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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2015	Feb. 19, 2016	Jun. 30, 2015
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	FY
Trading Symbol	REXR
Entity Registrant Name	Rexford Industrial Realty, Inc.
Entity Central Index Key	0001571283
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		55,594,518
Entity Public Float			$ 800,976,794

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
ASSETS
Land	$ 492,704	$ 368,033
Buildings and improvements	650,075	530,191
Tenant improvements	28,977	21,404
Furniture, fixtures, and equipment	188	188
Construction in progress	16,822	10,646
Total real estate held for investment	1,188,766	930,462
Accumulated depreciation	(103,623)	(76,884)
Investments in real estate, net	1,085,143	853,578
Cash and cash equivalents	5,201	8,606
Notes receivable	0	13,137
Rents and other receivables, net	3,040	1,812
Deferred rent receivable, net	7,827	5,165
Deferred leasing costs, net	5,331	3,608
Deferred loan costs, net	1,445	2,045
Acquired lease intangible assets, net	30,383	28,136
Acquired indefinite-lived intangible	5,271	5,271
Other assets	5,523	4,699
Acquisition related deposits	0	2,110
Investment in unconsolidated real estate entities	4,087	4,018
Total Assets	1,153,251	932,185
Liabilities
Notes payable	418,154	356,362
Interest rate swap liability	3,144	1,402
Accounts payable, accrued expenses and other liabilities	12,631	10,053
Dividends payable	7,806	5,244
Acquired lease intangible liabilities, net	3,387	3,016
Tenant security deposits	11,539	8,768
Prepaid rents	2,846	1,463
Total Liabilities	459,507	386,308
Rexford Industrial Realty, Inc. stockholders’ equity
Common Stock, $0.01 par value 490,000,000 authorized and 55,598,684 and 43,702,442 outstanding as of December 31, 2015 and December 31, 2014, respectively	553	434
Additional paid in capital	722,722	542,318
Cumulative distributions in excess of earnings	(48,103)	(21,673)
Accumulated other comprehensive loss	(3,033)	(1,331)
Total stockholders’ equity	672,139	519,748
Noncontrolling interests	21,605	26,129
Total Equity	693,744	545,877
Total Liabilities and Equity	$ 1,153,251	$ 932,185

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	490,000,000	490,000,000
Common stock, shares outstanding	55,598,684	43,702,442

CONSOLIDATED AND COMBINED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	5 Months Ended	7 Months Ended	12 Months Ended
	Dec. 31, 2013	Jul. 23, 2013	Dec. 31, 2015	Dec. 31, 2014
RENTAL REVENUES
Rental revenues	$ 18,449		$ 81,114	$ 56,636
Tenant reimbursements	2,161		10,479	7,661
Other income	93		1,013	307
TOTAL RENTAL REVENUES	20,703		92,606	64,604
Management, leasing and development services	534		584	860
Interest income	381		710	1,117
TOTAL REVENUES	21,618		93,900	66,581
OPERATING EXPENSES
Property expenses	6,396		25,000	18,382
General and administrative	5,327		15,016	12,144
Depreciation and amortization	8,686		41,837	28,608
TOTAL OPERATING EXPENSES	20,409		81,853	59,134
OTHER (INCOME) EXPENSE
Acquisition expenses	540		2,136	2,038
Interest expense	1,763		8,453	6,400
Gain on mark-to-market of interest rate swaps	0		0	0
TOTAL OTHER EXPENSE	2,303		10,589	8,438
TOTAL EXPENSES	22,712		92,442	67,572
Equity in income (loss) from unconsolidated real estate entities	92		93	(29)
Gain from early repayment of note receivable	0		581	0
Loss on extinguishment of debt	0		(182)	0
Loss on sale of real estate	0		0	(150)
NET INCOME (LOSS) FROM CONTINUING OPERATIONS	(1,002)		1,950	(1,170)
DISCONTINUED OPERATIONS
Income (loss) from discontinued operations before gain on sale of real estate and loss on extinguishment of debt	291		0	21
Loss on extinguishment of debt	0		0	0
Gain on sale of real estate	0		0	2,125
INCOME FROM DISCONTINUED OPERATIONS	291		0	2,146
NET INCOME (LOSS)	(711)	$ (4,281)	1,950	976
Less: net (income) loss attributable to noncontrolling interest	86		(76)	(80)
NET INCOME (LOSS) ATTRIBUTABLE TO REXFORD INDUSTRIAL REALTY, INC.	(625)		1,874	896
NET INCOME (LOSS) ATTRIBUTABLE TO:
Less: earnings allocated to participating securities	(29)		(223)	(102)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS	$ (654)		$ 1,651	$ 794
Income (loss) from continuing operations available to common stockholders per share - basic and diluted (in dollars per share)	$ (0.04)		$ 0.03	$ (0.04)
Net income (loss) available to common stockholders per share - basic and diluted (in dollars per share)	$ (0.03)		$ 0.03	$ 0.02
Weighted average shares of common stock outstanding - basic and diluted (in shares)	24,925,226		54,024,923	31,953,506
Predecessor
RENTAL REVENUES
Rental revenues		19,206
Tenant reimbursements		2,212
Other income		187
TOTAL RENTAL REVENUES		21,605
Management, leasing and development services		444
Interest income		698
TOTAL REVENUES		22,747
OPERATING EXPENSES
Property expenses		5,924
General and administrative		4,420
Depreciation and amortization		7,022
TOTAL OPERATING EXPENSES		17,366
OTHER (INCOME) EXPENSE
Acquisition expenses		724
Interest expense		9,395
Gain on mark-to-market of interest rate swaps		(49)
TOTAL OTHER EXPENSE		10,070
TOTAL EXPENSES		27,436
Equity in income (loss) from unconsolidated real estate entities		(915)
Gain from early repayment of note receivable		1,365
Loss on extinguishment of debt		(3,955)
Loss on sale of real estate		0
NET INCOME (LOSS) FROM CONTINUING OPERATIONS		(8,194)
DISCONTINUED OPERATIONS
Income (loss) from discontinued operations before gain on sale of real estate and loss on extinguishment of debt		(809)
Loss on extinguishment of debt		(267)
Gain on sale of real estate		4,989
INCOME FROM DISCONTINUED OPERATIONS		3,913
NET INCOME (LOSS)		(4,281)
Less: net (income) loss attributable to noncontrolling interest		15
NET INCOME (LOSS) ATTRIBUTABLE TO REXFORD INDUSTRIAL REALTY, INC.		(4,266)
NET INCOME (LOSS) ATTRIBUTABLE TO:
Less: earnings allocated to participating securities		0
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS		$ (4,266)

CONSOLIDATED AND COMBINED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	5 Months Ended	7 Months Ended	12 Months Ended
	Dec. 31, 2013	Jul. 23, 2013	Dec. 31, 2015	Dec. 31, 2014
Net income (loss)	$ (711)	$ (4,281)	$ 1,950	$ 976
Other comprehensive loss: cash flow hedge adjustment	0		(1,742)	(1,402)
Comprehensive income (loss)	(711)		208	(426)
Less: comprehensive (income) loss attributable to noncontrolling interests	86		(36)	(9)
Comprehensive income (loss) attributable to common stockholders	$ (625)		$ 172	$ (435)
Predecessor
Net income (loss)		(4,281)
Other comprehensive loss: cash flow hedge adjustment		0
Comprehensive income (loss)		(4,281)
Less: comprehensive (income) loss attributable to noncontrolling interests		15
Comprehensive income (loss) attributable to common stockholders		$ (4,266)

CONSOLIDATED AND COMBINED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Cumulative Distributions in Excess of Earnings	Accumulated Other Comprehensive Loss	Total Stockholders’ Equity	Noncontrolling Interests
Beginning Balance (Predecessor) at Dec. 31, 2012						$ (12,691)	$ 108,939
Beginning Balance at Dec. 31, 2012	$ 96,248
Capital contributions \| Predecessor						6	1,150
Capital contributions	1,156
Equity based compensation expense \| Predecessor							1,000
Equity based compensation expense	1,000
Distributions \| Predecessor						(2,096)	(4,729)
Distributions	(6,825)
Contribution of Rexford Sponsor V, LLC and Rexford Industrial Fund V REIT, LLC \| Predecessor						1,005	39,685
Contribution of Rexford Sponsor V, LLC and Rexford Industrial Fund V REIT, LLC	40,690
Distributions \| Predecessor						(708)	(31,020)
Distributions	(31,728)
Repurchase of interests from unaccredited investors \| Predecessor						(96)	(1,004)
Repurchase of interests from unaccredited investors	(1,100)
Exchange of common units to acquire tenant-in-common	40						40
Exchange of Predecessor's equity for common stock and units \| Predecessor						18,846	(114,006)
Exchange of Predecessor's equity for common stock and units	0	$ 49	$ 49,864			49,913	45,247
Exchange of Predecessor's equity for common stock, shares		4,943,225
Net income (loss) \| Predecessor	(4,281)					(4,266)	(15)
Net income (loss)	(4,281)
Other comprehensive loss: cash flow hedge adjustment \| Predecessor	0
Ending Balance at Jul. 23, 2013	95,200	$ 49	49,864			49,913	45,287
Ending Balance, shares at Jul. 23, 2013		4,943,225
Beginning Balance (Predecessor) at Dec. 31, 2012						(12,691)	108,939
Beginning Balance at Dec. 31, 2012	$ 96,248
Exchange of Predecessor's equity for common stock, shares	4,947,558
Proceeds from private placement, shares	3,358,311
Ending Balance at Dec. 31, 2013	$ 341,769	$ 255	311,936	$ (5,993)		306,198	35,571
Ending Balance, shares at Dec. 31, 2013		25,559,886
Beginning Balance at Jul. 23, 2013	95,200	$ 49	49,864			49,913	45,287
Beginning Balance, shares at Jul. 23, 2013		4,943,225
Issuance of common stock	230,330	$ 165	230,165			230,330
Issuance of common stock, shares		16,451,972
Offering costs	(24,824)		(24,824)			(24,824)
Proceeds from private placement	47,016	$ 34	46,982			47,016
Proceeds from private placement, shares		3,358,311
Share-based compensation	433		433			433
Share-based compensation, shares		140,468
Reallocation and issuance of OP units and common stock related to the Accommodation	(307)	$ 7	9,316			9,323	(9,630)
Reallocation and Issuance of OP Units and Common Stock Related to the Accommodation Shares		665,910
Net income (loss)	(711)			(625)		(625)	(86)
Other comprehensive loss: cash flow hedge adjustment	0
Dividends	(5,368)			(5,368)		(5,368)
Ending Balance at Dec. 31, 2013	341,769	$ 255	311,936	(5,993)		306,198	35,571
Ending Balance, shares at Dec. 31, 2013		25,559,886
Issuance of common stock	232,875	$ 172	232,703			232,875
Issuance of common stock, shares		17,250,000
Offering costs	(11,158)		(11,158)			(11,158)
Share-based compensation	1,163		1,163			1,163
Share-based compensation, shares		213,569
Repurchase of common shares	(98)		(98)			(98)
Repurchase of common shares, shares		(6,928)
Conversion of units to common stock	0	$ 7	7,772			7,779	(7,779)
Conversion of units to common stock, shares		685,915
Net income (loss)	976			896		896	80
Other comprehensive loss: cash flow hedge adjustment	(1,402)				$ (1,331)	(1,331)	(71)
Dividends	(16,576)			(16,576)		(16,576)
Distributions	(1,672)						(1,672)
Ending Balance at Dec. 31, 2014	$ 545,877	$ 434	542,318	(21,673)	(1,331)	519,748	26,129
Ending Balance, shares at Dec. 31, 2014	43,702,442	43,702,442
Issuance of common stock	$ 184,007	$ 115	183,892			184,007
Issuance of common stock, shares		11,500,500
Offering costs	(8,174)		(8,174)			(8,174)
Share-based compensation	1,852	$ 1	1,764			1,765	87
Share-based compensation, shares		120,178
Repurchase of common shares	(191)		(191)			(191)
Repurchase of common shares, shares		(12,670)
Conversion of units to common stock	0	$ 3	3,159			3,162	(3,162)
Repurchase of operating partnership units	(136)		(46)			(46)	(90)
Net income (loss)	1,950			1,874		1,874	76
Other comprehensive loss: cash flow hedge adjustment	(1,742)				(1,702)	(1,702)	(40)
Dividends	(28,304)			(28,304)		(28,304)
Distributions	(1,395)						(1,395)
Ending Balance at Dec. 31, 2015	$ 693,744	$ 553	$ 722,722	$ (48,103)	$ (3,033)	$ 672,139	$ 21,605
Ending Balance, shares at Dec. 31, 2015	55,598,684	55,598,684

CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	5 Months Ended	7 Months Ended	12 Months Ended
	Dec. 31, 2013	Jul. 23, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (711)	$ (4,281)	$ 1,950	$ 976
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Equity in (income) loss of unconsolidated real estate entities	(92)		(93)	29
Depreciation and amortization	8,686		41,837	28,608
Depreciation and amortization included in discontinued operations	92		0	7
Amortization of above (below) market lease intangibles, net	185		202	420
Accretion of discount on notes receivable	(83)		(178)	(263)
Gain from early repayment of notes receivable	0		(581)	0
Loss on extinguishment of debt	0		182	0
Loss on sale of real estate	0		0	150
Gain on sale of real estate included in discontinued operations	0		0	(2,125)
Amortization of loan costs	216		812	684
Gain on mark-to-market of interest rate swaps	0		0	0
Amortization of discount on notes payable	0		(191)	(209)
Deferred interest expense	0		0	0
Equity based compensation expense	392		1,752	1,042
Change in working capital components:
Rents and other receivables	(79)		(1,228)	(883)
Deferred rent receivable	(795)		(3,425)	(1,400)
Change in restricted cash	0		0	0
Leasing commissions	(622)		(3,421)	(2,362)
Other assets	(815)		(1,286)	(1,069)
Accounts payable, accrued expenses and other liabilities	1,376		1,806	1,227
Tenant security deposits	230		1,608	961
Prepaid rent	932		762	(1,289)
Net cash provided by operating activities	8,912		40,508	24,504
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of investments in real estate	(78,749)		(230,599)	(383,662)
Capital expenditures	(1,784)		(22,181)	(13,959)
Consolidation of La Jolla Sorrento	0		0	0
Acquisition related deposits	(1,310)		2,110	(600)
Contributions to unconsolidated real estate entities	0		0	(105)
Distributions from unconsolidated real estate entities	57		0	1,745
Change in restricted cash	(36)		0	325
Principal repayments of notes receivable	103		13,896	265
Disposition of investment in real estate	0		0	15,410
Net cash used in investing activities	(81,719)		(236,774)	(380,581)
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of common stock, net	207,477		175,833	221,773
Proceeds from private placement	47,016		0	0
Proceeds from notes payable	148,375		272,000	301,500
Repayment of notes payable	(312,889)		(226,710)	(147,241)
Deferred loan costs	(1,813)		(796)	(1,876)
Prepaid offering costs	0		0	0
Debt extinguishment costs	0		(2)	0
Capital contributions from Predecessor members	0		0	0
Distributions to Predecessor members	0		0	0
Reimbursements due to Predecessor members	0		0	0
Distributions to Predecessor members related to formation transactions	(4,955)		0	0
Repurchase of interests from unaccredited investors	(1,100)		0	0
Distributions to Predecessor members related to the Accommodation	(307)		0	0
Dividends paid to common stockholders	0		(26,042)	(16,700)
Distributions paid to common unitholders	0		(1,095)	(1,672)
Repurchase of common shares	0		(191)	(98)
Repurchase of operating partnership units	0		(136)	0
Change in restricted cash	0		0	0
Net cash provided by (used in) financing activities	81,804		192,861	355,686
(Decrease) increase in cash and cash equivalents	8,997		(3,405)	(391)
Cash and cash equivalents, beginning of period	0		8,606	8,997
Cash and cash equivalents, end of period	8,997	0	5,201	8,606	$ 8,997
Supplemental disclosure of cash flow information:
Cash paid during the period for interest (net of capitalized interest of $754 and $42 for 2015 and 2014, respectively)	1,870		6,147	5,793
Contribution of Rexford Sponsor V LLC and Rexford Industrial Fund V REIT, LLC:
Investment in real estate and acquired intangibles	0		0	0
Investment in unconsolidated real estate entities	0		0	0
Notes receivable	0		0	0
Predecessor equity and noncontrolling interests	0		0	0
Acquisition of tenant-in-common interest in La Jolla Sorrento and consolidation of property previously accounted for under the equity method of accounting:
Investments in real estate and acquired intangibles	0		0	0
Investment in unconsolidated real estate entities	0		0	0
Additional paid in capital	0		0	0
Rexford Industrial Realty, Inc. Predecessor	0		0	0
Noncontrolling Interests	0		0	0
Assumption of loan in connection with acquisition of real estate including loan premium	0		17,097	10,565
Capital expenditure accruals	550		610	463
Accrual of dividends	5,368	0	$ 7,806	$ 5,244
Predecessor
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)		(4,281)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Equity in (income) loss of unconsolidated real estate entities		915
Depreciation and amortization		7,022
Depreciation and amortization included in discontinued operations		776
Amortization of above (below) market lease intangibles, net		256
Accretion of discount on notes receivable		(94)
Gain from early repayment of notes receivable		(1,365)
Loss on extinguishment of debt		4,222
Loss on sale of real estate		0
Gain on sale of real estate included in discontinued operations		(4,989)
Amortization of loan costs		784
Gain on mark-to-market of interest rate swaps		(49)
Amortization of discount on notes payable		0
Deferred interest expense		573
Equity based compensation expense		985
Change in working capital components:
Rents and other receivables		(161)
Deferred rent receivable		(263)
Change in restricted cash		1,137
Leasing commissions		(980)
Other assets		(1,172)
Accounts payable, accrued expenses and other liabilities		942
Tenant security deposits		507
Prepaid rent		(172)
Net cash provided by operating activities		4,593
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of investments in real estate		(73,332)
Capital expenditures		(1,439)
Consolidation of La Jolla Sorrento		373
Acquisition related deposits		50
Contributions to unconsolidated real estate entities		0
Distributions from unconsolidated real estate entities		271
Change in restricted cash		408
Principal repayments of notes receivable		5,516
Disposition of investment in real estate		21,537
Net cash used in investing activities		(46,616)
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of common stock, net		0
Proceeds from private placement		0
Proceeds from notes payable		55,590
Repayment of notes payable		(21,135)
Deferred loan costs		(812)
Prepaid offering costs		(1,504)
Debt extinguishment costs		0
Capital contributions from Predecessor members		1,156
Distributions to Predecessor members		(6,825)
Reimbursements due to Predecessor members		(1,221)
Distributions to Predecessor members related to formation transactions		(26,773)
Repurchase of interests from unaccredited investors		0
Distributions to Predecessor members related to the Accommodation		0
Dividends paid to common stockholders		0
Distributions paid to common unitholders		0
Repurchase of common shares		0
Repurchase of operating partnership units		0
Change in restricted cash		48
Net cash provided by (used in) financing activities		(1,476)
(Decrease) increase in cash and cash equivalents		(43,499)
Cash and cash equivalents, beginning of period	$ 0	43,499			$ 43,499
Cash and cash equivalents, end of period		0
Supplemental disclosure of cash flow information:
Cash paid during the period for interest (net of capitalized interest of $754 and $42 for 2015 and 2014, respectively)		8,587
Contribution of Rexford Sponsor V LLC and Rexford Industrial Fund V REIT, LLC:
Investment in real estate and acquired intangibles		(32,493)
Investment in unconsolidated real estate entities		(2,844)
Notes receivable		(5,305)
Predecessor equity and noncontrolling interests		40,642
Acquisition of tenant-in-common interest in La Jolla Sorrento and consolidation of property previously accounted for under the equity method of accounting:
Investments in real estate and acquired intangibles		(8,369)
Investment in unconsolidated real estate entities		8,654
Additional paid in capital		10
Rexford Industrial Realty, Inc. Predecessor		(6)
Noncontrolling Interests		84
Assumption of loan in connection with acquisition of real estate including loan premium		0
Capital expenditure accruals		$ 0

CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	5 Months Ended	7 Months Ended	12 Months Ended
	Dec. 31, 2013	Jul. 23, 2013	Dec. 31, 2015	Dec. 31, 2014
Capitalized interest, net	$ 0		$ 754	$ 42
Predecessor
Capitalized interest, net		$ 0

Organization	12 Months Ended
Organization	Dec. 31, 2015
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 primarily located in Southern California infill markets. As of December 31, 2015, our consolidated portfolio consisted of 119 properties with approximately 12.0 million rentable square feet. We also own a 15% interest in a joint venture that owns one property with approximately 0.5 million square feet, which we also manage. In addition, we currently manage an additional 19 properties with approximately 1.2 million rentable square feet. We did not have any meaningful operating activity until the consummation of our initial public offering (“IPO”) and the related acquisition of certain assets of our predecessor as part of our formation transactions on July 24, 2013. The historical financial results in these financial statements for periods prior to July 24, 2013 relate to our accounting predecessor. Our predecessor (the “Predecessor” or “Rexford Industrial Realty, Inc. Predecessor”) is comprised of Rexford Industrial, LLC (“RILLC”), Rexford Sponsor V, LLC (“Sponsor”), Rexford Industrial Fund V REIT, LLC (“RIF V REIT”) and their consolidated subsidiaries, which consist of Rexford Industrial Fund I, LLC (“RIF I”), Rexford Industrial Fund II, LLC (“RIF II”), Rexford Industrial Fund III, LLC (“RIF III”), Rexford Industrial Fund IV, LLC (“RIF IV”), Rexford Industrial Fund V, LP (“RIF V”) and their subsidiaries (collectively the “Predecessor Funds”). The entities comprising Rexford Industrial Realty, Inc. Predecessor are combined on the basis of common management and common ownership. We have determined that one of the entities, RILLC, was the acquirer for accounting purposes in our formation transactions. In addition, we have concluded that any interests contributed by the members of the other entities comprising the Predecessor (Sponsor, RIF V REIT and their consolidated subsidiaries), was a business combination since these entities have common management and ownership, but are not under common control with RILLC. RILLC was controlled by one of the principals of Rexford Industrial Realty, Inc. Predecessor, while Sponsor and RIF V REIT were jointly controlled by the principals of Rexford Industrial Realty, Inc. Predecessor. As a result, the contribution of interests in RILLC as the accounting acquirer has been recorded at historical cost, and the contribution or acquisition of interests in entities other than those owned or controlled by RILLC in the formation transactions, including Sponsor, RIF V REIT and their consolidated subsidiaries, has been accounted for as an acquisition under the acquisition method of accounting and recognized at the estimated fair value of acquired assets and assumed liabilities on the date of such contribution or acquisition. See Note 3. 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) subsequent to our IPO on July 24, 2013 and our Predecessor prior to that date. Basis of Presentation As of December 31, 2015 and 2014, and for the years ended December 31, 2015 and 2014 and the period from July 24, 2013 to December 31, 2013, the financial statements presented are the consolidated financial statements of Rexford Industrial Realty, Inc. and its subsidiaries, including our Operating Partnership. The financial statements presented for the period from January 1, 2013 through July 24, 2013 are the combined financial statements of our Predecessor. All of the outside ownership interests in entities that our Predecessor consolidates are included in noncontrolling interests. All significant intercompany balances and transactions have been eliminated in the consolidated and combined financial statements. The accompanying 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 including modifications issued under Accounting Standards Updates (“ASUs”). 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 and combined financial statements and accompanying notes. Actual results could differ from those estimates. We consolidate all entities that are wholly owned and those in which we own less than 100% but control, as well as any variable interest entities in which we are the primary beneficiary. We evaluate our ability to control an entity and whether the entity is a variable interest entity and we are the primary beneficiary through consideration of the substantive terms of the arrangement to identify which enterprise has the power to direct the activities of a variable interest entity that most significantly impacts the entity’s economic performance and the obligation to absorb losses of the entity or the right to receive benefits from the entity. Investments in entities in which we do not control but over which we have the ability to exercise significant influence over operating and financial policies are presented under the equity method. Investments in entities that we do not control and over which we do not exercise significant influence are carried at the lower of cost or fair value, as appropriate. Our ability to correctly assess our influence and/or control over an entity affects the presentation of these investments in our consolidated and combined financial statements. Certain prior period amounts have been reclassified to conform to the current year presentation. 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.

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies 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. Discontinued Operations On April 14, 2014, the FASB issued ASU 2014-08: Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (“ASU 2014-08”). Under ASU 2014-08, only disposals that represent a strategic shift that has (or will have) a major effect on the entity’s results and operations would qualify as discontinued operations. ASU 2014-08 further expands the disclosure requirements for disposals that meet the definition of a discontinued operation, and requires entities to disclose information about disposals of individually significant components. We elected to adopt ASU 2014-08 early, beginning in the fiscal quarter ended September 30, 2014. The adoption of ASU 2014-08 has and will likely result in fewer property sales being classified as discontinued operations. The revenues and expenses of operating properties that were either sold or classified as held for sale prior to the adoption of ASU 2014-08, are reported as discontinued operations in the consolidated and combined statements of operations for all periods presented through the date of the disposition. We did not have any dispositions of operating properties during the year ended December 31, 2015. During the years ended December 31, 2014 and 2013, we sold eight of our operating properties, of which seven of these properties were sold and classified as held for sale prior to the adoption of ASU 2014-08. As such, the results of operations (prior to disposition) and the gain (loss) on sale of real estate of these seven properties have been reported under discontinued operations in the consolidated and combined statements of operations for the year ended December 31, 2014, the period from July 24, 2013 to December 31, 2013 and the period from January 1, 2013 to July 23, 2013. See Note 13. Investment in Real Estate Acquisitions When we acquire operating properties with the intention to hold the investment for the long-term, and such acquisitions meet the accounting criteria to be accounted for as a business combination, we allocate the purchase price to the various components of the acquisition based upon the fair value of each component. The components typically include land, building and improvements, tenant improvements, intangible assets related to above and below market leases, intangible assets related to in-place leases, debt and other assumed assets and liabilities. Because of the timing or complexity of completing certain fair value adjustments, the initial purchase price allocation may be incomplete at the end of a reporting period, in which case we may record provisional purchase price allocation amounts based on information available at the acquisition date. Subsequent adjustments to provisional amounts are recognized during the measurement period, which cannot exceed one year from the date of acquisition. We allocate the purchase price to the fair value of the tangible assets of a 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 our assumptions about 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 calculating the “as-if-vacant” value for acquisitions completed during the year ended December 31, 2015, we used discount rates ranging from 7.00% and 11.75%. 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 costs that would have been incurred to lease the property to the occupancy level of the property at the date of acquisition. Such estimates include the value associated with leasing commissions, legal and other costs, as well as the estimated period necessary to lease such property that would be incurred to lease the property to its occupancy level at the time of its acquisition. Acquisition costs associated with the business combination are expensed in the period they are incurred. The difference between the fair value and the face value of debt assumed 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. For acquisitions that do not meet the accounting criteria to be accounted for as a business combination, we allocate the cost of the acquisition, which includes any associated acquisition costs, to the individual assets (typically land and building) and liabilities assumed on a relative fair value basis. During the years ended December 31, 2015 and 2014, the period from July 24, 2013 to December 31, 2013 and the period from January 1, 2013 to July 23, 2013, we capitalized $0.7 million, $0.3 million, $0.2 million and $0 respectively, in aggregated acquisition costs. See Note 3. 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 noncash 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 $0.8 million and $42 thousand during the years ended December 31, 2015 and 2014, respectively. We did not capitalize any similar costs for the period from July 24, 2013 to December 31, 2013 and the period from January 1, 2013 to July 23, 2013. We capitalized real estate taxes and insurance aggregating $0.8 million and $0.1 million during the years ended December 31, 2015 and 2014, respectively. We did not capitalize any similar costs for the period from July 24, 2013 to December 31, 2013 and the period from January 1, 2013 to July 23, 2013. We capitalized compensation costs for employees who provide construction services of $0.9 million, $0.6 million, $0.2 million and $0.1 million during the years ended December 31, 2015 and 2014, the period from July 24, 2013 to December 31, 2013 and the period from January 1, 2013 to July 23, 2013, respectively. Depreciation and Amortization Real estate, including land, building and land improvements, tenant improvements, and 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 regards 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 revenues” 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 a change in the useful life, which requires significant judgment regarding the economic obsolescence of tangible and intangible assets. Impairment of Long-Lived Assets In accordance with the provisions of the Impairment or Disposal of Long-Lived Assets Subsections of ASC Topic 360: Property, Plant, and Equipment, 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. In order 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. 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 ventures is included within the consolidated and combined statements of operations. See Note 12. Deferred Leasing Costs We capitalize costs directly related to the successful origination of a lease. These costs include leasing commissions paid to third parties for new leases or lease renewals, as well as an allocation of compensation costs, including payroll, bonus and non-cash equity compensation, of employees who spend time on lease origination activities. In determining the amount of compensation costs to be capitalized for these employees, allocations are 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 $0.5 million, $0.5 million, $0.2 million and $0.2 million during the years ended December 31, 2015 and 2014, the period from July 24, 2013 to December 31, 2013 and the period from January 1, 2013 to July 23, 2013, respectively. 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 federal income tax at regular corporate rates, 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 year ended December 31, 2015 and 2014 and for the period from July 24, 2013 through December 31, 2013. Each of RIF I, RIF II, RIF III and RIF IV are limited liability companies but have elected to be taxed as a partnership for tax purposes. As such, the allocated share of net income or loss from the limited liability companies is reportable in the income tax returns of the respective partners and investors. Accordingly, no income tax provision is included in the accompanying combined financial statements. RIF V REIT has elected to be taxed as a REIT under the Code, commencing with its tax period ended December 31, 2010. We believe that RIF V REIT met all of the REIT distribution and technical requirements for the period from January 1, 2013 to July 23, 2013. Accordingly, we have not recognized any provision for income taxes. 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, 2015 and 2014, 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 8. Revenue Recognition We recognize revenue from rent, tenant reimbursements and other revenue sources once all of the following criteria are met: persuasive evidence of an arrangement exists, the delivery has occurred or services rendered, the fee is fixed and determinable and collectability is reasonably assured. Minimum annual rental revenues are recognized in rental revenues on a straight-line basis over the term of the related lease. Rental revenue recognition commences when the tenant takes possession or controls the physical use of the leased space. 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. Lease termination fees, which are included in rental revenues in the accompanying consolidated and combined statements of operations, are recognized when the related lease is canceled and we have no continuing obligation to provide services to such former tenant. Revenues from management, leasing and development services are recognized when the related services have been provided and earned. The recognition of gains on sales of real estate requires us to measure the timing of a sale against various criteria related to the terms of the transaction, as well as any continuing involvement in the form of management or financial assistance associated with the property. If the sales criteria are not met, we defer gain recognition and account for the continued operations of the property by applying the finance, profit-sharing or leasing method. If the sales criteria have been met, we further analyze whether profit recognition is appropriate using the full accrual method. If the criteria to recognize profit using the full accrual method have not been met, we defer the gain and recognize it when the criteria are met or use the installment or cost recovery method as appropriate under the circumstances. See Note 13 for discussion of dispositions. Valuation of Receivables We are subject to tenant defaults and bankruptcies that could affect the collection of outstanding receivables. 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. We specifically analyze aged receivables, customer credit-worthiness, historical bad debts and current economic trends when evaluating the adequacy of the allowance for doubtful accounts. As a result of our periodic analysis, we maintain an allowance for estimated losses that may result from the inability of our tenants to make required payments. This estimate requires significant judgment related to the lessees’ ability to fulfill their obligations under the leases. We believe our allowance for doubtful accounts is adequate for our outstanding receivables for the periods presented. If a tenant is insolvent or files for bankruptcy protection and fails to make contractual payments beyond any allowance, we may recognize additional bad debt expense in future periods equal to the net outstanding balances, which include amounts recognized as straight-line revenue not realizable until future periods. We recorded a provision for doubtful accounts of $1.5 million, $0.7 million, $0.2 million and $0.3 million for the year ended December 31, 2015, December 31, 2014, the period from July 24, 2013 through December 31, 2013 and the period from January 1, 2013 through July 23, 2013, respectively, as a reduction to rental revenues in our consolidated and combined statements of operations. We had a $2.0 million and $1.0 million reserve for allowance for doubtful accounts as of December 31, 2015 and 2014, respectively. 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 or performance condition, we recognize compensation cost on a straight-line basis over the requisite service period of each separately vesting tranche. See Note 15. Equity Offering Costs Underwriting commissions and offering costs have been reflected as a reduction of additional paid-in capital. 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 16. Segment Reporting Management views the Company as a single segment based on its method of internal reporting in addition to its allocation of capital and resources. 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. On September 25, 2015, the FASB issued ASU 2015-16, Business Combinations: Simplifying the Accounting for Measurement-Period Adjustments (“ASU 2015-16”). ASU 2015-16 requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The effect on earnings of changes in depreciation or amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date, must be recorded in the reporting period in which the adjustment amounts are determined rather than retrospectively. ASU 2015-16 also requires that an acquirer present separately on the face of the income statement, or disclose in the notes, the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. ASU 2015-16 is effective prospectively for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years, with early adoption permitted. We have elected to adopt ASU 2015-16 early, beginning with the quarter ended September 30, 2015. There was no change to our consolidated financial statements or notes to our consolidated financial statements as a result of early adoption. On April 7, 2015, the FASB issued ASU 2015-03, Interest - Imputation of Interest (“ASU 2015-03”). ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be 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. ASU 2015-03 is effective for annual and interim periods beginning on or after December 15, 2015, with early adoption permitted on a retrospective basis. We have elected to adopt ASU 2015-03 early, beginning with the quarter ended March 31, 2015. As a result of the adoption of ASU 2015-03, we have reclassified approximately $0.7 million of net debt issuance costs from an asset (previously recorded in the line item “Deferred loan costs, net” in the consolidated balance sheets) to a reduction in the carrying amount of our notes payable as of December 31, 2014. Net debt issuance costs related to establishing our revolving line of credit will continue to be presented in the line item “Deferred loan costs, net” as an asset in the consolidated balance sheets. ASU 2015-03 also expands disclosure requirements to include the face amount of the debt liability and the effective interest rate in the notes to the consolidated financial statements. See Note 6. In February 2015, the FASB issued ASU 2015-02, Amendments to the Consolidation Analysis (“ASU 2015-02”). ASU 2015-02 requires reporting entities to evaluate whether they should consolidate certain legal entities. ASU 2015-02 modifies the evaluation of whether limited partnerships and similar legal entities are variable interest entities (“VIEs”) or voting interest entities and eliminates the presumption that a general partner should consolidate a limited partnership. This ASU affects the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships. ASU 2015-02 is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015, with early adoption permitted. A reporting entity may apply the amendments in the ASU using: (i) a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption or (ii) by applying the amendments retrospectively. We do not expect the adoption of ASU 2015-02 to have a material impact on our consolidated financial statements. On May 28, 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”). ASU 2014-09 establishes principles for reporting the nature, amount, timing and uncertainty of revenues and cash flows arising from an entity’s contracts with customers. The core principle of the new standard is that an entity recognizes revenue to represent the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. For public entities, ASU 2014-09 is effective for annual reporting periods, including interim reporting periods within those periods, beginning after December 15, 2016. In August 2015, the FASB issued ASU 2015-14, to defer the implementation of ASU 2014-09 date by one year, which would make this ASU effective for annual reporting periods beginning after December 15, 2017. Early application is permitted for fiscal years beginning after December 15, 2016. ASU 2014-09 notes that lease contracts with customers are a scope exception, and accordingly, we do not expect the adoption to have a material impact on our consolidated financial statements or notes to our consolidated financial statements.

Investments in Real Estate

12 Months Ended

Dec. 31, 2015

Investments, All Other Investments [Abstract]

Investments in Real Estate

Acquisitions

The following table sets forth the wholly-owned industrial properties we acquired during the year ended December 31, 2015:



Property	Submarket	Date of Acquisition	Rentable Square Feet	Number of Buildings	Purchase Price (in thousands)
8902-8940 Activity Road⁽¹⁾	San Diego - Central	1/21/2015	112,501	5	$	18,450
12907 Imperial Highway⁽²⁾	Los Angeles - Mid-counties	1/21/2015	101,080	1	12,180
1210 North Red Gum Street⁽³⁾	Orange County - North	3/9/2015	64,570	1	7,650
9401 De Soto Avenue⁽³⁾	Los Angeles - San Fernando Valley	3/18/2015	150,263	1	14,075
9615 Norwalk Boulevard⁽³⁾	Los Angeles - Mid-counties	4/30/2015	38,362	2	9,642
16221 Arthur Street⁽³⁾	Los Angeles - Mid-counties	5/1/2015	61,372	1	5,774
2588 & 2605 Industry Way⁽¹⁾	Los Angeles - South Bay	5/12/2015	164,662	2	22,000
425 South Hacienda Boulevard⁽¹⁾	Los Angeles - San Gabriel Valley	5/15/2015	51,823	1	7,000
6700 Alameda Street⁽⁴⁾	Los Angeles - Central LA	6/29/2015	78,280	1	14,500
12720-12860 Danielson Court⁽¹⁾	San Diego - Central	7/10/2015	112,062	6	16,900
10950 Norwalk Boulevard⁽³⁾	Los Angeles - Mid-counties	7/29/2015	18,995	1	4,973
610-760 Hueneme Road⁽³⁾	Ventura	8/11/2015	86,904	2	9,607
10709-10719 Norwalk Boulevard⁽³⁾	Los Angeles - Mid-counties	9/1/2015	58,056	2	7,242
6020 Sheila Street⁽⁴⁾	Los Angeles - Central LA	9/18/2015	70,877	1	12,220
9805 6th Street⁽⁴⁾	Inland Empire West	9/30/2015	81,377	1	6,894
16321-16327 Arrow Highway⁽¹⁾	Los Angeles - San Gabriel Valley	10/14/2015	64,296	3	8,120
2535 Midway Drive⁽¹⁾	San Diego - Central	10/22/2015	373,744	2	19,295
601-605 Milliken Avenue⁽¹⁾	Inland Empire West	12/8/2015	128,322	3	13,000
1065 Walnut Street⁽⁵⁾	Los Angeles - South Bay	12/11/2015	172,420	1	16,700
12247 Lakeland Road⁽¹⁾	Los Angeles - Mid-counties	12/16/2015	24,875	1	4,257
17311 Nichols Lane⁽⁴⁾	Orange County - West	12/30/2015	114,912	1	17,100
Total 2015 Wholly-Owned Property Acquisitions			2,129,753	39	$	247,579


(1)	This acquisition was funded with borrowings under our unsecured revolving credit facility.


(2)	This acquisition was funded as follows: (i) $5.4 million from the assumption of secured debt; (ii) $2.1 million from a deposit paid during the fourth quarter of 2014 and (iii) borrowings under our unsecured revolving credit facility. The assumed debt was recorded at fair value on the acquisition date, resulting in a premium of approximately $0.5 million.


(3)	This acquisition was funded with available cash on hand.


(4)	This acquisition was funded in part with available cash on hand and in part with borrowings under our unsecured revolving credit facility.


(5)	This acquisition was funded as follows: (i) $10.9 million from the assumption of secured debt and (ii) borrowings under our unsecured revolving credit facility. The assumed debt was recorded at fair value on the acquisition date, resulting in a premium of approximately $0.3 million.

The following table sets forth the wholly-owned industrial properties we acquired during the year ended December 31, 2014:



Property	Submarket	Date of Acquisition	Rentable Square Feet	Number of Buildings	Purchase Price (in thousands)
7110 Rosecrans Avenue⁽¹⁾	Los Angeles - South Bay	1/15/2014	72,000	1	$	4,969
14723-14825 Oxnard Street⁽¹⁾	Los Angeles - San Fernando Valley	1/22/2014	78,000	6	8,875
Ontario Airport Business Park⁽²⁾	Inland Empire West	2/12/2014	113,612	5	8,550
1500-1510 West 228th Street^(1)(2)(3)	Los Angeles - South Bay	2/25/2014	88,330	6	6,600
24105 & 24201 Frampton Avenue⁽¹⁾	Los Angeles - South Bay	3/20/2014	47,903	1	3,930
1700 Saturn Way⁽¹⁾	Orange County - West	4/17/2014	170,865	1	21,100
20531 Crescent Bay Drive⁽¹⁾	Orange County - South	5/30/2014	46,178	1	6,480
2980 & 2990 N. San Fernando Blvd.⁽⁴⁾	Los Angeles - San Fernando Valley	5/30/2014	130,800	1	15,425
2610 & 2701 S. Birch Street⁽¹⁾	OC Airport	6/5/2014	98,105	2	11,000
4051 Santa Ana St. & 701 Dupont Ave.⁽¹⁾	Inland Empire West	6/24/2014	111,890	2	10,200
9755 Distribution Avenue⁽⁵⁾	San Diego - Central	6/27/2014	47,666	1	5,425
9855 Distribution Avenue⁽⁵⁾	San Diego - Central	6/27/2014	60,819	1	8,525
9340 Cabot Drive⁽⁵⁾	San Diego - Central	6/27/2014	86,564	1	10,975
9404 Cabot Drive⁽⁵⁾	San Diego - Central	6/27/2014	46,846	1	6,400
9455 Cabot Drive⁽⁵⁾	San Diego - Central	6/27/2014	96,840	1	12,100
14955-14971 E. Salt Lake City⁽⁵⁾	Los Angeles - San Gabriel Valley	6/27/2014	126,036	1	10,850
5235 E. Hunter Avenue⁽⁵⁾	Orange County - North	6/27/2014	119,692	1	11,329
3880 West Valley Boulevard⁽⁵⁾	Los Angeles - San Gabriel Valley	6/27/2014	108,703	1	9,631
1601 Alton Parkway⁽⁵⁾	OC Airport	6/27/2014	124,000	1	13,276
3116 West Avenue 32⁽¹⁾	Los Angeles - San Fernando Valley	7/8/2014	100,500	1	11,000
Chatsworth Industrial Park⁽¹⁾	Los Angeles - San Fernando Valley	7/23/2014	153,212	7	16,800
24935 & 24955 Avenue Kearny⁽¹⁾	Los Angeles - San Fernando Valley	7/25/2014	138,980	2	11,510
605 8th Street⁽⁶⁾	Los Angeles - San Fernando Valley	8/26/2014	55,516	1	5,075
9120 Mason Avenue⁽⁶⁾	Los Angeles - San Fernando Valley	9/12/2014	319,348	1	30,500
679-691 S Anderson Street⁽⁶⁾	Los Angeles - Central LA	11/24/2014	47,490	1	6,490
7900 Nelson Road⁽⁶⁾	Los Angeles - San Fernando Valley	11/25/2014	203,082	1	24,287
13231 Slover Avenue⁽⁷⁾	Inland Empire West	12/3/2014	109,463	1	7,640
10509 Business Drive⁽⁷⁾	Inland Empire West	12/3/2014	130,788	1	9,040
240 West Ivy Avenue⁽¹⁾	Los Angeles - South Bay	12/5/2014	45,685	1	5,900
3120-3150 Paseo Mercado⁽⁷⁾	Ventura	12/9/2014	132,187	5	11,600
2350-2380 Eastman Avenue⁽⁷⁾	Ventura	12/9/2014	55,296	4	6,025
1800 Eastman Avenue⁽⁷⁾	Ventura	12/9/2014	33,332	1	3,250
2360-2364 E. Sturgis Road⁽⁷⁾	Ventura	12/9/2014	49,624	3	4,050
201 Rice Ave. & 2400-2420 Celsius⁽⁷⁾	Ventura	12/9/2014	137,785	3	13,725
11120-11200 Hindry Avenue⁽¹⁾	Los Angeles - South Bay	12/18/2014	63,654	3	11,910
6970-7374 Convoy Court⁽¹⁾	San Diego - Central	12/31/2014	187,763	13	32,325
Total 2014 Wholly-Owned Property Acquisitions			3,738,554	84	$	396,767


(1)	This acquisition was funded with borrowings under our unsecured revolving credit facility.


(2)	This acquisition was funded as part of a 1031 exchange using proceeds from the disposition of our property located at 1335 Park Center Drive.

(3)

As part of the acquisition of 1500-1510 West 228th Street, we recorded a contingent liability in the amount of $1.2 million, related to the estimated cost to remediate potential environmental liabilities that existed at the acquisition date. Additionally, we recorded an indemnification asset for the same amount as the seller has placed $1.3 million into an escrow account to be used by us toward the payment of these remediation costs. See Note 11.


(4)	In connection with the acquisition of 2980 and 2990 N. San Fernando Blvd. acquisition, we assumed debt with an outstanding principal balance of $10.3 million and an initial fair value premium of $0.3 million. The remaining purchase price was funded with borrowings under our unsecured revolving credit facility.


(5)	This property was acquired as part of an industrial portfolio consisting of nine properties. The portfolio was funded as follows: (i) a $48.5 million term loan secured by eight of these properties and (ii) borrowings under our unsecured revolving credit facility.


(6)	This acquisition was funded with available cash on hand.


(7)	This acquisition was funded in part with cash on hand and in part with borrowings under our unsecured revolving credit facility.

The following table summarizes the fair value of amounts recognized for each major class of asset and liability for the acquisitions noted in the table above, as of the date of acquisition (in thousands):



	Total 2015 Acquisitions		Total 2014 Acquisitions
Assets:
Land⁽¹⁾	$	124,660	$	151,954
Buildings and improvements⁽²⁾	106,496		216,651
Tenant improvements	4,792		6,817
Acquired lease intangible assets⁽³⁾	16,236		24,855
Other acquired assets⁽⁴⁾	128		1,444
Total assets acquired	252,312		401,721
Liabilities:
Acquired lease intangible liabilities⁽⁵⁾	1,713		2,482
Notes payable	17,097		10,565
Deferred rent liability	977		114
Other assumed liabilities⁽⁴⁾	1,926		4,898
Total liabilities assumed	21,713		18,059
Net assets acquired	230,599		383,662

(1)

The allocation to land in 2015 includes an aggregate $0.4 million of capitalized acquisition costs related to the purchases of 9401 De Soto Avenue, 16221 Arthur Street, 425 Hacienda Boulevard, 6020 Sheila Street, and 2535 Midway Drive, which were accounted for as asset acquisitions. The allocation to land in 2014 includes an aggregate $0.2 million of capitalized acquisition costs related to the purchases of 7110 Rosecrans Avenue, 2610 & 2701 S. Birch Street, and 7900 Nelson Road, which were accounted for as asset acquisitions.

(2)

The allocation to buildings and improvements in 2015 includes an aggregate $0.3 million of capitalized acquisition costs related to the purchases of 16221 Arthur Street, 425 Hacienda Boulevard, 6020 Sheila Street, and 2535 Midway Drive, which were accounted for as asset acquisitions. The allocation to buildings and improvements in 2014 includes an aggregate $0.1 million of capitalized acquisition costs related to the purchases of 7110 Rosecrans Avenue, 2610 & 2701 S. Birch Street, and 7900 Nelson Road, which were accounted for as asset acquisitions.


(3)	For 2015 acquisitions, includes $12.1 million of in-place lease intangibles and $4.1 million of above-market tenant lease intangibles with a weighted average amortization period of 5.5 years and 11.9 years, respectively.


(4)	Includes other working capital assets acquired and liabilities assumed, respectively, at the time of acquisition.


(5)	For 2015 acquisitions, represents below-market tenant lease intangibles with a weighted average amortization period of 5.9 years.

The following table summarizes the results of operations for each of the properties acquired during the year ended December 31, 2015, included in the consolidated statements of operations from the date of acquisition (in thousands):



	Year Ended December 31, 2015
Revenues	$	8,130
Net Income	$	2,219

The following table sets forth unaudited pro-forma financial information (in thousands) as if the closing of our 2015 acquisitions had occurred on January 1, 2014. These unaudited pro-forma results have been prepared for comparative purposes only and include certain adjustments, such as increased depreciation and amortization expenses as a result of tangible and intangible assets acquired in the acquisitions, and increased interest expense for borrowings associated with these acquisitions. These unaudited pro-forma results do not purport to be indicative of what operating results would have been had the acquisitions actually occurred on January 1, 2014 and may not be indicative of future operating results.



	Year Ended December 31,
	2015		2014
Revenues	$	106,618	$	87,485
Net operating income	$	76,872	$	61,778
Net income	$	7,307	$	5,779
Net income available to common stockholders per share - basic and diluted	$	0.13	$	0.16

Acquired Lease Intangibles

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

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 as follows (in thousands):



	December 31,
	2015		2014
Acquired Lease Intangible Assets:
In-place lease intangibles	49,265		37,467
Accumulated amortization	(25,107	)	(12,975	)
In-place lease intangibles, net	24,158		24,492

Above-market tenant leases	9,062		4,971
Accumulated amortization	(2,837	)	(1,327	)
Above-market tenant leases, net	6,225		3,644
Acquired lease intangible assets, net	30,383		28,136

Acquired Lease Intangible Liabilities:
Below-market tenant leases	(5,227	)	(3,514	)
Accumulated accretion	2,053		743
Below-market tenant leases, net	(3,174	)	(2,771	)

Below-market ground lease	(290	)	(290	)
Accumulated accretion	77		45
Below-market ground lease, net	(213	)	(245	)
Acquired lease intangible liabilities, net	(3,387	)	(3,016	)

The following table summarizes the amortization related to our acquired lease intangible assets and liabilities for the reported periods noted below (in thousands):



	Rexford Industrial Realty, Inc.									Rexford Industrial Realty, Inc. Predecessor
	Year Ended December 31, 2015			Year Ended December 31, 2014			Period from July 24, 2013 to December 31, 2013			Period from January 1, 2013 to July 23, 2013
In-place lease intangibles⁽¹⁾	$	12,445		$	9,275		$	3,020		$	1,238
Net above (below) market tenant leases⁽²⁾	$	234		$	452		$	198		$	239
Above-market ground lease⁽³⁾	$	(32	)	$	(32	)	$	(13	)	$	—


(1)	The amortization of in-place lease intangibles is recorded to depreciation and amortization expense in the consolidated and combined statements of operations for the periods presented.


(2)	The amortization of above (below) market tenant leases is recorded as a decrease (increase) to rental revenues in the consolidated and combined 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 and combined statements of operations for the periods presented.

The following table summarizes the estimated amortization/(accretion) of our acquisition-related intangibles as of December 31, 2015 for the next five years (in thousands):



Year Ending	In-place Leases⁽¹⁾		Net Above/(Below) Market Operating Leases⁽²⁾		Above Market Ground Lease⁽³⁾
2016	$	9,823	$	163	$	(32	)
2017	5,768		379		(32		)
2018	3,620		321		(32		)
2019	2,467		380		(32		)
2020	1,182		243		(32		)
Thereafter	1,298		1,565		(53		)
Total	$	24,158	$	3,051	$	(213	)


(1)	Estimated amounts of amortization will be recorded to depreciation and amortization expense in the consolidated statements of operation.


(2)	Estimated amounts of amortization will be recorded as a net decrease to rental revenues in the consolidated statements of operations.


(3)	Estimated amounts of accretion will be recorded as a decrease to property expenses in the consolidated statements of operations.

Notes Receivable

12 Months Ended

Dec. 31, 2015

Receivables [Abstract]

Notes Receivable

At December 31, 2014, we had one mortgage note receivable, which was secured by an industrial property located at 32401-32803 Calle Perfecto in San Juan Capistrano, California (the “Calle Perfecto Note”). The Calle Perfecto Note was a 30-year amortizing loan, bearing interest at a fixed rate of 6.001%, with a maturity date of May 1, 2017.

On August 21, 2015, the mortgage note borrower of the Calle Perfecto Note repaid, ahead of schedule, the outstanding principal balance in full. We received gross proceeds from this payoff of approximately $13.8 million, including $43 thousand in per diem interest, and recognized a gain from early repayment of note receivable of $0.6 million.

On February 8, 2013, our Predecessor received gross proceeds of $5.4 million from the early repayment of another mortgage note receivable. Our Predecessor recognized a gain from early repayment of note receivable of $1.4 million during the period from January 1, 2013 to July 23, 2013.

The following table summarizes the balance of our notes receivable (in thousands):



	December 31,
	2015		2014
Face Amount	$	—	$	13,896
Unrecognized Accretable Yield	—		(759		)
Note Receivable	$	—	$	13,137

Notes Payable

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Notes Payable

The following table summarizes the balance of our indebtedness as of December 31, 2015 and 2014 (in thousands):



	December 31, 2015			December 31, 2014
Principal amount	$	418,698		$	357,076
Less: unamortized discount and deferred loan costs⁽¹⁾	(544		)	(714		)
Carrying value	$	418,154		$	356,362

(1) Unamortized discount and deferred loan costs exclude net debt issuance costs related to establishing our unsecured credit facility. These costs are presented in the line item “Deferred loan costs, net” in the consolidated balance sheets. See the discussion of the adoption of ASU 2015-03 in Note 2.

The following table summarizes the components and significant terms of our indebtedness as of December 31, 2015 and 2014 (dollars in thousands):



	December 31, 2015					December 31, 2014
	Principal Amount		Unamortized Discount and Deferred Loan Costs			Principal Amount		Unamortized Discount and Deferred Loan Costs			Contractual Maturity Date		Stated Interest Rate⁽¹⁾			Effective Interest Rate⁽²⁾
Secured Debt
Term Loan⁽³⁾	$	60,000	$	(283	)	$	60,000	$	(362	)	8/1/2019	⁽⁴⁾	LIBOR+1.90%			3.95	%
Term Loan⁽⁵⁾	—		—			48,500		(330		)	6/24/2017		--			--
Glendale Commerce Center	—		—			42,750		—			5/1/2016		--			--
Gilbert/La Palma	3,044		(153		)	3,173		(161		)	3/1/2031		5.125	%	⁽⁶⁾	5.37	%
2980 San Fernando	—		—			10,153		139			7/1/2015		--			--
12907 Imperial Highway	5,299		303			—		—			4/1/2018		5.950	%	⁽⁷⁾	3.71	%
1065 Walnut Street	9,855		292			—		—			2/1/2019	⁽⁸⁾	4.550	%	⁽⁹⁾	3.54	%
Unsecured Debt
Term Loan Facility	100,000		—			100,000		—			6/11/2019		LIBOR+1.25%		⁽¹⁰⁾	2.36	%	⁽¹¹⁾
Revolving Credit Facility	140,500		—			92,500		—			6/11/2018	⁽⁴⁾	LIBOR+1.30%		^(10)(12)	1.73	%
Guaranteed Senior Notes	100,000		(703		)	—		—			8/6/2025		4.290	%		4.36	%
Total	$	418,698	$	(544	)	$	357,076	$	(714	)


⁽¹⁾	Reflects the contractual interest rate under the terms of the loan as of December 31, 2015.


⁽²⁾	Reflects the effective interest rate at December 31, 2015, which includes the effect of the amortization of discounts/premiums and deferred loan costs, and includes the effect of interest rate swaps that were effective as of December 31, 2015.


⁽³⁾	Loan is secured by six properties. As of December 31, 2015, the interest rate of this $60 million variable-rate term loan has been effectively fixed through the use of two interest rate swaps. See Note 8 for details.


⁽⁴⁾	One additional one-year extension available at the borrower’s option.


⁽⁵⁾	Loan was secured by eight properties.


⁽⁶⁾	Monthly payments of interest and principal based on 20-year amortization table.


⁽⁷⁾	Monthly payments of interest and principal based on 30-year amortization table, with a balloon payment at maturity.


⁽⁸⁾	One additional five-year extension available at the borrower’s option.


⁽⁹⁾	Monthly payments of interest and principal based on 25-year amortization table, with a balloon payment at maturity.


⁽¹⁰⁾	The LIBOR margin will range from 1.25% to 1.85% for the term loan facility and 1.30% to 1.90% for the revolving credit facility depending on the ratio of our outstanding consolidated indebtedness to the value of our consolidated gross asset value, which is measured on a quarterly basis.


⁽¹¹⁾	As of December 31, 2015, interest on $50 million of this $100 million term loan has been effectively fixed through the use of an interest rate swap. See Note 8 for details.


⁽¹²⁾	The facility additionally bears interest at 0.30% or 0.20% of the daily undrawn amount of the unsecured revolving credit facility if the balance is under $100 million or over $100 million, respectively.

On January 21, 2015, in connection with the acquisition of the property located at 12907 Imperial Highway, we assumed a mortgage loan that is secured by the acquired property. The assumed mortgage loan had a principal balance of $5.4 million at the acquisition date and was recorded at fair value at the date of acquisition, resulting in an initial debt premium of $0.5 million. The loan, which was put in place in 2008 by the seller, bears interest at a fixed rate of 5.95% with amortization over 30 years and has a maturity date of April 1, 2018. We may prepay the loan in full during the 90 day period prior to the maturity date with without incurring prepayment penalties.

On April 1, 2015, we repaid the $10.1 million outstanding balance on our loan secured by the property located at 2980-2990 North San Fernando Road. We repaid the balance using available cash on hand and did not incur any prepayment penalties for repaying in advance of the maturity date of July 1, 2015. We previously assumed the loan on May 30, 2014, in connection with the acquisition of the related property. At the acquisition date, the assumed mortgage had a principal balance of $10.3 million and was recorded at fair value, resulting in an initial debt premium of $0.3 million. The loan, which was put in place in 2005 by the seller, bore interest at a fixed rate of 5.088% with amortization over 30 years.

On July 16, 2015, we entered into a Note Purchase and Guarantee Agreement (the “NPGA”) for the private placement of $100.0 million of guaranteed senior notes, maturing on August 6, 2025, with a fixed annual interest rate of 4.29% (the “Notes”). On August 6, 2015, we completed the issuance of the Notes. Interest is payable semiannually on February 6 and August 6 of each year, beginning on February 6, 2016. We may prepay at any time all or, from time to time, any part of the Notes, in amounts not less than $2.5 million of the Notes then outstanding at (i) 100% of the principal amount so prepaid and (ii) the Make-Whole Amount (as defined in the NPGA).

On August 6, 2015, we used a portion of the funds raised from the issuance of the Notes to terminate and pay in full the $42.75 million principal outstanding under the term loan secured by our property known as the Glendale Commerce Center. We did not incur any prepayment penalties for repaying in advance of the maturity date of May 1, 2016.

On August 6, 2015, we used a portion of the funds raised from the issuance of the Notes to terminate and pay in full the $48.5 million term loan secured by the first priority deed of trust on eight of our properties. We initially obtained this loan on June 24, 2014, to partially fund the acquisition of a portfolio of nine properties. We did not incur any prepayment penalties for repaying in advance of the maturity date of June 24, 2017.

On December 11, 2015, in connection with the acquisition of the property located at 1065 Walnut Street, we assumed a $10.9 million mortgage loan that is secured by the acquired property. At closing, we prepaid approximately $1.1 million of the loan balance using the reserves of the loan’s capital and tenant improvement escrow accounts. We recorded the loan at fair value at the date of acquisition resulting in an initial debt premium of $0.3 million. The loan, which was put in place in 2014 by the seller, bears interest at a fixed rate of 4.55% with amortization over 25 years and has an initial maturity date of February 1, 2019. We may prepay the loan in whole at any time on or after November 1, 2018 through the initial maturity date without incurring prepayment penalties, subject to certain notice requirements.

On October 1, 2014, we repaid the $5.0 million outstanding balance on the note secured by our property located at 10700 Jersey Boulevard. We repaid the note using available cash on hand and did not incur any prepayment penalties for repaying in advance of the maturity date of January 1, 2015.

The following table summarizes the contractual debt maturities and scheduled amortization payments, excluding debt discounts/premiums and deferred loan costs, as of December 31, 2015 and does not consider extension options available to us as noted above. The minimum future principal payments due on our notes payable as of December 31, 2015 were as follows (in thousands):



2016	$	396
2017	430
2018	145,880
2019	169,533
2020	166
Thereafter	102,293
Total	$	418,698

Unsecured Credit Facility

On June 11, 2014, we amended our existing revolving credit facility by entering into an Amended and Restated Credit Agreement (the “Credit Facility”). The Credit Facility, among other matters, adds a senior unsecured term loan facility (the “Term Loan Facility”) with a borrowing capacity of $100.0 million to the existing senior unsecured revolving credit facility (the “Revolver”) with a borrowing capacity of $200.0 million. The maturity date of the Revolver was extended to June 11, 2018 (previously July 24, 2016), with one 12-month extension option available, subject to certain conditions, and the Term Loan Facility has a maturity date of June 11, 2019. The aggregate principal amount of the Credit Facility may be increased to a total of up to $600.0 million, which may be comprised of additional revolving commitments under the Revolver or an increase to the Term Loan Facility, or any combination of the foregoing, subject to the satisfaction of specified conditions and the identification of lenders willing to make available such additional amounts.

Interest on the Credit Facility is generally to be paid based upon, at our option, either (i) LIBOR plus the applicable LIBOR margin or (ii) the applicable base rate which is the greater of (a) the federal funds rate plus 0.50%, (b) the administrative agent’s prime rate or (c) the thirty-day LIBOR plus 1.00%, plus the applicable base rate margin. Until we attain an investment grade rating by two or more of Standard & Poor’s (“S&P”), Moody’s Investor Services (“Moody’s”) and Fitch Ratings (“Fitch”), the applicable LIBOR margin will range from 1.30% to 1.90% (previously 1.35% to 2.05%), for the Revolver and 1.25% to 1.85% for the Term Loan Facility, depending on our Leverage Ratio (as defined in the credit agreement). In February 2015, the Revolver and the Term Loan Facility were assigned an investment grade rating of BBB- by Fitch Ratings. Additionally, there is a quarterly facility fee that is paid on the undrawn portion of the Revolver in an amount equal to 0.20% or 0.30% depending on the undrawn amount of the Revolver.

The Credit Facility is guaranteed by the Company and by substantially all of the current and future 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 Term Loan Facility may be voluntarily prepaid in whole or in part at any time without premium or penalty. Amounts borrowed under the Term Loan Facility and repaid or prepaid may not be re-borrowed.

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, 2015 we had borrowings of $140.5 million outstanding under our Revolver, leaving $59.5 million available for additional borrowings.

Debt Covenants

The Credit Facility, as amended, includes a series of financial and other covenants that we must comply with in order to borrow under the Credit Facility. These include 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%;


•	Maintaining a ratio of secured debt to total asset value of not more than 45%;


•	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) $283,622,250, and (ii) an amount equal to at least 75% of the net equity proceeds received by the Company after March 31, 2014;


•	Maintaining a ratio of adjusted EBITDA 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%;


•	Maintaining a ratio of unencumbered NOI to unsecured interest expense of at least 1.75 to 1.0.

Additionally, the Credit Facility provides 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.

The NPGA contains a series of financial and other covenants with which we must comply. The financial covenants, which are tested on a quarterly basis, are the same as those that we must comply with under the Credit Facility, as detailed above. In addition, we are required to maintain at all times a credit rating on the Notes from either S&P, Moody’s or Fitch. At issuance, the Notes were assigned an investment grade rating of BBB- by Fitch. Subject to the terms of the NPGA and the Notes, upon certain events of default, including, but not limited to, (i) a default in the payment of any principal, Make-Whole Amount, or interest under the 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 NPGA, and (iv) bankruptcy and other insolvency defaults, the principal and accrued and unpaid interest and the Make-Whole Amount on the outstanding Notes will become due and payable at the option of the purchasers.

Our $60.0 million term loan contains the following financial covenants:


•	Maintaining a Debt Service Coverage Ratio (as defined in the tern 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, 2015.

Operating Leases

12 Months Ended

Dec. 31, 2015

Leases, Operating [Abstract]

Operating Leases

We lease space to tenants primarily under non-cancelable operating leases that generally contain provisions for a base rent plus reimbursement for certain operating expenses. Operating expense reimbursements are reflected in the consolidated and combined statements of operations as tenant reimbursements.

Future minimum base rent under operating leases as of December 31, 2015 is summarized as follows (in thousands):



For the year ending December 31:
2016	$	81,905
2017	62,110
2018	45,714
2019	34,964
2020	24,751
Thereafter	60,487
Total	$	309,931

The future minimum base rent in the table above excludes tenant reimbursements, amortization of adjustments for deferred rent receivables and the amortization of above/below-market lease intangibles.

Interest Rate Contracts

12 Months Ended

Dec. 31, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Interest Rate Contracts

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 accounting for changes in fair value (i.e., gains or losses) of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship and further, on the type of hedging relationship. Derivatives that are not designated as hedges must be adjusted to fair value through earnings. The effective portion of 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 into earnings in the period that the hedged forecasted transaction affects earnings. The ineffective portion of the change in fair value of the derivatives is immediately recognized in earnings.

On February 4, 2014, we executed two forward-starting interest rate swap transactions to hedge the variable cash flows associated with our $60.0 million variable-rate term loan. We are required to make certain monthly fixed rate payments calculated on notional amounts of $30.0 million for each of the swaps, while the applicable counterparty is obligated to make certain monthly floating rate payments based on LIBOR to us referencing the same notional amount. The first forward swap, which is effective for the period from January 15, 2015 to February 15, 2019, currently fixes the annual interest rate payable on $30.0 million of debt at 3.726%. The second forward swap, which is effective for the period from July 15, 2015 to February 15, 2019, currently fixes the annual interest rate payable on the other $30.0 million of debt at 3.910%.

On August 19, 2014, we executed two forward-starting interest rate swap transactions to hedge the variable cash flows associated with our $100.0 million Term Loan Facility. We are required to make certain monthly fixed rate payments calculated on notional amounts of $50.0 million for each of the swaps, while the applicable counterparty is obligated to make certain monthly floating rate payments based on LIBOR to us referencing the same notional amount. The first swap is effective for the period from August 14, 2015 to December 14, 2018 and currently fixes the annual interest rate payable on our Term Loan Facility at 1.790%, plus an applicable margin under the terms of our Credit Facility. The second swap has an effective date of February 16, 2016 and a maturity date of December 14, 2018. The second interest rate swap will effectively fix the annual interest rate payable on our Term Loan Facility at 2.005%, plus an applicable margin under the terms of the Credit Facility.

Prior to our IPO, our Predecessor was party to an interest rate swap that was not designated as a hedge, and as such, the changes in its fair value were recognized in earnings. This interest rate swap reached its natural termination on March 15, 2013. As of December 31, 2015 and 2014, we do not have any derivatives that are not designated as hedges.

The following table sets forth a summary of our interest rate swaps at December 31, 2015 and 2014 (dollars in thousands):



					Fair Value⁽¹⁾				Current Notional Amount⁽²⁾
Derivative Instrument	Effective Date	Maturity Date	Interest Strike Rate		December 31, 2015		December 31, 2014		December 31, 2015		December 31, 2014
Liabilities:
Interest Rate Swap	1/15/2015	2/15/2019	1.826	%	$	538	$	457	$	30,000	$	—
Interest Rate Swap	7/15/2015	2/15/2019	2.010	%	$	698	$	408	$	30,000	$	—
Interest Rate Swap	8/14/2015	12/14/2018	1.790	%	$	849	$	277	$	50,000	$	—
Interest Rate Swap	2/16/2016	12/14/2018	2.005	%	$	1,059	$	260	$	—	$	—

(1)

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. As of December 31, 2015 and December 31, 2014, all of our derivatives were in a liability position, and as such, the fair value is included in the line item “Interest rate swap liability” in the Consolidated Balance Sheets.


(2)	Represents the notional amount of swaps that are effective as of the balance sheet date noted.

The following table sets forth the impact of our interest rate swaps on our consolidated and combined statements of operations for the periods presented (in thousands):



	Rexford Industrial Realty, Inc.								Rexford Industrial Realty, Inc. Predecessor
	Year Ended December 31, 2015			Year Ended December 31, 2014			Period From July 24, 2013 to December 31, 2013		Period From January 1, 2013 to July 23, 2013
Interest Rate Swaps in Cash Flow Hedging Relationships:
Amount of gain (loss) recognized in AOCI on derivatives (effective portion)	$	(2,781	)	$	(1,402	)	$	—	$	—
Amount of gain (loss) reclassified from AOCI into earnings under “Interest expense” (effective portion)	$	(1,039	)	$	—		$	—	$	—
Amount of gain (loss) recognized in earnings under “Interest expense” (ineffective portion and amount excluded from effectiveness testing)	$	—		$	—		$	—	$	—
Interest Rate Swaps Not in Cash Flow Hedging Relationships:
Amount of realized and unrealized gain recognized in earnings under “Gain on mark-to-market of interest rate swaps”	$	—		$	—		$	—	$	49

Amounts reported in AOCI related to derivatives will be reclassified to interest expense as interest payments and accruals are made on our variable-rate debt. During the next twelve months, we estimate that an additional $1.9 million will be reclassified 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.

As of December 31, 2015, the fair value of derivatives in a net liability position, which excludes any adjustment for nonperformance risk, related to these agreements was $3.2 million. As of December 31, 2015, we have not posted any collateral related to these agreements.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

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+ Details

Fair Value Measurements

12 Months Ended

Dec. 31, 2015

Fair Value Disclosures [Abstract]

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, 2015, 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, 2015 and 2014, which we measure on a recurring basis by level within the fair value hierarchy (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)
Interest Rate Swaps at:
December 31, 2015	$	(3,144	)	$	—	$	(3,144	)	$	—
December 31, 2014	$	(1,402	)	$	—	$	(1,402	)	$	—

Financial Instruments Disclosed at Fair Value

The carrying amounts of cash and cash equivalents, restricted cash, 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 currently available market rates, adjusted with a credit spread, and assuming the loans are outstanding through the contractual maturity date.

The table below sets forth the carrying value and the estimated fair value of our notes payable as of December 31, 2015 and 2014 (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, 2015	$	416,497	$	—	$	—	$	416,497	$	418,154
December 31, 2014	$	357,212	$	—	$	—	$	357,212	$	356,362

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2015
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 and development fees and leasing commissions from entities controlled individually by Mr. Schwimmer. These transactions are conducted on terms equivalent to those prevailing in arm's-length transactions. Fees and commissions earned from these entities are included in “Management, leasing and development services” in the consolidated and combined statements of operations. We recorded $0.2 million, $0.2 million, $0.1 million and $0.1 million for the years ended December 31, 2015 and 2014, the period from July 24, 2013 to December 31, 2013 and the period from January 1, 2013 to July 23, 2013, respectively, in management, leasing and development services revenue.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

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. Excluding ordinary routine litigation incidental to our 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.

During the second quarter of 2015, the Company entered into a settlement agreement with respect to previously-disclosed litigation involving certain of its pre-IPO investors. The aggregate amount paid by the Company in this settlement was not material. Pursuant to the settlement agreement, the case was dismissed with prejudice on June 8, 2015.

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 estimable, 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 with 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, 2015 and 2014, we have a $1.2 million contingent liability 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, 2015 and 2014, we also have a $1.2 million corresponding indemnification asset recorded in our consolidated balance sheets included 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 assure you 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.

Rent Expense

As of December 31, 2015, we lease a parcel of land that is currently being sub-leased to a tenant for a parking lot. The ground lease is scheduled to expire on June 1, 2062.

The future minimum commitment under our ground lease and corporate office lease as of December 31, 2015 is as follows (in thousands):



For the year ending December 31:	Office Lease		Ground Rent
2016	$	520	$	144
2017	543		144
2018	559		144
2019	337		144
2020	—		144
Thereafter	—		5,964
Total	$	1,959	$	6,684

Tenant Related

As of December 31, 2015, we had commitments of approximately $5.4 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 thousand per institution. Although we have deposits at institutions in excess of federally insured limits as of December 31, 2015, 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, 2015, 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.

As of December 31, 2015, our 10 largest tenants represented approximately 14.6% of our annualized base rent, and no single tenant accounted for more than 2.2% of our annualized base rent. Annualized base rent is based on the monthly contracted base rent from leases in effect as of December 31, 2015, multiplied by 12, excluding billboard and antenna revenue and rent abatements. During the year ended December, 2015, no single tenant accounted for more than 10% of our rental revenues.

Investment in Unconsolidated Real Estate

12 Months Ended

Dec. 31, 2015

Schedule of Investments [Abstract]

Investment in Unconsolidated Real Estate

Investments in Unconsolidated Real Estate

Our Predecessor owned interests in two industrial properties through noncontrolling interests as follows: (i) a 70% interest, as tenants-in-common subject to common control, in a property located at 10439-10477 Roselle Street in San Diego and (ii) a 15% equity interest in a joint venture (the “JV”) we manage, that owned three properties located at 3001, 3175 and 3233 Mission Oaks Boulevard in Ventura County. Both of these investments are accounted for under the equity method of accounting.

As part of our formation transactions, on July 24, 2013, the following transactions occurred: (i) we acquired the 30% tenancy-in-common interest of the property located at 10439-10477 Roselle Street not previously owned by us in exchange for 2,828 common units in our Operating Partnership, and (ii) our 15% joint venture interest in the properties located at 3001, 3175 and 3233 Mission Oaks Boulevard was contributed to the Operating Partnership. As a result of the contribution, the carrying value of our investment was recorded at the estimated fair value on the date of contribution, which resulted in a $2.8 million basis adjustment, which is being amortized over the estimated useful life of the underlying assets.

On November 17, 2014, the JV sold the properties located at 3001 and 3175 for a contract price of $54.5 million. As part of the disposition, the JV repaid the $41.5 million outstanding balance on the loan secured by the three properties. In connection with the sale of the properties, the JV recognized a gain of $13.4 million. Our pro rata share of the net proceeds of the sale following loan satisfaction and payment of customary closing expenses was approximately $1.7 million.

The following tables present combined summarized financial information of our unconsolidated real estate properties. Amounts provided are the total amounts attributable to the entities and do not represent our proportionate share, unless otherwise noted (in thousands).



	December 31,
	2015			2014
Assets	$	24,280		$	23,542
Liabilities	(1,250		)	(1,274		)
Partners’/members’ equity	$	23,030		$	22,268
Company’s share of equity	$	3,455		$	3,340
Basis adjustment⁽¹⁾	632			678
Carrying value of the Company’s investment in unconsolidated real estate	$	4,087		$	4,018


(1)	This amount represents the difference between our historical cost basis and the basis reflected at the joint venture level, resulting from the contribution of our equity interest as part of our formation transactions that occurred on July 24, 2013.



	December 31, 2015⁽¹⁾			December 31, 2014⁽¹⁾			Period from July 24, 2013 to December 31, 2013⁽¹⁾		Period from January 1, 2013 to July 23, 2013⁽²⁾
Revenues	$	2,673		$	7,018		$	1,440	$	6,516
Expenses	(1,911		)	(6,526		)	226		(7,296		)
Gain on sale of properties	—			13,389			—		—
Net income (loss)	$	762		$	13,881		$	1,666	$	(780	)


(1)	Includes summarized financial information for our equity method investment properties located at 3001-3233 Mission Oaks Boulevard.


(2)	Includes summarized financial information for properties located at 3001-3233 Mission Oaks Boulevard and 10439-10477 Roselle Street.

Fees and commissions earned from managing the JV are included in "Management, leasing and development services" in the consolidated and combined statements of operations. We recognized $0.2 million, $0.4 million, $0.3 million and $0.2 million for the years ended December 31, 2015 and 2014, the period from July 24, 2013 to December 31, 2013 and the period from January 1, 2013 to July 23, 2013, respectively, in management, leasing and development services revenue.

Dispositions and Discontinued Operations

12 Months Ended

Dec. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Dispositions and Discontinued Operations

Dispositions

We did not have any dispositions during the year ended December 31, 2015. The table below summarizes the properties sold during the years ended December 31, 2014, and 2013 (dollars in thousands).



Address	Location	Date of Disposition	Rentable Square Feet	Sales Price		Debt Satisfied⁽¹⁾		Gain (Loss) Recorded
2014 Dispositions:
1335 Park Center Drive⁽²⁾	Vista, CA	1/29/2014	124,997	$	10,103	$	—	$	2,262
2900 N. Madera Road⁽²⁾	Simi Valley, CA	3/13/2014	63,305	$	4,350	$	—	$	(137	)
500-560 Zenith Drive⁽³⁾	Glenview, IL	8/29/2014	37,992	$	1,822	$	—	$	(150	)
2013 Dispositions:
4578 Worth Street⁽²⁾	Los Angeles, CA	1/31/2013	79,370	$	4,100	$	2,500	$	2,410
1950 E. Williams Drive⁽²⁾	Oxnard, CA	4/4/2013	161,682	$	8,542	$	2,993	$	415
9027 Glenoaks Boulevard⁽²⁾	Los Angeles, CA	5/10/2013	14,700	$	1,727	$	1,625	$	234
2515, 2507, 2441 W. Erie Dr. & 2929 S. Fair Lane⁽²⁾	Tempe, AZ	5/28/2013	83,385	$	5,003	$	3,531	$	1,015
1255 Knollwood Circle⁽²⁾	Anaheim, CA	6/14/2013	25,162	$	2,768	$	2,630	$	915


(1)	Amount represents the principal paid back to the lender to release the property from a larger pool of properties serving as collateral for the respective portfolio loan.


(2)	The results of operations and the gain or loss on sale of this property is reported under Discontinued Operations in the Consolidated and Combined Statements of Operations.


(3)	The results of operations and the loss on sale of this property are reported as part of Net loss from continuing operations in the Consolidated and Combined Statements of Operations.

Discontinued Operations

Income from discontinued operations includes the results of operations (prior to disposition) and the gain on sale of real estate attributable to seven of the eight properties listed in the table above (all properties except 500-560 Zenith Drive). Their consolidated results of operations for the years ended December 31, 2015 and 2014 and the period from July 24, 2013 to December 31, 2013, and combined results of operations for the period from January 1, 2013 to July 23, 2013, are summarized in the table below (in thousands).



	Rexford Industrial Realty, Inc.								Rexford Industrial Realty, Inc. Predecessor
	Year Ended December 31, 2015		Year Ended December 31, 2014			Period from July 24, 2013 to December 31, 2013			Period from January 1, 2013 to July 23, 2013
Revenues	$	—	$	85		$	472		$	604
Operating expenses	—		(57		)	(89		)	(312		)
Interest expense	—		—			—			(325		)
Depreciation and amortization expense	—		(7		)	(92		)	(776		)
Loss on extinguishment of debt	—		—			—			(267		)
Gain on sale of real estate	—		2,125			—			4,989
Income from discontinued operations	$	—	$	2,146		$	291		$	3,913

- Definition

The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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+ Details

Stockholder's Equity

12 Months Ended

Dec. 31, 2015

Equity [Abstract]

Stockholder's Equity

Stockholders’ Equity

Common Stock

On February 3, 2015, we completed a public follow-on offering of 11,500,000 shares of our common stock at a public offering price of $16.00 per share. The net proceeds of the follow-on offering were $176.2 million, after deducting the underwriting discount and offering costs paid aggregating $7.8 million. On February 3, 2015, we contributed the net proceeds of the offering to our Operating Partnership in exchange for 11,500,000 common units of partnership interests in the Operating Partnership (“OP Units”).

On August 19, 2014, we completed a public follow-on offering of 17,250,000 shares of our common stock at a price of $13.50 per share. The net proceeds of the follow-on offering were approximately $221.8 million, after deducting the underwriters’ discount and offering costs of approximately $11.1 million. On August 19, 2014, we contributed the net proceeds of the offering to our Operating Partnership in exchange for 17,250,000 OP Units.

During 2013, we issued 16,451,972 shares of common stock in conjunction with the IPO, resulting in net proceeds of approximately $206.1 million after deducting the underwriters’ discount and offering costs. As part of our concurrent private placement, we issued a total of 3,358,311 shares in exchange for gross proceeds of $47.0 million. Additionally, in conjunction with the formation transactions, we issued 3,697,086 OP Units and 4,947,558 shares of our common stock.

ATM Program

On April 17, 2015, we established an at-the-market equity offering program (the “ATM Program”) through which we may sell from time to time up to an aggregate of $125 million of our common stock through sales agents. In connection with the ATM program we have incurred offering costs of $0.4 million. As of December 31, 2015, we have issued 500 shares of common stock under the ATM Program. 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 in our Operating Partnership relate to interests in the partnership that are not owned by us. Noncontrolling interests consisted of 2,026,642 OP Units and represented approximately 3.5% of our Operating Partnership as of December 31, 2015. 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.

During the year ended December 31, 2015, we redeemed 8,468 OP Units for approximately $0.1 million at a price of $16.07 per unit. During the years ended December 31, 2015 and 2014, we acquired 288,234 and 685,915 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 $3.2 million and $7.8 million, respectively, from noncontrolling interests to Rexford Industrial Realty, Inc.’s stockholder equity.

The Accommodation

After the completion of our IPO, certain investors in our predecessor business (“pre-IPO investors”) contacted Messrs. Schwimmer, Frankel and Ziman to express concerns regarding our formation transactions and IPO. These concerns related to, among other things, the total value of the consideration paid to the pre-IPO investors and to management in the formation transactions, the allocation of that consideration among the five funds included in our predecessor business, or the Predecessor Funds, and the pre-IPO management companies (the “Management Companies”), and the total value of the Operating Partnership units and shares of common stock, including awards of restricted stock, received by Messrs. Schwimmer, Frankel and Ziman in conjunction with the formation transactions and the IPO.

We believe that the formation transactions and the IPO were conducted and valued properly and consistently with applicable law and with the disclosure documents and contribution and merger agreements. We also believe that the documents and disclosures set forth all information necessary for the pre-IPO investors to determine whether to approve the formation transactions. Pre-IPO investors representing more than 98% of the capital in each of the Predecessor Funds approved the formation transactions. In addition, such pre-IPO investors explicitly waived claims relating to the Predecessor Funds and the formation transactions.

Nevertheless, with the support of our board of directors, Messrs. Schwimmer, Frankel and Ziman undertook to review the concerns expressed by these pre-IPO investors and to assess whether they could address any of the concerns in their individual capacities. In undertaking this review, Messrs. Schwimmer, Frankel and Ziman and our board of directors considered a variety of factors, including that, as a newly public company, claims advanced by pre-IPO investors, whether in formal legal proceedings or otherwise, regardless of their merit, could adversely affect the Company’s business and operations, the Company’s ability to access the capital markets or the trading prices of the Company’s common stock.

After numerous discussions with pre-IPO investors from all five Predecessor Funds, Messrs. Schwimmer, Frankel and Ziman, with the support of our board of directors, undertook to offer an accommodation (the “Accommodation”) in which Messrs. Schwimmer, Frankel and Ziman, together with certain other pre-IPO owners of the Management Companies, would return up to $32.1 million that they received in connection with our IPO and formation transactions. The Accommodation would effectively reallocate up to $21.1 million in Operating Partnership units to pre-IPO investors who elected to participate in the Accommodation by signing transfer agreements containing a release of claims relating to their investment in the Predecessor Funds (“Transfer and Release Agreements”). This $21.1 million represents the aggregate value allocated to the Management Companies in the formation transactions. As part of the Accommodation, Messrs. Schwimmer, Frankel and Ziman also would forfeit a percentage of their restricted stock grant (valued at $11.0 million) equal to the portion of the aggregate capital commitments in the Predecessor Funds represented by investors participating in the Accommodation. The effectiveness of the Accommodation was subject to pre-IPO investors representing at least 67.7% of the aggregate capital commitments in each of the Predecessor Funds agreeing to participate in the Accommodation by signing Transfer and Release Agreements.

The Company and Messrs. Schwimmer, Frankel and Ziman, with the agreement of our board of directors, formally communicated the proposed Accommodation to pre-IPO investors in early October 2013. The Accommodation became effective on October 28, 2013. The pre-IPO investors were provided a reply-by date of October 30, 2013 to elect whether to participate in the Accommodation. The Board elected, effective October 29, 2013, to extend that reply-by date to November 30, 2013. There was no further extension of the reply-by date. As of December 31, 2013, the Accommodation has ended, and 97.9% of the pre-IPO investors, who collectively represent 98.5% of the aggregate capital commitments in the Predecessor Funds, participated in the Accommodation by signing Transfer and Release Agreements.

To effect the Accommodation, Messrs. Schwimmer, Frankel, Ziman and certain other pre-IPO owners of the Management Companies returned Operating Partnership units to the Company. The Company subsequently canceled such Operating Partnership units. The Company and the Operating Partnership then issued and paid to participating pre-IPO investors a number of shares of common stock, Operating Partnership units and cash that, in the aggregate, had the same value as the Operating Partnership units returned to the Company by Messrs. Schwimmer, Frankel, Ziman and the other pre-IPO owners of the Management Companies. The form of consideration received by pre-IPO investors corresponded to the form of consideration such investors elected to receive in the formation transactions, with unaccredited investors receiving cash. For purposes of the Accommodation, shares of common stock and Operating Partnership units were valued at $14.00, which was the IPO price per share of the Company’s common stock.

Changes in Accumulated Other Comprehensive Loss

The following table summarizes the changes in our accumulated other comprehensive loss balance for the years ended December 31, 2015 and 2014, which consists solely of adjustments related to our cash flow hedges:



	2015			2014
Accumulated other comprehensive loss - beginning balance	$	(1,331	)	$	—
Other comprehensive loss before reclassifications	(2,781		)	(1,402		)
Amounts reclassified from accumulated other comprehensive loss to interest expense	1,039			—
Net current period other comprehensive loss	(1,742		)	(1,402		)
Less other comprehensive loss attributable to noncontrolling interests	40			71
Other comprehensive loss attributable to common stockholders	(1,702		)	(1,331		)
Accumulated other comprehensive loss - ending balance	$	(3,033	)	$	(1,331	)

Dividends

Earnings and profits, which determine the taxability of distributions 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 unaudited table summarizes the federal income tax treatment for all distributions for the years ended December 31, 2015 and 2014 and the period from July 24, 2013 to December 31, 2013.



	Year Ended December 31, 2015				Year Ended December 31, 2014					Period From July 24, 2013 to December 31, 2013
Ordinary Income	$	0.4789478	93.91	%	$	0.4607500		92.15	%	$	0.1900000	100.00	%
Return of Capital	—		—	%	—			—	%	—		—	%
Capital Gain	0.0310522		6.09	%	0.0392500		⁽¹⁾	7.85	%	—		—	%
Total	$	0.5100000	100.00	%	$	0.5000000		100.00	%	$	0.1900000	100.00	%

(1)19.0% of the capital gain is comprised of an unrecaptured Section 1250 gain.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Incentive Award Plan

12 Months Ended

Dec. 31, 2015

Equity [Abstract]

Incentive Award Plan

In July 2013, our board of directors adopted the Rexford Industrial Realty, Inc. and Rexford Industrial Realty, L.P. 2013 Incentive Award Plan (the “Plan”). The Plan provides for the grant of stock options, including incentive stock options and nonqualified stock options, restricted stock, dividend equivalents, stock payments, restricted stock units, performance shares, other incentive awards, LTIP units of partnership interest in our operating partnership (“LTIP units”), including performance units in our operating partnership, stock appreciation rights and cash awards.

Our employees, consultants and non-employee directors are eligible to receive awards under the Plan. 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 and LTIP units that may be issued or transferred pursuant to the Plan is 2,272,689 shares (of which 1,315,807 shares of common stock remain available for issuance as of December 31, 2015). Shares and units granted under the Plan may be authorized but unissued shares/LTIP 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/LTIP 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 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 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 distributions paid on OP Units.

On December 15, 2015, the compensation committee granted an aggregate award of 166,669 LTIP Units to Messrs. Schwimmer, Frankel and Khan (collectively, the “executives”) under the Plan, that had a grant date fair value of $2.5 million based on the closing share price of our common stock on the date of grant ($15.90) and the application of a 5% discount for post-vesting restrictions and uncertainty regarding the occurrence and timing of “book-up events”. These LTIP Units will vest 25% in equal installments on each of the first, second, third and fourth anniversaries of the grant date, December 15, 2015, 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.

On December 15, 2015, the compensation committee granted an aggregate award of 315,998 performance units to the executives under the Plan. The number of performance units that ultimately vest, which will range from 0% to 100% of the performance units granted, will be based on the Company’s total shareholder return (“TSR”) over the three-year performance period beginning on December 15, 2015 and ending on December 14, 2018 (the “Performance Period”), and further subject to the executive’s continued employment. TSR is measured as the appreciation in the price per share of the Company’s common stock plus dividends paid during the Performance Period, assuming the reinvestment in common stock of all dividends paid during the Performance Period. Each award of performance units is comprised of a number of units designated as base units and distribution equivalent units. Forty percent (40%) of the base units are designated as “absolute TSR base units,” and vest based on varying levels of the Company’s TSR over the Performance Period. The other sixty percent (60%) of the base units are designated as “relative TSR base units” and vest based on the Company’s TSR as compared to the TSR percentage of a peer group of companies included in the SNL U.S. Equity REIT Index over the Performance Period. As noted above, performance units 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 Performance Period and a portion will be paid out as distribution equivalent units based upon the number of absolute and relative units that ultimately vest.

The TSR levels and vesting percentages for the absolute TSR base units and relative TSR base units are summarized in the following table:



	Absolute TSR Base Units				Relative TSR Base Units
	Company TSR Percentage⁽¹⁾		Absolute TSR Vesting Percentage		Peer Group Relative Performance⁽¹⁾	Relative TSR Vesting Percentage
	< 24%		—	%	< 50th Percentile	—	%
“Threshold Level”	24	%	20	%	50th Percentile	20	%
“Target Level”	37	%	60	%	62.5th Percentile	60	%
“Maximum Level”	≥ 50%		100	%	≥ 75th Percentile	100	%


(1)	If the Company’s TSR percentage or the peer group relative performance falls between the levels specified in the table, the percentage of absolute base units or relative base units that vest will be determined using straight-line interpolation between such levels.

The fair value of the performance units is based on the sum of: (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 Performance Period, and (3) the present value of the distribution equivalent units expected to be awarded at the end of the Performance Period. At the grant date, the performance units were fair valued at $2.2 million, utilizing 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 Performance Period. In performing the Monte Carlo simulation, we used the following assumptions: (i) expected price volatility for the Company of 24.0%, (ii) expected price volatility for a selection of peer group companies within the SNL U.S. Equity REIT Index with a range from 21.0% to 62.0%, (iii) an expected dividend yield of 3.40% and (iv) a three-year risk-free interest rate of 1.28%. The expected 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 since our IPO and our dividend yield as of the valuation date. The risk-free interest rate is based on US Treasury note yields matching the three-year time period of the Performance Period.

Compensation cost will be recognized ratably over the requisite service period, regardless of whether the TSR levels are achieved and any awards ultimately vest. We will only reverse compensation expense if the holder of a performance unit forfeits the award by leaving the employment of the Company prior to vesting.

Restricted Shares

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 administrator of the Plan, 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 stock to various employees, other than executives, of the Company 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, 2015, 102,503 shares of restricted common stock were granted to these employees. The grant date fair value of these awards was $1.6 million based on the closing share price of the Company’s common stock on the date of grant, which ranged from $14.63 to $15.82 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 stock to each of our non-employee directors who are re-elected for another year of service. These awards vest on the anniversary of 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, 2015, we granted 3,383 shares of restricted common stock to each of our non-employee directors. The grant date fair value of each award was $50,000 based on the $14.78 closing share price of the Company’s common stock on the date of grant.

Additionally, on February 26, 2015, 32,052 shares of restricted common stock were granted to Mr. Ziman, one of our non-employee directors. The grant date fair value of this award was $0.5 million based on the $15.60 closing share price of the Company’s common stock on the date of grant. These shares will vest in four equal, installments on October 23 of each of 2015, 2016, 2017 and 2018, subject to Mr. Ziman’s continued service.

The following table sets forth our unvested restricted stock activity for the year ended December 31, 2015 and 2014:



	Number of Unvested Shares of Restricted Common Stock		Weighted-Average Grant Date Fair Value per Share
Balance at December 31, 2013	140,468		$	14.00
Granted	243,233		$	14.40
Forfeited	(29,664	)	$	14.04
Vested⁽¹⁾⁽²⁾	(34,020	)	$	14.00
Balance at December 31, 2014	320,017		$	14.30
Granted	152,103		$	15.34
Forfeited	(31,925	)	$	14.54
Vested⁽¹⁾⁽²⁾	(106,754	)	$	14.34
Balance at December 31, 2015	333,441		$	14.74


(1)	The total fair value of shares that vested during the years ended December 31, 2015 and 2014 was $1.6 million and $0.5 million, respectively, calculated as the number of shares vested multiplied by the closing share price of the Company’s common stock on the vesting date.

(2)

12,670 and 6,928 shares of the Company’s common stock were tendered during the years ended December 31, 2015 and 2014, respectively, in accordance with the terms of the Plan to satisfy minimum tax withholding requirements related to the shares of restricted common stock that have vested. We accept the return of shares at the current quoted closing share price of the Company’s common stock on the NYSE to satisfy tax obligations.

The following table sets forth the vesting schedule of total unvested shares of restricted stock outstanding as of December 31, 2015:



Twelve months ending December 31:	Shares
2016	128,470
2017	139,325
2018	44,268
2019	21,378
	333,441

Compensation Expense

We recognized net equity compensation cost for all share-based awards of $1.8 million, $1.0 million and $0.4 million for the years ended December 31, 2015 and 2014 and the period from July 24, 2013 through December 31, 2013, respectively, which are included in general and administrative expense and property expenses in the accompanying consolidated statements of operations. These amounts exclude equity compensation cost that was capitalized for employees who provide leasing and construction services. We capitalized $0.1 million, $0.1 million and $41 thousand, for the years ended December 31, 2015 and 2014 and the period from July 24, 2013 to December 31, 2013, related to these employees.

As of December 31, 2015, there was $7.9 million of total unrecognized compensation cost related to all unvested share-based awards expected to vest, of which $0.3 million will be capitalized for employees who provide leasing and construction services. As of December 31, 2015, this total unrecognized compensation cost is expected to be recognized over a weighted average remaining period of 24 months.

Earnings Per Share

12 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

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, 2015			Year Ended December 31, 2014			Period from July 24, 2013 to December 31, 2013
Numerator:
Net income (loss) from continuing operations	$	1,950		$	(1,170	)	$	(1,002	)
Net income (loss) from continuing operations attributable to noncontrolling interests	(76		)	97			121
Income from continuing operations attributable to participating securities	(223		)	(102		)	(29		)
Income (loss) from continuing operations attributable to common stockholders	$	1,651		$	(1,175	)	$	(910	)
Income from discontinued operations	$	—		$	2,146		$	291
Income from discontinued operations attributable to noncontrolling interests	—			(177		)	(35		)
Income from discontinued operations attributable to participating securities	—			—			—
Income from discontinued operations attributable to common stockholders	$	—		$	1,969		$	256
Net income (loss)	$	1,950		$	976		$	(711	)
Net (income) loss attributable to noncontrolling interests	(76		)	(80		)	86
Net income attributable to participating securities	(223		)	(102		)	(29		)
Net income (loss) attributable to common stockholders	$	1,651		$	794		$	(654	)
Denominator:
Weighted average shares of common stock outstanding - basic and diluted	54,024,923			31,953,506			24,925,226
Earnings per share - Basic and Diluted:
Net income (loss) from continuing operations available to common stockholders	$	0.03		$	(0.04	)	$	(0.04	)
Net income from discontinued operations available to common stockholders	$	—		$	0.06		$	0.01
Net income (loss) available to common stockholders	$	0.03		$	0.02		$	(0.03	)

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 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 outperforming certain absolute and relative TSR levels (market conditions), are only included in the calculation of diluted EPS when any of the “threshold,” “target,” or “maximum” levels have been achieved the end of the applicable reporting period. As none of these levels were achieved as of December 31, 2015, they have been excluded from our calculation of weighted average shares of common stock outstanding - diluted.

In addition, as the effect of the conversion of OP Units into shares of our common stock is neither dilutive nor anti-dilutive, it has been excluded from our calculation of weighted average shares of common stock outstanding - diluted. As such, the number of weighted average shares of common stock outstanding, both basic and diluted, are the same for the years ended December 31, 2015 and 2014 and for the period from July 24, 2013 to December 31, 2013.

Predecessor Equity

12 Months Ended

Dec. 31, 2015

Predecessor Equity

Stockholders’ Equity

Common Stock

ATM Program

Noncontrolling Interests

The Accommodation

Changes in Accumulated Other Comprehensive Loss



	2015			2014
Accumulated other comprehensive loss - beginning balance	$	(1,331	)	$	—
Other comprehensive loss before reclassifications	(2,781		)	(1,402		)
Amounts reclassified from accumulated other comprehensive loss to interest expense	1,039			—
Net current period other comprehensive loss	(1,742		)	(1,402		)
Less other comprehensive loss attributable to noncontrolling interests	40			71
Other comprehensive loss attributable to common stockholders	(1,702		)	(1,331		)
Accumulated other comprehensive loss - ending balance	$	(3,033	)	$	(1,331	)

Dividends

The following unaudited table summarizes the federal income tax treatment for all distributions for the years ended December 31, 2015 and 2014 and the period from July 24, 2013 to December 31, 2013.



	Year Ended December 31, 2015				Year Ended December 31, 2014					Period From July 24, 2013 to December 31, 2013
Ordinary Income	$	0.4789478	93.91	%	$	0.4607500		92.15	%	$	0.1900000	100.00	%
Return of Capital	—		—	%	—			—	%	—		—	%
Capital Gain	0.0310522		6.09	%	0.0392500		⁽¹⁾	7.85	%	—		—	%
Total	$	0.5100000	100.00	%	$	0.5000000		100.00	%	$	0.1900000	100.00	%

(1)19.0% of the capital gain is comprised of an unrecaptured Section 1250 gain.

Predecessor

Predecessor Equity

Controlling interests in our Predecessor include the interests owned by partners of RILLC, and Rexford Sponsor V LLC, and any interests held by their spouses and children (“RILLC and Affiliates”). Noncontrolling interests relate to all other interests not held by RILLC and Affiliates. Noncontrolling interests also includes the 27.76% interest of 10 investors in RIF I—Walnut, LLC, and the 3.23% interest of one investor in RIF IV—Burbank, LLC, both consolidated subsidiaries in our Predecessor’s financial statements for the period from January 1, 2013 to July 23, 2013.

Equity distributions by our Predecessor Funds are allocated between the general partner and limited partners (collectively “Partners”) in accordance with each fund’s operating agreements. Generally this provides for distributions to be allocated to Partners, pari passu, in accordance with their respective percentage interests. After Partners have exceeded certain cash distribution thresholds, as defined in each Predecessor Fund’s operating agreement, then the general partner may receive incentive promote cash distributions commensurate with the cash return performance hurdles also detailed in the Predecessor Fund’s operating agreement. Each fund’s operating agreement generally provides for income, expenses, gains and losses to be allocated in a manner consistent with cash distributions described above.

During November and December 2012, our Predecessor granted to its employees a 9.0% equity interest in Rexford Fund V Manager, LLC’s (“Fund V Manager”) profits interest in RIF V. An additional 2.0% equity interest was granted in January 2013. Fund V Manager is the controlling member of RIF V and is a wholly-owned subsidiary of Sponsor. The fair value of these interests was estimated to be approximately $1.0 million at the time they were granted. The equity interests are considered performance-based equity interests and are subject to graded vesting over the shorter of a 7-year period or the dissolution date of Fund V Manager. On July 24, 2013, the day we consummated our IPO, Fund V Manager was dissolved.

We expensed approximately $1.0 million during the period from January 1, 2013 to July 23, 2013 related to these equity awards.

- Definition

+ References

+ Details

Quarterly Information (unaudited)

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

Quarterly Information (unaudited)

The following tables set forth selected quarterly information for the years ended December 31, 2015 and 2014 (in thousands except per share amounts):



	Three Months Ended
	December 31, 2015		September 30, 2015		June 30, 2015		March 31, 2015
Revenues from continuing operations	$	26,164	$	23,674	$	22,722	$	21,340
Net operating income⁽¹⁾	$	18,941	$	17,098	$	16,407	$	15,160
Net income from continuing operations	$	1,056	$	617	$	196	$	81
Net income	$	1,056	$	617	$	196	$	81
Net income attributable to common stockholders	$	945	$	540	$	139	$	27
Net income attributable to common stockholders per share - basic and diluted	$	0.02	$	0.01	$	—	$	—



	Three Months Ended
	December 31, 2014		September 30, 2014			June 30, 2014		March 31, 2014
Revenues from continuing operations	$	19,858	$	18,036		$	14,996	$	13,691
Net operating income⁽¹⁾	$	13,893	$	12,705		$	10,577	$	9,047
Net income (loss) from continuing operations	$	145	$	(679	)	$	81	$	(717	)
Income from discontinued operations	$	—	$	—		$	—	$	2,146
Net income (loss)	$	145	$	(679	)	$	81	$	1,429
Net income (loss) attributable to common stockholders	$	107	$	(623	)	$	49	$	1,261
Net income (loss) attributable to common stockholders per share - basic and diluted	$	—	$	(0.02	)	$	—	$	0.05


(1)	Net operating income is calculated as total rental revenues from real estate operations including (i) rental income, (ii) tenant reimbursements and (iii) other income less property expenses.

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Credit Agreement On January 14, 2016, we entered into a credit agreement (the “Credit Agreement”) for a senior unsecured term loan facility that permits aggregate borrowings of up to $125 million, the total of which we borrowed the same day at closing. Interest on the Credit Agreement is generally to be paid based upon, at our option, either (i) LIBOR plus the applicable Eurodollar rate margin or (ii) the applicable base rate which is the greater of (a) the federal funds rate plus 0.50%, (b) the administrative agent’s prime rate or (c) the thirty-day LIBOR plus 1.00%, plus the applicable base rate margin. The applicable Eurodollar rate margin will range from 1.50% to 2.25% per annum, and the applicable base rate margin will range from 0.50% to 1.25% per annum, depending on the our Leverage Ratio (as defined in the Credit Agreement). The maturity date of the Credit Agreement is January 14, 2023. We have the option to voluntarily prepay the loans 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 on or prior to January 14, 2018, we will pay a prepayment premium equal to (i) if such prepayment occurs prior to January 14, 2017, 2.00% of the principal amount so prepaid, and (ii) if such prepayment occurs on or after January 14, 2017 but prior to January 14, 2018, 1.00% of the principal amount so prepaid. Amounts borrowed under the Credit Agreement and repaid or prepaid may not be reborrowed. Revolver Paydown On January 15, 2016, we repaid $116.0 million of the outstanding balance on our Revolver, using a portion of funds disbursed from the new borrowing on our Credit Agreement. Interest Rate Swap On February 24, 2016, we entered into an interest rate swap transaction (the “Swap Transaction”) to manage our exposure to fluctuations in variable interest rate associated with amounts borrowed under the Credit Agreement. The Swap Transaction is for a notional amount of $125.0 million with a forward start date of February 14, 2018 and a termination date of January 14, 2022. Under the terms of the Swap Transaction, we are required to make certain monthly fixed rate payments on a notional amount of $125.0 million while the counterparty is obligated to make certain monthly floating rate payments based on LIBOR to us referencing the same notional amount. The Swap Transaction will effectively fix the annual interest rate payable on this notional amount of the Company’s debt which may exist under the Credit Agreement to 1.349% plus an applicable margin under the terms of the Credit Agreement.

Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2015

SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III – Real Estate and Accumulated Depreciation

REXFORD INDUSTRIAL REALTY, INC. AND

REXFORD INDUSTRIAL REALTY, INC. PREDECESSOR

SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION

(Dollars in thousands)



				Initial Cost				Costs Capitalized Subsequent to Acquisition			Gross Amounts at Which Carried at Close of Period
Property Address	Location	Encumbrances		Land		Building and Improvements		Building and Improvements			Land ⁽¹⁾		Building & Improvements ⁽¹⁾		Total		Accumulated Depreciation ⁽²⁾			Year Build / Year Renovated	Year Acquired
15241 - 15277, 15317 - 15339 Don Julian Rd.	City of Industry, CA	--	⁽³⁾	$	3,875	$	2,407	$	9,049		$	3,875	$	11,456	$	15,331	$	(4,946	)	1965, 2005 / 2003	2002
300 South Lewis Rd.	Camarillo, CA	--	⁽³⁾	4,150		3,050		6,915			4,150		9,965		14,115		(4,671		)	1960-1963 / 2006	2003
1400 South Shamrock	Monrovia, CA	--		2,317		2,534		676			2,317		3,210		5,527		(1,868		)	1957, 1962 / 2004	2003
12910 East Mulberry Dr.	Whittier, CA	--		3,469		1,629		1,191			3,469		2,820		6,289		(1,382		)	1962 / 2009	2003
2220-2260 Camino del Sol	Oxnard, CA	--	⁽³⁾	868		—		4,031			868		4,031		4,899		(1,162		)	2005	2003
14250-14278 Valley Blvd.	La Puente, CA	--		2,539		2,020		2,190			2,539		4,210		6,749		(1,911		)	1974 / 2007	2003
2300-2386 East Walnut Ave.	Fullerton, CA	--	⁽³⁾	6,817		6,089		727			6,817		6,816		13,633		(3,026		)	1985-1986 / 2005	2004
15140 & 15148 Bledsoe St., 13065 - 13081 Bradley Ave.	Sylmar, CA	--		2,525		3,380		5,631			2,525		9,011		11,536		(2,770		)	1969, 2008 / 2006	2004
28340 - 28400 Avenue Crocker	Valencia, CA	--		2,666		3,343		2,760			2,666		6,103		8,769		(2,094		)	1987 / 2006 / 2015	2004
21-29 West Easy St.	Simi Valley, CA	--		2,346		4,522		1,394			2,346		5,916		8,262		(2,302		)	1991 / 2006	2004
10439-10477 Roselle St.	San Diego, CA	--		4,711		3,199		115			4,711		3,314		8,025		(344		)	1970 / 2007	2013
12345 First American Way	Poway, CA	--		2,469		2,489		2,757			800		3,715		4,515		(1,381		)	2002 / 2007	2005
1631 N. Placentia Ave., 2350 - 2384 E. Orangethorpe Ave.	Anaheim, CA	--		4,893		1,386		987			4,893		2,373		7,266		(973		)	1973 / 2007	2005
2575 Pioneer Ave.	Vista, CA	--		1,784		2,974		1,775			1,784		4,749		6,533		(1,799		)	1988 / 2006	2004
311, 319, 329 & 333 157th St.	Gardena, CA	--		3,100		786		1,207			3,100		1,993		5,093		(823		)	1960-1971 / 2006-2011	2006
9641 - 9657 Santa Fe Springs Rd.	Santa Fe Springs, CA	--		3,740		260		6,878			3,740		7,138		10,878		(1,463		)	1982 / 2009	2006
28159 Avenue Stanford	Valencia, CA	--		1,849		6,776		3,172			1,849		9,948		11,797		(3,252		)	1987 / 2008 / 2015	2006
15715 Arrow Highway	Irwindale, CA	--	⁽³⁾	3,604		5,056		(84		)	3,604		4,972		8,576		(1,851		)	1989	2006
2431-2465 Impala Dr.	Carlsbad, CA	--		5,470		7,308		2,712			5,470		10,020		15,490		(3,421		)	1983 / 2006	2006



			Initial Cost		Costs Capitalized Subsequent to Acquisition	Gross Amounts at Which Carried at Close of Period
Property Address	Location	Encumbrances	Land	Building and Improvements	Building and Improvements	Land ⁽¹⁾	Building & Improvements ⁽¹⁾	Total	Accumulated Depreciation ⁽²⁾		Year Build / Year Renovated	Year Acquired
6200 & 6300 Yarrow Dr.	Carlsbad, CA	--	5,001	7,658	3,105	5,001	10,763	15,764	(4,263	)	1977-1988 / 2006	2005
6231 & 6241 Yarrow Dr.	Carlsbad, CA	--	3,473	5,119	954	3,473	6,073	9,546	(2,463	)	1977 / 2006	2006
9160 - 9220 Cleveland Ave., 10860 6th St.	Rancho Cucamonga, CA	--	3,647	11,867	2,187	3,647	14,054	17,701	(6,058	)	1988-1989 / 2006	2006
9375 Archibald Ave.	Rancho Cucamonga, CA	--	3,572	3,239	1,960	1,808	3,776	5,584	(1,415	)	1980 / 2007	2007
18118-18120 S. Broadway	Carson, CA	--	3,013	2,161	286	3,013	2,447	5,460	(325	)	1957 / 1989	2013
6010 Paramount Ave., 2708 Seaboard Lane	Long Beach, CA	--	1,004	175	634	1,004	809	1,813	(292	)	1981-1982	2007
901 W. Alameda Ave.	Burbank, CA	--	6,304	2,996	4,889	6,304	7,885	14,189	(2,751	)	1969 / 2009	2007
1938-1946 E. 46th St.	Vernon, CA	--	7,015	7,078	1,388	7,015	8,466	15,481	(2,567	)	1961, 1983 / 2008-2010	2007
700 Allen Ave., 1840 Dana St., & 1830 Flower	Glendale, CA	--	4,845	1,163	2,131	4,845	3,294	8,139	(436	)	1949, 1961 / 2011-2012	2008
89-91 N. San Gabriel Blvd., 2670-2674 Walnut Ave., 2675 Nina St.	Pasadena, CA	--	1,759	2,834	1,863	1,759	4,697	6,456	(1,211	)	1947, 1985 / 2009	2008
9220-9268 Hall Rd.	Downey, CA	--	6,974	2,902	117	6,974	3,019	9,993	(910	)	2008	2009
131 W. 33rd St.	National City, CA	--	2,390	5,029	290	2,390	5,319	7,709	(1,967	)	1969 / 2008	2006
5803 Newton Dr.	Carlsbad, CA	--	3,152	7,155	1,589	1,692	5,624	7,316	(2,153	)	1997-1999 / 2009	2007
929, 935, 939 & 951 Poinsettia Ave.	Vista, CA	--	4,453	5,900	643	2,830	4,581	7,411	(1,610	)	1989 / 2007	2008
200-220 South Grand Ave.	Santa Ana, CA	--	2,579	667	217	2,371	838	3,209	(276	)	1973 / 2008	2007
3720-3750 W. Warner Ave.	Santa Ana, CA	--	3,028	1,058	607	3,028	1,665	4,693	(595	)	1973 / 2008	2007
6750 Unit B-C - 6780 Central Ave.	Riverside, CA	--	3,323	1,118	1,187	1,441	1,781	3,222	(754	)	1978	2007
77-700 Enfield Lane	Palm Desert, CA	--	1,110	1,189	209	397	691	1,088	(317	)	1990	2007
1050 Arroyo Ave.	San Fernando, CA	--	3,092	1,900	2	3,092	1,902	4,994	(271	)	1969 / 2012	2010
600-650 South Grand Ave.	Santa Ana, CA	--	4,298	5,075	286	4,298	5,361	9,659	(566	)	1988	2010
121-125 N. Vinedo Ave.	Pasadena, CA	--	3,481	3,530	1	3,481	3,531	7,012	(494	)	1953 / 1993	2011
3441 West MacArthur Blvd.	Santa Ana, CA	--	4,179	5,358	5	4,179	5,363	9,542	(517	)	1973	2011



				Initial Cost		Costs Capitalized Subsequent to Acquisition	Gross Amounts at Which Carried at Close of Period
Property Address	Location	Encumbrances		Land	Building and Improvements	Building and Improvements	Land ⁽¹⁾	Building & Improvements ⁽¹⁾	Total	Accumulated Depreciation ⁽²⁾		Year Build / Year Renovated	Year Acquired
6701 & 6711 Odessa Ave.	Van Nuys, CA	--		1,582	1,856	90	1,582	1,946	3,528	(171	)	1970-1972 / 2012	2011
13914-13932 Valley Blvd.	La Puente, CA	--		2,372	2,431	130	2,372	2,561	4,933	(289	)	1978, 1988 / 2012	2011
10700 Jersey Blvd.	Rancho Cucamonga, CA	--		3,158	4,860	228	3,158	5,088	8,246	(574	)	1988-1989	2011
15705, 15709 Arrow Highway & 5220 Fourth St.	Irwindale, CA	--		3,608	2,699	82	3,608	2,781	6,389	(310	)	1987	2011
20920-20950 Normandie Ave.	Torrance, CA	--		3,253	1,605	134	3,253	1,739	4,992	(192	)	1989	2011
14944, 14946, 14948 Shoemaker Ave.	Santa Fe Springs, CA	--		3,720	2,641	290	3,720	2,931	6,651	(349	)	1978 / 2012	2011
6423-6431 & 6407-6119 Alondra Blvd.	Paramount, CA	--		1,396	925	7	1,396	932	2,328	(113	)	1986	2011
1400 S. Campus Ave.	Ontario, CA	--		3,266	2,961	2	3,266	2,963	6,229	(1,262	)	1964-1966, 1973, 1987	2012
15041 Calvert St.	Van Nuys, CA	--		4,096	1,570	2	4,096	1,572	5,668	(179	)	1971	2012
701 Del Norte Blvd.	Oxnard, CA	--		3,082	6,230	47	3,082	6,277	9,359	(667	)	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	1,124	17,978	40,595	58,573	(3,937	)	1966, 1992, 1993, 1994	2013
8900-8980 Benson Ave., 5637 Arrow Highway	Montclair, CA	--		2,285	4,778	597	2,285	5,375	7,660	(588	)	1974	2013
1661 240th St.	Los Angeles, CA	--		3,043	2,550	3,609	3,043	6,159	9,202	(405	)	1975 / 1995	2013
8101-8117 Orion Ave.	Van Nuys, CA	--		1,389	3,872	125	1,389	3,997	5,386	(410	)	1978	2013
18310-18330 Oxnard St.	Tarzana, CA	--		2,497	5,494	615	2,497	6,109	8,606	(623	)	1973	2013
22343-22349 La Palma Ave.	Yorba Linda, CA	--		6,087	5,984	286	6,087	6,270	12,357	(617	)	1988	2013
1100-1170 Gilbert St. & 2353-2373 La Palma Ave.	Anaheim, CA	2,891	⁽⁴⁾	4,582	5,135	193	4,582	5,328	9,910	(644	)	1972 / 1990 / 2013	2013
280 Bonita Ave., 2743 Thompson Creek Rd.	Pomona, CA	--		8,001	17,734	9	8,001	17,743	25,744	(1,358	)	1983	2013
2950 Madera Rd.	Simi Valley, CA	--	⁽³⁾	3,601	8,033	2	3,601	8,035	11,636	(615	)	1988 / 2005	2013
10635 Vanowen St.	Burbank, CA	--		1,517	1,833	427	1,517	2,260	3,777	(175	)	1977	2013
7110 Rosecrans Ave.	Paramount, CA	--		3,117	1,894	870	3,117	2,764	5,881	(159	)	1972 / 2015	2014



			Initial Cost		Costs Capitalized Subsequent to Acquisition	Gross Amounts at Which Carried at Close of Period
Property Address	Location	Encumbrances	Land	Building and Improvements	Building and Improvements	Land ⁽¹⁾	Building & Improvements ⁽¹⁾	Total	Accumulated Depreciation ⁽²⁾		Year Build / Year Renovated	Year Acquired
14723-14825 Oxnard St.	Van Nuys, CA	--	4,458	3,948	1,010	4,458	4,958	9,416	(331	)	1964 / 1968	2014
845, 855, 865 S Milliken Ave & 4317, 4319 Santa Ana St.	Ontario, CA	--	2,260	6,043	142	2,260	6,185	8,445	(595	)	1985	2014
1500-1510 W. 228th St.	Torrance, CA	--	2,428	4,271	815	2,428	5,086	7,514	(325	)	1963 / 1968	2014
24105 Frampton Ave.	Torrance, CA	--	2,315	1,553	285	2,315	1,838	4,153	(50	)	1974	2014
1700 Saturn Way	Seal Beach, CA	--	7,935	10,525	—	7,935	10,525	18,460	(702	)	2006	2014
2980 & 2990 N San Fernando Road	Burbank, CA	--	6,373	7,356	257	6,373	7,613	13,986	(616	)	1950 / 2004	2014
20531 Crescent Bay Dr.	Lake Forest, CA	--	2,181	4,012	4	2,181	4,016	6,197	(307	)	1998	2014
2610 & 2701 S. Birch Street	Santa Ana, CA	--	9,305	2,115	3,032	9,305	5,147	14,452	(70	)	1965 / 2015	2014
710 South Dupont Avenue & 4051 Santa Ana Street	Ontario, CA	--	3,725	6,145	29	3,725	6,174	9,899	(411	)	2001	2014
9755 Distribution Ave.	San Diego, CA	--	1,863	3,211	39	1,863	3,250	5,113	(319	)	1974	2014
9855 Distribution Ave	San Diego, CA	--	2,733	5,041	13	2,733	5,054	7,787	(339	)	1983	2014
9340 Cabot Drive	San Diego, CA	--	4,311	6,126	41	4,311	6,167	10,478	(423	)	1975 / 1976	2014
9404 Cabot Drive	San Diego, CA	--	2,413	3,451	4	2,413	3,455	5,868	(247	)	1975 / 1976	2014
9455 Cabot Drive	San Diego, CA	--	4,423	6,799	238	4,423	7,037	11,460	(475	)	1975 / 1976	2014
14955-14971 E Salt Lake Ave	City of Industry, CA	--	5,125	5,009	533	5,125	5,542	10,667	(360	)	1979	2014
5235 East Hunter Ave.	Anaheim, CA	--	5,240	5,065	35	5,240	5,100	10,340	(630	)	1987	2014
3880 West Valley Blvd.	Pomona, CA	--	3,982	4,796	—	3,982	4,796	8,778	(591	)	1980	2014
1601 Alton Pkwy.	Irvine, CA	--	7,638	4,946	704	7,638	5,650	13,288	(308	)	1974	2014
3116 W. Avenue 32	Los Angeles, CA	--	3,761	6,729	868	3,761	7,597	11,358	(417	)	1974	2014
21040 Nordoff Street; 9035 Independence Avenue; 21019 - 21045 Osborne Street	Chatsworth, CA	--	7,230	9,058	336	7,230	9,394	16,624	(617	)	1979 / 1980	2014
24935 & 24955 Avenue Kearny	Santa Clarita, CA	--	4,773	5,970	413	4,773	6,383	11,156	(556	)	1988	2014
605 8th Street	San Fernando, CA	--	2,393	2,742	1,686	2,393	4,428	6,821	(60	)	1991 / 2015	2014



				Initial Cost		Costs Capitalized Subsequent to Acquisition	Gross Amounts at Which Carried at Close of Period
Property Address	Location	Encumbrances		Land	Building and Improvements	Building and Improvements	Land ⁽¹⁾	Building & Improvements ⁽¹⁾	Total	Accumulated Depreciation ⁽²⁾		Year Build / Year Renovated	Year Acquired
9120 Mason Ave.	Chatsworth, CA	--		9,224	19,346	—	9,224	19,346	28,570	(999	)	1967 / 1999	2014
7900 Nelson Rd.	Los Angeles, CA	--		8,495	15,948	1,410	8,495	17,358	25,853	(644	)	1998 / 2015	2014
679-691 S Anderson St.	Los Angeles, CA	--		1,723	4,767	52	1,723	4,819	6,542	(190	)	1992	2014
10509 Business Drive	Fontana, CA	--		3,505	5,237	85	3,505	5,322	8,827	(257	)	1989	2014
13231 Slover Avenue	Fontana, CA	--		2,812	4,739	47	2,812	4,786	7,598	(232	)	1990	2014
240 W Ivy Avenue	Inglewood, CA	--		2,064	3,675	56	2,064	3,731	5,795	(174	)	1981	2014
3000 Paseo Mercado, 3120-3150 Paseo Mercado	Oxnard, CA	--		2,616	8,311	50	2,616	8,361	10,977	(423	)	1988	2014
2350-2380 Eastman Ave	Oxnard, CA	--		1,805	3,856	4	1,805	3,860	5,665	(263	)	2003	2014
1800 Eastman Ave	Oxnard, CA	--		842	2,209	—	842	2,209	3,051	(153	)	2009	2014
2360-2364 E. Sturgis Road	Oxnard, CA	--		1,128	2,726	146	1,128	2,872	4,000	(146	)	1989	2014
201 Rice Ave. & 2400-2420 Celsius	Oxnard, CA	--		3,487	9,589	26	3,487	9,615	13,102	(490	)	2008	2014
11120, 11160, 11200 Hindry Ave	Los Angeles, CA	--		3,478	7,834	137	3,478	7,971	11,449	(355	)	1992 / 1994	2014
6970-7170 & 7310-7374 Convoy Ct.	San Diego, CA	--		10,805	18,426	493	10,805	18,919	29,724	(934	)	1971	2014
12907 Imperial Highway	Santa Fe Springs, CA	5,602	⁽⁵⁾	5,462	6,678	—	5,462	6,678	12,140	(250	)	1997	2015
8902-8940 Activity Rd	San Diego, CA	--		9,427	8,103	56	9,427	8,159	17,586	(394	)	1987 / 1997	2015
1210 N Red Gum St	Anaheim, CA	--		3,326	4,020	111	3,326	4,131	7,457	(170	)	1985	2015
9401 De Soto Ave	Chatsworth, CA	--		6,352	7,764	1,862	6,352	9,626	15,978	—		1983	2015
9615 Norwalk Blvd.	Santa Fe Springs, CA	--		8,508	1,134	81	8,508	1,215	9,723	(53	)	1975	2015
16221 Arthur St.	Cerritos, CA	--		2,979	3,204	96	2,979	3,300	6,279	(87	)	1979	2015
2588 & 2605 Industry Way	Lynwood, CA	--		8,738	9,415	—	8,738	9,415	18,153	(271	)	1969 / 1971	2015
425 S. Hacienda Blvd.	City of Industry, CA	--		4,010	3,050	—	4,010	3,050	7,060	(90	)	1997	2015
6700 S Alameda St.	Huntington Park, CA	--		3,502	9,279	222	3,502	9,501	13,003	(238	)	1990 / 2008	2015
12720-12860 Danielson Ct.	Poway, CA	--		6,902	8,949	22	6,902	8,971	15,873	(300	)	1999	2015
10950 Norwalk Blvd & 12241 Lakeland Rd.	Santa Fe Springs, CA	--		3,446	1,241	35	3,446	1,276	4,722	(33	)	1982	2015
610-760 W Hueneme Rd & 5651-5721 Perkins Rd	Oxnard, CA	--		3,310	5,806	110	3,310	5,916	9,226	(128	)	1985	2015



					Initial Cost				Costs Capitalized Subsequent to Acquisition		Gross Amounts at Which Carried at Close of Period
Property Address	Location	Encumbrances			Land		Building and Improvements		Building and Improvements		Land ⁽¹⁾		Building & Improvements ⁽¹⁾		Total		Accumulated Depreciation ⁽²⁾			Year Build / Year Renovated	Year Acquired
10701-10719 Norwalk Blvd.	Santa Fe Springs, CA	--			3,357		3,527		14		3,357		3,541		6,898		(56		)	2004	2015
6020 Sheila St.	Commerce, CA	--			4,590		7,772		419		4,590		8,191		12,781		(77		)	2000	2015
9805 6th St.	Rancho Cucamonga, CA	--			3,503		3,204		—		3,503		3,204		6,707		(39		)	1986	2015
16321 Arrow Hwy.	Irwindale, CA	--			3,087		4,081		—		3,087		4,081		7,168		(44		)	1955 / 2001	2015
2535 Midway Dr.	San Diego, CA	--			17,175		3,141		58		17,175		3,199		20,374		(29		)	1972	2015
601-605 S. Milliken Ave.	Ontario, CA	--			5,479		7,036		—		5,479		7,036		12,515		(34		)	1987 / 1988	2015
1065 E. Walnut Ave.	Carson, CA	10,147		⁽⁶⁾	10,038		4,380		—		10,038		4,380		14,418		(34		)	1974	2015
12247 Lakeland Rd.	Santa Fe Springs, CA	--			3,481		776		—		3,481		776		4,257		—			1971	2015
17311 Nichols Ln.	Huntington Beach, CA	--			7,988		8,728		—		7,988		8,728		16,716		—			1993 / 2014	2015
Investments in real estate		$	18,640		$	502,023	$	601,797	$	103,578	$	492,704	$	696,062	$	1,188,766	$	(103,623	)

Note: As of December 31, 2015, the aggregate cost for federal income tax purposes of investments in real estate was approximately $1.1 billion.

(1)

During 2009, we recorded impairment charges totaling $19.6 million in continuing operations (of which $18.6 million relates to properties still owned by us) to write down our investments in real estate to fair value. Of the $18.6 million, $9.3 million is included as a reduction of “Land” in the table above, with the remaining $9.3 million included as a reduction of “Buildings and Improvements”.


(2)	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.


(3)	These 6 properties secure a $60.0 million term loan.


(4)	Includes unamortized discount and deferred loan costs of $0.2 million.


(5)	Includes unamortized premium and deferred loan costs of $0.3 million.


(6)	Includes unamortized premium of $0.3 million.

The changes in total investments in real estate, including investments in real estate held for sale, and accumulated depreciation, including accumulated depreciation for investments in real estate held for sale, for the three years ended December 31, 2015, 2014 and 2013 are as follows:



	Year Ended December 31,
	2015			2014			2013
Balance, Beginning of Year	$	930,462		$	555,433		$	397,597
Acquisition of Investment in Real Estate	235,948			375,422			148,811
Construction Costs and Improvements	22,841			14,485			3,802
Step-up in Basis Adjustment	—			—			28,070
Disposition of Investment in Real Estate	—			(14,816		)	(20,275		)
Write-off of Fully Depreciated Assets	(485		)	(62		)	(2,572		)
Balance, End of Year	$	1,188,766		$	930,462		$	555,433



	Year Ended Year Ended December 31,
	2015			2014			2013
Balance, Beginning of Year	$	(76,884	)	$	(60,898	)	$	(60,574	)
Depreciation of Investment in Real Estate	(27,224		)	(18,042		)	(11,288		)
Step-up in Basis Adjustment	—			—			4,357
Disposition of Investment in Real Estate	—			1,994			4,035
Write-off of Fully Depreciated Assets	485			62			2,572
Balance, End of Year	$	(103,623	)	$	(76,884	)	$	(60,898	)

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2015
Accounting Policies [Abstract]
Cash and Cash Equivalents	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.
Discontinued Operations	Discontinued Operations On April 14, 2014, the FASB issued ASU 2014-08: Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (“ASU 2014-08”). Under ASU 2014-08, only disposals that represent a strategic shift that has (or will have) a major effect on the entity’s results and operations would qualify as discontinued operations. ASU 2014-08 further expands the disclosure requirements for disposals that meet the definition of a discontinued operation, and requires entities to disclose information about disposals of individually significant components. We elected to adopt ASU 2014-08 early, beginning in the fiscal quarter ended September 30, 2014. The adoption of ASU 2014-08 has and will likely result in fewer property sales being classified as discontinued operations. The revenues and expenses of operating properties that were either sold or classified as held for sale prior to the adoption of ASU 2014-08, are reported as discontinued operations in the consolidated and combined statements of operations for all periods presented through the date of the disposition.
Investment in Real Estate	Investment in Real Estate Acquisitions When we acquire operating properties with the intention to hold the investment for the long-term, and such acquisitions meet the accounting criteria to be accounted for as a business combination, we allocate the purchase price to the various components of the acquisition based upon the fair value of each component. The components typically include land, building and improvements, tenant improvements, intangible assets related to above and below market leases, intangible assets related to in-place leases, debt and other assumed assets and liabilities. Because of the timing or complexity of completing certain fair value adjustments, the initial purchase price allocation may be incomplete at the end of a reporting period, in which case we may record provisional purchase price allocation amounts based on information available at the acquisition date. Subsequent adjustments to provisional amounts are recognized during the measurement period, which cannot exceed one year from the date of acquisition. We allocate the purchase price to the fair value of the tangible assets of a 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 our assumptions about 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 calculating the “as-if-vacant” value for acquisitions completed during the year ended December 31, 2015, we used discount rates ranging from 7.00% and 11.75%. 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 costs that would have been incurred to lease the property to the occupancy level of the property at the date of acquisition. Such estimates include the value associated with leasing commissions, legal and other costs, as well as the estimated period necessary to lease such property that would be incurred to lease the property to its occupancy level at the time of its acquisition. Acquisition costs associated with the business combination are expensed in the period they are incurred. The difference between the fair value and the face value of debt assumed 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. For acquisitions that do not meet the accounting criteria to be accounted for as a business combination, we allocate the cost of the acquisition, which includes any associated acquisition costs, to the individual assets (typically land and building) and liabilities assumed on a relative fair value basis. During the years ended December 31, 2015 and 2014, the period from July 24, 2013 to December 31, 2013 and the period from January 1, 2013 to July 23, 2013, we capitalized $0.7 million, $0.3 million, $0.2 million and $0 respectively, in aggregated acquisition costs. See Note 3. 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 noncash 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 $0.8 million and $42 thousand during the years ended December 31, 2015 and 2014, respectively. We did not capitalize any similar costs for the period from July 24, 2013 to December 31, 2013 and the period from January 1, 2013 to July 23, 2013. We capitalized real estate taxes and insurance aggregating $0.8 million and $0.1 million during the years ended December 31, 2015 and 2014, respectively. We did not capitalize any similar costs for the period from July 24, 2013 to December 31, 2013 and the period from January 1, 2013 to July 23, 2013. We capitalized compensation costs for employees who provide construction services of $0.9 million, $0.6 million, $0.2 million and $0.1 million during the years ended December 31, 2015 and 2014, the period from July 24, 2013 to December 31, 2013 and the period from January 1, 2013 to July 23, 2013, respectively. Depreciation and Amortization Real estate, including land, building and land improvements, tenant improvements, and 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 regards 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 revenues” 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 a change in the useful life, which requires significant judgment regarding the economic obsolescence of tangible and intangible assets.
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 Topic 360: Property, Plant, and Equipment, 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. In order 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.
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 ventures is included within the consolidated and combined statements of operations. See Note 12.
Deferred Leasing Costs	Deferred Leasing Costs We capitalize costs directly related to the successful origination of a lease. These costs include leasing commissions paid to third parties for new leases or lease renewals, as well as an allocation of compensation costs, including payroll, bonus and non-cash equity compensation, of employees who spend time on lease origination activities. In determining the amount of compensation costs to be capitalized for these employees, allocations are made based on estimates of the actual amount of time spent working on successful leases in comparison to time spent on unsuccessful origination efforts.
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 federal income tax at regular corporate rates, 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 year ended December 31, 2015 and 2014 and for the period from July 24, 2013 through December 31, 2013. Each of RIF I, RIF II, RIF III and RIF IV are limited liability companies but have elected to be taxed as a partnership for tax purposes. As such, the allocated share of net income or loss from the limited liability companies is reportable in the income tax returns of the respective partners and investors. Accordingly, no income tax provision is included in the accompanying combined financial statements. RIF V REIT has elected to be taxed as a REIT under the Code, commencing with its tax period ended December 31, 2010. We believe that RIF V REIT met all of the REIT distribution and technical requirements for the period from January 1, 2013 to July 23, 2013. Accordingly, we have not recognized any provision for income taxes. 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, 2015 and 2014, 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 8.
Revenue Recognition	Revenue Recognition We recognize revenue from rent, tenant reimbursements and other revenue sources once all of the following criteria are met: persuasive evidence of an arrangement exists, the delivery has occurred or services rendered, the fee is fixed and determinable and collectability is reasonably assured. Minimum annual rental revenues are recognized in rental revenues on a straight-line basis over the term of the related lease. Rental revenue recognition commences when the tenant takes possession or controls the physical use of the leased space. 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. Lease termination fees, which are included in rental revenues in the accompanying consolidated and combined statements of operations, are recognized when the related lease is canceled and we have no continuing obligation to provide services to such former tenant. Revenues from management, leasing and development services are recognized when the related services have been provided and earned. The recognition of gains on sales of real estate requires us to measure the timing of a sale against various criteria related to the terms of the transaction, as well as any continuing involvement in the form of management or financial assistance associated with the property. If the sales criteria are not met, we defer gain recognition and account for the continued operations of the property by applying the finance, profit-sharing or leasing method. If the sales criteria have been met, we further analyze whether profit recognition is appropriate using the full accrual method. If the criteria to recognize profit using the full accrual method have not been met, we defer the gain and recognize it when the criteria are met or use the installment or cost recovery method as appropriate under the circumstances. See Note 13 for discussion of dispositions.
Valuation of Receivables	Valuation of Receivables We are subject to tenant defaults and bankruptcies that could affect the collection of outstanding receivables. 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. We specifically analyze aged receivables, customer credit-worthiness, historical bad debts and current economic trends when evaluating the adequacy of the allowance for doubtful accounts. As a result of our periodic analysis, we maintain an allowance for estimated losses that may result from the inability of our tenants to make required payments. This estimate requires significant judgment related to the lessees’ ability to fulfill their obligations under the leases. We believe our allowance for doubtful accounts is adequate for our outstanding receivables for the periods presented. If a tenant is insolvent or files for bankruptcy protection and fails to make contractual payments beyond any allowance, we may recognize additional bad debt expense in future periods equal to the net outstanding balances, which include amounts recognized as straight-line revenue not realizable until future periods. We recorded a provision for doubtful accounts of $1.5 million, $0.7 million, $0.2 million and $0.3 million for the year ended December 31, 2015, December 31, 2014, the period from July 24, 2013 through December 31, 2013 and the period from January 1, 2013 through July 23, 2013, respectively, as a reduction to rental revenues in our consolidated and combined statements of operations. We had a $2.0 million and $1.0 million reserve for allowance for doubtful accounts as of December 31, 2015 and 2014, respectively.
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 or performance condition, we recognize compensation cost on a straight-line basis over the requisite service period of each separately vesting tranche. See Note 15.
Equity Offering Costs	Equity Offering Costs Underwriting commissions and offering costs have been reflected as a reduction of additional paid-in capital.
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.
Segment Reporting	Segment Reporting Management views the Company as a single segment based on its method of internal reporting in addition to its allocation of capital and resources.
Recently Issued Accounting Pronouncements	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. On September 25, 2015, the FASB issued ASU 2015-16, Business Combinations: Simplifying the Accounting for Measurement-Period Adjustments (“ASU 2015-16”). ASU 2015-16 requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The effect on earnings of changes in depreciation or amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date, must be recorded in the reporting period in which the adjustment amounts are determined rather than retrospectively. ASU 2015-16 also requires that an acquirer present separately on the face of the income statement, or disclose in the notes, the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. ASU 2015-16 is effective prospectively for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years, with early adoption permitted. We have elected to adopt ASU 2015-16 early, beginning with the quarter ended September 30, 2015. There was no change to our consolidated financial statements or notes to our consolidated financial statements as a result of early adoption. On April 7, 2015, the FASB issued ASU 2015-03, Interest - Imputation of Interest (“ASU 2015-03”). ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be 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. ASU 2015-03 is effective for annual and interim periods beginning on or after December 15, 2015, with early adoption permitted on a retrospective basis. We have elected to adopt ASU 2015-03 early, beginning with the quarter ended March 31, 2015. As a result of the adoption of ASU 2015-03, we have reclassified approximately $0.7 million of net debt issuance costs from an asset (previously recorded in the line item “Deferred loan costs, net” in the consolidated balance sheets) to a reduction in the carrying amount of our notes payable as of December 31, 2014. Net debt issuance costs related to establishing our revolving line of credit will continue to be presented in the line item “Deferred loan costs, net” as an asset in the consolidated balance sheets. ASU 2015-03 also expands disclosure requirements to include the face amount of the debt liability and the effective interest rate in the notes to the consolidated financial statements. See Note 6. In February 2015, the FASB issued ASU 2015-02, Amendments to the Consolidation Analysis (“ASU 2015-02”). ASU 2015-02 requires reporting entities to evaluate whether they should consolidate certain legal entities. ASU 2015-02 modifies the evaluation of whether limited partnerships and similar legal entities are variable interest entities (“VIEs”) or voting interest entities and eliminates the presumption that a general partner should consolidate a limited partnership. This ASU affects the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships. ASU 2015-02 is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015, with early adoption permitted. A reporting entity may apply the amendments in the ASU using: (i) a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption or (ii) by applying the amendments retrospectively. We do not expect the adoption of ASU 2015-02 to have a material impact on our consolidated financial statements. On May 28, 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”). ASU 2014-09 establishes principles for reporting the nature, amount, timing and uncertainty of revenues and cash flows arising from an entity’s contracts with customers. The core principle of the new standard is that an entity recognizes revenue to represent the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. For public entities, ASU 2014-09 is effective for annual reporting periods, including interim reporting periods within those periods, beginning after December 15, 2016. In August 2015, the FASB issued ASU 2015-14, to defer the implementation of ASU 2014-09 date by one year, which would make this ASU effective for annual reporting periods beginning after December 15, 2017. Early application is permitted for fiscal years beginning after December 15, 2016. ASU 2014-09 notes that lease contracts with customers are a scope exception, and accordingly, we do not expect the adoption to have a material impact on our consolidated financial statements or notes to our consolidated financial statements.

Investments in Real Estate (Tables)

12 Months Ended

Dec. 31, 2015

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, 2015:



Property	Submarket	Date of Acquisition	Rentable Square Feet	Number of Buildings	Purchase Price (in thousands)
8902-8940 Activity Road⁽¹⁾	San Diego - Central	1/21/2015	112,501	5	$	18,450
12907 Imperial Highway⁽²⁾	Los Angeles - Mid-counties	1/21/2015	101,080	1	12,180
1210 North Red Gum Street⁽³⁾	Orange County - North	3/9/2015	64,570	1	7,650
9401 De Soto Avenue⁽³⁾	Los Angeles - San Fernando Valley	3/18/2015	150,263	1	14,075
9615 Norwalk Boulevard⁽³⁾	Los Angeles - Mid-counties	4/30/2015	38,362	2	9,642
16221 Arthur Street⁽³⁾	Los Angeles - Mid-counties	5/1/2015	61,372	1	5,774
2588 & 2605 Industry Way⁽¹⁾	Los Angeles - South Bay	5/12/2015	164,662	2	22,000
425 South Hacienda Boulevard⁽¹⁾	Los Angeles - San Gabriel Valley	5/15/2015	51,823	1	7,000
6700 Alameda Street⁽⁴⁾	Los Angeles - Central LA	6/29/2015	78,280	1	14,500
12720-12860 Danielson Court⁽¹⁾	San Diego - Central	7/10/2015	112,062	6	16,900
10950 Norwalk Boulevard⁽³⁾	Los Angeles - Mid-counties	7/29/2015	18,995	1	4,973
610-760 Hueneme Road⁽³⁾	Ventura	8/11/2015	86,904	2	9,607
10709-10719 Norwalk Boulevard⁽³⁾	Los Angeles - Mid-counties	9/1/2015	58,056	2	7,242
6020 Sheila Street⁽⁴⁾	Los Angeles - Central LA	9/18/2015	70,877	1	12,220
9805 6th Street⁽⁴⁾	Inland Empire West	9/30/2015	81,377	1	6,894
16321-16327 Arrow Highway⁽¹⁾	Los Angeles - San Gabriel Valley	10/14/2015	64,296	3	8,120
2535 Midway Drive⁽¹⁾	San Diego - Central	10/22/2015	373,744	2	19,295
601-605 Milliken Avenue⁽¹⁾	Inland Empire West	12/8/2015	128,322	3	13,000
1065 Walnut Street⁽⁵⁾	Los Angeles - South Bay	12/11/2015	172,420	1	16,700
12247 Lakeland Road⁽¹⁾	Los Angeles - Mid-counties	12/16/2015	24,875	1	4,257
17311 Nichols Lane⁽⁴⁾	Orange County - West	12/30/2015	114,912	1	17,100
Total 2015 Wholly-Owned Property Acquisitions			2,129,753	39	$	247,579


(1)	This acquisition was funded with borrowings under our unsecured revolving credit facility.


(2)	This acquisition was funded as follows: (i) $5.4 million from the assumption of secured debt; (ii) $2.1 million from a deposit paid during the fourth quarter of 2014 and (iii) borrowings under our unsecured revolving credit facility. The assumed debt was recorded at fair value on the acquisition date, resulting in a premium of approximately $0.5 million.


(3)	This acquisition was funded with available cash on hand.


(4)	This acquisition was funded in part with available cash on hand and in part with borrowings under our unsecured revolving credit facility.


(5)	This acquisition was funded as follows: (i) $10.9 million from the assumption of secured debt and (ii) borrowings under our unsecured revolving credit facility. The assumed debt was recorded at fair value on the acquisition date, resulting in a premium of approximately $0.3 million.

The following table sets forth the wholly-owned industrial properties we acquired during the year ended December 31, 2014:



Property	Submarket	Date of Acquisition	Rentable Square Feet	Number of Buildings	Purchase Price (in thousands)
7110 Rosecrans Avenue⁽¹⁾	Los Angeles - South Bay	1/15/2014	72,000	1	$	4,969
14723-14825 Oxnard Street⁽¹⁾	Los Angeles - San Fernando Valley	1/22/2014	78,000	6	8,875
Ontario Airport Business Park⁽²⁾	Inland Empire West	2/12/2014	113,612	5	8,550
1500-1510 West 228th Street^(1)(2)(3)	Los Angeles - South Bay	2/25/2014	88,330	6	6,600
24105 & 24201 Frampton Avenue⁽¹⁾	Los Angeles - South Bay	3/20/2014	47,903	1	3,930
1700 Saturn Way⁽¹⁾	Orange County - West	4/17/2014	170,865	1	21,100
20531 Crescent Bay Drive⁽¹⁾	Orange County - South	5/30/2014	46,178	1	6,480
2980 & 2990 N. San Fernando Blvd.⁽⁴⁾	Los Angeles - San Fernando Valley	5/30/2014	130,800	1	15,425
2610 & 2701 S. Birch Street⁽¹⁾	OC Airport	6/5/2014	98,105	2	11,000
4051 Santa Ana St. & 701 Dupont Ave.⁽¹⁾	Inland Empire West	6/24/2014	111,890	2	10,200
9755 Distribution Avenue⁽⁵⁾	San Diego - Central	6/27/2014	47,666	1	5,425
9855 Distribution Avenue⁽⁵⁾	San Diego - Central	6/27/2014	60,819	1	8,525
9340 Cabot Drive⁽⁵⁾	San Diego - Central	6/27/2014	86,564	1	10,975
9404 Cabot Drive⁽⁵⁾	San Diego - Central	6/27/2014	46,846	1	6,400
9455 Cabot Drive⁽⁵⁾	San Diego - Central	6/27/2014	96,840	1	12,100
14955-14971 E. Salt Lake City⁽⁵⁾	Los Angeles - San Gabriel Valley	6/27/2014	126,036	1	10,850
5235 E. Hunter Avenue⁽⁵⁾	Orange County - North	6/27/2014	119,692	1	11,329
3880 West Valley Boulevard⁽⁵⁾	Los Angeles - San Gabriel Valley	6/27/2014	108,703	1	9,631
1601 Alton Parkway⁽⁵⁾	OC Airport	6/27/2014	124,000	1	13,276
3116 West Avenue 32⁽¹⁾	Los Angeles - San Fernando Valley	7/8/2014	100,500	1	11,000
Chatsworth Industrial Park⁽¹⁾	Los Angeles - San Fernando Valley	7/23/2014	153,212	7	16,800
24935 & 24955 Avenue Kearny⁽¹⁾	Los Angeles - San Fernando Valley	7/25/2014	138,980	2	11,510
605 8th Street⁽⁶⁾	Los Angeles - San Fernando Valley	8/26/2014	55,516	1	5,075
9120 Mason Avenue⁽⁶⁾	Los Angeles - San Fernando Valley	9/12/2014	319,348	1	30,500
679-691 S Anderson Street⁽⁶⁾	Los Angeles - Central LA	11/24/2014	47,490	1	6,490
7900 Nelson Road⁽⁶⁾	Los Angeles - San Fernando Valley	11/25/2014	203,082	1	24,287
13231 Slover Avenue⁽⁷⁾	Inland Empire West	12/3/2014	109,463	1	7,640
10509 Business Drive⁽⁷⁾	Inland Empire West	12/3/2014	130,788	1	9,040
240 West Ivy Avenue⁽¹⁾	Los Angeles - South Bay	12/5/2014	45,685	1	5,900
3120-3150 Paseo Mercado⁽⁷⁾	Ventura	12/9/2014	132,187	5	11,600
2350-2380 Eastman Avenue⁽⁷⁾	Ventura	12/9/2014	55,296	4	6,025
1800 Eastman Avenue⁽⁷⁾	Ventura	12/9/2014	33,332	1	3,250
2360-2364 E. Sturgis Road⁽⁷⁾	Ventura	12/9/2014	49,624	3	4,050
201 Rice Ave. & 2400-2420 Celsius⁽⁷⁾	Ventura	12/9/2014	137,785	3	13,725
11120-11200 Hindry Avenue⁽¹⁾	Los Angeles - South Bay	12/18/2014	63,654	3	11,910
6970-7374 Convoy Court⁽¹⁾	San Diego - Central	12/31/2014	187,763	13	32,325
Total 2014 Wholly-Owned Property Acquisitions			3,738,554	84	$	396,767


(1)	This acquisition was funded with borrowings under our unsecured revolving credit facility.


(2)	This acquisition was funded as part of a 1031 exchange using proceeds from the disposition of our property located at 1335 Park Center Drive.

(3)


(4)	In connection with the acquisition of 2980 and 2990 N. San Fernando Blvd. acquisition, we assumed debt with an outstanding principal balance of $10.3 million and an initial fair value premium of $0.3 million. The remaining purchase price was funded with borrowings under our unsecured revolving credit facility.


(5)	This property was acquired as part of an industrial portfolio consisting of nine properties. The portfolio was funded as follows: (i) a $48.5 million term loan secured by eight of these properties and (ii) borrowings under our unsecured revolving credit facility.


(6)	This acquisition was funded with available cash on hand.


(7)	This acquisition was funded in part with cash on hand and in part with borrowings under our unsecured revolving credit facility.

Acquisition of Other Interests

e following table summarizes the fair value of amounts recognized for each major class of asset and liability for the acquisitions noted in the table above, as of the date of acquisition (in thousands):



	Total 2015 Acquisitions		Total 2014 Acquisitions
Assets:
Land⁽¹⁾	$	124,660	$	151,954
Buildings and improvements⁽²⁾	106,496		216,651
Tenant improvements	4,792		6,817
Acquired lease intangible assets⁽³⁾	16,236		24,855
Other acquired assets⁽⁴⁾	128		1,444
Total assets acquired	252,312		401,721
Liabilities:
Acquired lease intangible liabilities⁽⁵⁾	1,713		2,482
Notes payable	17,097		10,565
Deferred rent liability	977		114
Other assumed liabilities⁽⁴⁾	1,926		4,898
Total liabilities assumed	21,713		18,059
Net assets acquired	230,599		383,662

(1)

(2)


(3)	For 2015 acquisitions, includes $12.1 million of in-place lease intangibles and $4.1 million of above-market tenant lease intangibles with a weighted average amortization period of 5.5 years and 11.9 years, respectively.


(4)	Includes other working capital assets acquired and liabilities assumed, respectively, at the time of acquisition.


(5)	For 2015 acquisitions, represents below-market tenant lease intangibles with a weighted average amortization period of 5.9 years.

Proforma Financial Information

e following table summarizes the results of operations for each of the properties acquired during the year ended December 31, 2015, included in the consolidated statements of operations from the date of acquisition (in thousands):



	Year Ended December 31, 2015
Revenues	$	8,130
Net Income	$	2,219



	Year Ended December 31,
	2015		2014
Revenues	$	106,618	$	87,485
Net operating income	$	76,872	$	61,778
Net income	$	7,307	$	5,779
Net income available to common stockholders per share - basic and diluted	$	0.13	$	0.16

Acquired Lease Intangibles (Tables)

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Acquired Lease Intangible Assets and Liabilities



	December 31,
	2015		2014
Acquired Lease Intangible Assets:
In-place lease intangibles	49,265		37,467
Accumulated amortization	(25,107	)	(12,975	)
In-place lease intangibles, net	24,158		24,492

Above-market tenant leases	9,062		4,971
Accumulated amortization	(2,837	)	(1,327	)
Above-market tenant leases, net	6,225		3,644
Acquired lease intangible assets, net	30,383		28,136

Acquired Lease Intangible Liabilities:
Below-market tenant leases	(5,227	)	(3,514	)
Accumulated accretion	2,053		743
Below-market tenant leases, net	(3,174	)	(2,771	)

Below-market ground lease	(290	)	(290	)
Accumulated accretion	77		45
Below-market ground lease, net	(213	)	(245	)
Acquired lease intangible liabilities, net	(3,387	)	(3,016	)

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):

Summary of Estimated Net Amortization Expense of Above Market Leases and In-place Lease Intangibles



	Rexford Industrial Realty, Inc.									Rexford Industrial Realty, Inc. Predecessor
	Year Ended December 31, 2015			Year Ended December 31, 2014			Period from July 24, 2013 to December 31, 2013			Period from January 1, 2013 to July 23, 2013
In-place lease intangibles⁽¹⁾	$	12,445		$	9,275		$	3,020		$	1,238
Net above (below) market tenant leases⁽²⁾	$	234		$	452		$	198		$	239
Above-market ground lease⁽³⁾	$	(32	)	$	(32	)	$	(13	)	$	—


(1)	The amortization of in-place lease intangibles is recorded to depreciation and amortization expense in the consolidated and combined statements of operations for the periods presented.


(2)	The amortization of above (below) market tenant leases is recorded as a decrease (increase) to rental revenues in the consolidated and combined 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 and combined statements of operations for the periods presented.

The following table summarizes the estimated amortization/(accretion) of our acquisition-related intangibles as of December 31, 2015 for the next five years (in thousands):



Year Ending	In-place Leases⁽¹⁾		Net Above/(Below) Market Operating Leases⁽²⁾		Above Market Ground Lease⁽³⁾
2016	$	9,823	$	163	$	(32	)
2017	5,768		379		(32		)
2018	3,620		321		(32		)
2019	2,467		380		(32		)
2020	1,182		243		(32		)
Thereafter	1,298		1,565		(53		)
Total	$	24,158	$	3,051	$	(213	)


(1)	Estimated amounts of amortization will be recorded to depreciation and amortization expense in the consolidated statements of operation.


(2)	Estimated amounts of amortization will be recorded as a net decrease to rental revenues in the consolidated statements of operations.


(3)	Estimated amounts of accretion will be recorded as a decrease to property expenses in the consolidated statements of operations.

Notes Receivable (Tables)

12 Months Ended

Dec. 31, 2015

Receivables [Abstract]

Summary of Notes Receivable

The following table summarizes the balance of our notes receivable (in thousands):



	December 31,
	2015		2014
Face Amount	$	—	$	13,896
Unrecognized Accretable Yield	—		(759		)
Note Receivable	$	—	$	13,137

Notes Payable (Tables)

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Summary of Notes Payable

The following table summarizes the balance of our indebtedness as of December 31, 2015 and 2014 (in thousands):



	December 31, 2015			December 31, 2014
Principal amount	$	418,698		$	357,076
Less: unamortized discount and deferred loan costs⁽¹⁾	(544		)	(714		)
Carrying value	$	418,154		$	356,362

The following table summarizes the components and significant terms of our indebtedness as of December 31, 2015 and 2014 (dollars in thousands):



	December 31, 2015					December 31, 2014
	Principal Amount		Unamortized Discount and Deferred Loan Costs			Principal Amount		Unamortized Discount and Deferred Loan Costs			Contractual Maturity Date		Stated Interest Rate⁽¹⁾			Effective Interest Rate⁽²⁾
Secured Debt
Term Loan⁽³⁾	$	60,000	$	(283	)	$	60,000	$	(362	)	8/1/2019	⁽⁴⁾	LIBOR+1.90%			3.95	%
Term Loan⁽⁵⁾	—		—			48,500		(330		)	6/24/2017		--			--
Glendale Commerce Center	—		—			42,750		—			5/1/2016		--			--
Gilbert/La Palma	3,044		(153		)	3,173		(161		)	3/1/2031		5.125	%	⁽⁶⁾	5.37	%
2980 San Fernando	—		—			10,153		139			7/1/2015		--			--
12907 Imperial Highway	5,299		303			—		—			4/1/2018		5.950	%	⁽⁷⁾	3.71	%
1065 Walnut Street	9,855		292			—		—			2/1/2019	⁽⁸⁾	4.550	%	⁽⁹⁾	3.54	%
Unsecured Debt
Term Loan Facility	100,000		—			100,000		—			6/11/2019		LIBOR+1.25%		⁽¹⁰⁾	2.36	%	⁽¹¹⁾
Revolving Credit Facility	140,500		—			92,500		—			6/11/2018	⁽⁴⁾	LIBOR+1.30%		^(10)(12)	1.73	%
Guaranteed Senior Notes	100,000		(703		)	—		—			8/6/2025		4.290	%		4.36	%
Total	$	418,698	$	(544	)	$	357,076	$	(714	)


⁽¹⁾	Reflects the contractual interest rate under the terms of the loan as of December 31, 2015.


⁽²⁾	Reflects the effective interest rate at December 31, 2015, which includes the effect of the amortization of discounts/premiums and deferred loan costs, and includes the effect of interest rate swaps that were effective as of December 31, 2015.


⁽³⁾	Loan is secured by six properties. As of December 31, 2015, the interest rate of this $60 million variable-rate term loan has been effectively fixed through the use of two interest rate swaps. See Note 8 for details.


⁽⁴⁾	One additional one-year extension available at the borrower’s option.


⁽⁵⁾	Loan was secured by eight properties.


⁽⁶⁾	Monthly payments of interest and principal based on 20-year amortization table.


⁽⁷⁾	Monthly payments of interest and principal based on 30-year amortization table, with a balloon payment at maturity.


⁽⁸⁾	One additional five-year extension available at the borrower’s option.


⁽⁹⁾	Monthly payments of interest and principal based on 25-year amortization table, with a balloon payment at maturity.


⁽¹⁰⁾	The LIBOR margin will range from 1.25% to 1.85% for the term loan facility and 1.30% to 1.90% for the revolving credit facility depending on the ratio of our outstanding consolidated indebtedness to the value of our consolidated gross asset value, which is measured on a quarterly basis.


⁽¹¹⁾	As of December 31, 2015, interest on $50 million of this $100 million term loan has been effectively fixed through the use of an interest rate swap. See Note 8 for details.


⁽¹²⁾	The facility additionally bears interest at 0.30% or 0.20% of the daily undrawn amount of the unsecured revolving credit facility if the balance is under $100 million or over $100 million, respectively.

Summary of Aggregate Future Minimum Payments of Debt

Operating Leases (Tables)

12 Months Ended

Dec. 31, 2015

Leases, Operating [Abstract]

Future Minimum Base Rent Under Non-cancelable Operating Leases

Future minimum base rent under operating leases as of December 31, 2015 is summarized as follows (in thousands):



For the year ending December 31:
2016	$	81,905
2017	62,110
2018	45,714
2019	34,964
2020	24,751
Thereafter	60,487
Total	$	309,931

Interest Rate Contracts (Tables)

12 Months Ended

Dec. 31, 2015

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 at December 31, 2015 and 2014 (dollars in thousands):



					Fair Value⁽¹⁾				Current Notional Amount⁽²⁾
Derivative Instrument	Effective Date	Maturity Date	Interest Strike Rate		December 31, 2015		December 31, 2014		December 31, 2015		December 31, 2014
Liabilities:
Interest Rate Swap	1/15/2015	2/15/2019	1.826	%	$	538	$	457	$	30,000	$	—
Interest Rate Swap	7/15/2015	2/15/2019	2.010	%	$	698	$	408	$	30,000	$	—
Interest Rate Swap	8/14/2015	12/14/2018	1.790	%	$	849	$	277	$	50,000	$	—
Interest Rate Swap	2/16/2016	12/14/2018	2.005	%	$	1,059	$	260	$	—	$	—

(1)


(2)	Represents the notional amount of swaps that are effective as of the balance sheet date noted.

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 and combined statements of operations for the periods presented (in thousands):



	Rexford Industrial Realty, Inc.								Rexford Industrial Realty, Inc. Predecessor
	Year Ended December 31, 2015			Year Ended December 31, 2014			Period From July 24, 2013 to December 31, 2013		Period From January 1, 2013 to July 23, 2013
Interest Rate Swaps in Cash Flow Hedging Relationships:
Amount of gain (loss) recognized in AOCI on derivatives (effective portion)	$	(2,781	)	$	(1,402	)	$	—	$	—
Amount of gain (loss) reclassified from AOCI into earnings under “Interest expense” (effective portion)	$	(1,039	)	$	—		$	—	$	—
Amount of gain (loss) recognized in earnings under “Interest expense” (ineffective portion and amount excluded from effectiveness testing)	$	—		$	—		$	—	$	—
Interest Rate Swaps Not in Cash Flow Hedging Relationships:
Amount of realized and unrealized gain recognized in earnings under “Gain on mark-to-market of interest rate swaps”	$	—		$	—		$	—	$	49

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2015

Fair Value Disclosures [Abstract]

Assets Measures at Fair Vale on a Recurring Basis by Level within Fair Value Hierarchy



	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)
Interest Rate Swaps at:
December 31, 2015	$	(3,144	)	$	—	$	(3,144	)	$	—
December 31, 2014	$	(1,402	)	$	—	$	(1,402	)	$	—

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, 2015 and 2014 (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, 2015	$	416,497	$	—	$	—	$	416,497	$	418,154
December 31, 2014	$	357,212	$	—	$	—	$	357,212	$	356,362

Commitments and contingencies (Tables)	12 Months Ended
Commitments and contingencies (Tables)	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Future Minimum Commitment Under Ground Lease and Corporate Office Lease	pire on June 1, 2062. The future minimum commitment under our ground lease and corporate office lease as of December 31, 2015 is as follows (in

- Definition

Tabular disclosure of a lessee's leasing arrangements including: (1) the basis on which contingent rental payments are determined, (2) the existence and terms of renewal or purchase options and escalation clauses, (3) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included.

+ References + Details

Investment in Unconsolidated Real Estate (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of Investments [Abstract]

Summarized Information of Our Equity Method Investment Properties



	December 31,
	2015			2014
Assets	$	24,280		$	23,542
Liabilities	(1,250		)	(1,274		)
Partners’/members’ equity	$	23,030		$	22,268
Company’s share of equity	$	3,455		$	3,340
Basis adjustment⁽¹⁾	632			678
Carrying value of the Company’s investment in unconsolidated real estate	$	4,087		$	4,018


(1)	This amount represents the difference between our historical cost basis and the basis reflected at the joint venture level, resulting from the contribution of our equity interest as part of our formation transactions that occurred on July 24, 2013.



	December 31, 2015⁽¹⁾			December 31, 2014⁽¹⁾			Period from July 24, 2013 to December 31, 2013⁽¹⁾		Period from January 1, 2013 to July 23, 2013⁽²⁾
Revenues	$	2,673		$	7,018		$	1,440	$	6,516
Expenses	(1,911		)	(6,526		)	226		(7,296		)
Gain on sale of properties	—			13,389			—		—
Net income (loss)	$	762		$	13,881		$	1,666	$	(780	)


(1)	Includes summarized financial information for our equity method investment properties located at 3001-3233 Mission Oaks Boulevard.


(2)	Includes summarized financial information for properties located at 3001-3233 Mission Oaks Boulevard and 10439-10477 Roselle Street.

Dispositions, Discontinued Operations and Properties Held for Sale (Tables)

12 Months Ended

Dec. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Summary of the Properties Sold

The table below summarizes the properties sold during the years ended December 31, 2014, and 2013 (dollars in thousands).



Address	Location	Date of Disposition	Rentable Square Feet	Sales Price		Debt Satisfied⁽¹⁾		Gain (Loss) Recorded
2014 Dispositions:
1335 Park Center Drive⁽²⁾	Vista, CA	1/29/2014	124,997	$	10,103	$	—	$	2,262
2900 N. Madera Road⁽²⁾	Simi Valley, CA	3/13/2014	63,305	$	4,350	$	—	$	(137	)
500-560 Zenith Drive⁽³⁾	Glenview, IL	8/29/2014	37,992	$	1,822	$	—	$	(150	)
2013 Dispositions:
4578 Worth Street⁽²⁾	Los Angeles, CA	1/31/2013	79,370	$	4,100	$	2,500	$	2,410
1950 E. Williams Drive⁽²⁾	Oxnard, CA	4/4/2013	161,682	$	8,542	$	2,993	$	415
9027 Glenoaks Boulevard⁽²⁾	Los Angeles, CA	5/10/2013	14,700	$	1,727	$	1,625	$	234
2515, 2507, 2441 W. Erie Dr. & 2929 S. Fair Lane⁽²⁾	Tempe, AZ	5/28/2013	83,385	$	5,003	$	3,531	$	1,015
1255 Knollwood Circle⁽²⁾	Anaheim, CA	6/14/2013	25,162	$	2,768	$	2,630	$	915


(1)	Amount represents the principal paid back to the lender to release the property from a larger pool of properties serving as collateral for the respective portfolio loan.


(2)	The results of operations and the gain or loss on sale of this property is reported under Discontinued Operations in the Consolidated and Combined Statements of Operations.


(3)	The results of operations and the loss on sale of this property are reported as part of Net loss from continuing operations in the Consolidated and Combined Statements of Operations.

Results of Operations



	Rexford Industrial Realty, Inc.								Rexford Industrial Realty, Inc. Predecessor
	Year Ended December 31, 2015		Year Ended December 31, 2014			Period from July 24, 2013 to December 31, 2013			Period from January 1, 2013 to July 23, 2013
Revenues	$	—	$	85		$	472		$	604
Operating expenses	—		(57		)	(89		)	(312		)
Interest expense	—		—			—			(325		)
Depreciation and amortization expense	—		(7		)	(92		)	(776		)
Loss on extinguishment of debt	—		—			—			(267		)
Gain on sale of real estate	—		2,125			—			4,989
Income from discontinued operations	$	—	$	2,146		$	291		$	3,913

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Stockholder's Equity (Tables)

12 Months Ended

Dec. 31, 2015

Equity [Abstract]

Summary of the Components of Changes in Accumulated Other Comprehensive Loss



	2015			2014
Accumulated other comprehensive loss - beginning balance	$	(1,331	)	$	—
Other comprehensive loss before reclassifications	(2,781		)	(1,402		)
Amounts reclassified from accumulated other comprehensive loss to interest expense	1,039			—
Net current period other comprehensive loss	(1,742		)	(1,402		)
Less other comprehensive loss attributable to noncontrolling interests	40			71
Other comprehensive loss attributable to common stockholders	(1,702		)	(1,331		)
Accumulated other comprehensive loss - ending balance	$	(3,033	)	$	(1,331	)

Schedule Of Federal Income Tax Treatment For Distributions

The following unaudited table summarizes the federal income tax treatment for all distributions for the years ended December 31, 2015 and 2014 and the period from July 24, 2013 to December 31, 2013.



	Year Ended December 31, 2015				Year Ended December 31, 2014					Period From July 24, 2013 to December 31, 2013
Ordinary Income	$	0.4789478	93.91	%	$	0.4607500		92.15	%	$	0.1900000	100.00	%
Return of Capital	—		—	%	—			—	%	—		—	%
Capital Gain	0.0310522		6.09	%	0.0392500		⁽¹⁾	7.85	%	—		—	%
Total	$	0.5100000	100.00	%	$	0.5000000		100.00	%	$	0.1900000	100.00	%

(1)19.0% of the capital gain is comprised of an unrecaptured Section 1250 gain.

Incentive Award Plan (Tables)

12 Months Ended

Dec. 31, 2015

Equity [Abstract]

Total Shareholder Return Levels And Vesting Percentages

The TSR levels and vesting percentages for the absolute TSR base units and relative TSR base units are summarized in the following table:



	Absolute TSR Base Units				Relative TSR Base Units
	Company TSR Percentage⁽¹⁾		Absolute TSR Vesting Percentage		Peer Group Relative Performance⁽¹⁾	Relative TSR Vesting Percentage
	< 24%		—	%	< 50th Percentile	—	%
“Threshold Level”	24	%	20	%	50th Percentile	20	%
“Target Level”	37	%	60	%	62.5th Percentile	60	%
“Maximum Level”	≥ 50%		100	%	≥ 75th Percentile	100	%


(1)	If the Company’s TSR percentage or the peer group relative performance falls between the levels specified in the table, the percentage of absolute base units or relative base units that vest will be determined using straight-line interpolation between such levels.

Schedule of Unvested Restricted Stock Activity

The following table sets forth our unvested restricted stock activity for the year ended December 31, 2015 and 2014:



	Number of Unvested Shares of Restricted Common Stock		Weighted-Average Grant Date Fair Value per Share
Balance at December 31, 2013	140,468		$	14.00
Granted	243,233		$	14.40
Forfeited	(29,664	)	$	14.04
Vested⁽¹⁾⁽²⁾	(34,020	)	$	14.00
Balance at December 31, 2014	320,017		$	14.30
Granted	152,103		$	15.34
Forfeited	(31,925	)	$	14.54
Vested⁽¹⁾⁽²⁾	(106,754	)	$	14.34
Balance at December 31, 2015	333,441		$	14.74


(1)	The total fair value of shares that vested during the years ended December 31, 2015 and 2014 was $1.6 million and $0.5 million, respectively, calculated as the number of shares vested multiplied by the closing share price of the Company’s common stock on the vesting date.

(2)

Vesting Schedule of the Unvested Shares of Restricted Stock Outstanding

e following table sets forth the vesting schedule of total unvested shares of restricted stock outstanding as of December 31, 2015:



Twelve months ending December 31:	Shares
2016	128,470
2017	139,325
2018	44,268
2019	21,378
	333,441

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2015

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, 2015			Year Ended December 31, 2014			Period from July 24, 2013 to December 31, 2013
Numerator:
Net income (loss) from continuing operations	$	1,950		$	(1,170	)	$	(1,002	)
Net income (loss) from continuing operations attributable to noncontrolling interests	(76		)	97			121
Income from continuing operations attributable to participating securities	(223		)	(102		)	(29		)
Income (loss) from continuing operations attributable to common stockholders	$	1,651		$	(1,175	)	$	(910	)
Income from discontinued operations	$	—		$	2,146		$	291
Income from discontinued operations attributable to noncontrolling interests	—			(177		)	(35		)
Income from discontinued operations attributable to participating securities	—			—			—
Income from discontinued operations attributable to common stockholders	$	—		$	1,969		$	256
Net income (loss)	$	1,950		$	976		$	(711	)
Net (income) loss attributable to noncontrolling interests	(76		)	(80		)	86
Net income attributable to participating securities	(223		)	(102		)	(29		)
Net income (loss) attributable to common stockholders	$	1,651		$	794		$	(654	)
Denominator:
Weighted average shares of common stock outstanding - basic and diluted	54,024,923			31,953,506			24,925,226
Earnings per share - Basic and Diluted:
Net income (loss) from continuing operations available to common stockholders	$	0.03		$	(0.04	)	$	(0.04	)
Net income from discontinued operations available to common stockholders	$	—		$	0.06		$	0.01
Net income (loss) available to common stockholders	$	0.03		$	0.02		$	(0.03	)

Quarterly Information (unaudited) (Tables)

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Information

The following tables set forth selected quarterly information for the years ended December 31, 2015 and 2014 (in thousands except per share amounts):



	Three Months Ended
	December 31, 2015		September 30, 2015		June 30, 2015		March 31, 2015
Revenues from continuing operations	$	26,164	$	23,674	$	22,722	$	21,340
Net operating income⁽¹⁾	$	18,941	$	17,098	$	16,407	$	15,160
Net income from continuing operations	$	1,056	$	617	$	196	$	81
Net income	$	1,056	$	617	$	196	$	81
Net income attributable to common stockholders	$	945	$	540	$	139	$	27
Net income attributable to common stockholders per share - basic and diluted	$	0.02	$	0.01	$	—	$	—



	Three Months Ended
	December 31, 2014		September 30, 2014			June 30, 2014		March 31, 2014
Revenues from continuing operations	$	19,858	$	18,036		$	14,996	$	13,691
Net operating income⁽¹⁾	$	13,893	$	12,705		$	10,577	$	9,047
Net income (loss) from continuing operations	$	145	$	(679	)	$	81	$	(717	)
Income from discontinued operations	$	—	$	—		$	—	$	2,146
Net income (loss)	$	145	$	(679	)	$	81	$	1,429
Net income (loss) attributable to common stockholders	$	107	$	(623	)	$	49	$	1,261
Net income (loss) attributable to common stockholders per share - basic and diluted	$	—	$	(0.02	)	$	—	$	0.05


(1)	Net operating income is calculated as total rental revenues from real estate operations including (i) rental income, (ii) tenant reimbursements and (iii) other income less property expenses.

Organization - Additional Information (Detail) ft² in Millions	Dec. 31, 2015 ft² property
Real Estate Properties [Line Items]
Number of real estate properties \| property	119
Area of real estate property \| ft²	12.0
Number of real estate properties additionally managed \| property	19
Area of real estate property additionally managed \| ft²	1.2
Maximum
Real Estate Properties [Line Items]
Ownership Interest	100.00%
Joint Venture
Real Estate Properties [Line Items]
Area of real estate property \| ft²	0.5
Interest percentage owned in joint venture of real estate properties	15.00%
Number of real estate properties owned in joint venture \| property	1

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	5 Months Ended	7 Months Ended	12 Months Ended
	Dec. 31, 2013	Jul. 23, 2013	Dec. 31, 2015	Dec. 31, 2014
Summary Of Significant Accounting Policies [Line Items]
Asset acquisition capitalized acquisition costs	$ 200,000	$ 0	$ 700,000	$ 300,000
Interest costs capitalized	0	0	800,000	42,000
Real estate taxes and insurance costs capitalized	0	0	800,000	100,000
Impairment charges	0	0	0	0
Income tax provision	0	0	$ 0	0
REIT annual taxable income distribution requirement percentage			90.00%
Provision for doubtful accounts	200,000	300,000	$ 1,500,000	700,000
Reserve for allowance for doubtful accounts			$ (2,000,000)	(1,000,000)
Minimum
Summary Of Significant Accounting Policies [Line Items]
Fair value inputs, discount rate			7.00%
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
Summary Of Significant Accounting Policies [Line Items]
Fair value inputs, discount rate			11.75%
Maximum \| Building
Summary Of Significant Accounting Policies [Line Items]
Estimated remaining life			30 years
Maximum \| Site Improvements
Summary Of Significant Accounting Policies [Line Items]
Estimated remaining life			20 years
Construction Employees
Summary Of Significant Accounting Policies [Line Items]
Compensation costs capitalized	200,000	100,000	$ 900,000	600,000
Leasing Employees
Summary Of Significant Accounting Policies [Line Items]
Compensation costs capitalized	$ 200,000	$ 200,000	$ 500,000	$ 500,000

Investments in Real Estate - Acquisitions - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2015 USD ($) a building	Dec. 31, 2014 USD ($) a property building	Jun. 27, 2014 USD ($)	Feb. 25, 2014 USD ($)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Rentable Square Feet \| a	2,129,753	3,738,554
Number of Buildings \| building	39	84
Purchase Price (in thousands)	$ 247,579	$ 396,767
Deposits paid				$ 1,400
Holdback escrow seller funded				$ 1,300
Debt assumed	17,097	10,565
Deferred rent liability	$ 977	$ 114
8902-8940 Activity Road
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket	San Diego - Central
Date of Acquisition	Jan. 21, 2015
Rentable Square Feet \| a	112,501
Number of Buildings \| building	5
Purchase Price (in thousands)	$ 18,450
12907 Imperial Highway
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket	Los Angeles - Mid-counties
Date of Acquisition	Jan. 21, 2015
Rentable Square Feet \| a	101,080
Number of Buildings \| building	1
Purchase Price (in thousands)	$ 12,180
Deposits paid	2,100
Debt assumed	5,400
Fair value premium of assumed debt	$ 500
1210 North Red Gum Street
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket	Orange County - North
Date of Acquisition	Mar. 09, 2015
Rentable Square Feet \| a	64,570
Number of Buildings \| building	1
Purchase Price (in thousands)	$ 7,650
9401 De Soto Avenue
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket	Los Angeles - San Fernando Valley
Date of Acquisition	Mar. 18, 2015
Rentable Square Feet \| a	150,263
Number of Buildings \| building	1
Purchase Price (in thousands)	$ 14,075
9615 Norwalk Boulevard
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket	Los Angeles - Mid-counties
Date of Acquisition	Apr. 30, 2015
Rentable Square Feet \| a	38,362
Number of Buildings \| building	2
Purchase Price (in thousands)	$ 9,642
16221 Arthur Street
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket	Los Angeles - Mid-counties
Date of Acquisition	May 01, 2015
Rentable Square Feet \| a	61,372
Number of Buildings \| building	1
Purchase Price (in thousands)	$ 5,774
2588 And 2605 Industry Way
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket	Los Angeles - South Bay
Date of Acquisition	May 12, 2015
Rentable Square Feet \| a	164,662
Number of Buildings \| building	2
Purchase Price (in thousands)	$ 22,000
425 South Hacienda Boulevard
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket	Los Angeles - San Gabriel Valley
Date of Acquisition	May 15, 2015
Rentable Square Feet \| a	51,823
Number of Buildings \| building	1
Purchase Price (in thousands)	$ 7,000
6700 Alameda Street
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket	Los Angeles - Central LA
Date of Acquisition	Jun. 29, 2015
Rentable Square Feet \| a	78,280
Number of Buildings \| building	1
Purchase Price (in thousands)	$ 14,500
12720-12860 Danielson Court
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket	San Diego - Central
Date of Acquisition	Jul. 10, 2015
Rentable Square Feet \| a	112,062
Number of Buildings \| building	6
Purchase Price (in thousands)	$ 16,900
10950 Norwalk Boulevard
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket	Los Angeles - Mid-counties
Date of Acquisition	Jul. 29, 2015
Rentable Square Feet \| a	18,995
Number of Buildings \| building	1
Purchase Price (in thousands)	$ 4,973
610-760 Hueneme Road
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket	Ventura
Date of Acquisition	Aug. 11, 2015
Rentable Square Feet \| a	86,904
Number of Buildings \| building	2
Purchase Price (in thousands)	$ 9,607
10709-10719 Norwalk Boulevard
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket	Los Angeles - Mid-counties
Date of Acquisition	Sep. 01, 2015
Rentable Square Feet \| a	58,056
Number of Buildings \| building	2
Purchase Price (in thousands)	$ 7,242
6020 Sheila Street
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket	Los Angeles - Central LA
Date of Acquisition	Sep. 18, 2015
Rentable Square Feet \| a	70,877
Number of Buildings \| building	1
Purchase Price (in thousands)	$ 12,220
9805 6th Street
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket	Inland Empire West
Date of Acquisition	Sep. 30, 2015
Rentable Square Feet \| a	81,377
Number of Buildings \| building	1
Purchase Price (in thousands)	$ 6,894
16321-16327 Arrow Hwy
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket	Los Angeles - San Gabriel Valley
Date of Acquisition	Oct. 14, 2015
Rentable Square Feet \| a	64,296
Number of Buildings \| building	3
Purchase Price (in thousands)	$ 8,120
2535 Midway Drive
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket	San Diego - Central
Date of Acquisition	Oct. 22, 2015
Rentable Square Feet \| a	373,744
Number of Buildings \| building	2
Purchase Price (in thousands)	$ 19,295
601-605 Milliken Avenue
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket	Inland Empire West
Date of Acquisition	Dec. 08, 2015
Rentable Square Feet \| a	128,322
Number of Buildings \| building	3
Purchase Price (in thousands)	$ 13,000
1065 E. Walnut Street
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket	Los Angeles - South Bay
Date of Acquisition	Dec. 11, 2015
Rentable Square Feet \| a	172,420
Number of Buildings \| building	1
Purchase Price (in thousands)	$ 16,700
Debt assumed	10,900
Fair value premium of assumed debt	$ 300
Distribution Ave., Cabot Drive, Salt Lake City St., E. Hunter Ave., W. Valley Blvd., And Alton Parkway Properties [Member]
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Number of properties acquired \| property		9
Number of properties securing loan \| property		8
12247 Lakeland Road
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket	Los Angeles - Mid-counties
Date of Acquisition	Dec. 16, 2015
Rentable Square Feet \| a	24,875
Number of Buildings \| building	1
Purchase Price (in thousands)	$ 4,257
17311 Nichols Lane
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket	Orange County - West
Date of Acquisition	Dec. 30, 2015
Rentable Square Feet \| a	114,912
Number of Buildings \| building	1
Purchase Price (in thousands)	$ 17,100
7110 Rosecrans Avenue
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		Los Angeles - South Bay
Date of Acquisition		Jan. 15, 2014
Rentable Square Feet \| a		72,000
Number of Buildings \| building		1
Purchase Price (in thousands)		$ 4,969
14723-14825 Oxnard Street(1)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		Los Angeles - San Fernando Valley
Date of Acquisition		Jan. 22, 2014
Rentable Square Feet \| a		78,000
Number of Buildings \| building		6
Purchase Price (in thousands)		$ 8,875
Ontario Airport Business Park(2)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		Inland Empire West
Date of Acquisition		Feb. 12, 2014
Rentable Square Feet \| a		113,612
Number of Buildings \| building		5
Purchase Price (in thousands)		$ 8,550
1500-1510 West 228th Street
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		Los Angeles - South Bay
Date of Acquisition		Feb. 25, 2014
Rentable Square Feet \| a		88,330
Number of Buildings \| building		6
Purchase Price (in thousands)		$ 6,600
Contingent liabilities, remediate potential environmental liabilities		1,200
Holdback escrow seller funded		$ 1,300
24105 & 24201 Frampton Avenue(1)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		Los Angeles - South Bay
Date of Acquisition		Mar. 20, 2014
Rentable Square Feet \| a		47,903
Number of Buildings \| building		1
Purchase Price (in thousands)		$ 3,930
1700 Saturn Way(1)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		Orange County - West
Date of Acquisition		Apr. 17, 2014
Rentable Square Feet \| a		170,865
Number of Buildings \| building		1
Purchase Price (in thousands)		$ 21,100
20531 Crescent Bay Drive(1)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		Orange County - South
Date of Acquisition		May 30, 2014
Rentable Square Feet \| a		46,178
Number of Buildings \| building		1
Purchase Price (in thousands)		$ 6,480
2980-2990 North San Fernando Road
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		Los Angeles - San Fernando Valley
Date of Acquisition		May 30, 2014
Rentable Square Feet \| a		130,800
Number of Buildings \| building		1
Purchase Price (in thousands)		$ 15,425
Debt assumed		10,300
Fair value premium of assumed debt		$ 300
2610 And 2701 S. Birch Street
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		OC Airport
Date of Acquisition		Jun. 05, 2014
Rentable Square Feet \| a		98,105
Number of Buildings \| building		2
Purchase Price (in thousands)		$ 11,000
4051 Santa Ana St. & 701 Dupont Ave.(1)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		Inland Empire West
Date of Acquisition		Jun. 24, 2014
Rentable Square Feet \| a		111,890
Number of Buildings \| building		2
Purchase Price (in thousands)		$ 10,200
9755 Distribution Avenue(5)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		San Diego - Central
Date of Acquisition		Jun. 27, 2014
Rentable Square Feet \| a		47,666
Number of Buildings \| building		1
Purchase Price (in thousands)		$ 5,425
9855 Distribution Avenue(5)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		San Diego - Central
Date of Acquisition		Jun. 27, 2014
Rentable Square Feet \| a		60,819
Number of Buildings \| building		1
Purchase Price (in thousands)		$ 8,525
9340 Cabot Drive(5)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		San Diego - Central
Date of Acquisition		Jun. 27, 2014
Rentable Square Feet \| a		86,564
Number of Buildings \| building		1
Purchase Price (in thousands)		$ 10,975
9404 Cabot Drive(5)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		San Diego - Central
Date of Acquisition		Jun. 27, 2014
Rentable Square Feet \| a		46,846
Number of Buildings \| building		1
Purchase Price (in thousands)		$ 6,400
9455 Cabot Drive(5)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		San Diego - Central
Date of Acquisition		Jun. 27, 2014
Rentable Square Feet \| a		96,840
Number of Buildings \| building		1
Purchase Price (in thousands)		$ 12,100
14955-14971 E. Salt Lake City(5)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		Los Angeles - San Gabriel Valley
Date of Acquisition		Jun. 27, 2014
Rentable Square Feet \| a		126,036
Number of Buildings \| building		1
Purchase Price (in thousands)		$ 10,850
5235 E. Hunter Avenue(5)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		Orange County - North
Date of Acquisition		Jun. 27, 2014
Rentable Square Feet \| a		119,692
Number of Buildings \| building		1
Purchase Price (in thousands)		$ 11,329
3880 West Valley Boulevard(5)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		Los Angeles - San Gabriel Valley
Date of Acquisition		Jun. 27, 2014
Rentable Square Feet \| a		108,703
Number of Buildings \| building		1
Purchase Price (in thousands)		$ 9,631
1601 Alton Parkway(5)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		OC Airport
Date of Acquisition		Jun. 27, 2014
Rentable Square Feet \| a		124,000
Number of Buildings \| building		1
Purchase Price (in thousands)		$ 13,276
3116 West Avenue 32
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		Los Angeles - San Fernando Valley
Date of Acquisition		Jul. 08, 2014
Rentable Square Feet \| a		100,500
Number of Buildings \| building		1
Purchase Price (in thousands)		$ 11,000
Chatsworth Industrial Park(1)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		Los Angeles - San Fernando Valley
Date of Acquisition		Jul. 23, 2014
Rentable Square Feet \| a		153,212
Number of Buildings \| building		7
Purchase Price (in thousands)		$ 16,800
24935 & 24955 Avenue Kearny(1)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		Los Angeles - San Fernando Valley
Date of Acquisition		Jul. 25, 2014
Rentable Square Feet \| a		138,980
Number of Buildings \| building		2
Purchase Price (in thousands)		$ 11,510
605 8th Street
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		Los Angeles - San Fernando Valley
Date of Acquisition		Aug. 26, 2014
Rentable Square Feet \| a		55,516
Number of Buildings \| building		1
Purchase Price (in thousands)		$ 5,075
9120 Mason Avenue(6)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		Los Angeles - San Fernando Valley
Date of Acquisition		Sep. 12, 2014
Rentable Square Feet \| a		319,348
Number of Buildings \| building		1
Purchase Price (in thousands)		$ 30,500
679-691 S Anderson Street(6)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		Los Angeles - Central LA
Date of Acquisition		Nov. 24, 2014
Rentable Square Feet \| a		47,490
Number of Buildings \| building		1
Purchase Price (in thousands)		$ 6,490
7900 Nelson Road
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		Los Angeles - San Fernando Valley
Date of Acquisition		Nov. 25, 2014
Rentable Square Feet \| a		203,082
Number of Buildings \| building		1
Purchase Price (in thousands)		$ 24,287
13231 Slover Avenue(7)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		Inland Empire West
Date of Acquisition		Dec. 03, 2014
Rentable Square Feet \| a		109,463
Number of Buildings \| building		1
Purchase Price (in thousands)		$ 7,640
10509 Business Drive(7)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		Inland Empire West
Date of Acquisition		Dec. 03, 2014
Rentable Square Feet \| a		130,788
Number of Buildings \| building		1
Purchase Price (in thousands)		$ 9,040
240 West Ivy Avenue(1)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		Los Angeles - South Bay
Date of Acquisition		Dec. 05, 2014
Rentable Square Feet \| a		45,685
Number of Buildings \| building		1
Purchase Price (in thousands)		$ 5,900
3120-3150 Paseo Mercado(7)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		Ventura
Date of Acquisition		Dec. 09, 2014
Rentable Square Feet \| a		132,187
Number of Buildings \| building		5
Purchase Price (in thousands)		$ 11,600
2350-2380 Eastman Avenue(7)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		Ventura
Date of Acquisition		Dec. 09, 2014
Rentable Square Feet \| a		55,296
Number of Buildings \| building		4
Purchase Price (in thousands)		$ 6,025
1800 Eastman Avenue(7)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		Ventura
Date of Acquisition		Dec. 09, 2014
Rentable Square Feet \| a		33,332
Number of Buildings \| building		1
Purchase Price (in thousands)		$ 3,250
2360-2364 E. Sturgis Road(7)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		Ventura
Date of Acquisition		Dec. 09, 2014
Rentable Square Feet \| a		49,624
Number of Buildings \| building		3
Purchase Price (in thousands)		$ 4,050
201 Rice Ave. & 2400-2420 Celsius(7)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		Ventura
Date of Acquisition		Dec. 09, 2014
Rentable Square Feet \| a		137,785
Number of Buildings \| building		3
Purchase Price (in thousands)		$ 13,725
11120-11200 Hindry Avenue(1)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		Los Angeles - South Bay
Date of Acquisition		Dec. 18, 2014
Rentable Square Feet \| a		63,654
Number of Buildings \| building		3
Purchase Price (in thousands)		$ 11,910
6970-7374 Convoy Court(1)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket		San Diego - Central
Date of Acquisition		Dec. 31, 2014
Rentable Square Feet \| a		187,763
Number of Buildings \| building		13
Purchase Price (in thousands)		$ 32,325
Term Loan \| Line of Credit \| Distribution Ave., Cabot Drive, Salt Lake City St., E. Hunter Ave., W. Valley Blvd., And Alton Parkway Properties [Member]
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Face amount			$ 48,500

Investments in Real Estate - Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Detail 2) - USD ($) $ in Thousands	5 Months Ended	7 Months Ended	12 Months Ended
	Dec. 31, 2013	Jul. 23, 2013	Dec. 31, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Asset acquisition capitalized acquisition costs	$ 200	$ 0	$ 700	$ 300
Assets:
Land			124,660	151,954
Buildings and Improvements			106,496	216,651
Tenant improvements			4,792	6,817
Acquired lease intangible assets			16,236	24,855
Other acquired assets			128	1,444
Total assets acquired			252,312	401,721
Liabilities:
Acquired lease intangible liabilities			1,713	2,482
Notes payable			17,097	10,565
Deferred rent liability			977	114
Other assumed liabilities			1,926	4,898
Net assets acquired			21,713	18,059
Total			$ 230,599	383,662
In-place Lease Intangibles
Business Acquisition [Line Items]
Amortization period of acquired intangible assets			5 years 6 months
Assets:
Acquired lease intangible assets			$ 12,100
Above Market Tenant Leases
Business Acquisition [Line Items]
Amortization period of acquired intangible assets			11 years 10 months 24 days
Assets:
Acquired lease intangible assets			$ 4,100
Below Market Lease
Business Acquisition [Line Items]
Amortization period of acquired intangible assets			5 years 10 months 24 days
Land \| 9401 De Soto Ave., 16221 Arthur St., 425 Hacienda Blvd., 6020 Sheila St., and 2535 Midway
Business Acquisition [Line Items]
Asset acquisition capitalized acquisition costs			$ 400
Land \| 7110 Rosecrans Avenue, 2610 and 27010 S. Birch Street, and 7900 Nelson Road
Business Acquisition [Line Items]
Asset acquisition capitalized acquisition costs				200
Buildings and Improvements \| 7110 Rosecrans Avenue, 2610 and 27010 S. Birch Street, and 7900 Nelson Road
Business Acquisition [Line Items]
Asset acquisition capitalized acquisition costs				$ 100
Buildings and Improvements \| 16221 Arthur St., 425 Hacienda Blvd., 6020 Sheila St., and 2535 Midway
Business Acquisition [Line Items]
Asset acquisition capitalized acquisition costs			$ 300

Investments in Real Estate - Summary of Combined Results from Operations of Acquisitions (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2015 USD ($)
Investments, All Other Investments [Abstract]
Revenues	$ 8,130
Net Income	$ 2,219

Investments in Real Estate - Proforma Financial Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Investments, All Other Investments [Abstract]
Revenues	$ 106,618	$ 87,485
Net operating income	76,872	61,778
Net income	$ 7,307	$ 5,779
Net income available to common stockholders per share - basic and diluted	$ 0.13	$ 0.16

Acquired Lease Intangibles - Summary of Acquired Lease Intangible Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Acquired Finite Lived Intangible Assets [Line Items]
Acquired lease intangible assets, net	$ 30,383	$ 28,136
Acquired lease intangible liabilities, net	(3,387)	(3,016)
In-place Lease Intangibles
Acquired Finite Lived Intangible Assets [Line Items]
Acquired lease intangible assets, gross	49,265	37,467
Accumulated amortization	(25,107)	(12,975)
Acquired lease intangible assets, net	24,158	24,492
Above Market Tenant Leases
Acquired Finite Lived Intangible Assets [Line Items]
Acquired lease intangible assets, gross	9,062	4,971
Accumulated amortization	(2,837)	(1,327)
Acquired lease intangible assets, net	6,225	3,644
Below Market Tenant Leases
Acquired Finite Lived Intangible Assets [Line Items]
Acquired lease intangible liabilities, gross	(5,227)	(3,514)
Accumulated accretion	2,053	743
Acquired lease intangible liabilities, net	(3,174)	(2,771)
Above Market Ground Lease
Acquired Finite Lived Intangible Assets [Line Items]
Acquired lease intangible assets, net	213
Acquired lease intangible liabilities, gross	(290)	(290)
Accumulated accretion	77	45
Acquired lease intangible liabilities, net	$ (213)	$ (245)

Acquired Lease Intangibles - Summary of Amortization or Accretion Recorded During the Period Related to Acquired Lease Intangibles (Detail) - USD ($) $ in Thousands	5 Months Ended	7 Months Ended	12 Months Ended
	Dec. 31, 2013	Jul. 23, 2013	Dec. 31, 2015	Dec. 31, 2014
Acquired Finite Lived Intangible Assets [Line Items]
Amortization of above (below) market lease intangibles, net	$ 185		$ 202	$ 420
Predecessor
Acquired Finite Lived Intangible Assets [Line Items]
Amortization of above (below) market lease intangibles, net		$ 256
In-place Lease Intangibles
Acquired Finite Lived Intangible Assets [Line Items]
Amortization of in-place lease intangibles	3,020		12,445	9,275
In-place Lease Intangibles \| Predecessor
Acquired Finite Lived Intangible Assets [Line Items]
Amortization of in-place lease intangibles		1,238
Net Above (Below) Market Tenant Leases
Acquired Finite Lived Intangible Assets [Line Items]
Amortization of above (below) market lease intangibles, net	198		234	452
Net Above (Below) Market Tenant Leases \| Predecessor
Acquired Finite Lived Intangible Assets [Line Items]
Amortization of above (below) market lease intangibles, net		239
Accretion Of Above Market Ground Lease Intangible		$ 0
Above Market Ground Lease
Acquired Finite Lived Intangible Assets [Line Items]
Accretion Of Above Market Ground Lease Intangible	$ (13)		$ (32)	$ (32)

Acquired Lease Intangibles - Summary of Estimated Net Amortization Expense of Above Market Leases And In-Place Lease Intangibles (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Acquired Finite Lived Intangible Assets [Line Items]
Total	$ 30,383	$ 28,136
In-place Lease Intangibles
Acquired Finite Lived Intangible Assets [Line Items]
2016	9,823
2017	5,768
2018	3,620
2019	2,467
2020	1,182
Thereafter	1,298
Total	24,158
Net Above (Below) Market Lease Intangibles
Acquired Finite Lived Intangible Assets [Line Items]
2016	163
2017	379
2018	321
2019	380
2020	243
Thereafter	1,565
Total	3,051
Above Market Ground Lease
Acquired Finite Lived Intangible Assets [Line Items]
2016	32
2017	32
2018	32
2019	32
2020	32
Thereafter	53
Total	$ 213

Notes Receivable - Additional Information (Detail) $ in Thousands			5 Months Ended	7 Months Ended	12 Months Ended
	Aug. 21, 2015 USD ($)	Feb. 08, 2013 USD ($)	Dec. 31, 2013 USD ($)	Jul. 23, 2013 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($) receivable
Accounts Notes And Loans Receivable [Line Items]
Gain from early repayment of note receivable			$ 0		$ 581	$ 0
Real Estate \| Notes Receivable
Accounts Notes And Loans Receivable [Line Items]
Number of notes receivable \| receivable						1
Note receivable amortization loan period						30 years
Fixed interest rate on notes receivable						6.001%
Proceeds from collection of mortgage note	$ 13,800
Interest received from mortgage note	43
Gain from early repayment of note receivable	$ 600
Predecessor
Accounts Notes And Loans Receivable [Line Items]
Gain from early repayment of note receivable				$ 1,365
Predecessor \| Real Estate \| Notes Receivable
Accounts Notes And Loans Receivable [Line Items]
Proceeds from collection of mortgage note		$ 5,400
Gain from early repayment of note receivable				$ 1,400

Notes Receivable - Summary of Notes Receivable (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Receivables [Abstract]
Face Amount	$ 0	$ 13,896
Unrecognized Accretable Yield	0	(759)
Notes receivable	$ 0	$ 13,137

Notes Payable - Summary of Notes Payable (Detail)	12 Months Ended
Notes Payable - Summary of Notes Payable (Detail)	Dec. 31, 2015 USD ($) property swap extension	Dec. 31, 2014 USD ($)	Jan. 21, 2015
Debt Instrument [Line Items]
Principal amount	$ 418,698,000	$ 357,076,000
Less: unamortized discount and deferred loan costs	(544,000)	(714,000)
Notes payable	$ 418,154,000	356,362,000
Number of extensions \| extension	1
Term Loan One
Debt Instrument [Line Items]
Notes payable	$ 60,000,000
Description of variable rate basis	LIBOR
Term Loan two
Debt Instrument [Line Items]
Description of variable rate basis	LIBOR
Term Loan Facility
Debt Instrument [Line Items]
Description of variable rate basis	LIBOR
LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
LIBOR \| Revolving Credit Facility
Debt Instrument [Line Items]
Principal amount	$ 140,500,000	92,500,000
Less: unamortized discount and deferred loan costs	$ 0	0
Maturity date	Jun. 11, 2018
Effective Interest Rate	1.73%
LIBOR \| Term Loan One
Debt Instrument [Line Items]
Principal amount	$ 60,000,000	60,000,000
Less: unamortized discount and deferred loan costs	$ 283,000	362,000
Maturity date	Aug. 01, 2019
Effective Interest Rate	3.95%
Basis spread on variable rate	1.90%
Extension period	1 year
Number of extensions \| extension	1
Number of properties securing loan \| property	6
Number of derivative instruments \| swap	2
LIBOR \| Term Loan two
Debt Instrument [Line Items]
Principal amount	$ 0	48,500,000
Less: unamortized discount and deferred loan costs	$ 0	330,000
Maturity date	Jun. 24, 2017
Basis spread on variable rate	1.55%
Number of properties securing loan \| property	8
LIBOR \| Term Loan Facility
Debt Instrument [Line Items]
Principal amount	$ 100,000,000	100,000,000
Less: unamortized discount and deferred loan costs	$ 0	0
Maturity date	Jun. 11, 2019
Effective Interest Rate	2.36%
Basis spread on variable rate	1.25%
RIF V - Glendale Commerce Center, LLC
Debt Instrument [Line Items]
Description of variable rate basis	LIBOR
RIF V - Glendale Commerce Center, LLC \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%
12907 Imperial Highway
Debt Instrument [Line Items]
Fixed interest rate			5.95%
Unsecured Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Extension period	1 year
Number of extensions \| extension	1
Unsecured Credit Facility \| LIBOR \| Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	1.30%
Fixed Rate Debt \| RIF V - Glendale Commerce Center, LLC
Debt Instrument [Line Items]
Principal amount	$ 0	42,750,000
Less: unamortized discount and deferred loan costs	$ 0	0
Maturity date	May 01, 2016
Fixed Rate Debt \| Gilbert Street La Palma Avenue
Debt Instrument [Line Items]
Principal amount	$ 3,044,000	3,173,000
Less: unamortized discount and deferred loan costs	$ 153,000	161,000
Maturity date	Mar. 01, 2031
Fixed interest rate	5.125%
Effective Interest Rate	5.37%
Amortization period	20 years
Fixed Rate Debt \| 2980 San Fernando
Debt Instrument [Line Items]
Principal amount	$ 0	10,153,000
Less: unamortized discount and deferred loan costs	$ 0	(139,000)
Maturity date	Jul. 01, 2015
Fixed Rate Debt \| 12907 Imperial Highway
Debt Instrument [Line Items]
Principal amount	$ 5,299,000	0
Less: unamortized discount and deferred loan costs	$ (303,000)	0
Maturity date	Apr. 01, 2018
Fixed interest rate	5.95%
Effective Interest Rate	3.71%
Fixed Rate Debt \| 1065 E. Walnut Street
Debt Instrument [Line Items]
Principal amount	$ 9,855,000	0
Less: unamortized discount and deferred loan costs	$ (292,000)	0
Maturity date	Feb. 01, 2019
Fixed interest rate	4.55%
Effective Interest Rate	3.54%
Extension period	5 years
Fixed Rate Debt \| 12907 Imperial Highway and 1065 E. Walnut Street
Debt Instrument [Line Items]
Amortization period	30 years
Senior Notes
Debt Instrument [Line Items]
Principal amount	$ 100,000,000	0
Less: unamortized discount and deferred loan costs	$ 703,000	$ 0
Maturity date	Aug. 06, 2025
Fixed interest rate	4.29%
Effective Interest Rate	4.36%
Interest Rate Swap \| LIBOR \| Term Loan Facility
Debt Instrument [Line Items]
Interest rate swap agreement, notional amount	$ 50,000,000
Minimum
Debt Instrument [Line Items]
Additional interest	0.20%
Minimum \| LIBOR \| Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	1.30%	1.35%
Minimum \| LIBOR \| Term Loan Facility
Debt Instrument [Line Items]
Additional interest	0.20%
Line of credit facility, amount outstanding	$ 100,000,000
Maximum
Debt Instrument [Line Items]
Additional interest	0.30%
Maximum \| LIBOR \| Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	1.90%	2.05%
Maximum \| LIBOR \| Term Loan Facility
Debt Instrument [Line Items]
Additional interest	0.30%
Line of credit facility, amount outstanding	$ 100,000,000

Notes Payable - Additional Information (Detail)									5 Months Ended	12 Months Ended
Notes Payable - Additional Information (Detail)	Dec. 11, 2015 USD ($)	Aug. 06, 2015 USD ($)	Jul. 16, 2015 USD ($)	Apr. 01, 2015 USD ($)	Jan. 21, 2015 USD ($)	Oct. 01, 2014 USD ($)	Jun. 11, 2014 USD ($) extension	May 30, 2014 USD ($)	Dec. 31, 2013 USD ($)	Dec. 31, 2015 USD ($) property extension	Dec. 31, 2014 USD ($)
Debt Instrument [Line Items]
Assumption of loan in connection with acquisition of real estate including loan premium									$ 0	$ 17,097,000	$ 10,565,000
Maturity date						Jan. 01, 2015
Repayments of debt						$ 5,000,000
Number of extensions \| extension										1
Amended facility maximum future borrowing capacity							$ 600,000,000.0
Notes payable										$ 418,154,000	356,362,000
Term Loan One
Debt Instrument [Line Items]
Description of variable rate basis										LIBOR
Debt service coverage ratio										110.00%
Unencumbered liquid assets										$ 5,000,000
Minimum fair market net worth											$ 75,000,000
Notes payable										60,000,000
Long-term line of credit availability										8,000,000
Unencumbered liquid assets cash and cash equivalents										$ 2,000,000
Term Loan two
Debt Instrument [Line Items]
Description of variable rate basis										LIBOR
Minimum
Debt Instrument [Line Items]
Additional interest										0.20%
Maximum
Debt Instrument [Line Items]
Additional interest										0.30%
Amended Facility
Debt Instrument [Line Items]
Maximum ratio of total indebtedness to total asset value										60.00%
Maximum ratio of secured debt to total asset value										45.00%
Maximum ratio of recourse debt to total asset										15.00%
Minimum tangible net worth required										$ 283,622,250
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%
Note Purchase Agreement
Debt Instrument [Line Items]
Fixed interest rate			4.29%
Face amount			$ 100,000,000.0
Minimum amount of principal that may be prepaid on notes outstanding			$ 2,500,000.0
Principal amount to be prepaid as a percent			100.00%
LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate										1.00%
LIBOR \| Term Loan One
Debt Instrument [Line Items]
Maturity date										Aug. 01, 2019
Basis spread on variable rate										1.90%
Number of properties securing loan \| property										6
Number of extensions \| extension										1
Extension period										1 year
LIBOR \| Term Loan two
Debt Instrument [Line Items]
Maturity date										Jun. 24, 2017
Basis spread on variable rate										1.55%
Number of properties securing loan \| property										8
Federal Funds Rate
Debt Instrument [Line Items]
Basis spread on variable rate										0.50%
Term Loan
Debt Instrument [Line Items]
Amount used to repay secured loan		$ 48,500,000
Maturity date										Jun. 11, 2019
Term Loan \| Term Loan Facility
Debt Instrument [Line Items]
Amortization period							5 years
Number of extensions \| extension							1
Extension period							1 year
Current borrowing capacity							$ 100,000,000.0
Term Loan \| LIBOR \| Term Loan Facility \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate										1.25%
Term Loan \| LIBOR \| Term Loan Facility \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate										1.85%
Revolving Credit Facility
Debt Instrument [Line Items]
Maturity date										Jun. 11, 2018
Current borrowing capacity							$ 200,000,000.0
Revolving Credit Facility \| Unsecured Credit Facility
Debt Instrument [Line Items]
Number of extensions \| extension										1
Extension period										1 year
Amount outstanding										$ 140,500,000
Additional availability										$ 59,500,000
Revolving Credit Facility \| LIBOR
Debt Instrument [Line Items]
Maturity date										Jun. 11, 2018
Revolving Credit Facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate										1.30%	1.35%
Revolving Credit Facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate										1.90%	2.05%
Revolving Credit Facility \| LIBOR \| Unsecured Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate										1.30%
RIF V - Glendale Commerce Center, LLC
Debt Instrument [Line Items]
Description of variable rate basis										LIBOR
Debt service coverage ratio										110.00%
RIF V - Glendale Commerce Center, LLC \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate										2.00%
RIF V - Glendale Commerce Center, LLC \| Mortgages
Debt Instrument [Line Items]
Amount used to repay secured loan		$ 42,750,000
12907 Imperial Highway
Debt Instrument [Line Items]
Assumption of loan in connection with acquisition of real estate including loan premium					$ 5,400,000
Unamortized debt premium					$ 500,000
Fixed interest rate					5.95%
Amortization period					30 years
2980-2990 North San Fernando Road
Debt Instrument [Line Items]
Unamortized debt premium								$ 300,000
Fixed interest rate								5.088%
Amount used to repay secured loan				$ 10,100,000
Face amount								$ 10,300,000
Amortization period								30 years
1065 E. Walnut Street \| Mortgages
Debt Instrument [Line Items]
Unamortized debt premium	$ 300,000
Fixed interest rate	4.55%
Face amount	$ 10,900,000
Debt Instrument, Prepayment Of Principal	$ 1,100,000
Amortization period	25 years

Notes Payable - Summary of Aggregate Future Minimum Payments of Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Notes payable	$ 418,154	$ 356,362
With Out Extension Option
Debt Instrument [Line Items]
2016	396
2017	430
2018	145,880
2020	169,533
2019	166
Thereafter	102,293
Notes payable	$ 418,698

Operating Leases - Future Minimum Base Rate for Predecessor Under Operating Leases (Detail) $ in Thousands	Dec. 31, 2015 USD ($)
Operating Leases, Future Minimum Payments Receivable [Abstract]
2016	$ 81,905
2017	62,110
2018	45,714
2019	34,964
2020	24,751
Thereafter	60,487
Total	$ 309,931

Interest Rate Contracts - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Aug. 19, 2014 USD ($) swap	Feb. 04, 2014 USD ($) swap
Derivative [Line Items]
Notes payable	$ 418,154,000	$ 356,362,000
Additional amount reclassified from AOCI as an increase to interest expense	1,900,000
Fair value of derivatives in a net liability position	3,200,000
Term Loan One
Derivative [Line Items]
Notes payable	60,000,000
Variable Rate Debt \| Term Loan Facility
Derivative [Line Items]
Notes payable	100,000,000
Interest Rate Swap 1
Derivative [Line Items]
Number of derivative instruments \| swap				2
Interest rate swap agreement, notional amount	$ 30,000,000	0		$ 30,000,000
Interest rate swap agreement, effective date	Jan. 15, 2015
Interest rate swap agreement, termination date	Feb. 15, 2019
Interest rate swap, fixed interest rate				3.726%
Interest Rate Swap 2
Derivative [Line Items]
Interest rate swap agreement, notional amount	$ 30,000,000	0		$ 30
Interest rate swap agreement, effective date	Jul. 15, 2015
Interest rate swap agreement, termination date	Feb. 15, 2019
Interest rate swap, fixed interest rate	3.91%
Interest Rate Swap 3
Derivative [Line Items]
Interest rate swap agreement, notional amount	$ 50,000,000	0	$ 50,000,000
Interest rate swap agreement, effective date	Aug. 14, 2015
Interest rate swap agreement, termination date	Dec. 14, 2018
Interest rate swap, fixed interest rate	1.79%
Interest Rate Swap 4
Derivative [Line Items]
Number of derivative instruments \| swap			2
Interest rate swap agreement, notional amount	$ 0	$ 0
Interest rate swap agreement, effective date	Feb. 16, 2016
Interest rate swap agreement, termination date	Dec. 14, 2018
Interest rate swap, fixed interest rate	2.005%

Interest Rate Contracts - Summary of Interest Rate Swap Agreements (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Aug. 19, 2014	Feb. 04, 2014
Derivative [Line Items]
Interest rate swap liability	$ 3,144,000	$ 1,402,000
Interest Rate Swap 1
Derivative [Line Items]
Interest rate swap agreement, effective date	Jan. 15, 2015
Interest rate swap agreement, termination date	Feb. 15, 2019
Interest Strike Rate				3.726%
Interest rate swap liability	$ 538,000	457,000
Interest rate swap agreement, notional amount	$ 30,000,000	0		$ 30,000,000
Interest Rate Swap 1 \| Derivative Financial Instruments, Liabilities
Derivative [Line Items]
Interest rate swap agreement, effective date	Jan. 15, 2015
Interest rate swap agreement, termination date	Feb. 15, 2019
Interest Strike Rate	1.826%
Interest Rate Swap 2
Derivative [Line Items]
Interest rate swap agreement, effective date	Jul. 15, 2015
Interest rate swap agreement, termination date	Feb. 15, 2019
Interest Strike Rate	3.91%
Interest rate swap liability	$ 698,000	408,000
Interest rate swap agreement, notional amount	$ 30,000,000	0		$ 30
Interest Rate Swap 2 \| Derivative Financial Instruments, Liabilities
Derivative [Line Items]
Interest rate swap agreement, effective date	Jul. 15, 2015
Interest rate swap agreement, termination date	Feb. 15, 2019
Interest Strike Rate	2.01%
Interest Rate Swap 3
Derivative [Line Items]
Interest rate swap agreement, effective date	Aug. 14, 2015
Interest rate swap agreement, termination date	Dec. 14, 2018
Interest Strike Rate	1.79%
Interest rate swap liability	$ 849,000	277,000
Interest rate swap agreement, notional amount	$ 50,000,000	0	$ 50,000,000
Interest Rate Swap 3 \| Derivative Financial Instruments, Liabilities
Derivative [Line Items]
Interest rate swap agreement, effective date	Aug. 14, 2015
Interest rate swap agreement, termination date	Dec. 14, 2018
Interest Strike Rate	1.79%
Interest Rate Swap 4
Derivative [Line Items]
Interest rate swap agreement, effective date	Feb. 16, 2016
Interest rate swap agreement, termination date	Dec. 14, 2018
Interest Strike Rate	2.005%
Interest rate swap liability	$ 1,059,000	260,000
Interest rate swap agreement, notional amount	$ 0	$ 0
Interest Rate Swap 4 \| Derivative Financial Instruments, Liabilities
Derivative [Line Items]
Interest rate swap agreement, effective date	Feb. 16, 2016
Interest rate swap agreement, termination date	Dec. 14, 2018
Interest Strike Rate	2.005%

Interest Rate Contracts - Impact of Derivative Instruments on Consolidated and Combined Statements of Operations - (Detail) - USD ($) $ in Thousands	5 Months Ended	7 Months Ended	12 Months Ended
	Dec. 31, 2013	Jul. 23, 2013	Dec. 31, 2015	Dec. 31, 2014
Derivative [Line Items]
Amount of loss recognized in AOCI on derivatives (effective portion)	$ 0		$ (2,781)	$ (1,402)
Amount of gain (loss) reclassified from AOCI into earnings under "Interest expense" (effective portion)	0		(1,039)	0
Amount of gain (loss) recognized in earnings under "Interest expense" (ineffective portion and amount excluded from effectiveness testing)	0		0	0
Interest Rate Swaps Not in Cash Flow Hedging Relationships:
Amount of realized and unrealized gain recognized in earnings under "Gain on mark-to-market of interest rate swaps"	$ 0		$ 0	$ 0
Predecessor
Derivative [Line Items]
Amount of loss recognized in AOCI on derivatives (effective portion)		$ 0
Amount of gain (loss) reclassified from AOCI into earnings under "Interest expense" (effective portion)		0
Amount of gain (loss) recognized in earnings under "Interest expense" (ineffective portion and amount excluded from effectiveness testing)		0
Interest Rate Swaps Not in Cash Flow Hedging Relationships:
Amount of realized and unrealized gain recognized in earnings under "Gain on mark-to-market of interest rate swaps"		$ 49

Fair Value Measurements - Assets Measures at Fair Value on a Recurring Basis by Level within Fair Value Hierarchy (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Interest Rate Swap Liabilities	$ (3,144)	$ (1,402)
Significant Other Observable Inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Interest Rate Swap Liabilities	$ (3,144)	$ (1,402)

Fair Value Measurements - Carrying Value and Estimated Fair Value of Notes Payable (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable, fair value	$ 416,497	$ 357,212
Notes payable	418,154	356,362
Significant Unobservable Inputs (Level 3)
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable, fair value	$ 416,497	$ 357,212

Related Party Transactions - Additional Information (Detail) - Chief Executive Officer - USD ($) $ in Millions	5 Months Ended	7 Months Ended	12 Months Ended
	Dec. 31, 2013	Jul. 23, 2013	Dec. 31, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Revenue from management and leasing services	$ 0.1		$ 0.2	$ 0.2
Predecessor
Related Party Transaction [Line Items]
Revenue from management and leasing services		$ 0.1

Commitments and Contingencies - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2015 USD ($) tenant	Feb. 25, 2014 USD ($)	Oct. 28, 2013 USD ($)
Commitments And Contingencies [Line Items]
Accommodation			$ 32.1
Estimated remedian costs		$ 1.3
Deposits paid		1.4
Holdback escrow seller funded		1.3
Holdback escrow buyer funded		0.1
Maximum seller liability remediation costs		$ 1.3
Ground lease, expiration date	Jun. 01, 2062
Commitments for tenant improvement and construction work	$ 5.4
Base Rent \| Customer Concentration Risk
Commitments And Contingencies [Line Items]
Number of major tenants accounting for more than 10 percent or more of annualized base rent \| tenant	0
Accounts Payable and Accrued Expenses
Commitments And Contingencies [Line Items]
Contingent liability	$ 1.2
Other Assets
Commitments And Contingencies [Line Items]
Indemnification asset	$ 1.2
Ten Largest Customers \| Base Rent \| Customer Concentration Risk
Commitments And Contingencies [Line Items]
Concentration risk, percentage	14.60%
One Single Tenant \| Base Rent \| Customer Concentration Risk
Commitments And Contingencies [Line Items]
Concentration risk, percentage	2.20%

Commitment and Contingencies- Future Minimum Commitment (Detail) $ in Thousands	Dec. 31, 2015 USD ($)
Office Lease
Operating Leased Assets [Line Items]
2016	$ 520
2017	543
2018	559
2019	337
2020	0
Thereafter	0
Total	1,959
Ground Rent
Operating Leased Assets [Line Items]
2016	144
2017	144
2018	144
2019	144
2020	144
Thereafter	5,964
Total	$ 6,684

Investment in Unconsolidated Real Estate - Additional Information (Detail) $ in Thousands			5 Months Ended	7 Months Ended	12 Months Ended
	Nov. 17, 2014 USD ($)	Jul. 24, 2013 shares	Dec. 31, 2013 USD ($) shares	Jul. 23, 2013 USD ($) property	Dec. 31, 2015 USD ($) property	Dec. 31, 2014 USD ($)
Equity Method Investments And Joint Ventures [Abstract]
Number of real estate properties \| property					119
Issuance of operating partnership units \| shares			3,697,086
Investment recorded at estimated fair value, basis adjustment.					$ 632	$ 678
Sale of property at contract price	$ 54,500
Repayments of outstanding loan secured					41,500
Gain on sale of property			$ 0		0	13,389
Payment of customary closing expenses	$ 1,700		57		0	1,745
Management, leasing and development fees			$ 300		$ 200	$ 400
Predecessor
Equity Method Investments And Joint Ventures [Abstract]
Gain on sale of property				$ 0
Payment of customary closing expenses				271
Management, leasing and development fees				$ 200
Roselle Street
Equity Method Investments And Joint Ventures [Abstract]
Issuance of operating partnership units \| shares		2,828
Acquired tenancy-in-common interest not previously owned		30.00%
Roselle Street \| Predecessor
Equity Method Investments And Joint Ventures [Abstract]
Ownership Interest				70.00%
Number of real estate properties \| property				2
Mission Oaks Boulevard
Equity Method Investments And Joint Ventures [Abstract]
Ownership Interest					15.00%
Number of real estate properties \| property					3
Investment recorded at estimated fair value, basis adjustment.					$ 2,800
Mission Oaks Boulevard \| Predecessor
Equity Method Investments And Joint Ventures [Abstract]
Ownership Interest					15.00%

Investment in Unconsolidated Real Estate - Combined Financial Information of Predecessor's Equity Method Investment Properties (Detail) - USD ($) $ in Thousands	5 Months Ended	7 Months Ended	12 Months Ended
	Dec. 31, 2013	Jul. 23, 2013	Dec. 31, 2015	Dec. 31, 2014
Schedule Of Equity Method Investments [Line Items]
Assets			$ 24,280	$ 23,542
Liabilities			(1,250)	(1,274)
Partners’/members’ equity			23,030	22,268
Company’s share of equity			3,455	3,340
Basis adjustment			632	678
Carrying value of the Company’s investment in unconsolidated real estate			4,087	4,018
Revenues	$ 1,440		2,673	7,018
Expenses	226		(1,911)	(6,526)
Gain on sale of properties	0		0	13,389
Net income (loss)	$ 1,666		$ 762	$ 13,881
Predecessor
Schedule Of Equity Method Investments [Line Items]
Revenues		$ 6,516
Expenses		(7,296)
Gain on sale of properties		0
Net income (loss)		$ (780)

Dispositions and Discontinued Operations - Summary of the Properties Sold (Detail) $ in Thousands	5 Months Ended	12 Months Ended
	Dec. 31, 2013 USD ($)	Dec. 31, 2015 USD ($) a ft²	Dec. 31, 2014 USD ($) a ft²
Property Dispositions [Line Items]
Rentable Square Feet \| a		2,129,753	3,738,554
Loss on sale of real estate	$ 0	$ 0	$ (150)
Gain on sale of real estate	$ 0	$ 0	$ 2,125
Park Center Drive
Property Dispositions [Line Items]
Location		Vista, CA
Date of Disposition		Jan. 29, 2014
Rentable Square Feet \| ft²		124,997
Sales Price		$ 10,103
Gain on sale of real estate		$ 2,262
N. Madera Road
Property Dispositions [Line Items]
Location		Simi Valley, CA
Date of Disposition		Mar. 13, 2014
Rentable Square Feet \| ft²		63,305
Sales Price		$ 4,350
Gain on sale of real estate		$ (137)
Zenith Drive
Property Dispositions [Line Items]
Location		Glenview, IL
Date of Disposition		Aug. 29, 2014
Rentable Square Feet \| ft²		37,992
Sales Price		$ 1,822
Loss on sale of real estate		$ (150)
Worth Street
Property Dispositions [Line Items]
Location			Los Angeles, CA
Date of Disposition			Jan. 31, 2013
Rentable Square Feet \| ft²			79,370
Sales Price			$ 4,100
Debt Satisfied			2,500
Gain on sale of real estate			$ 2,410
E. Williams Drive
Property Dispositions [Line Items]
Location			Oxnard, CA
Date of Disposition			Apr. 04, 2013
Rentable Square Feet \| ft²			161,682
Sales Price			$ 8,542
Debt Satisfied			2,993
Gain on sale of real estate			$ 415
Glenoaks Boulevard
Property Dispositions [Line Items]
Location			Los Angeles, CA
Date of Disposition			May 10, 2013
Rentable Square Feet \| ft²			14,700
Sales Price			$ 1,727
Debt Satisfied			1,625
Gain on sale of real estate			$ 234
W. Erie Dr. & S. Fair Lane
Property Dispositions [Line Items]
Location			Tempe, AZ
Date of Disposition			May 28, 2013
Rentable Square Feet \| ft²			83,385
Sales Price			$ 5,003
Debt Satisfied			3,531
Gain on sale of real estate			$ 1,015
Knollwood Circle
Property Dispositions [Line Items]
Location			Anaheim, CA
Date of Disposition			Jun. 14, 2013
Rentable Square Feet \| ft²			25,162
Sales Price			$ 2,768
Debt Satisfied			2,630
Gain on sale of real estate			$ 915

Dispositions and Discontinued Operations - Results of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended				5 Months Ended	7 Months Ended	12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Jul. 23, 2013	Dec. 31, 2015	Dec. 31, 2014
Disclosure Investment In Real Estate Discontinued Operations Detail [Line Items]
Revenues					$ 472		$ 0	$ 85
Operating expenses					(89)		0	(57)
Interest expense					0		0	0
Depreciation and amortization expense					(92)		0	(7)
Loss on extinguishment of debt					0		0	0
Gain on sale of real estate					0		0	2,125
INCOME FROM DISCONTINUED OPERATIONS	$ 0	$ 0	$ 0	$ 2,146	$ 291		$ 0	$ 2,146
Predecessor
Disclosure Investment In Real Estate Discontinued Operations Detail [Line Items]
Revenues						$ 604
Operating expenses						(312)
Interest expense						(325)
Depreciation and amortization expense						(776)
Loss on extinguishment of debt						(267)
Gain on sale of real estate						4,989
INCOME FROM DISCONTINUED OPERATIONS						$ 3,913

- Definition

Amount after tax of income (loss) from a discontinued operation including the portion attributable to the noncontrolling interest. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.12)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721675-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.14)
-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=51716988&loc=d3e1012-107759

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3B
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721525-107759

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721523-107759

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51716988&loc=d3e957-107759

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 13
-Article 7

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 15
-Article 5

+ Details

Stockholder's Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands				5 Months Ended	7 Months Ended	12 Months Ended
	Apr. 17, 2015	Feb. 03, 2015	Aug. 19, 2014	Dec. 31, 2013	Jul. 23, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Oct. 28, 2013
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of common stock, shares		11,500,000	17,250,000
Common stock share price		$ 16	$ 13.50
Issuance of common stock, net		$ 176,200	$ 221,800	$ 207,477		$ 175,833	$ 221,773
Underwriting discount and offering costs		$ 7,800	$ 11,100	24,824		8,174	11,158
Net proceeds from public offering used in exchange for common units of partnership interests in OP Units			17,250,000
Proceeds from private placement, shares								3,358,311
Proceeds from private placement				$ 47,016		0	0
Issuance of operating partnership units				3,697,086				3,697,086
Exchange of Predecessor's equity for common stock, shares								4,947,558
Repurchase of operating partnership units				$ 0		(136)	0
Conversion of common units to common stock						$ 0	$ 0
Percentage of pre IPO investors by invested capital approving formation transactions									98.00%
Accommodation									$ 32,100
Aggregate value allocated to management companies in formation transactions									$ 21,100
Minimum participation rate based on capital commitments to effect accommodation									67.70%
Accommodation participation percentage number of pre IPO investors							97.90%
Accommodation participation percentage capital commitments of pre IPO investors							98.50%
Value of share or operating partnership unit in accommodation									$ 14.00
Restricted stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Accommodation									$ 11,000
OP Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Units redeemed						8,468
Units redeemed for cash at a price per share						$ 16.07
Conversion of common units to common stock, shares						288,234
Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of common stock, shares				16,451,972		11,500,500	17,250,000
Proceeds from private placement, shares				3,358,311
Exchange of Predecessor's equity for common stock, shares					4,943,225
Conversion of common units to common stock, shares							685,915
Conversion of common units to common stock						$ 3	$ 7
Noncontrolling Interests
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Conversion of common units to common stock						(3,162)	(7,779)
Parent
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Underwriting discount and offering costs				$ 24,824		8,174	11,158
Conversion of common units to common stock						$ 3,162	$ 7,779
Operating Partnership
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Accommodation									$ 21,100
Operating Partnership \| Noncontrolling Interests \| Equity
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of operating partnership units						2,026,642
Noncontrolling interest percentage ownership in Operating Partnership						3.50%
IPO
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of common stock, shares								16,451,972
Issuance of common stock, net								$ 206,100
Private Placement
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Proceeds from private placement								$ 47,000
ATM Program
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of common stock, shares	500
Underwriting discount and offering costs	$ 400
Maximum aggregate offering amount	$ 125,000

Stockholder's Equity - Summary of the Components of Changes in Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	5 Months Ended	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014
Equity [Abstract]
Accumulated other comprehensive loss - beginning balance		$ (1,331)	$ 0
Other comprehensive loss before reclassifications		(2,781)	(1,402)
Amounts reclassified from accumulated other comprehensive loss to interest expense		1,039	0
Net current period other comprehensive loss	$ 0	(1,742)	(1,402)
Less other comprehensive loss attributable to noncontrolling interests		40	71
Other comprehensive loss attributable to common stockholders		(1,702)	(1,331)
Accumulated other comprehensive loss - ending balance	$ 0	$ (3,033)	$ (1,331)

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

Stockholder's Equity - Federal Tax Treatment of Distributions (Details) - $ / shares	5 Months Ended	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014
Class of Stock [Line Items]
Dividend, federal income tax treatment (per share)	$ 0.1900000	$ 0.5100000	$ 0.5000000
Dividend, federal income tax treatment (percent)	100.00%	100.00%	100.00%
Unrecaptured Section 1250 gain, percent of capital gain			19.00%
Ordinary Income [Member]
Class of Stock [Line Items]
Dividend, federal income tax treatment (per share)	$ 0.1900000	$ 0.4789478	$ 0.4607500
Dividend, federal income tax treatment (percent)	100.00%	93.91%	92.15%
Return Of Capital [Member]
Class of Stock [Line Items]
Dividend, federal income tax treatment (per share)	$ 0.0000000	$ 0.0000000	$ 0.0000000
Dividend, federal income tax treatment (percent)	0.00%	0.00%	0.00%
Capital Gain [Member]
Class of Stock [Line Items]
Dividend, federal income tax treatment (per share)	$ 0.0000000	$ 0.0310522	$ 0.0392500
Dividend, federal income tax treatment (percent)	0.00%	6.09%	7.85%

Incentive Award Plan - Additional Information (Detail) $ / shares in Units, $ in Thousands			5 Months Ended	12 Months Ended
	Feb. 26, 2015 USD ($) $ / shares shares	May 30, 2014 USD ($) $ / shares shares	Dec. 31, 2013 USD ($)	Dec. 31, 2015 USD ($) installment $ / shares shares	Dec. 31, 2014 USD ($) $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Recognized equity compensation expense for all equity-based compensation arrangements			$ 400	$ 1,800	$ 1,000
Capitalized compensation cost for all equity-based compensation arrangements			$ 41	$ 100	$ 100
Restricted stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period \| shares				152,103	243,233
Closing share price of common stock \| $ / shares				$ 14.34	$ 14.00
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				2,272,689
Common stock, shares reserved for future issuance \| shares				1,315,807
2013 Incentive Award Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost for all equity-based compensation arrangements				$ 7,900
Unrecognized compensation cost to be capitalized for all equity-based compensation arrangements				$ 300
Weighted average remaining vesting period				24 months
2013 Incentive Award Plan \| Restricted stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of vesting installment period \| installment				4
2013 Incentive Award Plan \| 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	32,052	3,383
Grant date fair value	$ 500	$ 50
Closing share price of common stock \| $ / shares	$ 15.60	$ 14.78
2013 Incentive Award Plan \| Restricted stock \| Other Employees
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period \| shares				102,503
Grant date fair value				$ 1,600
2013 Incentive Award Plan \| Restricted stock \| Other Employees \| Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Closing share price of common stock \| $ / shares				$ 14.63
2013 Incentive Award Plan \| Restricted stock \| Other Employees \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Closing share price of common stock \| $ / shares				$ 15.82

Incentive Award Plan - LTIP Units and Performance Units (Details) - 2013 Incentive Award Plan - USD ($) $ / shares in Units, $ in Millions			12 Months Ended
	Dec. 30, 2015	Dec. 15, 2015	Dec. 31, 2015
Performance Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Quarterly per-unit distribution (percent of distributions paid on OP units)			10.00%
Grant date fair value		$ 2.2
Designated as absolute TSR base units		40.00%
Designated as relative TSR base units		60.00%
Distributions accruing during performance period (percent)		90.00%
Fair Value Assumptions and Methodology [Abstract]
Expected price volatility			24.00%
Expected price volatility, minimum			21.00%
Expected price volatility, maximum			62.00%
Expected dividend yield			3.40%
Risk free interest rate			1.28%
Executive Officers \| Performance Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period		315,998
Performance period		3 years
Executive Officers \| LTIP Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period		166,669
Grant date fair value		$ 2.5
Discount for post-vesting restrictions and uncertainty (percent)	5.00%
Vesting installments (percent)		25.00%
Common Stock \| Executive Officers \| LTIP Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted-Average Grant Date Fair Value per Share, Granted		$ 15.90
Minimum \| Performance Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Units expected to vest (percent)		0.00%
Maximum \| Performance Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Units expected to vest (percent)		100.00%
Absolute TSR Vesting Percentage Range One \| Performance Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Relative TSR Vesting Percentage		0.00%
Company TSR Percentage		24.00%
Absolute TSR Vesting Percentage Range Two \| Performance Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Relative TSR Vesting Percentage		20.00%
Company TSR Percentage		24.00%
Absolute TSR Vesting Percentage Range Three \| Performance Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Relative TSR Vesting Percentage		60.00%
Company TSR Percentage		37.00%
Absolute TSR Vesting Percentage Range Four \| Performance Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Relative TSR Vesting Percentage		100.00%
Company TSR Percentage		50.00%
Relative TSR Vesting Percentage Range One \| Performance Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Absolute TSR Vesting Percentage		0.00%
Peer Group Relative Performance		50.00%
Relative TSR Vesting Percentage Range Two \| Performance Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Absolute TSR Vesting Percentage		20.00%
Peer Group Relative Performance		50.00%
Relative TSR Vesting Percentage Range Three \| Performance Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Absolute TSR Vesting Percentage		60.00%
Peer Group Relative Performance		62.50%
Relative TSR Vesting Percentage Range Four \| Performance Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Absolute TSR Vesting Percentage		100.00%
Peer Group Relative Performance		75.00%

Incentive Award Plan - Schedule of Nonvested Restricted Stock Activity (Detail) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Number of Nonvested Shares of Restricted Common Stock
Number of Nonvested Shares of Restricted Common Stock, Balance	333,441
Restricted stock
Number of Nonvested Shares of Restricted Common Stock
Number of Nonvested Shares of Restricted Common Stock, Balance	320,017	140,468
Number of Nonvested Shares of Restricted Common Stock, Granted	152,103	243,233
Number of Nonvested Shares of Restricted Common Stock, Forfeited	(31,925)	(29,664)
Number of Nonvested Shares of Restricted Common Stock, Vested	(106,754)	(34,020)
Number of Nonvested Shares of Restricted Common Stock, Balance	333,441	320,017
Weighted-Average Grant Date Fair Value per Share
Weighted-Average Grant Date Fair Value per Share, Balance	$ 14.30	$ 14.00
Weighted-Average Grant Date Fair Value per Share, Granted	15.34	14.40
Weighted-Average Grant Date Fair Value per Share, Forfeited	14.54	14.04
Weighted-Average Grant Date Fair Value per Share, Vested	14.34	14.00
Weighted-Average Grant Date Fair Value per Share, Balance	$ 14.74	$ 14.30
Fair value of vested shares	$ 1.6	$ 0.5
Shares tendered for tax withholding requirements	12,670	6,928

Incentive Award Plan - Shares Tendered (Detail) - shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares tendered for tax withholding requirements	12,670	6,928

Incentive Award Plan - Vesting Schedule of the Nonvested Shares of Restricted Stock Outstanding (Detail)	Dec. 31, 2015 shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non-vested shares	333,441
2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non-vested shares	128,470
2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non-vested shares	139,325
2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non-vested shares	44,268
2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non-vested shares	21,378

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								5 Months Ended	7 Months Ended	12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Jul. 23, 2013	Dec. 31, 2015	Dec. 31, 2014
Numerator:
Net loss from continuing operations	$ 1,056	$ 617	$ 196	$ 81	$ 145	$ (679)	$ 81	$ (717)	$ (1,002)		$ 1,950	$ (1,170)
Net income (loss) from continuing operations attributable to noncontrolling interests									121		(76)	97
Loss from continuing operations attributable to Rexford Industrial Realty, Inc.									(910)		1,651	(1,175)
Income from discontinued operations					0	0	0	2,146	291		0	2,146
Income from discontinued operations attributable to noncontrolling interests									(35)		0	(177)
Income from discontinued operations attributable to participating securities									0		0	0
Income from discontinued operations attributable to Rexford Industrial Realty, Inc.									256		0	1,969
Net income (loss)	$ 1,056	$ 617	$ 196	$ 81	$ 145	$ (679)	$ 81	$ 1,429	(711)	$ (4,281)	1,950	976
Net (income) loss attributable to noncontrolling interests									86		(76)	(80)
Net income attributable to participating securities									(29)		(223)	(102)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS									$ (654)		$ 1,651	$ 794
Denominator:
Weighted average shares of common stock outstanding - basic and diluted (in shares)									24,925,226		54,024,923	31,953,506
Earnings per share - Basic and Diluted:
Net income (loss) from continuing operations available to common stockholders (in dollars per share)									$ (0.04)		$ 0.03	$ (0.04)
Net income from discontinued operations available to common stockholders (in dollars per share)									0.01		0.00	0.06
Net income (loss) available to common stockholders (in dollars per share)	$ 0.02	$ 0.01	$ 0.00	$ 0.00	$ 0.00	$ (0.02)	$ 0.00	$ 0.05	$ (0.03)		$ 0.03	$ 0.02

Predecessor Equity - Additional Information (Detail) $ in Thousands	1 Months Ended	2 Months Ended	5 Months Ended	7 Months Ended	12 Months Ended
	Jan. 31, 2013	Dec. 31, 2012	Dec. 31, 2013 USD ($)	Jul. 23, 2013 USD ($) investor	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Equity [Line Items]
Additional equity interest granted	2.00%
Fair value of equity interest							$ 1,000
Performance-based equity interest, vesting period					7 years
Equity based compensation expense			$ 392		$ 1,752	$ 1,042
Predecessor
Equity [Line Items]
Equity interest granted to employees		9.00%
Equity based compensation expense				$ 985
RIF I - Walnut, LLC
Equity [Line Items]
Noncontrolling interest percentage ownership in Operating Partnership				27.76%
Number of investors included in noncontrolling interest \| investor				10
RIF IV - Burbank, LLC
Equity [Line Items]
Noncontrolling interest percentage ownership in Operating Partnership				3.23%
Number of investors included in noncontrolling interest \| investor				1

Quarterly Information (unaudited) - Schedule of Quarterly Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								5 Months Ended	7 Months Ended	12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Jul. 23, 2013	Dec. 31, 2015	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Revenues from continuing operations	$ 26,164	$ 23,674	$ 22,722	$ 21,340	$ 19,858	$ 18,036	$ 14,996	$ 13,691	$ 21,618		$ 93,900	$ 66,581
Net operating income	18,941	17,098	16,407	15,160	13,893	12,705	10,577	9,047
Net income (loss) from continuing operations	1,056	617	196	81	145	(679)	81	(717)	(1,002)		1,950	(1,170)
Income (loss) from discontinued operations					0	0	0	2,146	291		0	2,146
Net income (loss)	1,056	617	196	81	145	(679)	81	1,429	(711)	$ (4,281)	1,950	976
Net income (loss) attributable to common stockholders	$ 945	$ 540	$ 139	$ 27	$ 107	$ (623)	$ 49	$ 1,261	$ (625)		$ 1,874	$ 896
Net income (loss) available to common stockholders per share - basic and diluted (in dollars per share)	$ 0.02	$ 0.01	$ 0.00	$ 0.00	$ 0.00	$ (0.02)	$ 0.00	$ 0.05	$ (0.03)		$ 0.03	$ 0.02

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Subsequent Events - Additional Information (Detail) - USD ($)			12 Months Ended
	Jan. 15, 2016	Jan. 14, 2016	Dec. 31, 2015	Dec. 31, 2014	Feb. 24, 2016	Jun. 11, 2014
Subsequent Event [Line Items]
Maximum borrowing capacity						$ 600,000,000.0
Federal Funds Rate
Subsequent Event [Line Items]
Basis spread on variable rate			0.50%
LIBOR
Subsequent Event [Line Items]
Basis spread on variable rate			1.00%
Revolving Credit Facility \| LIBOR \| Minimum
Subsequent Event [Line Items]
Basis spread on variable rate			1.30%	1.35%
Revolving Credit Facility \| LIBOR \| Maximum
Subsequent Event [Line Items]
Basis spread on variable rate			1.90%	2.05%
Subsequent Event \| Line of Credit \| Revolving Credit Facility
Subsequent Event [Line Items]
Repayments of debt	$ 116,000,000
Subsequent Event \| Line of Credit \| Credit Agreement \| Term Loan
Subsequent Event [Line Items]
Maximum borrowing capacity		$ 125,000,000
Proceeds from lines of credit		$ 125,000,000
Subsequent Event \| Line of Credit \| Credit Agreement \| Term Loan \| Prepayment prior to January 14, 2017
Subsequent Event [Line Items]
Prepayment premium, percent		2.00%
Subsequent Event \| Line of Credit \| Credit Agreement \| Term Loan \| Prepayment January 14, 2017 to January 14, 2018
Subsequent Event [Line Items]
Prepayment premium, percent		1.00%
Subsequent Event \| Line of Credit \| Credit Agreement \| Term Loan \| Federal Funds Rate
Subsequent Event [Line Items]
Basis spread on variable rate		0.50%
Subsequent Event \| Line of Credit \| Credit Agreement \| Term Loan \| LIBOR
Subsequent Event [Line Items]
Basis spread on variable rate		1.00%
Subsequent Event \| Line of Credit \| Credit Agreement \| Term Loan \| Eurodollar \| Minimum
Subsequent Event [Line Items]
Basis spread on variable rate		1.50%
Subsequent Event \| Line of Credit \| Credit Agreement \| Term Loan \| Eurodollar \| Maximum
Subsequent Event [Line Items]
Basis spread on variable rate		2.25%
Subsequent Event \| Line of Credit \| Credit Agreement \| Term Loan \| Base Rate \| Minimum
Subsequent Event [Line Items]
Basis spread on variable rate		0.50%
Subsequent Event \| Line of Credit \| Credit Agreement \| Term Loan \| Base Rate \| Maximum
Subsequent Event [Line Items]
Basis spread on variable rate		1.25%
Forward Contracts \| Interest Rate Swap \| Subsequent Event
Subsequent Event [Line Items]
Interest rate swap agreement, notional amount					$ 125,000,000.0
Interest rate swap, fixed interest rate					1.349%

Schedule III - Real Estate and Accumulated Depreciation Additional Information (Detail) $ in Millions	Dec. 31, 2015 USD ($)
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Aggregate cost for federal income tax purposes of investments in real estate	$ 1,133.2

Schedule III - Real Estate and Accumulated Depreciation - Textual (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2009
Real Estate And Accumulated Depreciation [Line Items]
Real estate investment cumulative impairment	$ 18,600		$ 19,600
Notes payable including mortgage loans associated with real estate held for sale	418,154	$ 356,362
Unamortized debt discount (premium)	544	$ 714
La Palma Ave
Real Estate And Accumulated Depreciation [Line Items]
Unamortized debt discount (premium)	200
RIF V - Jersey, LLC
Real Estate And Accumulated Depreciation [Line Items]
Unamortized debt discount (premium)	(300)
1065 E. Walnut Street
Real Estate And Accumulated Depreciation [Line Items]
Unamortized debt discount (premium)	(300)
Land
Real Estate And Accumulated Depreciation [Line Items]
Real estate investment cumulative impairment	9,300
Buildings and Improvements
Real Estate And Accumulated Depreciation [Line Items]
Real estate investment cumulative impairment	$ 9,300
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
6 Properties Secured \| Term Loan
Real Estate And Accumulated Depreciation [Line Items]
Notes payable including mortgage loans associated with real estate held for sale	$ 60,000

Schedule III - Reconciliation of Real Estate and Accumulated Depreciation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
SEC Schedule III, Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, Beginning of Year	$ 930,462	$ 555,433
Acquisition of Investment in Real Estate	235,948	375,422
Construction Costs and Improvements	22,841	14,485
Step-up in Basis Adjustment	0	0
Disposition of Investment in Real Estate	0	(14,816)
Write-off of Fully Depreciated Assets	(485)	(62)
Balance, End of Year	1,188,766	930,462	$ 555,433
Balance, Beginning of Year	(76,884)	(60,898)
Depreciation of Investment in Real Estate	(27,224)	(18,042)
Step-up in Basis Adjustment	0	0
Disposition of Investment in Real Estate	0	1,994
Write-off of Fully Depreciated Assets	485	62
Balance, End of Year	$ (103,623)	(76,884)	(60,898)
Predecessor
SEC Schedule III, Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, Beginning of Year		555,433	397,597
Acquisition of Investment in Real Estate			148,811
Construction Costs and Improvements			3,802
Step-up in Basis Adjustment			28,070
Disposition of Investment in Real Estate			(20,275)
Write-off of Fully Depreciated Assets			(2,572)
Balance, End of Year			555,433
Balance, Beginning of Year		(60,898)	(60,574)
Depreciation of Investment in Real Estate			(11,288)
Step-up in Basis Adjustment		4,357
Disposition of Investment in Real Estate		4,035
Write-off of Fully Depreciated Assets		$ 2,572
Balance, End of Year			$ (60,898)