

Interest Rate Swaps - Addition

Interest Rate Swaps - Additional Information (Detail) $ in Millions	Dec. 31, 2019USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net	$ 1.4

Interest Rate Swaps - Summary

Interest Rate Swaps - Summary of Interest Rate Swap Agreements (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Interest Rate Swap $30M Notional Effective January 15, 2015
Derivative [Line Items]
Effective Date	Jan. 15, 2015
Maturity Date	Feb. 15, 2019
LIBOR Interest Strike Rate	1.826%
Current Notional Amount	$ 0	$ 30,000
Fair Value of Interest Rate Derivative Assets/(Derivative Liabilities)	$ 0	25
Interest Rate Swap $30M Notional Effective July 15, 2015
Derivative [Line Items]
Effective Date	Jul. 15, 2015
Maturity Date	Feb. 15, 2019
LIBOR Interest Strike Rate	2.01%
Current Notional Amount	$ 0	28,108
Fair Value of Interest Rate Derivative Assets/(Derivative Liabilities)	$ 0	17
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	$ 125,000	125,000
Fair Value of Interest Rate Derivative Assets/(Derivative Liabilities)	$ 489	3,974
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	$ 100,000	100,000
Fair Value of Interest Rate Derivative Assets/(Derivative Liabilities)	$ 277	3,023
Interest Rate Swap $100M Notional Effective December 14, 2018
Derivative [Line Items]
Effective Date	Dec. 14, 2018
Maturity Date	Aug. 14, 2021
LIBOR Interest Strike Rate	1.764%
Current Notional Amount	$ 100,000	100,000
Fair Value of Interest Rate Derivative Assets/(Derivative Liabilities)	$ (332)	1,731
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	0
Fair Value of Interest Rate Derivative Assets/(Derivative Liabilities)	$ (8,156)	$ (2,351)

Interest Rate Swaps - Impact o

Interest Rate Swaps - Impact of Derivative Instruments on Consolidated and Combined Statements of Operations - (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Amount of (loss) gain recognized in AOCI on derivatives	$ (12,103)	$ 649	$ 2,084
Amount of gain (loss) reclassified from AOCI into earnings as “Interest expense”	2,038	1,204	(1,341)
Total interest expense presented in the Consolidated Statement of Operations in which the effects of cash flow hedges are recorded (line item “Interest expense”)	$ 26,875	$ 25,416	$ 20,209

Fair Value Measurements - Asse

Fair Value Measurements - Assets Measures at Fair Value on a Recurring Basis by Level within Fair Value Hierarchy (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Interest Rate Swap Asset	$ 766	$ 8,770
Interest Rate Swap Liability	(8,488)	(2,351)
Total Fair Value
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Interest Rate Swap Asset	766	8,770
Interest Rate Swap Liability	(8,488)	(2,351)
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	766	8,770
Interest Rate Swap Liability	(8,488)	(2,351)
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 - Carr

Fair Value Measurements - Carrying Value and Estimated Fair Value of Notes Payable (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable	$ 857,842	$ 757,371
Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total Fair Value	882,813	759,491
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	882,813	759,491
Carrying Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable	$ 857,842	$ 757,371

Related Party Transactions - A

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Mar. 07, 2018
Chief Executive Officer
Related Party Transaction [Line Items]
Revenue from management and leasing services	$ 0.4	$ 0.4	$ 0.4
6110-6114 Cahuenga Avenue, LLC \| Immediate Family Member of Management or Principal Owner
Related Party Transaction [Line Items]
Contract sales price				$ 4.5

Commitments and Contingencies

Commitments and Contingencies - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Feb. 25, 2014
Commitments And Contingencies [Line Items]
Estimated remedian costs			$ 1,300,000
Deposits paid			1,400,000
Holdback escrow seller funded			1,300,000
Holdback escrow buyer funded			100,000
Maximum seller liability remediation costs			$ 1,300,000
Commitments for tenant improvement and construction work	$ 31,900,000
Cash, FDIC insured amount	250,000
Accounts Payable and Accrued Expenses
Commitments And Contingencies [Line Items]
Contingent liability	(600,000)	$ (1,000,000)
Other Assets
Commitments And Contingencies [Line Items]
Indemnification asset	$ 600,000	$ 1,000,000
Total Rental Revenues \| Customer Concentration Risk
Commitments And Contingencies [Line Items]
Concentration risk, percentage	5.00%

Dispositions - Summary of the P

Dispositions - Summary of the Properties Sold (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)ft²	Dec. 31, 2018USD ($)ft²	Dec. 31, 2017USD ($)ft²
Property Dispositions [Line Items]
Rentable Square Feet \| ft²	5,365,929	3,062,487
Gain Recorded	$ 16,297	$ 17,222	$ 29,573
Disposal Group, Disposed of by Sale, Not Discontinued Operations
Property Dispositions [Line Items]
Rentable Square Feet \| ft²	182,362	278,435	775,677
Contract sales price	$ 33,599	$ 48,019	$ 98,656
Gain Recorded	$ 16,297	$ 17,222	$ 29,573
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
Gain Recorded	$ 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
Gain Recorded	$ 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
Gain Recorded	$ 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
Gain Recorded	$ 4,359
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| 8900-8980 Benson Avenue and 5637 Arrow Highway
Property Dispositions [Line Items]
Date of Disposition		Jan. 2, 2018
Rentable Square Feet \| ft²		88,016
Contract sales price		$ 11,440
Gain Recorded		$ 4,029
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| 700 Allen Avenue and 1851 Flower Street
Property Dispositions [Line Items]
Date of Disposition		Jan. 17, 2018
Rentable Square Feet \| ft²		25,168
Contract sales price		$ 10,900
Gain Recorded		$ 4,753
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| 200-220 South Grand Avenue
Property Dispositions [Line Items]
Date of Disposition		Mar. 7, 2018
Rentable Square Feet \| ft²		27,200
Contract sales price		$ 4,515
Gain Recorded		$ 1,201
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| 6770 Central Avenue—Building B
Property Dispositions [Line Items]
Date of Disposition		Apr. 9, 2018
Rentable Square Feet \| ft²		11,808
Contract sales price		$ 1,676
Gain Recorded		$ 1,113
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| 1910-1920 Archibald Avenue
Property Dispositions [Line Items]
Date of Disposition		May 9, 2018
Rentable Square Feet \| ft²		78,243
Contract sales price		$ 9,050
Gain Recorded		$ 495
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| 311 East 157th Street
Property Dispositions [Line Items]
Date of Disposition		Dec. 12, 2018
Rentable Square Feet \| ft²		12,000
Contract sales price		$ 3,000
Gain Recorded		$ 1,578
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| 329 East 157th Street
Property Dispositions [Line Items]
Date of Disposition		Dec. 20, 2018
Rentable Square Feet \| ft²		12,000
Contract sales price		$ 2,675
Gain Recorded		$ 1,597
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| 319 East 157th Street
Property Dispositions [Line Items]
Date of Disposition		Dec. 27, 2018
Rentable Square Feet \| ft²		24,000
Contract sales price		$ 4,763
Gain Recorded		$ 2,456
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| 9375 Archibald Avenue
Property Dispositions [Line Items]
Date of Disposition			Mar. 31, 2017
Rentable Square Feet \| ft²			62,677
Contract sales price			$ 6,875
Gain Recorded			$ 2,668
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| 2535 Midway Drive
Property Dispositions [Line Items]
Date of Disposition			May 17, 2017
Rentable Square Feet \| ft²			373,744
Contract sales price			$ 40,050
Gain Recorded			$ 16,026
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| 2811 Harbor Boulevard
Property Dispositions [Line Items]
Date of Disposition			Jun. 28, 2017
Rentable Square Feet \| ft²			126,796
Contract sales price			$ 18,700
Gain Recorded			$ 594
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| 12345 First American Way
Property Dispositions [Line Items]
Date of Disposition			Oct. 31, 2017
Rentable Square Feet \| ft²			40,022
Contract sales price			$ 7,600
Gain Recorded			$ 4,146
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| 9401 De Soto Avenue
Property Dispositions [Line Items]
Date of Disposition			Nov. 2, 2017
Rentable Square Feet \| ft²			150,831
Contract sales price			$ 23,000
Gain Recorded			$ 4,748
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| 77-700 Enfield Lane
Property Dispositions [Line Items]
Date of Disposition			Nov. 29, 2017
Rentable Square Feet \| ft²			21,607
Contract sales price			$ 2,431
Gain Recorded			$ 1,391

Stockholder's Equity - Additio

Stockholder's Equity - Additional Information (Detail)	Sep. 20, 2019USD ($)$ / sharesshares	Jun. 13, 2019USD ($)	Apr. 10, 2019USD ($)$ / sharesshares	Feb. 19, 2019USD ($)	Jun. 13, 2018USD ($)	Nov. 13, 2017USD ($)$ / sharesshares	Sep. 21, 2017USD ($)	Jun. 12, 2017USD ($)	Apr. 15, 2016USD ($)$ / sharesshares	Apr. 17, 2015USD ($)	Dec. 31, 2019USD ($)ft²property$ / sharesshares	Dec. 31, 2018USD ($)ft²$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares	Dec. 31, 2016shares	Apr. 11, 2016USD ($)ft²property
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Conversion of common units to common stock											$ 0	$ 0	$ 0
Number of real estate properties \| property											213
Rentable square feet \| ft²											5,365,929	3,062,487
Contractual Purchase Price (in thousands)											$ 970,697,000	$ 492,850,000
Issuance of 4.43937% cumulative redeemable convertible preferred units											$ 27,359,000
LTIP Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non-vested shares (shares) \| shares											298,412	327,048	293,485	241,691
Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of stock (shares) \| shares												18,177,242
Conversion of common units to common stock (shares) \| shares											96,060	67,175	61,256
Conversion of common units to common stock											$ 1,000	$ 1,000
Noncontrolling Interests
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Conversion of common units to common stock											(665,000)	(624,000)	$ (618,000)
Issuance of 4.43937% cumulative redeemable convertible preferred units											27,359,000
Parent
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Conversion of common units to common stock											$ 665,000	624,000	618,000
Operating Partnership \| Noncontrolling Interests
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of operating partnership units (shares) \| shares											1,832,226
Noncontrolling interest percentage ownership in Operating Partnership											2.30%
Operating Partnership \| Noncontrolling Interests \| LTIP Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non-vested shares (shares) \| shares											891,547
At The Market Equity Offering Program, $550 Million
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum aggregate offering amount		$ 550,000,000
Common stock, shares available under ATM											$ 350,700,000
At The Market Equity Offering Program, $450 Million
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum aggregate offering amount				$ 450,000,000
At-The-Market Equity Offering Program $400M
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum aggregate offering amount					$ 400,000,000
At-The-Market Equity Offering Program $300M
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Proceeds from issuance of common stock							$ 300,000,000
At-The-Market Equity Offering Program $150M
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum aggregate offering amount								$ 150,000,000
At The Market Equity Offering Program $125M
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum aggregate offering amount										$ 125,000,000
At The Market Equity Offering Program, $550 Million and $450 Million [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Proceeds from issuance of common stock											$ 649,300,000
Issuance of stock (shares) \| shares											16,817,930
Common stock share price (in dollars per share) \| $ / shares											$ 38.61
Proceeds from issuance of common stock, net											$ 639,600,000
At The Market Equity Offering Program, $400 And $300 Million [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Proceeds from issuance of common stock												$ 565,600,000
Issuance of stock (shares) \| shares												18,177,242
Common stock share price (in dollars per share) \| $ / shares												$ 31.12
Proceeds from issuance of common stock, net												$ 557,100,000
At The Market Equity Offering Program, $125, $150 and $300 Million
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Proceeds from issuance of common stock													$ 336,600,000
Issuance of stock (shares) \| shares													11,968,927
Common stock share price (in dollars per share) \| $ / shares													$ 28.13
Proceeds from issuance of common stock, net													$ 331,600,000
Series C Preferred Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Preferred stock issued (shares) \| shares	3,450,000
Preferred stock, interest	5.625%										5.625%
Liquidation preference (in dollars per share) \| $ / shares	$ 25
Proceeds from issuance of preferred stock and preference stock, net of offering costs	$ 83,200,000
Payments of stock issuance costs	$ 3,000,000
Shares outstanding (shares) \| shares											3,450,000
Preferred Stock, Liquidation Preference, Value											$ 86,250,000
Series B Preferred Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Preferred stock, interest						5.875%					5.875%	5.875%
Liquidation preference (in dollars per share) \| $ / shares						$ 25
Proceeds from issuance of preferred stock and preference stock, net of offering costs						$ 72,500,000
Payments of stock issuance costs						$ 2,500,000
Shares outstanding (shares) \| shares						3,000,000					3,000,000	3,000,000
Preferred Stock, Liquidation Preference, Value											$ 75,000,000	$ 75,000,000
Series A Preferred Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Preferred stock, interest											5.875%	5.875%
Liquidation preference (in dollars per share) \| $ / shares											$ 25
Shares outstanding (shares) \| shares											3,600,000	3,600,000
Preferred Stock, Liquidation Preference, Value											$ 90,000,000	$ 90,000,000
Preferred Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Liquidation preference (in dollars per share) \| $ / shares	$ 25
Common Stock \| Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of stock (shares) \| shares											16,817,930		11,968,927
12.5% Preferred Stock \| Noncontrolling Interests
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock redeemed (in shares) \| shares													125
REIT Portfolio Acquisition
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of real estate properties \| property															9
Rentable square feet \| ft²															1,500,000
Contractual Purchase Price (in thousands)															$ 191,000,000
REIT Portfolio Acquisition \| Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of voting interests acquired									100.00%
REIT Portfolio Acquisition \| 12.5% Preferred Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Preferred stock issued (shares) \| shares									700
Preferred stock, interest									12.50%
Shares outstanding (shares) \| shares									575				125
Preferred stock, redemption price per share (in dollars per share) \| $ / shares									$ 1,000
Preferred stock, redemption amount									$ 125,000
1515 15th Street
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Rentable square feet \| ft²											238,015
Contractual Purchase Price (in thousands)			$ 28,100,000								$ 28,100,000
Closing Costs for Acquisition of 1515 East 15th Street			$ 700,000
Series 1 CPOP Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Liquidation preference (in dollars per share) \| $ / shares											$ 45.50952
Preferred Stock, Liquidation Preference Premium											44.20%
Preferred Stock, Liquidation Preference, Value											$ 27,000,000
Series 1 CPOP Units \| 1515 15th Street
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Preferred stock, interest			4.43937%
Acquisition, Preferred Units, Issued \| shares			593,960
Issuance of 4.43937% cumulative redeemable convertible preferred units			$ 27,400,000
Acquisition, Equity Interests Issued, 30-day Average Closing Price of Common Stock \| $ / shares			$ 31.56
Series A Preferred Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Preferred stock, interest											5.875%

Stockholder's Equity - Summary

Stockholder's Equity - Summary of the Components of Changes in Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ 1,908,423	$ 1,365,254	$ 962,140
Other comprehensive (loss) income before reclassifications	(12,103)	649
Amounts reclassified from accumulated other comprehensive income to interest expense	(2,038)	(1,204)
Net current period other comprehensive loss	(14,141)	(555)	3,425
Less: other comprehensive loss attributable to noncontrolling interests	337	18
Other comprehensive loss attributable to common stockholders	(13,804)	(537)
Ending Balance	2,622,449	1,908,423	1,365,254
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	6,262	6,799	3,445
Net current period other comprehensive loss	(13,804)	(537)	3,354
Ending Balance	$ (7,542)	$ 6,262	$ 6,799

Stockholder's Equity - Federal

Stockholder's Equity - Federal Tax Treatment of Distributions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Common Stock
Class of Stock [Line Items]
Dividend, federal income tax treatment (in dollars per share)	$ 0.783269	$ 0.625000	$ 0.521353
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)	$ 0.783269	$ 0.623496	$ 0.498827
Dividend, federal income tax treatment	100.00%	99.76%	95.68%
Common Stock \| Return of Capital
Class of Stock [Line Items]
Dividend, federal income tax treatment (in dollars per share)	$ 0	$ 0.001504	$ 0.022526
Dividend, federal income tax treatment	0.00%	0.24%	4.32%
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)	$ 1.468752	$ 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)	$ 1.468752	$ 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	$ 1.664585
Dividend, federal income tax treatment	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	$ 1.664585
Dividend, federal income tax treatment	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
Dividend, federal income tax treatment	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
Dividend, federal income tax treatment	0.00%	0.00%
Series C Preferred Stock
Class of Stock [Line Items]
Dividend, federal income tax treatment (in dollars per share)	$ 0.394531
Dividend, federal income tax treatment	100.00%
Series C Preferred Stock \| Ordinary Income
Class of Stock [Line Items]
Dividend, federal income tax treatment (in dollars per share)	$ 0.394531
Dividend, federal income tax treatment	100.00%
Series C Preferred Stock \| Return of Capital
Class of Stock [Line Items]
Dividend, federal income tax treatment (in dollars per share)	$ 0
Dividend, federal income tax treatment	0.00%
Series C Preferred Stock \| Capital Gain
Class of Stock [Line Items]
Dividend, federal income tax treatment (in dollars per share)	$ 0
Dividend, federal income tax treatment	0.00%

Incentive Award Plan - Additio

Incentive Award Plan - Additional Information (Detail)	Dec. 28, 2019shares	Dec. 16, 2019USD ($)$ / sharesshares	Feb. 15, 2019shares	Dec. 15, 2018USD ($)shares	Dec. 14, 2018USD ($)$ / sharesshares	Feb. 21, 2018USD ($)shares	Dec. 15, 2017USD ($)shares	Dec. 31, 2019USD ($)installment$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017$ / sharesshares	Jun. 11, 2018shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost for all equity-based compensation arrangements \| $								$ 21,400,000
Weighted average remaining vesting period								27 months
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 \| $		$ 3,922,000		$ 2,090,000			$ 2,714,000
Units vested in period (shares)	195,628				307,986
Performance Units \| Executive Officers
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period (shares)		294,994		204,517			188,250
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)								179,758	190,318	122,631
Closing share price of common stock (in dollars per share) \| $ / shares								$ 26.14	$ 23.29	$ 17.48
Units vested in period (shares)								208,394	156,755	70,837
LTIP Units \| Executive Officers
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period (shares)		120,243		132,875			122,631
Grant date fair value \| $		$ 5,148,000		$ 3,853,000			$ 3,563,000
Compensation expense \| $						$ 1,200,000		$ 1,800,000	$ 1,700,000
LTIP Units \| Howard Schwimmer
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period (shares)			24,641			22,517
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)			24,641			22,517
Absolute TSR Base Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Units vested in period (shares)	74,000				115,600
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)		118,339		63,473			70,000
Performance period								3 years
Relative TSR Base Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Units vested in period (shares)	111,000				173,399
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)		74,033		63,473			105,000
Performance period								3 years
FFO Base Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant date fair value \| $		$ 2,000,000			$ 2,000,000
Closing share price of common stock (in dollars per share) \| $ / shares		$ 45.74			$ 31.42
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)		85,898		63,471			0
Performance period								3 years
Distribution Equivalents
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Units vested in period (shares)	10,628				18,987
Number of units canceled (shares)	3,372				8,012
Distribution Equivalents \| Executive Officers
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period (shares)		16,724		14,100			13,250
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)								110,711	104,560	104,727
Closing share price of common stock (in dollars per share) \| $ / shares								$ 23.23	$ 19.40	$ 15.43
Units vested in period (shares)								81,277	81,826	165,900
Number of units canceled (shares)								17,287	13,031	35,959
Number of vesting installment period \| installment								4
Restricted stock \| Other Employees
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period (shares)								97,527
Grant date fair value \| $								$ 3,400,000
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								$ 34.20
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								$ 47.90
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)								2,264
Grant date fair value \| $								$ 85,000
Closing share price of common stock (in dollars per share) \| $ / shares								$ 37.54
Restricted stock \| Board of Directors Chairman [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period (shares)								1,864
Grant date fair value \| $								$ 70,000
Amended and Restated 2013 Incentive Award Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock and/or LTIP units available for issuance (shares)											1,770,000
Common stock, shares reserved for future issuance (shares)								1,267,576
Amended and Restated 2013 Incentive Award Plan \| Performance Units \| Executive Officers
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period (shares)		294,994
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, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance period	3 years
2013 Incentive Award Plan \| Performance Award, 2015
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%
First anniversary \| 2013 Incentive Award Plan \| LTIP Units \| Executive Officers
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting installments							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%
Second anniversary \| 2013 Incentive Award Plan \| LTIP Units \| Executive Officers
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting installments							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%
Third anniversary \| 2013 Incentive Award Plan \| LTIP Units \| Executive Officers
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting installments							33.33%
Absolute TSR Vesting Percentage Range Four \| Absolute TSR Base Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Absolute TSR Vesting Percentage	100.00%	100.00%		100.00%	100.00%		100.00%
Relative TSR Vesting Percentage Range Four \| Relative TSR Base Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Relative TSR Vesting Percentage	100.00%	100.00%		100.00%	100.00%		100.00%

Incentive Award Plan - LTIP Un

Incentive Award Plan - LTIP Units and Performance Units (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 28, 2019	Dec. 16, 2019	Dec. 15, 2018	Dec. 14, 2018	Dec. 15, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
LTIP Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Closing share price of common stock (in dollars per share)						$ 39.67	$ 28.43	$ 29.05
Equity instruments other than options granted in period (shares)						179,758	190,318	122,631
Performance Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant date fair value		$ 3,922	$ 2,090		$ 2,714
Performance period						3 years
Fair Value Assumptions and Methodology [Abstract]
Expected price volatility		18.00%	20.00%		18.00%
Expected price volatility, minimum		12.00%	16.00%		15.00%
Expected price volatility, maximum		100.00%	100.00%		100.00%
Expected dividend yield		1.90%	2.50%		2.40%
Risk free interest rate		1.74%	2.80%		1.96%
FFO Base Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant date fair value		$ 2,000		$ 2,000
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%
2018 Market Performance Award
Fair Value Assumptions and Methodology [Abstract]
Expected volatility rate, median for peer group companies			23.00%
Expected volatility rate, average for peer group companies			27.10%
2017 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					25.30%
Executive Officers \| LTIP Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Discount for post-vesting restrictions and book-up events		6.40%	7.70%		5.00%
Grant date fair value		$ 5,148	$ 3,853		$ 3,563
Equity instruments other than options granted in period (shares)		120,243	132,875		122,631
Executive Officers \| Performance Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period (shares)		294,994	204,517		188,250
Performance period		3 years	3 years		3 years
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)		118,339	63,473		70,000
Performance period						3 years
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)		74,033	63,473		105,000
Performance period						3 years
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)		85,898	63,471		0
Performance period						3 years
Executive Officers \| Distribution Equivalents
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period (shares)		16,724	14,100		13,250
Performance period						3 years
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		25.00%	25.00%		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%		27.00%
Absolute TSR Vesting Percentage		50.00%	60.00%		60.00%
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%		36.00%
Absolute TSR Vesting Percentage	100.00%	100.00%	100.00%	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		35.00%	35.00%		35.00%
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		35.00%	35.00%		35.00%
Relative TSR Vesting Percentage		25.00%	25.00%		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		55.00%	55.00%		55.00%
Relative TSR Vesting Percentage		50.00%	60.00%		60.00%
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		75.00%	75.00%		75.00%
Relative TSR Vesting Percentage	100.00%	100.00%	100.00%	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%
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%
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%
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%
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%
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		25.00%	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		50.00%	60.00%
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		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)		$ 45.74	$ 31.42		$ 30.58

Incentive Award Plan - Schedul

Incentive Award Plan - Schedule of Non-Option Activity (Detail) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
LTIP Units
Number of Unvested Shares of Non-Options
Beginning balance (shares)	327,048	293,485	241,691
Granted (shares)	179,758	190,318	122,631
Vested (shares)	(208,394)	(156,755)	(70,837)
Ending balance (shares)	298,412	327,048	293,485
Weighted-Average Grant Date Fair Value per Share
Beginning balance (in dollars per share)	$ 26.12	$ 23.10	$ 18.43
Granted (in dollars per share)	39.67	28.43	29.05
Vested (in dollars per share)	26.14	23.29	17.48
Ending balance (in dollars per share)	$ 34.26	$ 26.12	$ 23.10
Restricted stock
Number of Unvested Shares of Non-Options
Beginning balance (shares)	200,398	190,695	287,827
Granted (shares)	110,711	104,560	104,727
Forfeited (shares)	(17,287)	(13,031)	(35,959)
Vested (shares)	(81,277)	(81,826)	(165,900)
Ending balance (shares)	212,545	200,398	190,695
Weighted-Average Grant Date Fair Value per Share
Beginning balance (in dollars per share)	$ 24.17	$ 20.13	$ 15.92
Granted (in dollars per share)	34.85	27.72	23.78
Forfeited (in dollars per share)	29.71	23.51	18.74
Vested (in dollars per share)	23.23	19.40	15.43
Ending balance (in dollars per share)	$ 29.64	$ 24.17	$ 20.13
Fair value of vested shares	$ 2.9	$ 2.4	$ 4.5
Shares tendered for tax withholding requirements (shares)	24,618	21,324	57,444

Incentive Award Plan - Share-b

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, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expensed share-based compensation	$ 10,756	$ 10,147	$ 5,398
Capitalized share-based compensation	174	255	162
Total share-based compensation	$ 10,930	$ 10,402	$ 5,560

Earnings Per Share - Computati

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Numerator:
Net income	$ 24,382	$ 12,948	$ 15,954	$ 10,717	$ 15,207	$ 8,965	$ 7,819	$ 15,084	$ 64,001	$ 47,075	$ 41,700
Less: Preferred stock dividends									(11,055)	(9,694)	(5,875)
Less: Net income attributable to noncontrolling interests									(2,022)	(865)	(988)
Less: Net income attributable to participating securities									(447)	(378)	(410)
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS	$ 19,904	$ 9,746	$ 12,848	$ 7,979	$ 12,413	$ 6,307	$ 5,172	$ 12,246	$ 50,477	$ 36,138	$ 34,427
Denominator:
Weighted average shares of common stock outstanding - basic and diluted (in shares)									106,407,283	86,824,235	71,198,862
Effect of dilutive securities - performance units (in shares)									391,765	511,514	399,792
Weighted average shares of common stock outstanding - diluted (in shares)									106,799,048	87,335,749	71,598,654
Net income attributable to common stockholders
Earnings per share- Basic (in dollars per share)	$ 0.18	$ 0.09	$ 0.12	$ 0.08	$ 0.13	$ 0.07	$ 0.06	$ 0.16	$ 0.47	$ 0.42	$ 0.48
Earnings per share- Diluted (in dollars per share)	$ 0.18	$ 0.09	$ 0.12	$ 0.08	$ 0.13	$ 0.07	$ 0.06	$ 0.15	$ 0.47	$ 0.41	$ 0.48
Performance Units
Net income attributable to common stockholders
Performance period									3 years

Quarterly Information (unaudi_3

Quarterly Information (unaudited) - Schedule of Quarterly Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Total revenues	$ 74,399	$ 68,061	$ 64,390	$ 60,363	$ 57,008	$ 55,194	$ 51,756	$ 48,536	$ 267,213	$ 212,494	$ 161,355
Net income	24,382	12,948	15,954	10,717	15,207	8,965	7,819	15,084	64,001	47,075	41,700
Net income attributable to common stockholders	$ 19,904	$ 9,746	$ 12,848	$ 7,979	$ 12,413	$ 6,307	$ 5,172	$ 12,246	$ 50,477	$ 36,138	$ 34,427
Net income attributable to common stockholders per share - basic (in dollars per share)	$ 0.18	$ 0.09	$ 0.12	$ 0.08	$ 0.13	$ 0.07	$ 0.06	$ 0.16	$ 0.47	$ 0.42	$ 0.48
Net income attributable to common stockholders per share - diluted (in dollars per share)	$ 0.18	$ 0.09	$ 0.12	$ 0.08	$ 0.13	$ 0.07	$ 0.06	$ 0.15	$ 0.47	$ 0.41	$ 0.48

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail)	Feb. 13, 2020USD ($)extension	Feb. 10, 2020$ / shares	Sep. 20, 2019	Nov. 13, 2017	Dec. 31, 2019USD ($)ft²building$ / shares	Dec. 31, 2018USD ($)ft²building$ / shares	Dec. 31, 2017$ / shares
Subsequent Event [Line Items]
Contractual Purchase Price (in thousands) \| $					$ 970,697,000	$ 492,850,000
Number of buildings \| building					57	35
Rentable square feet \| ft²					5,365,929	3,062,487
Common stock dividends declared (in dollars per share)					$ 0.74	$ 0.64	$ 0.58
Common Stock \| Subsequent Event
Subsequent Event [Line Items]
Common stock dividends declared (in dollars per share)		$ 0.215
Operating Partnership Units \| Subsequent Event
Subsequent Event [Line Items]
Quarterly cash distribution (in dollars per share)		0.215
Series A Preferred Stock
Subsequent Event [Line Items]
Preferred stock dividends declared (in dollars per share)					$ 1.468752	$ 1.468752	$ 1.468752
Preferred stock, interest					5.875%	5.875%
Series A Preferred Stock \| Subsequent Event
Subsequent Event [Line Items]
Preferred stock dividends declared (in dollars per share)		0.367188
Series B Preferred Stock
Subsequent Event [Line Items]
Preferred stock dividends declared (in dollars per share)					$ 1.468752	$ 1.664585
Preferred stock, interest				5.875%	5.875%	5.875%
Series B Preferred Stock \| Subsequent Event
Subsequent Event [Line Items]
Preferred stock dividends declared (in dollars per share)		0.367188
Series C Preferred Stock
Subsequent Event [Line Items]
Preferred stock dividends declared (in dollars per share)					$ 0.394531
Preferred stock, interest			5.625%		5.625%
Series C Preferred Stock \| Subsequent Event
Subsequent Event [Line Items]
Preferred stock dividends declared (in dollars per share)		0.351563
Series 1 CPOP Units \| Series 1 CPOP Units \| Subsequent Event
Subsequent Event [Line Items]
Quarterly cash distribution (in dollars per share)		$ 0.505085
Line of Credit \| Unsecured Credit Facility \| $600 million, senior unsecured credit facility \| Subsequent Event
Subsequent Event [Line Items]
Maximum borrowing capacity \| $	$ 600,000,000
Contingent additional borrowings \| $	900,000,000
Line of Credit \| Revolving Credit Facility \| $500 million, Amended Revolver \| Subsequent Event
Subsequent Event [Line Items]
Maximum borrowing capacity \| $	$ 500,000,000
Number of extensions \| extension	2
Extension duration period	6 months
Line of Credit \| Term Loan \| $100 million, Amended Term Loan Facility \| Subsequent Event
Subsequent Event [Line Items]
Maximum borrowing capacity \| $	$ 100,000,000
Federal Funds Rate \| $500 million, Amended Revolver \| Subsequent Event
Subsequent Event [Line Items]
Basis spread on variable rate	0.50%
Eurodollar \| $500 million, Amended Revolver \| Subsequent Event
Subsequent Event [Line Items]
Basis spread on variable rate	1.00%
LIBOR \| Revolving Credit Facility
Subsequent Event [Line Items]
Basis spread on variable rate					1.10%
Minimum \| $500 million, Amended Revolver \| Subsequent Event
Subsequent Event [Line Items]
Commitment fee percentage investment grade rating pricing structure	0.125%
Minimum \| Revolving Credit Facility
Subsequent Event [Line Items]
Commitment fee percentage					0.15%
Minimum \| Revolving Credit Facility \| Subsequent Event
Subsequent Event [Line Items]
Commitment fee percentage	0.15%
Minimum \| LIBOR \| $500 million, Amended Revolver \| Subsequent Event
Subsequent Event [Line Items]
Basis spread on variable rate	1.05%
Basis spread on variable rate investment grade rating pricing structure	0.725%
Minimum \| LIBOR \| $100 million, Amended Term Loan Facility \| Subsequent Event
Subsequent Event [Line Items]
Basis spread on variable rate	1.20%
Basis spread on variable rate investment grade rating pricing structure	0.85%
Minimum \| LIBOR \| Revolving Credit Facility
Subsequent Event [Line Items]
Basis spread on variable rate					1.10%
Minimum \| Base Rate \| $500 million, Amended Revolver \| Subsequent Event
Subsequent Event [Line Items]
Basis spread on variable rate	0.05%
Basis spread on variable rate investment grade rating pricing structure	0.00%
Minimum \| Base Rate \| $100 million, Amended Term Loan Facility \| Subsequent Event
Subsequent Event [Line Items]
Basis spread on variable rate	0.20%
Basis spread on variable rate investment grade rating pricing structure	0.00%
Maximum \| $500 million, Amended Revolver \| Subsequent Event
Subsequent Event [Line Items]
Commitment fee percentage investment grade rating pricing structure	0.30%
Maximum \| Revolving Credit Facility
Subsequent Event [Line Items]
Commitment fee percentage					0.30%
Maximum \| Revolving Credit Facility \| Subsequent Event
Subsequent Event [Line Items]
Commitment fee percentage	0.30%
Maximum \| LIBOR \| $500 million, Amended Revolver \| Subsequent Event
Subsequent Event [Line Items]
Basis spread on variable rate	1.50%
Basis spread on variable rate investment grade rating pricing structure	1.40%
Maximum \| LIBOR \| $100 million, Amended Term Loan Facility \| Subsequent Event
Subsequent Event [Line Items]
Basis spread on variable rate	1.70%
Basis spread on variable rate investment grade rating pricing structure	1.65%
Maximum \| LIBOR \| Revolving Credit Facility
Subsequent Event [Line Items]
Basis spread on variable rate					1.50%
Maximum \| Base Rate \| $500 million, Amended Revolver \| Subsequent Event
Subsequent Event [Line Items]
Basis spread on variable rate	0.50%
Basis spread on variable rate investment grade rating pricing structure	0.45%
Maximum \| Base Rate \| $100 million, Amended Term Loan Facility \| Subsequent Event
Subsequent Event [Line Items]
Basis spread on variable rate	0.70%
Basis spread on variable rate investment grade rating pricing structure	0.65%

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Real Estate And Accumulated Depreciation [Line Items]
Encumbrances	$ 2,338
Land, Initial Cost	1,931,714
Buildings and Improvements, Initial Cost	1,514,246
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	262,327
Land, Gross Amounts	1,927,098
Buildings and Improvements, Gross Amounts	1,771,292
Total, Gross	3,698,390
Accumulated Depreciation	$ (296,777)	$ (228,742)	$ (173,541)	$ (135,140)
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	9,869
Land, Gross Amounts	3,875
Buildings and Improvements, Gross Amounts	12,276
Total, Gross	16,151
Accumulated Depreciation	$ (6,855)
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	8,709
Land, Gross Amounts	4,150
Buildings and Improvements, Gross Amounts	11,759
Total, Gross	15,909
Accumulated Depreciation	$ (6,438)
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	921
Land, Gross Amounts	2,317
Buildings and Improvements, Gross Amounts	3,455
Total, Gross	5,772
Accumulated Depreciation	$ (2,262)
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	4,178
Land, Gross Amounts	868
Buildings and Improvements, Gross Amounts	4,178
Total, Gross	5,046
Accumulated Depreciation	$ (1,803)
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	3,002
Land, Gross Amounts	2,539
Buildings and Improvements, Gross Amounts	5,022
Total, Gross	7,561
Accumulated Depreciation	$ (2,806)
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	1,188
Land, Gross Amounts	6,817
Buildings and Improvements, Gross Amounts	7,277
Total, Gross	14,094
Accumulated Depreciation	$ (4,096)
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	6,481
Land, Gross Amounts	2,525
Buildings and Improvements, Gross Amounts	9,861
Total, Gross	12,386
Accumulated Depreciation	$ (4,331)
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	3,723
Land, Gross Amounts	2,666
Buildings and Improvements, Gross Amounts	7,066
Total, Gross	9,732
Accumulated Depreciation	$ (3,455)
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	2,312
Land, Gross Amounts	2,346
Buildings and Improvements, Gross Amounts	6,834
Total, Gross	9,180
Accumulated Depreciation	$ (3,663)
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	3,133
Land, Gross Amounts	4,711
Buildings and Improvements, Gross Amounts	6,332
Total, Gross	11,043
Accumulated Depreciation	$ (1,380)
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	1,955
Land, Gross Amounts	1,784
Buildings and Improvements, Gross Amounts	4,929
Total, Gross	6,713
Accumulated Depreciation	$ (2,610)
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	7,022
Land, Gross Amounts	3,740
Buildings and Improvements, Gross Amounts	7,282
Total, Gross	11,022
Accumulated Depreciation	$ (2,395)
Year Build / Year Renovated	1982 / 2009
Year Acquired	2006
28159 Avenue Stanford
Real Estate And Accumulated Depreciation [Line Items]
Location	Valencia, CA
Land, Initial Cost	$ 1,849
Buildings and Improvements, Initial Cost	6,776
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	4,933
Land, Gross Amounts	1,849
Buildings and Improvements, Gross Amounts	11,709
Total, Gross	13,558
Accumulated Depreciation	$ (5,456)
Year Build / Year Renovated	1987 / 2008 / 2015
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	$ (2,531)
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	4,031
Land, Gross Amounts	5,470
Buildings and Improvements, Gross Amounts	11,339
Total, Gross	16,809
Accumulated Depreciation	$ (5,878)
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	3,732
Land, Gross Amounts	5,001
Buildings and Improvements, Gross Amounts	11,390
Total, Gross	16,391
Accumulated Depreciation	$ (6,329)
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	1,157
Land, Gross Amounts	3,473
Buildings and Improvements, Gross Amounts	6,276
Total, Gross	9,749
Accumulated Depreciation	$ (3,396)
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	2,737
Land, Gross Amounts	3,647
Buildings and Improvements, Gross Amounts	14,604
Total, Gross	18,251
Accumulated Depreciation	$ (8,160)
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	867
Land, Gross Amounts	3,013
Buildings and Improvements, Gross Amounts	3,028
Total, Gross	6,041
Accumulated Depreciation	$ (824)
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	5,327
Land, Gross Amounts	6,304
Buildings and Improvements, Gross Amounts	8,323
Total, Gross	14,627
Accumulated Depreciation	$ (4,249)
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	1,705
Land, Gross Amounts	7,015
Buildings and Improvements, Gross Amounts	8,783
Total, Gross	15,798
Accumulated Depreciation	$ (3,902)
Year Build / Year Renovated	1961, 1983 / 2008-2010
Year Acquired	2007
89-91 N. San Gabriel Blvd., 2670-2674 Walnut Ave., 2675 Nina St.
Real Estate And Accumulated Depreciation [Line Items]
Location	Pasadena, CA
Land, Initial Cost	$ 1,759
Buildings and Improvements, Initial Cost	2,834
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	2,028
Land, Gross Amounts	1,759
Buildings and Improvements, Gross Amounts	4,862
Total, Gross	6,621
Accumulated Depreciation	$ (1,917)
Year Build / Year Renovated	1947, 1985 / 2009
Year Acquired	2008
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	226
Land, Gross Amounts	6,974
Buildings and Improvements, Gross Amounts	3,128
Total, Gross	10,102
Accumulated Depreciation	$ (1,520)
Year Build / Year Renovated	2008
Year Acquired	2009
131 W. 33rd St.
Real Estate And Accumulated Depreciation [Line Items]
Location	National City, CA
Land, Initial Cost	$ 2,390
Buildings and Improvements, Initial Cost	5,029
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	535
Land, Gross Amounts	2,390
Buildings and Improvements, Gross Amounts	5,564
Total, Gross	7,954
Accumulated Depreciation	$ (2,839)
Year Build / Year Renovated	1969 / 2008
Year Acquired	2006
5803 Newton Dr.
Real Estate And Accumulated Depreciation [Line Items]
Location	Carlsbad, CA
Land, Initial Cost	$ 3,152
Buildings and Improvements, Initial Cost	7,155
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,709
Land, Gross Amounts	1,692
Buildings and Improvements, Gross Amounts	5,744
Total, Gross	7,436
Accumulated Depreciation	$ (3,150)
Year Build / Year Renovated	1997-1999 / 2009
Year Acquired	2007
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	$ (2,226)
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	1,016
Land, Gross Amounts	3,028
Buildings and Improvements, Gross Amounts	2,074
Total, Gross	5,102
Accumulated Depreciation	$ (993)
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	$ 2,659
Buildings and Improvements, Initial Cost	911
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,104
Land, Gross Amounts	1,153
Buildings and Improvements, Gross Amounts	1,595
Total, Gross	2,748
Accumulated Depreciation	$ (823)
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	536
Land, Gross Amounts	3,092
Buildings and Improvements, Gross Amounts	2,436
Total, Gross	5,528
Accumulated Depreciation	$ (687)
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	1,406
Land, Gross Amounts	4,298
Buildings and Improvements, Gross Amounts	6,481
Total, Gross	10,779
Accumulated Depreciation	$ (1,853)
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	15
Land, Gross Amounts	3,481
Buildings and Improvements, Gross Amounts	3,545
Total, Gross	7,026
Accumulated Depreciation	$ (1,225)
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	5
Land, Gross Amounts	4,179
Buildings and Improvements, Gross Amounts	5,363
Total, Gross	9,542
Accumulated Depreciation	$ (1,356)
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	145
Land, Gross Amounts	1,582
Buildings and Improvements, Gross Amounts	2,001
Total, Gross	3,583
Accumulated Depreciation	$ (493)
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	865
Land, Gross Amounts	3,158
Buildings and Improvements, Gross Amounts	5,725
Total, Gross	8,883
Accumulated Depreciation	$ (1,609)
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	388
Land, Gross Amounts	3,608
Buildings and Improvements, Gross Amounts	3,087
Total, Gross	6,695
Accumulated Depreciation	$ (913)
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	588
Land, Gross Amounts	3,253
Buildings and Improvements, Gross Amounts	2,193
Total, Gross	5,446
Accumulated Depreciation	$ (641)
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	577
Land, Gross Amounts	3,720
Buildings and Improvements, Gross Amounts	3,218
Total, Gross	6,938
Accumulated Depreciation	$ (945)
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	184
Land, Gross Amounts	1,396
Buildings and Improvements, Gross Amounts	1,109
Total, Gross	2,505
Accumulated Depreciation	$ (274)
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	$ (1,540)
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	$ (422)
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	919
Land, Gross Amounts	3,082
Buildings and Improvements, Gross Amounts	7,149
Total, Gross	10,231
Accumulated Depreciation	$ (1,819)
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	3,244
Land, Gross Amounts	17,978
Buildings and Improvements, Gross Amounts	42,715
Total, Gross	60,693
Accumulated Depreciation	$ (10,819)
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	3,904
Land, Gross Amounts	3,043
Buildings and Improvements, Gross Amounts	6,454
Total, Gross	9,497
Accumulated Depreciation	$ (1,734)
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	439
Land, Gross Amounts	1,389
Buildings and Improvements, Gross Amounts	4,311
Total, Gross	5,700
Accumulated Depreciation	$ (1,130)
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	1,089
Land, Gross Amounts	2,497
Buildings and Improvements, Gross Amounts	6,583
Total, Gross	9,080
Accumulated Depreciation	$ (1,752)
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	$ 2,338
Land, Initial Cost	4,582
Buildings and Improvements, Initial Cost	5,135
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,798
Land, Gross Amounts	4,582
Buildings and Improvements, Gross Amounts	6,933
Total, Gross	11,515
Accumulated Depreciation	$ (1,767)
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	39
Land, Gross Amounts	8,001
Buildings and Improvements, Gross Amounts	17,773
Total, Gross	25,774
Accumulated Depreciation	$ (4,023)
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	$ (1,832)
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	765
Land, Gross Amounts	1,517
Buildings and Improvements, Gross Amounts	2,598
Total, Gross	4,115
Accumulated Depreciation	$ (697)
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	2,165
Land, Gross Amounts	3,117
Buildings and Improvements, Gross Amounts	4,059
Total, Gross	7,176
Accumulated Depreciation	$ (662)
Year Build / Year Renovated	1972 / 2015, 2019
Year Acquired	2014
14723-14825 Oxnard St.
Real Estate And Accumulated Depreciation [Line Items]
Location	Van Nuys, CA
Land, Initial Cost	$ 4,458
Buildings and Improvements, Initial Cost	3,948
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,718
Land, Gross Amounts	4,458
Buildings and Improvements, Gross Amounts	5,666
Total, Gross	10,124
Accumulated Depreciation	$ (1,285)
Year Build / Year Renovated	1964 / 1968
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	638
Land, Gross Amounts	2,260
Buildings and Improvements, Gross Amounts	6,681
Total, Gross	8,941
Accumulated Depreciation	$ (1,772)
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	4,217
Land, Gross Amounts	2,428
Buildings and Improvements, Gross Amounts	8,488
Total, Gross	10,916
Accumulated Depreciation	$ (1,382)
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	$ (607)
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	328
Land, Gross Amounts	7,935
Buildings and Improvements, Gross Amounts	10,853
Total, Gross	18,788
Accumulated Depreciation	$ (2,386)
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	$ (2,036)
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	$ (1,034)
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	4,390
Land, Gross Amounts	9,305
Buildings and Improvements, Gross Amounts	6,505
Total, Gross	15,810
Accumulated Depreciation	$ (1,192)
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	224
Land, Gross Amounts	3,725
Buildings and Improvements, Gross Amounts	6,369
Total, Gross	10,094
Accumulated Depreciation	$ (1,543)
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	(45)
Land, Gross Amounts	1,863
Buildings and Improvements, Gross Amounts	3,166
Total, Gross	5,029
Accumulated Depreciation	$ (696)
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	87
Land, Gross Amounts	2,733
Buildings and Improvements, Gross Amounts	5,128
Total, Gross	7,861
Accumulated Depreciation	$ (1,172)
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	951
Land, Gross Amounts	4,311
Buildings and Improvements, Gross Amounts	7,077
Total, Gross	11,388
Accumulated Depreciation	$ (1,514)
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	147
Land, Gross Amounts	2,413
Buildings and Improvements, Gross Amounts	3,598
Total, Gross	6,011
Accumulated Depreciation	$ (788)
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	346
Land, Gross Amounts	4,423
Buildings and Improvements, Gross Amounts	7,145
Total, Gross	11,568
Accumulated Depreciation	$ (1,859)
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	816
Land, Gross Amounts	5,125
Buildings and Improvements, Gross Amounts	5,825
Total, Gross	10,950
Accumulated Depreciation	$ (1,418)
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	779
Land, Gross Amounts	5,240
Buildings and Improvements, Gross Amounts	5,844
Total, Gross	11,084
Accumulated Depreciation	$ (1,612)
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	$ (1,742)
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	8,436
Land, Gross Amounts	7,638
Buildings and Improvements, Gross Amounts	13,382
Total, Gross	21,020
Accumulated Depreciation	$ (1,656)
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	2,403
Land, Gross Amounts	3,761
Buildings and Improvements, Gross Amounts	9,132
Total, Gross	12,893
Accumulated Depreciation	$ (1,642)
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	1,951
Land, Gross Amounts	7,230
Buildings and Improvements, Gross Amounts	11,009
Total, Gross	18,239
Accumulated Depreciation	$ (2,578)
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	756
Land, Gross Amounts	4,773
Buildings and Improvements, Gross Amounts	6,726
Total, Gross	11,499
Accumulated Depreciation	$ (1,644)
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	$ (788)
Year Build / Year Renovated	1991 / 2015
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	1
Land, Gross Amounts	9,224
Buildings and Improvements, Gross Amounts	19,347
Total, Gross	28,571
Accumulated Depreciation	$ (3,986)
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	2,071
Land, Gross Amounts	8,495
Buildings and Improvements, Gross Amounts	18,019
Total, Gross	26,514
Accumulated Depreciation	$ (3,416)
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	1,342
Land, Gross Amounts	1,723
Buildings and Improvements, Gross Amounts	6,109
Total, Gross	7,832
Accumulated Depreciation	$ (1,005)
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	554
Land, Gross Amounts	3,505
Buildings and Improvements, Gross Amounts	5,791
Total, Gross	9,296
Accumulated Depreciation	$ (1,296)
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	598
Land, Gross Amounts	2,812
Buildings and Improvements, Gross Amounts	5,337
Total, Gross	8,149
Accumulated Depreciation	$ (1,092)
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	3,065
Land, Gross Amounts	2,064
Buildings and Improvements, Gross Amounts	6,740
Total, Gross	8,804
Accumulated Depreciation	$ (962)
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	847
Land, Gross Amounts	2,616
Buildings and Improvements, Gross Amounts	9,158
Total, Gross	11,774
Accumulated Depreciation	$ (2,039)
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	70
Land, Gross Amounts	842
Buildings and Improvements, Gross Amounts	2,279
Total, Gross	3,121
Accumulated Depreciation	$ (587)
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	501
Land, Gross Amounts	1,128
Buildings and Improvements, Gross Amounts	3,227
Total, Gross	4,355
Accumulated Depreciation	$ (821)
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	345
Land, Gross Amounts	3,487
Buildings and Improvements, Gross Amounts	9,934
Total, Gross	13,421
Accumulated Depreciation	$ (2,190)
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	327
Land, Gross Amounts	3,478
Buildings and Improvements, Gross Amounts	8,161
Total, Gross	11,639
Accumulated Depreciation	$ (1,689)
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	1,766
Land, Gross Amounts	10,805
Buildings and Improvements, Gross Amounts	20,192
Total, Gross	30,997
Accumulated Depreciation	$ (4,455)
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	$ (1,316)
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	1,640
Land, Gross Amounts	9,427
Buildings and Improvements, Gross Amounts	9,743
Total, Gross	19,170
Accumulated Depreciation	$ (2,070)
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	238
Land, Gross Amounts	3,326
Buildings and Improvements, Gross Amounts	4,258
Total, Gross	7,584
Accumulated Depreciation	$ (998)
Year Build / Year Renovated	1985
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	837
Land, Gross Amounts	8,508
Buildings and Improvements, Gross Amounts	1,971
Total, Gross	10,479
Accumulated Depreciation	$ (400)
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	190
Land, Gross Amounts	2,979
Buildings and Improvements, Gross Amounts	3,394
Total, Gross	6,373
Accumulated Depreciation	$ (687)
Year Build / Year Renovated	1979
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	$ (1,889)
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	$ (640)
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	257
Land, Gross Amounts	3,502
Buildings and Improvements, Gross Amounts	9,536
Total, Gross	13,038
Accumulated Depreciation	$ (2,243)
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	477
Land, Gross Amounts	6,902
Buildings and Improvements, Gross Amounts	9,426
Total, Gross	16,328
Accumulated Depreciation	$ (2,486)
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	84
Land, Gross Amounts	3,446
Buildings and Improvements, Gross Amounts	1,325
Total, Gross	4,771
Accumulated Depreciation	$ (372)
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	892
Land, Gross Amounts	3,310
Buildings and Improvements, Gross Amounts	6,698
Total, Gross	10,008
Accumulated Depreciation	$ (1,618)
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	124
Land, Gross Amounts	3,357
Buildings and Improvements, Gross Amounts	3,651
Total, Gross	7,008
Accumulated Depreciation	$ (718)
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	581
Land, Gross Amounts	4,590
Buildings and Improvements, Gross Amounts	8,353
Total, Gross	12,943
Accumulated Depreciation	$ (1,453)
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	820
Land, Gross Amounts	3,503
Buildings and Improvements, Gross Amounts	4,024
Total, Gross	7,527
Accumulated Depreciation	$ (939)
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	$ (783)
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	1,003
Land, Gross Amounts	5,479
Buildings and Improvements, Gross Amounts	8,039
Total, Gross	13,518
Accumulated Depreciation	$ (1,781)
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	3,580
Land, Gross Amounts	10,038
Buildings and Improvements, Gross Amounts	7,960
Total, Gross	17,998
Accumulated Depreciation	$ (1,703)
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	1,159
Land, Gross Amounts	3,481
Buildings and Improvements, Gross Amounts	1,935
Total, Gross	5,416
Accumulated Depreciation	$ (305)
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	$ (1,519)
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	774
Land, Gross Amounts	4,038
Buildings and Improvements, Gross Amounts	4,829
Total, Gross	8,867
Accumulated Depreciation	$ (839)
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	68
Land, Gross Amounts	5,150
Buildings and Improvements, Gross Amounts	9,734
Total, Gross	14,884
Accumulated Depreciation	$ (1,598)
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	128
Land, Gross Amounts	12,576
Buildings and Improvements, Gross Amounts	8,945
Total, Gross	21,521
Accumulated Depreciation	$ (2,030)
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	315
Land, Gross Amounts	18,803
Buildings and Improvements, Gross Amounts	6,344
Total, Gross	25,147
Accumulated Depreciation	$ (1,114)
Year Build / Year Renovated	1976
Year Acquired	2016
2700_2722 Fairview Street
Real Estate And Accumulated Depreciation [Line Items]
Location	Santa Ana, CA
Land, Initial Cost	$ 10,144
Buildings and Improvements, Initial Cost	5,989
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,323
Land, Gross Amounts	10,144
Buildings and Improvements, Gross Amounts	7,312
Total, Gross	17,456
Accumulated Depreciation	$ (1,082)
Year Build / Year Renovated	1964 / 1984, 2018
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	4,685
Land, Gross Amounts	15,077
Buildings and Improvements, Gross Amounts	15,834
Total, Gross	30,911
Accumulated Depreciation	$ (2,145)
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	78
Land, Gross Amounts	13,724
Buildings and Improvements, Gross Amounts	9,443
Total, Gross	23,167
Accumulated Depreciation	$ (1,623)
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	4
Land, Gross Amounts	7,855
Buildings and Improvements, Gross Amounts	12,060
Total, Gross	19,915
Accumulated Depreciation	$ (1,869)
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	$ (1,261)
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	$ (1,562)
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	1,148
Land, Gross Amounts	4,433
Buildings and Improvements, Gross Amounts	4,109
Total, Gross	8,542
Accumulated Depreciation	$ (680)
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	113
Land, Gross Amounts	3,830
Buildings and Improvements, Gross Amounts	4,000
Total, Gross	7,830
Accumulated Depreciation	$ (657)
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	13,022
Land, Gross Amounts	13,791
Buildings and Improvements, Gross Amounts	23,039
Total, Gross	36,830
Accumulated Depreciation	$ (2,248)
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	3,592
Land, Gross Amounts	26,659
Buildings and Improvements, Gross Amounts	16,265
Total, Gross	42,924
Accumulated Depreciation	$ (2,816)
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	16,917
Land, Gross Amounts	13,463
Buildings and Improvements, Gross Amounts	18,597
Total, Gross	32,060
Accumulated Depreciation	$ (875)
Year Build / Year Renovated	1969 / 2018
Year Acquired	2016
3927 Oceanic Drive
Real Estate And Accumulated Depreciation [Line Items]
Location	Oceanside, CA
Land, Initial Cost	$ 2,667
Buildings and Improvements, Initial Cost	4,581
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	281
Land, Gross Amounts	2,667
Buildings and Improvements, Gross Amounts	4,862
Total, Gross	7,529
Accumulated Depreciation	$ (624)
Year Build / Year Renovated	2004
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	4,895
Land, Gross Amounts	7,126
Buildings and Improvements, Gross Amounts	10,623
Total, Gross	17,749
Accumulated Depreciation	$ (1,010)
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	$ (2,122)
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	681
Land, Gross Amounts	8,497
Buildings and Improvements, Gross Amounts	6,303
Total, Gross	14,800
Accumulated Depreciation	$ (1,017)
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	7,154
Land, Gross Amounts	10,620
Buildings and Improvements, Gross Amounts	13,664
Total, Gross	24,284
Accumulated Depreciation	$ (428)
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	386
Land, Gross Amounts	5,624
Buildings and Improvements, Gross Amounts	10,431
Total, Gross	16,055
Accumulated Depreciation	$ (1,504)
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	5,796
Land, Gross Amounts	50,807
Buildings and Improvements, Gross Amounts	91,861
Total, Gross	142,668
Accumulated Depreciation	$ (10,705)
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	$ (1,562)
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	$ (314)
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	293
Land, Gross Amounts	22,938
Buildings and Improvements, Gross Amounts	7,031
Total, Gross	29,969
Accumulated Depreciation	$ (950)
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	$ 12,031
Buildings and Improvements, Initial Cost	14,439
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	2,693
Land, Gross Amounts	12,031
Buildings and Improvements, Gross Amounts	17,132
Total, Gross	29,163
Accumulated Depreciation	$ (1,903)
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	942
Land, Gross Amounts	7,988
Buildings and Improvements, Gross Amounts	6,414
Total, Gross	14,402
Accumulated Depreciation	$ (606)
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	3,318
Land, Gross Amounts	121,329
Buildings and Improvements, Gross Amounts	90,094
Total, Gross	211,423
Accumulated Depreciation	$ (9,997)
Year Build / Year Renovated	1989
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	48
Land, Gross Amounts	9,405
Buildings and Improvements, Gross Amounts	9,888
Total, Gross	19,293
Accumulated Depreciation	$ (1,168)
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	$ (916)
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	0
Land, Gross Amounts	2,129
Buildings and Improvements, Gross Amounts	1,315
Total, Gross	3,444
Accumulated Depreciation	$ (159)
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	$ (79)
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	$ (59)
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	731
Land, Gross Amounts	3,255
Buildings and Improvements, Gross Amounts	1,979
Total, Gross	5,234
Accumulated Depreciation	$ (141)
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	775
Land, Gross Amounts	8,681
Buildings and Improvements, Gross Amounts	1,351
Total, Gross	10,032
Accumulated Depreciation	$ (142)
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	$ (1,267)
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	$ (668)
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	$ (558)
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	96
Land, Gross Amounts	11,691
Buildings and Improvements, Gross Amounts	8,386
Total, Gross	20,077
Accumulated Depreciation	$ (870)
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	$ (436)
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	96
Land, Gross Amounts	5,293
Buildings and Improvements, Gross Amounts	6,473
Total, Gross	11,766
Accumulated Depreciation	$ (607)
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	750
Land, Gross Amounts	10,214
Buildings and Improvements, Gross Amounts	5,877
Total, Gross	16,091
Accumulated Depreciation	$ (698)
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	123
Land, Gross Amounts	9,927
Buildings and Improvements, Gross Amounts	7,071
Total, Gross	16,998
Accumulated Depreciation	$ (607)
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	366
Land, Gross Amounts	9,476
Buildings and Improvements, Gross Amounts	11,760
Total, Gross	21,236
Accumulated Depreciation	$ (890)
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	1,200
Land, Gross Amounts	6,717
Buildings and Improvements, Gross Amounts	1,200
Total, Gross	7,917
Accumulated Depreciation	$ 0
Year Build / Year Renovated	1968
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	4
Land, Gross Amounts	4,230
Buildings and Improvements, Gross Amounts	3,317
Total, Gross	7,547
Accumulated Depreciation	$ (261)
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	1,501
Land, Gross Amounts	5,252
Buildings and Improvements, Gross Amounts	3,997
Total, Gross	9,249
Accumulated Depreciation	$ (176)
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	79
Land, Gross Amounts	6,307
Buildings and Improvements, Gross Amounts	6,652
Total, Gross	12,959
Accumulated Depreciation	$ (564)
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	8
Land, Gross Amounts	3,583
Buildings and Improvements, Gross Amounts	2,438
Total, Gross	6,021
Accumulated Depreciation	$ (182)
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	220
Land, Gross Amounts	90,568
Buildings and Improvements, Gross Amounts	54,306
Total, Gross	144,874
Accumulated Depreciation	$ (4,020)
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	$ (282)
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	$ (221)
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	180
Land, Gross Amounts	7,723
Buildings and Improvements, Gross Amounts	5,829
Total, Gross	13,552
Accumulated Depreciation	$ (435)
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	27
Land, Gross Amounts	10,762
Buildings and Improvements, Gross Amounts	1,594
Total, Gross	12,356
Accumulated Depreciation	$ (138)
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	124
Land, Gross Amounts	17,053
Buildings and Improvements, Gross Amounts	13,729
Total, Gross	30,782
Accumulated Depreciation	$ (897)
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	506
Land, Gross Amounts	10,114
Buildings and Improvements, Gross Amounts	13,273
Total, Gross	23,387
Accumulated Depreciation	$ (746)
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	8
Land, Gross Amounts	5,646
Buildings and Improvements, Gross Amounts	4,974
Total, Gross	10,620
Accumulated Depreciation	$ (310)
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	1,776
Land, Gross Amounts	3,094
Buildings and Improvements, Gross Amounts	8,243
Total, Gross	11,337
Accumulated Depreciation	$ 0
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	2,412
Land, Gross Amounts	10,013
Buildings and Improvements, Gross Amounts	5,691
Total, Gross	15,704
Accumulated Depreciation	$ (117)
Year Build / Year Renovated	1969
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	$ (241)
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	23
Land, Gross Amounts	10,545
Buildings and Improvements, Gross Amounts	11,882
Total, Gross	22,427
Accumulated Depreciation	$ (607)
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	201
Land, Gross Amounts	14,302
Buildings and Improvements, Gross Amounts	2,161
Total, Gross	16,463
Accumulated Depreciation	$ (200)
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	$ (228)
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	$ (90)
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	$ (150)
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	$ (173)
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	11
Land, Gross Amounts	11,414
Buildings and Improvements, Gross Amounts	2,513
Total, Gross	13,927
Accumulated Depreciation	$ (191)
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	40
Land, Gross Amounts	11,789
Buildings and Improvements, Gross Amounts	5,254
Total, Gross	17,043
Accumulated Depreciation	$ (448)
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	1
Land, Gross Amounts	12,191
Buildings and Improvements, Gross Amounts	7,490
Total, Gross	19,681
Accumulated Depreciation	$ (384)
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	$ 16,991
Buildings and Improvements, Initial Cost	2,824
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	1,189
Land, Gross Amounts	16,991
Buildings and Improvements, Gross Amounts	4,013
Total, Gross	21,004
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	1
Land, Gross Amounts	2,395
Buildings and Improvements, Gross Amounts	5,467
Total, Gross	7,862
Accumulated Depreciation	$ (203)
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	1,659
Land, Gross Amounts	38,877
Buildings and Improvements, Gross Amounts	66,380
Total, Gross	105,257
Accumulated Depreciation	$ (2,084)
Year Build / Year Renovated	2018
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	25
Land, Gross Amounts	4,273
Buildings and Improvements, Gross Amounts	1,991
Total, Gross	6,264
Accumulated Depreciation	$ (97)
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	583
Land, Gross Amounts	3,245
Buildings and Improvements, Gross Amounts	2,935
Total, Gross	6,180
Accumulated Depreciation	$ (90)
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	797
Land, Gross Amounts	23,363
Buildings and Improvements, Gross Amounts	6,005
Total, Gross	29,368
Accumulated Depreciation	$ (137)
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	3
Land, Gross Amounts	25,642
Buildings and Improvements, Gross Amounts	14,619
Total, Gross	40,261
Accumulated Depreciation	$ (500)
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	78
Land, Gross Amounts	9,084
Buildings and Improvements, Gross Amounts	8,364
Total, Gross	17,448
Accumulated Depreciation	$ (264)
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	307
Land, Gross Amounts	8,102
Buildings and Improvements, Gross Amounts	8,486
Total, Gross	16,588
Accumulated Depreciation	$ (279)
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	32
Land, Gross Amounts	2,901
Buildings and Improvements, Gross Amounts	4,277
Total, Gross	7,178
Accumulated Depreciation	$ (131)
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	0
Land, Gross Amounts	19,556
Buildings and Improvements, Gross Amounts	9,567
Total, Gross	29,123
Accumulated Depreciation	$ (323)
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	$ (346)
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	0
Land, Gross Amounts	12,367
Buildings and Improvements, Gross Amounts	4,858
Total, Gross	17,225
Accumulated Depreciation	$ (170)
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	0
Land, Gross Amounts	16,407
Buildings and Improvements, Gross Amounts	9,572
Total, Gross	25,979
Accumulated Depreciation	$ (310)
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	844
Land, Gross Amounts	8,787
Buildings and Improvements, Gross Amounts	6,766
Total, Gross	15,553
Accumulated Depreciation	$ 0
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	1,976
Land, Gross Amounts	12,280
Buildings and Improvements, Gross Amounts	11,174
Total, Gross	23,454
Accumulated Depreciation	$ 0
Year Build / Year Renovated	1988
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	112
Land, Gross Amounts	11,576
Buildings and Improvements, Gross Amounts	2,377
Total, Gross	13,953
Accumulated Depreciation	$ (97)
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	115
Land, Gross Amounts	11,782
Buildings and Improvements, Gross Amounts	5,327
Total, Gross	17,109
Accumulated Depreciation	$ (145)
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	$ (36)
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	2
Land, Gross Amounts	19,075
Buildings and Improvements, Gross Amounts	8,063
Total, Gross	27,138
Accumulated Depreciation	$ (239)
Year Build / Year Renovated	1999
Year Acquired	2019
Limonite Ave. & Archibald Ave.(7)
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	3,985
Land, Gross Amounts	23,848
Buildings and Improvements, Gross Amounts	3,985
Total, Gross	27,833
Accumulated Depreciation	$ 0
Year Build / Year Renovated	N/A
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	$ (8)
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	301
Land, Gross Amounts	6,543
Buildings and Improvements, Gross Amounts	2,033
Total, Gross	8,576
Accumulated Depreciation	$ (55)
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	2
Land, Gross Amounts	7,142
Buildings and Improvements, Gross Amounts	778
Total, Gross	7,920
Accumulated Depreciation	$ (23)
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	$ (57)
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	0
Land, Gross Amounts	33,006
Buildings and Improvements, Gross Amounts	34,439
Total, Gross	67,445
Accumulated Depreciation	$ (590)
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	44
Land, Gross Amounts	9,766
Buildings and Improvements, Gross Amounts	909
Total, Gross	10,675
Accumulated Depreciation	$ (20)
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	5
Land, Gross Amounts	14,960
Buildings and Improvements, Gross Amounts	2,062
Total, Gross	17,022
Accumulated Depreciation	$ (42)
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	0
Land, Gross Amounts	42,178
Buildings and Improvements, Gross Amounts	21,987
Total, Gross	64,165
Accumulated Depreciation	$ (283)
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	33
Land, Gross Amounts	8,330
Buildings and Improvements, Gross Amounts	14,337
Total, Gross	22,667
Accumulated Depreciation	$ (184)
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	31
Land, Gross Amounts	27,809
Buildings and Improvements, Gross Amounts	11,485
Total, Gross	39,294
Accumulated Depreciation	$ (115)
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	0
Land, Gross Amounts	8,283
Buildings and Improvements, Gross Amounts	2,784
Total, Gross	11,067
Accumulated Depreciation	$ (26)
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	0
Land, Gross Amounts	6,990
Buildings and Improvements, Gross Amounts	1,350
Total, Gross	8,340
Accumulated Depreciation	$ (20)
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	5
Land, Gross Amounts	21,047
Buildings and Improvements, Gross Amounts	4,571
Total, Gross	25,618
Accumulated Depreciation	$ (37)
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	76
Land, Gross Amounts	7,364
Buildings and Improvements, Gross Amounts	76
Total, Gross	7,440
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	0
Land, Gross Amounts	10,742
Buildings and Improvements, Gross Amounts	4,380
Total, Gross	15,122
Accumulated Depreciation	$ (26)
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	6
Land, Gross Amounts	29,404
Buildings and Improvements, Gross Amounts	4,268
Total, Gross	33,672
Accumulated Depreciation	$ (29)
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	0
Land, Gross Amounts	67,623
Buildings and Improvements, Gross Amounts	18,962
Total, Gross	86,585
Accumulated Depreciation	$ (48)
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	0
Land, Gross Amounts	10,035
Buildings and Improvements, Gross Amounts	2,073
Total, Gross	12,108
Accumulated Depreciation	$ (6)
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	$ (6)
Year Build / Year Renovated	1974
Year Acquired	2019

Schedule III - Real Estate an_3

Schedule III - Real Estate and Accumulated Depreciation - Textual (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)building	Dec. 31, 2018USD ($)	Dec. 31, 2009USD ($)
Real Estate And Accumulated Depreciation [Line Items]
Federal income tax basis	$ 3,700,000
Real estate investment cumulative impairment	9,900		$ 19,600
Notes payable	857,842	$ 757,371
Contractual purchase price	970,697	$ 492,850
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	262,327
22343-22349 La Palma Avenue
Real Estate And Accumulated Depreciation [Line Items]
Unamortized debt discount (premium)	$ 100
Safari Business Center
Real Estate And Accumulated Depreciation [Line Items]
Number of buildings \| building	16
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	$ 5,796
Limonite Ave. & Archibald Ave.(7)
Real Estate And Accumulated Depreciation [Line Items]
Buildings to be constructed \| building	6
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	$ 3,985
3340 San Fernando Road
Real Estate And Accumulated Depreciation [Line Items]
Buildings and Improvements Costs Capitalized Subsequent to Acquisition	(115)
Land
Real Estate And Accumulated Depreciation [Line Items]
Real estate investment cumulative impairment	4,500
Buildings and improvements
Real Estate And Accumulated Depreciation [Line Items]
Real estate investment cumulative impairment	$ 5,400
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	20 years
6 Properties Secured \| Term Loan
Real Estate And Accumulated Depreciation [Line Items]
Notes payable	$ 58,500

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, 2019	Dec. 31, 2018	Dec. 31, 2017
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Balance, beginning of year	$ 2,716,083	$ 2,161,965	$ 1,552,129
Acquisition of investment in real estate	952,981	513,511	649,019
Construction costs and improvements	50,169	58,207	44,451
Disposition of investment in real estate(1)	(19,956)	(17,060)	(69,616)
Properties held for sale(1)	0	0	(13,296)
Write-off of fully depreciated assets	(772)	(540)	(722)
Other	(115)	0	0
Balance, End of Year	3,698,390	2,716,083	2,161,965
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance, beginning of year	(228,742)	(173,541)	(135,140)
Depreciation of investment in real estate	(72,505)	(57,312)	(45,469)
Disposition of investment in real estate(1)	3,698	1,571	4,737
Properties held for sale(1)	0	0	1,609
Write-off of fully depreciated assets	772	540	722
Balance, end of year	(296,777)	(228,742)	$ (173,541)
Contractual purchase price	970,697	$ 492,850
3340 San Fernando Road
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Contractual purchase price	$ 3,000