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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2016	Feb. 14, 2017	Jun. 30, 2016
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2016
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	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		66,621,971
Entity Public Float			$ 1,381,958,440

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
ASSETS
Land	$ 683,919	$ 492,704
Buildings and improvements	811,614	650,075
Tenant improvements	38,644	28,977
Furniture, fixtures, and equipment	174	188
Construction in progress	17,778	16,822
Total real estate held for investment	1,552,129	1,188,766
Accumulated depreciation	(135,140)	(103,623)
Investments in real estate, net	1,416,989	1,085,143
Cash and cash equivalents	15,525	5,201
Notes receivable	5,934	0
Rents and other receivables, net	2,749	3,040
Deferred rent receivable, net	11,873	7,827
Deferred leasing costs, net	8,672	5,331
Deferred loan costs, net	847	1,445
Acquired lease intangible assets, net	36,365	30,383
Acquired indefinite-lived intangible	5,170	5,271
Interest rate swap asset	5,594	0
Other assets	5,290	5,523
Investment in unconsolidated real estate entities	0	4,087
Total Assets	1,515,008	1,153,251
Liabilities
Notes payable	500,184	418,154
Interest rate swap liability	2,045	3,144
Accounts payable, accrued expenses and other liabilities	13,585	12,631
Dividends payable	9,282	7,806
Acquired lease intangible liabilities, net	9,130	3,387
Tenant security deposits	15,187	11,539
Prepaid rents	3,455	2,846
Total Liabilities	552,868	459,507
Rexford Industrial Realty, Inc. stockholders’ equity
Preferred stock, $0.01 par value, 10,000,000 shares authorized; 5.875% series A cumulative redeemable preferred stock, liquidation preference $25.00 per share, 3,600,000 and zero shares outstanding as of December 31, 2016 and December 31, 2015, respectively ($90,000 liquidation preference)	86,651	0
Common Stock, $0.01 par value 490,000,000 authorized and 66,454,375 and 55,598,684 outstanding as of December 31, 2016 and December 31, 2015, respectively	662	553
Additional paid in capital	907,834	722,722
Cumulative distributions in excess of earnings	(59,277)	(48,103)
Accumulated other comprehensive income (loss)	3,445	(3,033)
Total stockholders’ equity	939,315	672,139
Noncontrolling interests	22,825	21,605
Total Equity	962,140	693,744
Total Liabilities and Equity	$ 1,515,008	$ 1,153,251

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	12 Months Ended
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, interest	5.875%	5.875%
Liquidation preference (per share)	$ 25	$ 25
Liquidation preference, value	$ 90,000
Shares authorized	10,000,000	10,000,000
Shares outstanding	3,600,000	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	490,000,000	490,000,000
Common stock, shares outstanding	66,454,375	55,598,684

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
RENTAL REVENUES
Rental income	$ 107,594	$ 81,114	$ 56,636
Tenant reimbursements	16,723	10,479	7,661
Other income	943	1,013	307
TOTAL RENTAL REVENUES	125,260	92,606	64,604
Management, leasing and development services	473	584	860
Interest income	459	710	1,117
TOTAL REVENUES	126,192	93,900	66,581
OPERATING EXPENSES
Property expenses	33,619	25,000	18,382
General and administrative	17,415	15,016	12,144
Depreciation and amortization	51,407	41,837	28,608
TOTAL OPERATING EXPENSES	102,441	81,853	59,134
OTHER (INCOME) EXPENSE
Acquisition expenses	1,855	2,136	2,038
Interest expense	14,848	8,453	6,400
TOTAL OTHER EXPENSE	16,703	10,589	8,438
TOTAL EXPENSES	119,144	92,442	67,572
Equity in income (loss) from unconsolidated real estate entities	1,451	93	(29)
Gain from early repayment of note receivable	0	581	0
Loss on extinguishment of debt	0	(182)	0
Gain (loss) on sale of real estate	17,377	0	(150)
NET INCOME (LOSS) FROM CONTINUING OPERATIONS	25,876	1,950	(1,170)
DISCONTINUED OPERATIONS
Income from discontinued operations before gain on sale of real estate and loss on extinguishment of debt	0	0	21
Gain on sale of real estate	0	0	2,125
INCOME FROM DISCONTINUED OPERATIONS	0	0	2,146
NET INCOME	25,876	1,950	976
Less: net income attributable to noncontrolling interest	(750)		(80)
NET INCOME ATTRIBUTABLE TO REXFORD INDUSTRIAL REALTY, INC.	25,126	1,874	896
NET INCOME (LOSS) ATTRIBUTABLE TO:
Less: preferred stock dividends	(1,983)	0	0
Less: earnings allocated to participating securities	(302)	(223)	(102)
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS	$ 22,841	$ 1,651	$ 794
Income (loss) from continuing operations available to common stockholders per share - basic and diluted (in dollars per share)	$ 0.36	$ 0.03	$ (0.04)
Net income (loss) available to common stockholders per share - basic and diluted (in dollars per share)	$ 0.36	$ 0.03	$ 0.02
Weighted average shares of common stock outstanding - basic (in dollars per share)	62,723,021	54,024,923	31,953,506
Weighted average shares of common stock outstanding - diluted (in dollars per share)	62,965,554	54,024,923	31,953,506

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 25,876	$ 1,950	$ 976
Other comprehensive income (loss): cash flow hedge adjustment	6,693	(1,742)	(1,402)
Comprehensive income (loss)	32,569	208	(426)
Less: comprehensive (income) loss attributable to noncontrolling interests	(965)	(36)	(9)
Comprehensive income (loss) attributable to common stockholders	$ 31,604	$ 172	$ (435)

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)	Total	Total Stockholders’ Equity	Preferred Stock	Common Stock	Additional Paid-in Capital	Cumulative Distributions in Excess of Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interests	Common Stock	Common Stock Total Stockholders’ Equity	Common Stock Common Stock	Common Stock Additional Paid-in Capital	Series A Preferred Stock	Series A Preferred Stock Total Stockholders’ Equity	Series A Preferred Stock Preferred Stock
Beginning Balance at Dec. 31, 2013	$ 341,769,000	$ 306,198,000	$ 0	$ 255,000	$ 311,936,000	$ (5,993,000)		$ 35,571,000
Beginning Balance, shares at Dec. 31, 2013				25,559,886
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock									$ 232,875,000	$ 232,875,000	$ 172,000	$ 232,703,000
Issuance of common stock, shares											17,250,000
Offering costs	(11,158,000)	(11,158,000)			(11,158,000)
Share-based compensation	1,163,000	1,163,000			1,163,000
Share-based compensation, shares				213,569
Shares acquired to satisfy employee tax withholding requirements on vesting restricted stock	(98,000)	(98,000)			(98,000)
Shares acquired to satisfy minimum tax withholding on vesting restricted stock, shares				(6,928)
Conversion of units to common stock	0	7,779,000		$ 7,000	7,772,000			(7,779,000)
Conversion of units to common stock, shares				685,915
Net income	976,000	896,000				896,000		80,000
Other comprehensive income	(1,402,000)	(1,331,000)					$ (1,331,000)	(71,000)
Common stock dividends	16,576,000	16,576,000				16,576,000
Distributions	(1,672,000)							(1,672,000)
Ending Balance at Dec. 31, 2014	545,877,000	519,748,000	0	$ 434,000	542,318,000	(21,673,000)	(1,331,000)	26,129,000
Ending Balance, shares at Dec. 31, 2014				43,702,442
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock	184,007,000	184,007,000		$ 115,000	183,892,000
Issuance of common stock, shares				11,500,500
Offering costs	(8,174,000)	(8,174,000)			(8,174,000)
Share-based compensation	1,852,000	1,765,000		$ 1,000	1,764,000			87,000
Share-based compensation, shares				120,178
Shares acquired to satisfy employee tax withholding requirements on vesting restricted stock	(191,000)	(191,000)			(191,000)
Shares acquired to satisfy minimum tax withholding on vesting restricted stock, shares				(12,670)
Conversion of units to common stock	$ 0	3,162,000		$ 3,000	3,159,000			(3,162,000)
Conversion of units to common stock, shares	288,234
Repurchase of operating partnership units	$ (136,000)	(46,000)			(46,000)			(90,000)
Net income	1,950,000	1,874,000				1,874,000		76,000
Other comprehensive income	(1,742,000)	(1,702,000)					(1,702,000)	(40,000)
Common stock dividends	28,304,000	28,304,000				28,304,000
Distributions	(1,395,000)							(1,395,000)
Ending Balance at Dec. 31, 2015	$ 693,744,000	672,139,000	0	$ 553,000	722,722,000	(48,103,000)	(3,033,000)	21,605,000
Ending Balance, shares at Dec. 31, 2015	55,598,684			55,598,684
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock									$ 191,990,000	$ 191,990,000	$ 108,000	$ 191,882,000	$ 90,000,000	$ 90,000,000	$ 90,000,000
Issuance of common stock, shares											10,752,683
Offering costs	$ (12,011,000)	(12,011,000)	(3,349,000)		(8,662,000)
Share-based compensation	3,982,000	2,010,000		$ 1,000	2,009,000			1,972,000
Share-based compensation, shares				79,736
Shares acquired to satisfy employee tax withholding requirements on vesting restricted stock	(747,000)	(747,000)			(747,000)
Shares acquired to satisfy minimum tax withholding on vesting restricted stock, shares				(36,374)
Conversion of units to common stock	$ 0	630,000		$ 0	630,000			(630,000)
Conversion of units to common stock, shares	59,646
Acquisition of real estate portfolio	$ 125,000							125,000
Net income	25,876,000	25,126,000	1,983,000			23,143,000		750,000
Other comprehensive income	6,693,000	6,478,000					6,478,000	215,000
Preferred stock dividends	(1,983,000)	(1,983,000)	(1,983,000)			0
Common stock dividends	34,317,000	34,317,000				34,317,000
Distributions	(1,212,000)							(1,212,000)
Ending Balance at Dec. 31, 2016	$ 962,140,000	$ 939,315,000	$ 86,651,000	$ 662,000	$ 907,834,000	$ (59,277,000)	$ 3,445,000	$ 22,825,000
Ending Balance, shares at Dec. 31, 2016	66,454,375			66,454,375

CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 25,876	$ 1,950	$ 976
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in (income) loss from unconsolidated real estate entities	(1,451)	(93)	29
Provision for doubtful accounts	1,287	1,448	675
Depreciation and amortization	51,407	41,837	28,608
Depreciation and amortization included in discontinued operations	0	0	7
Amortization of (below) above market lease intangibles, net	(78)	202	420
Amortization of loan origination fees	(150)	0	0
Accretion of discount on notes receivable	0	(178)	(263)
Deferred interest income on notes receivable	(84)	0	0
Gain from early repayment of notes receivable	0	(581)	0
Loss on extinguishment of debt	0	182	0
(Gain) loss on sale of real estate	(17,377)	0	150
Gain on sale of real estate included in discontinued operations	0	0	(2,125)
Amortization of loan costs	1,014	812	684
Accretion of premium on notes payable	(238)	(191)	(209)
Equity based compensation expense	3,835	1,752	1,042
Straight-line rent	(4,507)	(3,425)	(1,400)
Change in working capital components:
Rents and other receivables	(988)	(2,676)	(1,558)
Deferred leasing costs	(5,596)	(3,421)	(2,362)
Other assets	71	(1,286)	(1,069)
Accounts payable, accrued expenses and other liabilities	1,667	1,806	1,227
Tenant security deposits	2,155	1,608	961
Prepaid rents	(411)	762	(1,289)
Net cash provided by operating activities	56,432	40,508	24,504
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of investments in real estate	(367,621)	(230,599)	(383,662)
Capital expenditures	(31,928)	(22,181)	(13,959)
Acquisition related deposits	0	2,110	(600)
Contributions to unconsolidated real estate entities	0	0	(105)
Distributions from unconsolidated real estate entities	5,530	0	1,745
Issuance of notes receivable	(5,700)	0	0
Change in restricted cash	0	0	325
Principal repayments of notes receivable	0	13,896	265
Proceeds from sale of real estate	38,505	0	15,410
Net cash used in investing activities	(361,214)	(236,774)	(380,581)
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of preferred stock, net	86,651	0	0
Issuance of common stock, net	183,386	175,833	221,773
Proceeds from notes payable	263,000	272,000	301,500
Repayment of notes payable	(179,223)	(226,710)	(147,241)
Deferred loan costs	(1,925)	(796)	(1,876)
Debt extinguishment costs	0	(2)	0
Dividends paid to preferred stockholders	(1,983)	0	0
Dividends paid to common stockholders	(32,852)	(26,042)	(16,700)
Distributions paid to common unitholders	(1,201)	(1,095)	(1,672)
Repurchase of common shares to satisfy employee tax withholding requirements	(747)	(191)	(98)
Repurchase of operating partnership units	0	(136)	0
Net cash provided by financing activities	315,106	192,861	355,686
Increase (decrease) in cash and cash equivalents	10,324	(3,405)	(391)
Cash and cash equivalents, beginning of period	5,201	8,606	8,997
Cash and cash equivalents, end of period	15,525	5,201	8,606
Supplemental disclosure of cash flow information:
Cash paid during the period for interest (net of capitalized interest of $1,653, $754 and $42 for 2016, 2015 and 2014, respectively)	13,943	6,147	5,793
Assumption of loan in connection with acquisition of real estate including loan premium	0	17,097	10,565
Capital expenditure accruals	1,284	610	463
Dividends payable	$ 9,282	$ 7,806	$ 5,244

CONSOLIDATED STATEMENTS OF CASH FLOWS CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Cash Flows [Abstract]
Capitalized interest, net	$ 1,653	$ 754	$ 42

Organization	12 Months Ended
Organization	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Rexford Industrial Realty, Inc. is a self-administered and self-managed full-service real estate investment trust (“REIT”) focused on owning and operating industrial properties in Southern California infill markets. We were formed as a Maryland corporation on January 18, 2013 and Rexford Industrial Realty, L.P. (the “Operating Partnership”), of which we are the sole general partner, was formed as a Maryland limited partnership on January 18, 2013. Through our controlling interest in our Operating Partnership and its subsidiaries, we own, manage, lease, acquire and develop industrial real estate located in Southern California infill markets, and from time to time, acquire or provide mortgage debt secured by industrial property. As of December 31, 2016, our consolidated portfolio consisted of 136 properties with approximately 15.0 million rentable square feet. In addition, we currently manage an additional 19 properties with approximately 1.2 million rentable square feet. The terms “us,” “we,” “our,” and the “Company” as used in these financial statements refer to Rexford Industrial Realty, Inc. and its subsidiaries (including our Operating Partnership). Basis of Presentation These financial statements presented are the consolidated financial statements of Rexford Industrial Realty, Inc. and its subsidiaries, including our Operating Partnership. All significant intercompany balances and transactions have been eliminated in the consolidated financial statements. 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 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 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

Dec. 31, 2016

Accounting Policies [Abstract]

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.

Notes Receivable

We record notes receivable at the unpaid principal balance, net of any deferred origination fees, purchase discounts or premiums and valuation allowances, as applicable. We amortize net deferred origination fees, which are comprised of loan fees collected from the borrower, and purchase discounts or premiums over the contractual life of the loan using the effective interest method and immediately recognize in income any unamortized balances if the loan is repaid before its contractual maturity.

On July 1, 2016, we made a $6.0 million mortgage loan secured by a 64,965 rentable square foot industrial property located in Rancho Cucamonga, California. In connection with this origination, we collected a $0.3 million loan fee from the borrower. The loan bears interest at 10% per annum and matures on June 30, 2017, with one additional six-month extension option available. The borrower has the option to voluntarily prepay any amounts outstanding under the loan at any time, in whole or in part, subject to certain notice requirements, provided that we have received at least six months of interest payments in aggregate, notwithstanding the date of such prepayment. In addition, the borrower has the option to defer up to $14 thousand of interest, otherwise payable per month, to be added to the principal to be paid in full on the maturity date.

As of December 31, 2016, the note had a carrying value of $5.9 million, which represented the original principal amount of $6.0 million, plus $0.1 million of accrued interest added to the principal, less the unamortized origination fee balance of $0.2 million.

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 statements of operations for all periods presented through the date of the disposition. During the year ended December 31, 2014, we sold three of our operating properties, of which two 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 two properties have been reported under discontinued operations in the consolidated statements of operations for the year ended December 31, 2014. We did not have any dispositions during the years ended December 31, 2016 and 2015, which qualified for discontinued operations presentation subsequent to the adoption of ASU 2014-08. See Note 12.

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 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, 2016, we used discount rates ranging from 6.00% and 8.50% and capitalization rates ranging from 5.25% to 7.50%.

In determining the fair value of intangible lease assets or liabilities, we also consider Level 3 inputs. Acquired above- and below-market leases are valued based on the present value of the difference between prevailing market 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. In determining the fair value for acquisitions completed during the year ended December 31, 2016, we used an estimated average lease-up period ranging from six to twelve months. Acquisition costs associated with business combinations 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. We capitalized total acquisition costs of $0.2 million, $0.7 million and $0.3 million during the years ended December 31, 2016, 2015 and 2014, respectively. 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 $1.7 million, $0.8 million and $42 thousand during the years ended December 31, 2016, 2015 and 2014, respectively. We capitalized real estate taxes and insurance aggregating $0.8 million, $0.8 million and $0.1 million during the years ended December 31, 2016, 2015 and 2014, respectively. We capitalized compensation costs for employees who provide construction services of $1.0 million, $0.9 million and $0.6 million during the years ended December 31, 2016, 2015 and 2014, respectively.

Depreciation and Amortization

Real estate, including land, building and land improvements, tenant improvements, furniture, fixtures and equipment and intangible lease assets and liabilities are stated at historical cost less accumulated depreciation and amortization, unless circumstances indicate that the cost cannot be recovered, in which case, the carrying value of the property is reduced to estimated fair value as discussed below in our policy with 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.

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 $0.6 million, $0.5 million and $0.5 million during the years ended December 31, 2016, 2015 and 2014, respectively.

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. 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 statements of operations. See Note 11.

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 years ended December 31, 2016, 2015 and 2014.

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, 2016 and 2015, we have not established a liability for uncertain tax positions.

Derivative Instruments and Hedging Activities

ASC Topic 815: Derivatives and Hedging (“ASC 815”), provides the disclosure requirements for derivatives and hedging activities with the intent to provide users of financial statements with an enhanced understanding of: (a) how and why an entity uses derivative instruments, (b) how the entity accounts for derivative instruments and related hedged items and (c) how derivative instruments and related hedged items affect an entity’s financial position, financial performance and cash flows. Further, qualitative disclosures are required that explain the Company’s objectives and strategies for using derivatives, as well as quantitative disclosures about the fair value of and gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative instruments.

As required by ASC 815, we record all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, and whether we have elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. We may enter into derivative contracts that are intended to economically hedge certain risks, even though hedge accounting does not apply or we elect not to apply hedge accounting. See Note 7.

Revenue Recognition

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 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 12 for discussion of dispositions.

Valuation of Receivables

We may be 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 $1.2 million, $1.5 million and $0.7 million for the years ended December 31, 2016, 2015 and 2014, respectively, as a reduction to rental revenues in our consolidated statements of operations.

Rents and other receivables, net and deferred rent receivables, net consisted of the following as of December 31, 2016 and 2015:



	December 31,
	2016			2015
Rents and other receivables	$	5,565		$	4,938
Allowance for doubtful accounts	(2,816		)	(1,898		)
Rents and other receivables, net	$	2,749		$	3,040

Deferred rent receivable	$	11,903		$	7,913
Allowance for doubtful accounts	(30		)	(86		)
Deferred rent receivable, net	$	11,873		$	7,827

Debt Issuance Costs

Debt issuance costs related to a recognized debt liability are presented in the balance sheet as a reduction from the carrying value of the debt liability. This offset against the debt liability is treated similarly to a debt discount, which effectively reduces the proceeds of a borrowing. For line of credit arrangements, we present debt issuance costs as an asset and amortize the cost over the term of the line of credit arrangement. See Note 5.

Equity Based Compensation

We account for equity based compensation in accordance with ASC Topic 718 Compensation – Stock Compensation. Total compensation cost for all share-based awards is based on the estimated fair market value on the grant date. For share-based awards that vest based solely on a service condition, we recognize compensation cost on a straight-line basis over the total requisite service period for the entire award. For share-based awards that vest based on a market 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 related to our common stock issuances have been reflected as a reduction of additional paid-in capital. Underwriting commissions and offering costs related to our preferred stock issuance have been reflected as a direct reduction of the preferred stock balance.

Earnings Per Share

We calculate earnings per share (“EPS”) in accordance with ASC 260 – Earnings Per Share (“ASC 260”). Under ASC 260, nonvested share-based payment awards that contain non-forfeitable rights to dividends are participating securities and, therefore, are included in computing basic EPS pursuant to the two-class method. The two-class method determines EPS for each class of common stock and participating securities according to dividends declared (or accumulated) and their respective participation rights in undistributed earnings.

Basic EPS is calculated by dividing the net income (loss) attributable to common stockholders by the weighted average number of shares of common stock outstanding for the period.

Diluted EPS is calculated by dividing the net income (loss) attributable to common stockholders by the weighted average number of shares of common stock outstanding determined for the basic EPS computation plus the effect of any dilutive securities. We include unvested shares of restricted stock and unvested LTIP units in the computation of diluted EPS by using the more dilutive of the two-class method or treasury stock method. We include unvested performance units as contingently issuable shares in the computation of diluted EPS once the market criteria are met, assuming that the end of the reporting period is the end of the contingency period. Any anti-dilutive securities are excluded from the diluted EPS calculation. See Note 15.

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 January 5, 2017, the FASB issued ASU 2017-01, Business Combinations - Clarifying the Definition of a Business (“ASU 2017-01’), to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. ASU 2017-01 clarifies that when substantially all of the fair value of the gross assets acquired or disposed of is concentrated in a single identifiable asset or a group of similar assets, the set of assets and activities is not a business. ASU 2017-01 also revises the definition of a business to include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create an output. ASU 2017-01 is effective for annual periods beginning after December 15, 2017, and interim periods within those fiscal years, and early adoption is permitted. Under current guidance, the majority of our property acquisitions are accounted for as business combinations and related acquisition costs are expensed as incurred. Upon the adoption of ASU 2017-01, we expect that most of our property acquisitions will not meet the definition of a business and will be accounted for as asset acquisitions, which will result in the capitalization of acquisition costs as part of the purchase price of the acquisition, instead of being expensed as incurred. We currently plan to early adopt ASU 2017-01, effective January 1, 2017.

On November 17, 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230) - Restricted Cash (“ASU 2016-18”), which requires entities to show the changes in the total of cash, cash equivalents, restricted cash and restricted cash equivalents in the statement of cash flow. ASU 2016-18 is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period, but any adjustments must be reflected as of the beginning of the fiscal year that includes that interim period. The new standard must be adopted retrospectively. We are currently in the process of evaluating the impact of this new pronouncement on our consolidated statements of cash flows.

On February 25, 2016, the FASB issued ASU 2016-02, Leases (“ASU 2016-02”), which requires lessees to recognize the following for all leases (with the exception of short-term leases) at the commencement date: (1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. The ASU also requires lessees to classify leases as either finance or operating leases based on whether or not the lease is effectively a financed purchase of the leased asset by the lessee. This classification is used to evaluate whether the lease expense should be recognized based on an effective interest method or on a straight-line basis over the term of the lease. Lessor accounting is largely unchanged under ASU 2016-02. Additionally, the new ASU will require that lessees and lessors capitalize, as initial direct costs, only these costs that are incurred due to the execution of a lease. As a result, allocated payroll costs and other costs that are incurred regardless of whether the lease is obtained will no longer by capitalized as initial direct costs and will need to be expensed as incurred. ASU 2016-02 is effective for annual periods beginning after December 15, 2018, and early adoption is permitted. ASU 2016-02 requires the use of a modified retrospective approach for all leases existing at, or entered into after, the beginning of the earliest period presented in the consolidated financial statements, with certain practical expedients available. We are currently assessing the impact of the guidance on our consolidated financial statements and notes to 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. ASU 2014-09 does not apply to lease contracts within the scope of Leases (Topic 840). For public entities, ASU 2014-09 is effective for annual reporting periods, including interim reporting periods within those periods, beginning after December 15, 2017. Early application is permitted for annual periods beginning after December 15, 2016. ASU 2014-09 permits the use of either the full retrospective transition method or a modified retrospective transition method. We expect to adopt ASU 2014-09 on January 1, 2018, using the modified retrospective transition method, and are currently evaluating the effect that the guidance will have on our consolidated financial statements and notes to our consolidated financial statements.

Adoption of New Accounting Pronouncements

On March 30, 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation: Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”), to amend and simplify several aspects of the accounting for share-based payment award transactions, including: (i) income tax consequences, (ii) classification of awards as equity or liabilities and (iii) classification on the statement of cash flows. ASU 2016-09 is effective for annual periods beginning after December 15, 2016, and interim periods within those fiscal years, and early adoption is permitted. We have elected to early adopt ASU 2016-09, effective October 1, 2016. As part of the adoption of ASU 2016-09, we have elected to recognize forfeitures in the period in which they occur, whereas former guidance required us to estimate expected forfeitures. The adoption of ASU 2016-09 did not have a material impact on our consolidated financial statements or notes to our consolidated financial statements.

On August 26, 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230) - Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”), which addresses certain classification issues related to the statement of cash flows, including: (i) debt prepayment or debt extinguishment costs, (ii) contingent consideration payments made after a business combination and (iii) distributions received from equity method investees. ASU 2016-15 is effective for public business entities for annual and interim periods in fiscal years beginning after December 15, 2017. Early adoption is permitted, including adoption in an interim period. We have elected to early adopt ASU 2016-15, beginning with the quarter ended September 30, 2016. As part of the adoption of ASU 2016-15, we have elected to classify distributions received from equity method investees under the “nature of the distribution approach,” in which each distribution is evaluated on the basis of the source of the payment and classified as either operating cash inflows or investing cash inflows. The adoption of ASU 2016-15 did not have a material impact on our statement of cash flows.

Effective January 1, 2016, we adopted ASU 2015-02, Amendments to the Consolidation Analysis (“ASU 2015-02”), which changes the way an entity evaluates whether they should consolidate certain legal entities. Specifically, ASU 2015-02 (i) modifies the evaluation of whether limited partnerships and similar legal entities are variable interest entities (“VIEs”) or voting interest entities, (ii) eliminates the presumption that a general partner should consolidate a limited partnership and (iii) affects the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships.

Under the provisions of ASU 2015-02, we concluded that (1) our Operating Partnership is a VIE of the Company because the holders of limited partnership interests do not have substantive kick-out or participating rights and (2) the Company is the primary beneficiary of the VIE, which requires us to consolidate the Operating Partnership. However, as we already consolidate our Operating Partnership under prior consolidation guidance, the adoption of ASU 2015-02 did not have an effect on our consolidated financial statements. Additionally, the assets and liabilities of the Company and the Operating Partnership are substantially the same, as the Company does not have any significant assets other than its investment in the Operating Partnership.

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.

Investments in Real Estate

12 Months Ended

Dec. 31, 2016

Investments, All Other Investments [Abstract]

Investments in Real Estate

REIT Portfolio Acquisition

On April 11, 2016, we entered into a stock purchase agreement (the “Stock Purchase Agreement”) to acquire a private real estate investment trust that owns a portfolio of nine industrial properties totaling approximately 1.5 million rentable square feet (the “REIT Portfolio”) from a third-party seller in exchange for approximately $191.0 million in cash, exclusive of closing costs and credits (the “REIT Portfolio Acquisition”).

On April 15, 2016, pursuant to the Stock Purchase Agreement, we consummated the transaction. As part of the REIT Portfolio Acquisition, we acquired 100% of the private REIT’s common stock and 575 of 700 issued and outstanding shares of the private REIT’S 12.5% cumulative non-voting preferred stock (the “preferred stock”). The remaining 125 shares of preferred stock are held by unaffiliated third parties and will remain outstanding in order to help us comply with federal income tax regulations applicable to REITs. These shares of preferred stock may be redeemed by us at any time, subject to procedural requirements, for an aggregate price of $125,000 plus any dividends thereon that have accrued but have not been repaid at the time of such redemption.

Acquisition Summary

The following table sets forth the wholly-owned industrial properties we acquired during the year ended December 31, 2016:



Property	Submarket	Date of Acquisition	Rentable Square Feet	Number of Buildings	Contractual Purchase Price (in thousands)
8525 Camino Santa Fe⁽¹⁾	San Diego - Central	3/15/2016	59,399	1	$	8,450
28454 Livingston Avenue⁽¹⁾	Los Angeles - San Fernando Valley	3/29/2016	134,287	1	16,000
REIT Portfolio⁽²⁾	Various⁽²⁾	4/15/2016	1,530,814	9	191,000
10750-10826 Lower Azusa Road⁽³⁾	Los Angeles - San Gabriel Valley	5/3/2016	79,050	4	7,660
525 Park Avenue⁽⁴⁾	Los Angeles - San Fernando Valley	6/30/2016	63,403	1	7,550
3233 Mission Oaks Boulevard⁽⁵⁾	Ventura	7/6/2016	457,693	1	25,700
1600 E. Orangethorpe Avenue⁽⁴⁾	Orange County - North	8/24/2016	345,756	6	40,137
14742-14750 Nelson Avenue⁽⁴⁾	Los Angeles - San Gabriel Valley	9/8/2016	145,531	2	15,000
3927 Oceanic Drive⁽⁴⁾	San Diego - North County	10/21/2016	54,740	1	7,200
301-445 Figueroa Street⁽⁴⁾	Los Angeles - South Bay	11/4/2016	133,925	1	13,000
12320 4th Street⁽⁶⁾	Inland Empire - West	12/7/2016	284,676	2	24,435
9190 Activity Road⁽⁴⁾	San Diego - Central	12/16/2016	83,520	1	15,550
			3,372,794	30	$	371,682


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

(2)

The REIT Portfolio Acquisition was funded with available cash on hand, proceeds from a $100.0 million term loan borrowing and proceeds from an equity offering of 10.35 million shares of our common stock. See Notes 5 and 13 for additional information. The REIT Portfolio consists of nine properties located in four of our core submarkets, including Orange County, Los Angeles - San Gabriel Valley, Inland Empire West and Central San Diego.


(3)	This acquisition was partially funded through a tax-deferred like-kind exchange under Section 1031 of the Internal Revenue Code (“1031 Exchange”) using $2.5 million of net cash proceeds from the sale of our property located at 6010 North Paramount Boulevard and available cash on hand.


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


(5)	We acquired this property from our unconsolidated joint venture (see Note 11). Prior to the acquisition, our ownership interest in the property was 15.0%. This acquisition was partially funded through a 1031 Exchange using $18.0 million of net cash proceeds from the sale of our properties located at 1840 Dana Street and 12910 East Mulberry Drive and available cash on hand.


(6)	This acquisition was partially funded through a 1031 Exchange using $18.1 million of net cash proceeds from the sale of our properties located at 22343-22349 La Palma Avenue and 157th Street and available cash on hand.

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	Contractual 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 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):



	2016						2015
	REIT Portfolio Acquisition		Other Acquisitions		Total Acquisitions		Total Acquisitions
Assets:
Land⁽¹⁾	$	101,530	$	102,296	$	203,826	$	124,660
Buildings and improvements⁽²⁾	74,586		72,588		147,174		106,496
Tenant improvements	2,875		2,461		5,336		4,792
Acquired lease intangible assets⁽³⁾	12,103		9,180		21,283		16,236
Other acquired assets⁽⁴⁾	222		305		527		128
Total assets acquired	191,316		186,830		378,146		252,312
Liabilities:
Acquired lease intangible liabilities⁽⁵⁾	934		6,583		7,517		1,713
Notes payable	—		—		—		17,097
Deferred rent liability	—		—		—		977
Other assumed liabilities⁽⁴⁾	1,519		1,364		2,883		1,926
Total liabilities assumed	2,453		7,947		10,400		21,713
Net assets acquired	188,863		178,883		367,746		230,599

(1)

The allocation to land in 2016 includes $0.2 million of capitalized acquisition costs related to the purchase of 14742-14750 Nelson Avenue and 3927 Oceanic Drive, which were accounted for as an asset acquisition. 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.


(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.

(3)

For the REIT Portfolio, acquired lease intangible assets consist of $11.1 million of in-place lease intangibles with a weighted average amortization period of 5.0 years and $1.0 million of above-market lease intangibles with a weighted average amortization period of 7.6 years. For the other 2016 acquisitions, acquired lease intangible assets consist of $8.9 million of in-place lease intangibles with a weighted average amortization period of 5.5 years and $0.3 million of above-market lease intangibles with a weighted average amortization period of 2.4 years. For 2015 acquisitions, acquired lease intangible assets consists of $12.1 million of in-place lease intangibles with a weighted average amortization period of 5.5 years and $4.1 million of above-market tenant lease intangibles with a weighted average amortization period of 11.9 years.


(4)	Includes other working capital assets acquired (prepaid expenses, other receivables and other assets) and liabilities assumed (tenant security deposits and other payables), respectively, at the time of acquisition.


(5)	Represents below-market lease intangibles with a weighted average amortization period of 4.8 years, 10.3 years and 5.9 years for the REIT Portfolio, other 2016 acquisitions and total 2015 acquisitions, respectively.

The following table sets forth the results of operations for the year ended December 31, 2016, for the properties acquired during the year ended December 31, 2016, included in the consolidated statements of operations from the date of acquisition (in thousands):



	Year Ended December 31, 2016
Revenues	$	15,496
Net Income	$	4,503

The following table sets forth unaudited pro-forma financial information (in thousands) as if the closing of our acquisitions during the year ended December 31, 2016, had occurred on January 1, 2015. These unaudited pro-forma results have been prepared for comparative purposes only and include certain adjustments, such as (i) increased rental revenues for the amortization of the net amount of above- and -below-market rents acquired in the acquisitions, (ii) increased depreciation and amortization expenses as a result of tangible and intangible assets acquired in the acquisitions, (iii) increased interest expense for borrowings associated with these acquisitions, (iv) the elimination of acquisition costs that are directly related to these acquisitions and (v) the elimination of equity in income/loss from unconsolidated real estate entities related to our acquisition of the property located at 3233 Mission Oaks Boulevard from our unconsolidated joint venture. 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, 2015, and may not be indicative of future operating results.



	Year Ended December 31,
	2016		2015
Revenues	$	137,744	$	116,585
Net income	$	26,427	$	(76	)
Net income attributable to common stockholders per share - basic	$	0.42	$	—
Net income attributable to common stockholders per share - diluted	$	0.42	$	—

- Definition

The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures.

+ References + Details

Acquired Lease Intangibles

12 Months Ended

Dec. 31, 2016

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,
	2016		2015
Acquired Lease Intangible Assets:
In-place lease intangibles	68,234		49,265
Accumulated amortization	(37,648	)	(25,107	)
In-place lease intangibles, net	30,586		24,158

Above-market tenant leases	10,191		9,062
Accumulated amortization	(4,412	)	(2,837	)
Above-market tenant leases, net	5,779		6,225
Acquired lease intangible assets, net	36,365		30,383

Acquired Lease Intangible Liabilities:
Below-market tenant leases	(12,426	)	(5,227	)
Accumulated accretion	3,477		2,053
Below-market tenant leases, net	(8,949	)	(3,174	)

Below-market ground lease	(290	)	(290	)
Accumulated accretion	109		77
Below-market ground lease, net	(181	)	(213	)
Acquired lease intangible liabilities, net	(9,130	)	(3,387	)

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



	Year Ended December 31,
	2016			2015			2014
In-place lease intangibles⁽¹⁾	$	13,560		$	12,445		$	9,275
Net above (below) market tenant leases⁽²⁾	$	(46	)	$	234		$	452
Above-market ground lease⁽³⁾	$	(32	)	$	(32	)	$	(32	)


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


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


(3)	The accretion of the above-market ground lease is recorded as a decrease to property expenses in the consolidated statements of operations for the periods presented.

The following table summarizes the estimated amortization/(accretion) of our acquisition-related intangibles as of December 31, 2016, 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⁾
2017	$	10,087	$	(403	)	$	(32	)
2018	6,979		(481		)	(32		)
2019	5,413		(417		)	(32		)
2020	3,602		(475		)	(32		)
2021	1,947		(511		)	(32		)
Thereafter	2,558		(883		)	(21		)
Total	$	30,586	$	(3,170	)	$	(181	)


(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 increase 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 Payable

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Notes Payable

The following table summarizes the balance of our indebtedness as of December 31, 2016 and 2015 (in thousands):



	December 31, 2016			December 31, 2015
Principal amount	$	502,476		$	418,698
Less: unamortized discount and deferred loan costs⁽¹⁾	(2,292		)	(544		)
Carrying value	$	500,184		$	418,154

(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.

The following table summarizes the components and significant terms of our indebtedness as of December 31, 2016 and 2015 (dollars in thousands):



	December 31, 2016					December 31, 2015
	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
$60m Term Loan⁽³⁾	$	59,674	$	(204	)	$	60,000	$	(283	)	8/1/2019	⁽⁴⁾	LIBOR+1.90%			3.95	%
Gilbert/La Palma	2,909		(145		)	3,044		(153		)	3/1/2031		5.125	%	⁽⁵⁾	5.39	%
12907 Imperial Highway	5,182		180			5,299		303			4/1/2018		5.950	%	⁽⁶⁾	3.50	%
1065 Walnut Street	9,711		192			9,855		292			2/1/2019	⁽⁷⁾	4.550	%	⁽⁸⁾	3.54	%
Unsecured Debt
$100M Term Loan Facility	100,000		—			100,000		—			6/11/2019		LIBOR+1.50%		⁽⁹⁾	3.40	%	⁽¹⁰⁾
Revolving Credit Facility	—		—			140,500		—			6/11/2018	⁽⁴⁾	LIBOR+1.55%		^(9)(11)	2.32	%
$225M Term Loan Facility	225,000		(1,680		)	—		—			1/14/2023		LIBOR+1.75%		⁽⁹⁾	2.65	%
Guaranteed Senior Notes⁽¹²⁾	100,000		(635		)	100,000		(703		)	8/6/2025		4.290	%		4.36	%
Total	$	502,476	$	(2,292	)	$	418,698	$	(544	)


(1)	Reflects the contractual interest rate under the terms of the loan as of December 31, 2016.


(2)	Reflects the effective interest rate at December 31, 2016, which includes the effect of the amortization of discounts/premiums and deferred loan costs and the effect of interest rate swaps that are effective as of December 31, 2016.


(3)	This term loan is secured by six properties. Beginning August 15, 2016, monthly payments of interest and principal are based on a 30 years amortization table. As of December 31, 2016, the interest rate on this variable-rate term loan has been effectively fixed through the use of two interest rate swaps, one of which is an amortizing swap. See Note 7 for details.


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


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


(6)	Monthly payments of interest and principal based on a 30-year amortization table, with a balloon payment at maturity. We may prepay the loan in full during the 90 day period prior to the maturity date with without incurring prepayment penalties.


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


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


(9)	The LIBOR margin will range from 1.25% to 1.85% for the $100.0 million term loan facility, 1.30% to 1.90% for the unsecured revolving credit facility and 1.50% to 2.25% for the $225.0 million term loan 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.


(10)	As of December 31, 2016, interest on the $100 million term loan has been effectively fixed through the use of two interest rate swaps. See Note 7 for details.


(11)	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.


(12)	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 credit agreement).

Contractual Debt Maturities

The following table summarizes the contractual debt maturities and scheduled amortization payments, excluding debt discounts/premiums and deferred loan costs, as of December 31, 2016, and does not consider extension options available to us as noted in the table above (in thousands):



2017	$	1,213
2018	6,163
2019	167,641
2020	166
2021	175
Thereafter	327,118
Total	$	502,476

$225 Million Term Loan Facility

On January 14, 2016, we entered into a credit agreement for a senior unsecured term loan facility (the “$225 Million Term Loan Facility”) that initially permits aggregate borrowings of up to $125.0 million, the total of which we borrowed the same day at closing. Under the terms of the credit agreement, we are permitted to add one or more incremental term loans in an aggregate amount not to exceed $100.0 million (the “Accordion”), subject to the satisfaction of specified conditions. On April 15, 2016, we exercised the Accordion in full, thereby increasing the aggregate amount outstanding under the $225 Million Term Loan Facility to $225.0 million. The maturity date of the $225 Million Term Loan Facility is January 14, 2023.

Interest on the $225 Million Term Loan Facility accrues 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. Until we obtain an investment grade rating by two or more of Standard & Poor’s, Moody’s Investor Services and Fitch Ratings (the “Rating Agencies”), and elect to use the alternative rates based on our debt rating, 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 our Leverage Ratio (as defined in the credit agreement).

We have the option to voluntarily prepay any amounts borrowed under the $225 Million Term Loan Facility in whole or in part at any time, subject to certain notice requirements. To the extent that we prepay all or any portion of a loan 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 $225 Million Term Loan Facility and repaid or prepaid may not be reborrowed.

The $225 Million Term Loan Facility contains usual and customary events of default including defaults in the payment of principal, interest or fees, defaults in compliance with the covenants set forth in the credit agreement and other loan documentation, cross-defaults to certain other indebtedness, and bankruptcy and other insolvency defaults. If an event of default occurs and is continuing under the $225 Million Term Loan Facility, all outstanding principal amounts, together with all accrued unpaid interest and other amounts owing in respect thereof, may be declared immediately due and payable.

Unsecured Credit Facility

As of December 31, 2016, we have a senior unsecured revolving credit facility with a borrowing capacity of $200.0 million (the “Revolver”) and a senior unsecured term loan facility (the “$100 Million Term Loan Facility”) with a borrowing capacity of $100.0 million (together the “Credit Facility”). The Revolver is scheduled to mature on June 11, 2018, with one 12-month extension option available, subject to certain conditions, and the $100 Million Term Loan Facility is scheduled to mature on 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 $100 Million 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 accrues, at our option, at 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 the Rating Agencies, and elect to use the alternative rates based on our debt rating, the applicable LIBOR margin will range from 1.30% to 1.90% for the Revolver and 1.25% to 1.85% for the $100 Million Term Loan Facility, depending on our Leverage Ratio (as defined in the credit agreement). In February 2015, the Revolver and the $100 Million 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 $100 Million Term Loan Facility may be voluntarily prepaid in whole or in part at any time without premium or penalty. Amounts borrowed under the $100 Million Term Loan Facility and repaid or prepaid may not be 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, 2016, we did not have any borrowings outstanding under our Revolver, leaving $200.0 million available for additional borrowings.

On February 14, 2017, we amended and expanded the Credit Facility. For additional details see Note 17 – Subsequent Events.

Debt Covenants

The $225 Million Term Loan Facility and the Credit Facility both include a series of financial and other covenants that we must comply with, including the following covenants which are tested on a quarterly basis:


•	Maintaining a ratio of total indebtedness to total asset value of not more than 60%;


•	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 $225 Million Term Loan Facility and the Credit Facility provide that our distributions may not exceed the greater of (i) 95.0% of our funds from operations or (ii) the amount required for us to qualify and maintain our status as a REIT and avoid the payment of federal or state income or excise tax in any 12 month period.

Our $100.0 million unsecured guaranteed senior notes (the “Notes”) contain 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 $225 Million Term Loan Facility and 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, which most recently affirmed in August 2016, with a stable outlook. Subject to the terms of the Notes, upon certain events of default, including, but not limited to, (i) a default in the payment of any principal, make-whole payment amount, or interest under the 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 Notes agreement, and (iv) bankruptcy and other insolvency defaults, the principal and accrued and unpaid interest and the make-whole payment amount on the outstanding 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 term loan agreement) of at least 1.10 to 1.00, to be tested quarterly;


•	Maintaining Unencumbered Liquid Assets (as defined in the term loan agreement) of not less than (i) $5,000,000, or (ii) $8,000,000 if we elect to have Line of Credit Availability (as defined in the term loan agreement) included in the calculation, of which $2,000,000 must be cash or cash equivalents, to be tested annually as of December 31 of each year;


•	Maintaining a minimum Fair Market Net Worth (as defined in the term loan agreement) of at least $75,000,000, to be tested annually as of December 31 of each year.

We were in compliance with all of our quarterly and annual debt covenants as of December 31, 2016.

Operating Leases

12 Months Ended

Dec. 31, 2016

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 statements of operations as tenant reimbursements.

Future minimum base rent under operating leases as of December 31, 2016 is summarized as follows (in thousands):



For the year ending December 31:
2017	$	104,077
2018	86,366
2019	71,480
2020	54,295
2021	39,546
Thereafter	85,536
Total	$	441,300

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 Swaps

12 Months Ended

Dec. 31, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Interest Rate Swaps

Risk Management Objective of Using Derivatives

We are exposed to certain risks arising from both our business operations and economic conditions. We principally manage our exposures to a wide variety of business and operational risks through management of our core business activities. We manage economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of our debt funding and the use of derivative financial instruments. Specifically, we enter into derivative financial instruments to manage exposures that arise from business activities that result in the payment of future known and uncertain cash amounts, the value of which are determined by interest rates. Our derivative financial instruments are used to manage differences in the amount, timing, and duration of our known or expected cash payments principally related to our borrowings.

Derivative Instruments

Our objectives in using interest rate derivatives are to add stability to interest expense and to manage exposure to interest rate movements. To accomplish this objective, we primarily use interest rate swaps as part of our interest rate risk management strategy. Interest rate swaps involve the receipt of variable amounts from a counterparty in exchange for us making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. We do not use derivatives for trading or speculative purposes.

The 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 24, 2016, we entered into an interest rate swap transaction to manage our exposure to fluctuations in variable interest rate associated with the $125.0 million initially borrowed under the $225 Million Term Loan Facility. The interest rate swap has a notional value of $125.0 million with an effective date of February 14, 2018 and a maturity date of January 14, 2022. Under the terms of the interest rate swap, we are required to make certain monthly fixed rate payments on a notional value 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 value. The interest rate swap will effectively fix the annual interest rate payable on this notional value of the Company’s debt which may exist under the $225 Million Term Loan Facility at 1.349% plus an applicable margin under the terms of the $225 Million Term Loan Facility.

On May 12, 2016, we entered into a second interest rate swap transaction to manage our exposure to fluctuations in variable interest rate associated with the incremental $100.0 million borrowed under the $225 Million Term Loan Facility. The interest rate swap has a notional value of $100.0 million with an effective date of August 14, 2018, and a maturity date of January 14, 2022. Under the terms of the interest rate swap, we are required to make certain monthly fixed rate payments on a notional value of $100.0 million while the counterparty is obligated to make certain monthly floating rate payments based on LIBOR to us referencing the same notional value. The interest rate swap will effectively fix the annual interest rate payable on this notional value of the Company’s debt which may exist under the $225 Million Term Loan Facility at 1.406% plus an applicable margin under the terms of the $225 Million Term Loan Facility.

The following table sets forth a summary of our interest rate swaps as of December 31, 2016 and 2015. 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 (dollars in thousands):



					Fair Value				Current Notional Amount⁽¹⁾
Derivative Instrument	Effective Date	Maturity Date	Interest Strike Rate		December 31, 2016		December 31, 2015		December 31, 2016		December 31, 2015
Assets⁽²⁾:
Interest Rate Swap	2/14/2018	1/14/2022	1.349	%	$	3,245	$	—	$	—	$	—
Interest Rate Swap	8/14/2018	1/14/2022	1.406	%	$	2,349	$	—	$	—	$	—
Liabilities⁽³⁾:
Interest Rate Swap	1/15/2015	2/15/2019	1.826	%	$	338	$	538	$	30,000	$	30,000
Interest Rate Swap	7/15/2015	2/15/2019	2.010	%	$	440	$	698	$	29,674	$	30,000
Interest Rate Swap	8/14/2015	12/14/2018	1.790	%	$	529	$	849	$	50,000	$	50,000
Interest Rate Swap	2/16/2016	12/14/2018	2.005	%	$	738	$	1,059	$	50,000	$	—


(1)	Represents the notional value of swaps that are effective as of the balance sheet date presented.


(2)	The fair value of these interest rate swaps are included in the line item “Interest rate swap asset” in the accompanying consolidated balance sheets.


(3)	The fair value of these interest rate swaps are included in the line item “Interest rate swap liability” in the accompanying consolidated balance sheets.

Derivative instruments that are subject to master netting arrangements and qualify for net presentation in the consolidated balance sheets are presented on a gross basis in the consolidated balance sheets as of December 31, 2016 and 2015. As of December 31, 2016, if we had recognized these derivative instruments on a net basis, we would have reported an interest rate swap asset of $4.3 million and an interest rate swap liability of $0.8 million, which represent the net balances after the effect of offsetting with counterparties where we had both derivative assets and derivative liabilities.

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



	Year Ended December 31,
	2016			2015			2014
Interest Rate Swaps in Cash Flow Hedging Relationships:
Amount of gain (loss) recognized in AOCI on derivatives (effective portion)	$	4,475		$	(2,781	)	$	(1,402	)
Amount of gain (loss) reclassified from AOCI into earnings under “Interest expense” (effective portion)	$	(2,218	)	$	(1,039	)	$	—
Amount of gain (loss) recognized in earnings under “Interest expense” (ineffective portion and amount excluded from effectiveness testing)	$	—		$	—		$	—

During the next twelve months, we estimate that an additional $1.5 million will be reclassified from AOCI 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.

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624171-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64837297&loc=d3e41620-113959

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624163-113959

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5579240-113959

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4D
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624177-113959

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
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+ Details

Fair Value Measurements

12 Months Ended

Dec. 31, 2016

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, 2016, 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, 2016 and 2015, which we measure on a recurring basis by level within the fair value hierarchy (in thousands).



	Fair Value Measurement Using
	Total Fair Value			Quoted Price in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
December 31, 2016
Interest Rate Swap Asset	$	5,594		$	—	$	5,594		$	—
Interest Rate Swap Liability	$	(2,045	)	$	—	$	(2,045	)	$	—
December 31, 2015
Interest Rate Swap Asset	$	—		$	—	$	—		$	—
Interest Rate Swap Liability	$	(3,144	)	$	—	$	(3,144	)	$	—

Financial Instruments Disclosed at Fair Value

The carrying amounts of cash and cash equivalents, rents and other receivables, other assets, accounts payable, accrued expenses and other liabilities, and tenant security deposits approximate fair value because of their short-term nature.

The fair value of our notes payable was estimated by calculating the present value of principal and interest payments, using 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, 2016 and 2015 (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, 2016	$	507,733	$	—	$	—	$	507,733	$	500,184
December 31, 2015	$	416,497	$	—	$	—	$	416,497	$	418,154

- 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, 2016
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 leasing commissions from entities controlled individually by Mr. Schwimmer. Fees and commissions earned from these entities are included in “Management, leasing and development services” in the consolidated statements of operations. We recorded $0.3 million, $0.2 million and $0.2 million during the years ended December 31, 2016, 2015 and 2014, respectively, in management, leasing and development services revenue.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2016

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.

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, 2016 and 2015, we had a $1.1 million and $1.2 million contingent liability recorded in the line item “Accounts payable and accrued expenses” in our consolidated balance sheets, reflecting the estimated remaining cost to remediate environmental liabilities at West 228th Street that existed prior to the acquisition date. As of December 31, 2016 and 2015, we also had a $1.1 million and $1.2 million corresponding indemnification asset recorded in the line item “Other assets” in our consolidated balance sheets, reflecting the estimated costs we expect the former owner to cover pursuant to the Holdback Agreement.

We expect that the resolution of the environmental matters relating to the above will not have a material impact on our consolidated financial condition, results of operations or cash flows. However, we cannot be sure that we have identified all environmental liabilities at our properties, that all necessary remediation actions have been or will be undertaken at our properties or that we will be indemnified, in full or at all, in the event that such environmental liabilities arise. Furthermore, we cannot assure you that future changes to environmental laws or regulations and their application will not give rise to loss contingencies for future environmental remediation.

Rent Expense

As of December 31, 2016, we lease a parcel of land that is currently being sub-leased to a tenant for a parking lot. This ground lease is scheduled to expire on June 1, 2062. We recognized rental expense for our ground lease in the amount of $0.1 million, $0.1 million and $0.1 million for the years ended December 31, 2016, 2015 and 2014, respectively. As part of conducting our day-to-day business, we also lease office space under operating leases. We recognized rental expense for our corporate and satellite office leases in the amount of $0.5 million, $0.5 million and $0.4 million for the years ended December 31, 2016, 2015 and 2014, respectively.

The future minimum commitment under our corporate and satellite office leases and ground lease as of December 31, 2016, is as follows (in thousands):



For the year ending December 31:	Office Lease		Ground Lease
2017	$	635	$	144
2018	622		144
2019	337		144
2020	—		144
2021	—		144
Thereafter	—		5,820
Total	$	1,594	$	6,540

On September 14, 2016 (the “Effective Date”), we entered into a ground lease for approximately 1.58 million square feet of land located in Corona, California. We intend to develop buildings on the site. Under the terms of the ground lease, we have up to 420 days from the Effective Date, subject to certain conditions, to satisfy and waive certain contingencies (the “Contingencies”). We can terminate the ground lease for any reason during this 420-day contingency period. Then the ground lease will commence 30 days after all of the Contingencies are waived, with no further termination right. Additionally, the commencement date can be delayed by up to 24 months, subject to certain conditions. The term of the ground lease is 99 years following the commencement date. Base ground rent payments will begin nine months from the commencement date. During the first ten years of the ground lease, base ground rent will be approximately $956,000 per year, and once at the beginning of every ten-year period thereafter, base ground rent will increase by 15.0%, subject to certain caps.

Tenant and Construction Related

As of December 31, 2016, we had commitments of approximately $10.1 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, 2016, 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, 2016, all of our properties are located in the Southern California infill markets. The ability of the tenants to honor the terms of their respective leases is dependent upon the economic, regulatory and social factors affecting the markets in which the tenants operate.

During the year ended December 31, 2016, no single tenant accounted for more than 5% of our total rental revenues.

Investment in Unconsolidated Real Estate

12 Months Ended

Dec. 31, 2016

Schedule of Investments [Abstract]

Investment in Unconsolidated Real Estate

Investments in Unconsolidated Real Estate Entities

We hold a 15% equity interest in a joint venture (the “JV”) that previously held three industrial properties located at 3001, 3175 and 3233 Mission Oaks Boulevard in Ventura County. We accounted for our investment in this JV under the equity method of accounting.

On November 17, 2014, the JV sold two of the three properties located at 3001 and 3175 Mission Oaks Boulevard to an unrelated third party 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 these two 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.

On July 6, 2016, the Company acquired the remaining property located at 3233 Mission Oaks Boulevard (the “final JV property”), which comprised substantially all of the JV’s assets, from the JV for a contract price of $25.7 million. Prior to the acquisition, our ownership interest in the final JV property was 15.0%. Following the acquisition, we own 100% of the final JV property and are accounting for it on a consolidated basis (See Note 3). In connection with the JV’s sale of the final JV property, we wrote-off the related $0.6 million unamortized basis adjustment. Immediately after the sale of the final JV property, the carrying value of our investment in unconsolidated real estate entities was $3.6 million.

Following the sale of the final JV property, the JV distributed all of its available cash, with the exception of a small amount of working capital which was retained to cover any residual costs associated with the winding down of the JV. Our share of the JV distributions totaled $5.5 million, which exceeded the $3.6 million carrying value of our investment immediately after the sale of the final JV property. We recorded the $1.9 million of excess distributions as a realized gain in the line item “Equity in income from unconsolidated real estate entities” in the consolidated statements of operations.

The following table presents the combined summarized balance sheet of our unconsolidated joint venture. Amounts provided are attributable to the JV and do not represent our proportionate share, unless otherwise noted (in thousands).



	December 31,
	2016			2015
Assets	$	72		$	24,280
Liabilities	(31		)	(1,250		)
Partners’/members’ equity	$	41		$	23,030
Carrying value of the Company’s investment in unconsolidated real estate entities⁽¹⁾	$	—		$	4,087

(1)

The difference between the carrying value of our investment in unconsolidated real estate entities and our 15% share of the underlying equity in the net assets of the JV are basis differences resulting from the contribution of our JV equity interest as part of our formation transactions that occurred on July 24, 2013. As of December 31, 2016 and 2015, unamortized basis differences were $0.0 million and $0.6 million, respectively.

The following table presents the combined summarized results of operations of our unconsolidated joint venture. These amounts include the results of operations of (i) the properties located at 3001 and 3175 Mission Oaks Boulevard during the period prior to November 17, 2014, and (ii) the final JV property during the period prior to July 6, 2016, when we acquired the remaining 85% ownership interest in the final JV property. Amounts provided are attributable to the JV and do not represent our proportionate share (in thousands).



	Year Ended December 31,
	2016			2015			2014
Revenues	$	1,281		$	2,673		$	7,018
Expenses	(442		)	(1,911		)	(6,526		)
Gain on sale of properties	3,458			—			13,389
Net income	$	4,297		$	762		$	13,881

During the time that the JV owned the three properties, we performed property and construction management services for each property. We earned fees and commissions from managing the JV totaling $0.1 million, $0.2 million and $0.4 million during the years ended December 31, 2016, 2015 and 2014, respectively, which are included in the line item “Management, leasing and development services” in the consolidated statements of operations.

Dispositions and Discontinued Operations

12 Months Ended

Dec. 31, 2016

Discontinued Operations and Disposal Groups [Abstract]

Dispositions and Discontinued Operations

Dispositions

The table below summarizes the properties we sold during the years ended December 31, 2016 and December 31, 2014 (dollars in thousands). We did not complete any dispositions during the year ended December 31, 2015.



Address	Submarket	Date of Disposition	Rentable Square Feet	Contractual Sales Price		Gain (Loss) Recorded
2016 Dispositions:
6010 N. Paramount Boulevard⁽¹⁾	Los Angeles - South Bay	5/2/2016	16,534	$	2,480	$	944
1840 Dana Street⁽¹⁾	Los Angeles - San Fernando Valley	5/25/2016	13,497	$	4,250	$	1,445
12910 East Mulberry Drive⁽¹⁾	Los Angeles - Mid-Counties	6/7/2016	153,080	$	15,000	$	9,174
22343-22349 La Palma Avenue⁽¹⁾	Orange County - North	11/22/2016	115,760	$	17,000	$	4,752
331 East 157th Street⁽¹⁾	Los Angeles - South Bay	11/28/2016	12,000	$	1,975	$	1,062

2014 Dispositions:
1335 Park Center Drive⁽²⁾	San Diego - North County	1/29/2014	124,997	$	10,103	$	2,262
2900 N. Madera Road⁽²⁾	Ventura	3/13/2014	63,305	$	4,350	$	(137	)
500-560 Zenith Drive⁽¹⁾	Other - Glenview, Illinois	8/29/2014	37,992	$	1,822	$	(150	)


(1)	The results of operations and the gain (loss) on sale of this property are reported as part of net income from continuing operations in the consolidated statements of operations.


(2)	The results of operations and the gain (loss) on sale of this property are reported as part of discontinued operations in the consolidated statements of operations.

Discontinued Operations

We did not complete any dispositions during the years ended December 31, 2016 and 2015, which qualified for discontinued operations presentation subsequent to the adoption of ASU 2014-08. The table below summarizes income from discontinued operations, which includes the results of operations (prior to disposition) and the gain on sale of real estate, attributable to the properties located at 1335 Park Center Drive and 2900 N. Madera Road (in thousands).



	Year Ended December 31, 2014
Revenues	$	85
Operating expenses	(57		)
Depreciation and amortization expense	(7		)
Gain on sale of real estate	2,125
Income from discontinued operations	$	2,146

- 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
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Stockholder's Equity

12 Months Ended

Dec. 31, 2016

Equity [Abstract]

Stockholder's Equity

Stockholders’ Equity

Preferred Stock

On August 16, 2016, we completed an underwritten public offering of 3,600,000 shares of our 5.875% Series A Cumulative Redeemable Preferred Stock (the "Series A Preferred Stock") at a price of $25.00 per share. The net proceeds from the offering were approximately $86.7 million after deducting the underwriters’ discount and offering costs totaling $3.3 million. The Series A Preferred Stock is presented in stockholders' equity on the consolidated balance sheet net of issuance costs.

Dividends on our Series A Preferred Stock are cumulative from the date of original issuance and are payable quarterly in arrears on or about the last day of March, June, September and December of each year, beginning on December 31, 2016, at a rate of 5.875% per annum of its $25.00 per share liquidation preference (equivalent to $1.46875 per share per annum). The Series A Preferred Stock has no stated maturity date and is not subject to any mandatory redemption or sinking fund. The holders of our Series A Preferred Stock rank senior to the holders of our common stock with respect to dividend rights and rights upon the Company’s liquidation, dissolution or winding up of its affairs. The holders of our Series A Preferred Stock generally have no voting rights except for limited voting rights if we fail to pay dividends for six or more quarterly dividend periods (whether or not consecutive). We may not redeem the Series A Preferred Stock prior to August 16, 2021, except in limited circumstances to preserve our status as a REIT or pursuant to a specified change of control transaction. On or after August 16, 2021, we may redeem our Series A Preferred Stock, in whole or in part, at any time or from time to time, for cash at a redemption price of $25.00 per share, plus any accumulated, accrued and unpaid distributions through the date of redemption. Upon the occurrence of a specified change of control transaction, we may, at our option, redeem the Series A Preferred Stock in whole or in part within 120 days after the change of control occurred, by paying $25.00 per share in cash, plus any accrued and unpaid distributions through the date of redemption. If we do not exercise our right to redeem the Series A Preferred Stock, upon the occurrence of a specified change of control transaction, the holders of Series A Preferred Stock have the right to convert some or all of their shares into a number of the Company’s common shares equivalent to $25.00 plus accrued and unpaid dividends, but not to exceed a cap of 2.2738 shares of common stock per share of Series A Preferred Stock, subject to certain adjustments.

Common Stock Issuances

On April 15, 2016, we completed a public follow-on offering of 10,350,000 shares of our common stock, including the underwriters’ exercise in full of its option to purchase 1,350,000 shares of our common stock, at an offering price of $17.65 per share. The net proceeds of the follow-on offering were $174.4 million, after deducting the underwriters’ discount and offering costs totaling $8.3 million. On April 15, 2016, we contributed the net proceeds of the offering to our Operating Partnership in exchange for 10,350,000 common units of partnership interests in the Operating Partnership (“OP Units”).

On February 3, 2015, we completed a public follow-on offering of 11,500,000 shares of our common stock at an offering price of $16.00 per share. The net proceeds of the follow-on offering were $176.2 million, after deducting the underwriters’ discount and offering costs totaling $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 OP Units.

On August 19, 2014, we completed a public follow-on offering of 17,250,000 shares of our common stock at an offering price of $13.50 per share. The net proceeds of the follow-on offering were $221.8 million, after deducting the underwriters’ discount and offering costs of totaling $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.

ATM Program

On April 17, 2015, we established an at-the-market equity offering program (the “ATM Program”) pursuant to which we may sell from time to time up to an aggregate of $125.0 million of our common stock through sales agents. During the year ended December 31, 2016, we sold 402,683 shares of our common stock under the ATM Program, at a weighted average price of $23.13 per share, for gross proceeds of $9.3 million. The net proceeds from these sales were $9.2 million, after deducting the sales agents’ fee. During the year ended December 31, 2015, we sold 500 shares of our common stock under the ATM Program at a price of $14.30 per share, for gross proceeds of $7 thousand. As of December 31, 2016, we had the capacity to issue up to an additional $115.7 million of common stock under the ATM Program. Actual sales going forward, if any, will depend on a variety of factors, including among others, market conditions, the trading price of our common stock, determinations by us of the appropriate sources of funding for us and potential uses of funding available to us.

Noncontrolling Interests

Noncontrolling interests in our Operating Partnership relate to interests in the partnership that are not owned by us. As of December 31, 2016, noncontrolling interests consisted of 1,966,996 OP Units and 41,688 fully-vested LTIP units and represented approximately 2.9% of our Operating Partnership as of December 31, 2016. OP Units and shares of our common stock have essentially the same economic characteristics, as they share equally in the total net income or loss distributions of our Operating Partnership. Investors who own OP Units have the right to cause our Operating Partnership to redeem any or all of their units in our Operating Partnership for an amount of cash per unit equal to the then current market value of one share of common stock, or, at our election, shares of our common stock on a one-for-one basis. See Note 14 for a description of LTIP units.

During the years ended December 31, 2016, 2015 and 2014, we redeemed 59,646, 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 $0.6 million, $3.2 million, and $7.8 million, respectively, from noncontrolling interests to total stockholders’ equity.

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. We did not redeem any OP units for cash during the years ended December 31, 2016 and 2014.

As described in Note 3, as part of the REIT Portfolio Acquisition, we acquired 100% of the private REIT’s common stock and 575 of 700 issued and outstanding shares of the private REIT’s 12.5% cumulative non-voting preferred stock. The remaining 125 shares of preferred stock (the “noncontrolling preferred stock”) may be redeemed by us at any time, subject to procedural requirements, at a redemption price equal to $1,000 per share, or an aggregate price of $125,000, plus any dividends thereon that have accrued but have not been repaid at the time of such redemption (the “redemption price”). The noncontrolling preferred stock is entitled to a liquidation preference that is equal to the redemption price noted above. The noncontrolling preferred stock has been classified as noncontrolling interests in our consolidated balance sheets and has balance equal to its liquidation preference.

Changes in Accumulated Other Comprehensive Income (Loss)

The following table summarizes the changes in our AOCI balance for the years ended December 31, 2016 and 2015, which consists solely of adjustments related to our cash flow hedges:



	2016			2015
Accumulated other comprehensive loss - beginning balance	$	(3,033	)	$	(1,331	)
Other comprehensive income (loss) before reclassifications	4,475			(2,781		)
Amounts reclassified from accumulated other comprehensive loss to interest expense	2,218			1,039
Net current period other comprehensive income (loss)	6,693			(1,742		)
Less other comprehensive (income) loss attributable to noncontrolling interests	(215		)	40
Other comprehensive income (loss) attributable to common stockholders	6,478			(1,702		)
Accumulated other comprehensive income (loss) - ending balance	$	3,445		$	(3,033	)

Dividends

Earnings and profits, which determine the taxability of dividends to stockholders, may differ from income reported for financial reporting purposes due to the differences for federal income tax purposes in the treatment of loss on extinguishment of debt, revenue recognition and compensation expense and in the basis of depreciable assets and estimated useful lives used to compute depreciation expense.

The following table summarizes the tax treatment of common stock dividends and preferred stock dividends per share for federal income tax purposes for the years ended December 31, 2016, 2015 and 2014:



	Common Stock												Preferred Stock
	Year Ended December 31,
	2016				2015				2014				2016
Ordinary Income	$	0.452085	99.66	%	$	0.478948	93.91	%	$	0.460750	92.15	%	$	0.548884	99.66	%
Return of Capital	—		—	%	—		—	%	—		—	%	—		—	%
Capital Gain⁽¹⁾	0.001562		0.34	%	0.031052		6.09	%	0.039250		7.85	%	0.001896		0.34	%
Total	$	0.453647	100.00	%	$	0.510000	100.00	%	$	0.500000	100.00	%	$	0.550780	100.00	%


(1)	100.0%, 0.0% and 19.0% of the capital gains reported for the years ended December 31, 2016, 2015 and 2014, respectively, are 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

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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
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+ Details

Incentive Award Plan

12 Months Ended

Dec. 31, 2016

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”), performance units in our operating partnership (“Performance Units”), and other stock based 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, LTIP units and Performance Units that may be issued or transferred pursuant to the Plan is 2,272,689 shares (of which 920,381 shares of common stock, LTIP units and Performance Units remain available for issuance as of December 31, 2016). Shares and units granted under the Plan may be authorized but unissued shares or 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 or 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 more fully described in the Operating Partnership’s partnership agreement (“book-up events”), the LTIP Units and Performance Units can over time achieve full parity with the common units for all purposes. If such parity is reached, vested LTIP Units and vested Performance Units may be converted into an equal number of OP Units, and, upon conversion, enjoy all rights of OP Units. LTIP Units, whether vested or not, receive the same quarterly per-unit distributions as OP Units, which equal the per-share distributions on shares of our common stock. Performance Units that have not vested receive a quarterly per-unit distribution equal to 10% of the per-unit distribution paid on OP Units.

On December 29, 2016, the compensation committee approved the grant under the Plan to Messrs. Schwimmer, Frankel and Khan (collectively, the “executives”) of 116,690 LTIP Units, that are subject to time-based vesting requirements (the “2016 LTIP Award”), and 199,000 Performance Units, that are subject to market-based vesting requirements (the “2016 Performance Award”).

On December 15, 2015, the compensation committee approved the grant under the Plan to the executives of 166,669 LTIP Units, that are subject to time-based vesting requirements (the “2015 LTIP Award”), and 315,998 Performance Units, that are subject to market-based vesting requirements (the “2015 Performance Award”).

LTIP Unit Awards

The 2016 LTIP Award and the 2015 LTIP Award are scheduled to vest in equal installments of 25% on each of the first, second, third and fourth anniversaries of the grant date, subject to each executive’s continued employment through the applicable vesting date, and subject to earlier vesting upon certain termination of employment or a change in control event, as described in the award agreements. Compensation expense will be recognized using the accelerated expense attribution method, with each vesting tranche valued as a separate award. The total grant date fair value of the 2016 LTIP Award and the 2015 LTIP Awards is based on the Company’s most recent closing stock price preceding the grant and the application of a discount for post-vesting restrictions and uncertainty regarding the occurrence and timing of book-up events. The following table summarizes these fair valuation assumptions and the grant date fair value of the awards:



	2016 LTIP Award			2015 LTIP Award
Valuation date	December 29, 2016			December 15, 2015
Closing share price of common stock	$	22.71		$	15.90
Discount for post-vesting restrictions and book-up events	5.0		%	5.0		%
Grant date fair value (in thousands)	$	2,518		$	2,518

Performance Unit Awards

For each of the 2016 Performance Award and the 2015 Performance Award (collectively the “Performance Awards”), the number of Performance Units that ultimately vest, which will range from 0% to 100% of the units granted, will be based on the Company’s total shareholder return (“TSR”) over a three-year performance period, and further subject to the executive’s continued employment. For the 2016 Performance Award, the three-year performance period begins on December 29, 2016, and ends on December 28, 2019, and for the 2015 Performance Award, the three-year performance period begins on December 15, 2015, and ends on December 14, 2018. TSR is measured as the appreciation in the price per share of the Company’s common stock plus dividends paid during the three-year performance period, assuming the reinvestment in common stock of all dividends paid during the performance period. Each of the Performance Awards 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 three-year 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 three-year performance period. As noted above, Performance Units that have not vested will receive 10% of the distributions paid on OP units. The remaining 90% of the distributions will accrue (assuming the reinvestment in common stock of these distributions) during the three-year performance period and a portion will be paid out as distribution equivalent units based upon the number of absolute and relative units that ultimately vest.

The TSR levels and vesting percentages for the absolute TSR base units and relative TSR base units for the 2016 Performance Awards and the 2015 Performance Awards are summarized in the following tables:



	2016 Performance Award
	Absolute TSR Base Units				Relative TSR Base Units
Level	Company TSR Percentage		Absolute TSR Vesting Percentage		Peer Group Relative Performance	Relative TSR Vesting Percentage
	< 21%		—	%	< 50th Percentile	—	%
“Threshold Level”	21	%	25	%	50th Percentile	25	%
“Target Level”	35.5	%	60	%	62.5th Percentile	60	%
“Maximum Level”	≥ 50%		100	%	≥ 75th Percentile	100	%



	2015 Performance Award
	Absolute TSR Base Units				Relative TSR Base Units
Level	Company TSR Percentage		Absolute TSR Vesting Percentage		Peer Group Relative Performance	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	%

If the Company’s TSR percentage or the peer group relative performance falls between the levels specified in the tables above, 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 Awards are 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 three-year performance period, and (3) the present value of the distribution equivalent units expected to be awarded at the end of the three-year performance period. The fair value of the Performance Awards were measured using a Monte Carlo simulation pricing model, which uses 100,000 trial simulations to estimate the probability that the market conditions, TSR on both an absolute and relative basis, will be achieved over the three-year performance period. The following table summarizes the assumptions we used in the Monte Carlo simulations and the grant date fair value of the Performance Awards.



	2016 Performance Award			2015 Performance Award
Valuation date	December 29, 2016			December 15, 2015
Expected share price volatility of the Company	20.0		%	24.0		%
Expected share price volatility of peer group companies - low end of range	21.0		%	21.0		%
Expected share price volatility of peer group companies - high end of range	50.0		%	62.0		%
Expected dividend yield	2.80		%	3.40		%
Risk-free interest rate	1.49		%	1.28		%
Grant date fair value (in thousands)	$	1,753		$	2,157

The expected share price volatilities are based on a mix of the historical and implied volatilities of the Company and the peer group companies. The expected dividend yield is based on our average historical dividend yield since our IPO and our dividend yield as of the valuation date for each award. The risk-free interest rate is based on U.S. Treasury note yields matching the three-year time period of the performance period.

Compensation cost 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 Common Stock

Shares of our restricted common stock generally may not be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution or, subject to the consent or the 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 common stock to various employees of the Company, other than executives, for the purpose of attracting or retaining the services of these key individuals. These grants typically vest in four equal, annual installments on each of the first four anniversaries of the date of grant, subject to the employee’s continued service. During the year ended December 31, 2016, we granted 91,134 shares of restricted common stock to non-executive 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 $17.13 to $22.97 per share.

In accordance with the Rexford Industrial Realty, Inc. Non-Employee Director Compensation Program, each year on the date of the annual meeting of the Company’s stockholders, we grant shares of restricted common stock to each of our non-employee directors who are re-elected for another year of service. These awards vest on the 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, 2016, we granted 2,514 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 $19.89 closing share price of the Company’s common stock on the date of grant.

The following table sets forth our unvested restricted stock activity for the years ended December 31, 2016, 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		$	14.30
Granted	103,704		$	18.03
Forfeited	(23,968	)	$	15.37
Vested⁽¹⁾⁽²⁾	(125,350	)	$	14.63
Balance at December 31, 2016	287,827		$	15.92


(1)	The total fair value of vested shares, which is calculated as the number of shares vested multiplied by the closing share price of the Company’s common stock on the vesting date, was $2.6 million, $1.6 million and $0.5 million for the years ended December 31, 2016, 2015 and 2014, respectively.


(2)	Total shares vested include 36,374, 12,670 and 6,928 shares of common stock that were tendered by employees during the years ended December 31, 2016, 2015 and 2014, respectively, to satisfy minimum statutory tax withholding requirements associated with the vesting of restricted shares.

The following table sets forth the vesting schedule of total unvested shares of restricted common stock outstanding as of December 31, 2016:



Twelve months ending December 31:	Shares
2017	167,026
2018	60,466
2019	39,158
2020	21,177
	287,827

Compensation Expense

The following table sets forth the amounts expensed and capitalized for all share-based awards for the reported periods presented below (in thousands):



	Year Ended December 31,
	2016	2015	2014
Expensed share-based compensation⁽¹⁾	3,835	1,752	1,018
Capitalized share-based compensation⁽²⁾	147	101	107
Total share-based compensation	3,982	1,853	1,125


(1)	Amounts expensed are included in “General and administrative” and “Property expenses” in the accompanying consolidated statements of operations.


(2)	Amounts capitalized, which relate to employees who provide construction and leasing services, are included in “Building and improvements” and “Deferred leasing costs, net” in the accompanying consolidated balance sheets.

As of December 31, 2016, there was $9.9 million of total unrecognized compensation cost related to all unvested share-based awards expected to vest, of which we expect $0.4 million will be capitalized for employees who provide leasing and construction services. As of December 31, 2016, this total unrecognized compensation cost is expected to be recognized over a weighted average remaining period of 28 months.

Earnings Per Share

12 Months Ended

Dec. 31, 2016

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,
	2016			2015			2014
Numerator:
Net income (loss) from continuing operations	$	25,876		$	1,950		$	(1,170	)
Net income (loss) from continuing operations attributable to noncontrolling interests	(750		)	(76		)	97
Preferred stock dividends	(1,983		)	—			—
Income from continuing operations attributable to participating securities	(302		)	(223		)	(102		)
Income (loss) from continuing operations attributable to common stockholders	22,841			1,651			(1,175		)
Income from discontinued operations	—			—			2,146
Income from discontinued operations attributable to noncontrolling interests	—			—			(177		)
Income from discontinued operations attributable to common stockholders	—			—			1,969
Net income attributable to common stockholders	$	22,841		$	1,651		$	794

Denominator:
Weighted average shares of common stock outstanding - basic	62,723,021			54,024,923			31,953,506
Effect of dilutive securities - performance units	242,533			—			—
Weighted average shares of common stock outstanding - diluted	62,965,554			54,024,923			31,953,506

Earnings per share - Basic and Diluted:
Net income (loss) from continuing operations attributable to common stockholders	$	0.36		$	0.03		$	(0.04	)
Net income from discontinued operations attributable to common stockholders	$	—		$	—		$	0.06
Net income attributable to common stockholders	$	0.36		$	0.03		$	0.02

Unvested share-based payment awards that contain non-forfeitable rights to dividends, whether paid or unpaid, are accounted for as participating securities. As such, unvested shares of restricted stock, unvested LTIP Units and unvested Performance Units are considered participating securities. Participating securities are included in the computation of basic EPS pursuant to the two-class method. The two-class method determines EPS for each class of common stock and each participating security according to dividends declared (or accumulated) and their respective participation rights in undistributed earnings. Participating securities are also included in the computation of diluted EPS using the more dilutive of the two-class method or treasury stock method for unvested shares of restricted stock and LTIP Units, and by determining if certain market conditions have been met at the reporting date for unvested Performance Units.

The effect of including unvested shares of restricted stock and unvested LTIP Units using the treasury stock method was excluded from our calculation of weighted average shares of common stock outstanding – diluted, as their inclusion would have been anti-dilutive.

Performance Units, which are subject to vesting based on the Company achieving certain TSR levels over a three-year performance period, are included as contingently issuable shares in the calculation of diluted EPS when TSR has been achieved at or above the threshold level, assuming the reporting period is the end of the performance period, and the effect is dilutive. As of December 31, 2016, for the 2015 Performance Award, the Company’s TSR performance relative to a peer group was above the 75th percentile, or maximum level, and the Company’s absolute TSR was approximately 49.5%, which is between the target and maximum levels. For the 2016 Performance Award, the Company’s absolute and relative TSR were both below the threshold level. The corresponding number of dilutive securities have been included in the computation of the weighted average diluted shares above.

We also consider the effect of other potentially dilutive securities, including OP Units, which may be redeemed for shares of our common stock under certain circumstances, and include them in our computation of diluted EPS when their inclusion is dilutive.

Quarterly Information (unaudited)

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

Quarterly Information (unaudited)

The following tables set forth selected quarterly information for the years ended December 31, 2016 and 2015 (in thousands except per share amounts):



	Three Months Ended
	December 31, 2016		September 30, 2016		June 30, 2016		March 31, 2016
Total revenues	$	34,777	$	33,303	$	30,608	$	27,504
Net operating income⁽¹⁾	$	25,310	$	23,966	$	22,538	$	19,827
Net income	$	8,546	$	3,061	$	12,792	$	1,477
Net income attributable to common stockholders	$	6,928	$	2,267	$	12,299	$	1,347
Net income attributable to common stockholders per share - basic	$	0.11	$	0.03	$	0.19	$	0.02
Net income attributable to common stockholders per share - diluted	$	0.10	$	0.03	$	0.19	$	0.02



	Three Months Ended
	December 31, 2015		September 30, 2015		June 30, 2015		March 31, 2015
Total revenues	$	26,164	$	23,674	$	22,722	$	21,340
Net operating income⁽¹⁾	$	18,941	$	17,098	$	16,407	$	15,160
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	$	—	$	—


(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, 2016
Subsequent Events [Abstract]
Subsequent Events	17. Subsequent Events ATM Program During January 2017, we sold 168,685 shares of our common stock under the ATM Program, at a weighted average price of $23.16 per share, for gross proceeds of $3.9 million and net proceeds of $3.8 million, after deducting the sales agents’ fee. Amended and Restated Credit Agreement On February 14, 2017, we amended our existing $300 million Credit Facility by entering into a Second Amended and Restated Credit Agreement (the “Amended Credit Agreement”), which provides for a $450.0 million senior unsecured credit facility, comprised of a $350.0 million unsecured revolving credit facility (the "Amended Revolver") and a $100.0 million unsecured term loan facility (the "Amended Term Loan"). The Amended Revolver is scheduled to mature on February 12, 2021, and has two six-month extension options available, and the Amended Term Loan is scheduled to mature on February 14, 2022. Under the terms of the Amended Credit Agreement, we may request additional lender commitments up to an additional aggregate $550.0 million, which may be comprised of additional revolving commitments under the Amended Revolver, an increase to the Amended Term Loan, additional term loan tranches or any combination of the foregoing. Interest on the Amended Credit Agreement, is generally to be paid based upon, at our option, either (i) LIBOR plus an applicable margin that is based upon our leverage ratio or (ii) the Base Rate (which is defined as the highest of (a) the federal funds rate plus 0.50%, (b) the administrative agent’s prime rate or (c) the Eurodollar Rate plus 1.00%) plus an applicable margin that is based on our leverage ratio. The margins for the Amended Revolver range in amount from 1.10% to 1.50% for LIBOR-based loans and 0.10% to 0.50% for Base Rate-based loans, depending on our leverage ratio. The margins for the Amended Term Loan range in amount from 1.20% to 1.70% for LIBOR-based loans and 0.20% to 0.70% for Base Rate-based loans, depending on our leverage ratio. If we attain one additional investment grade rating by one or more of Standard & Poor’s or Moody’s Investor Services to complement our current investment grade Fitch rating, we may elect to convert the pricing structure under the Amended Credit Agreement to be based on such rating. In that event, the margins for the Amended Revolver will range in amount from 0.825% to 1.55% for LIBOR-based loans and 0.00% to 0.55% for Base Rate-based loans, depending on such rating. The margins for the Amended Term Loan will range in amount from 0.90% to 1.75% for LIBOR-based loans and 0.00% to 0.75% for Base Rate-based loans, depending on such rating. In addition to the interest payable on amounts outstanding under the Amended Revolver, we are required to pay an applicable facility fee, based upon our leverage ratio, on each lender's commitment amount under the Amended Revolver, regardless of usage. The applicable facility fee will range in amount from 0.15% to 0.30%, depending on our leverage ratio. In the event that we convert the pricing structure to be based on an investment-grade rating, the applicable facility fee will range in amount from 0.125% to 0.30%, depending on such rating. Acquisition On February 17, 2017, we acquired a property located at 28901-28903 Avenue Paine in Valencia, California for a contract price of approximately $17.1 million using available cash on hand and borrowings under our Revolver. The property consists of one single-tenant building with 111,346 rentable square feet.

Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2016

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

Schedule III – Real Estate and Accumulated Depreciation

REXFORD INDUSTRIAL REALTY, INC.

SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION

(Dollars in thousands)



				Initial Cost				Costs Capitalized Subsequent to Acquisition			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	$	9,493		$	3,875	$	11,900	$	15,775	$	(5,405	)	1965, 2005 / 2003	2002
300 South Lewis Rd.	Camarillo, CA	--	⁽³⁾	4,150		3,050		6,921			4,150		9,971		14,121		(5,072		)	1960-1963 / 2006	2003
1400 South Shamrock	Monrovia, CA	--		2,317		2,534		675			2,317		3,209		5,526		(1,963		)	1957, 1962 / 2004	2003
2220-2260 Camino del Sol	Oxnard, CA	--	⁽³⁾	868		—		4,143			868		4,143		5,011		(1,306		)	2005	2003
14250-14278 Valley Blvd.	La Puente, CA	--		2,539		2,020		2,271			2,539		4,291		6,830		(2,101		)	1974 / 2007	2003
2300-2386 East Walnut Ave.	Fullerton, CA	--	⁽³⁾	6,817		6,089		760			6,817		6,849		13,666		(3,279		)	1985-1986 / 2005	2004
15140 & 15148 Bledsoe St., 13065 - 13081 Bradley Ave.	Sylmar, CA	--		2,525		3,380		6,045			2,525		9,425		11,950		(3,081		)	1969, 2008 / 2006 / 2016	2004
28340 - 28400 Avenue Crocker	Valencia, CA	--		2,666		3,343		3,339			2,666		6,682		9,348		(2,465		)	1987 / 2006 / 2015	2004
21-29 West Easy St.	Simi Valley, CA	--		2,346		4,522		1,992			2,346		6,514		8,860		(2,600		)	1991 / 2006	2004
10439-10477 Roselle St.	San Diego, CA	--		4,711		3,199		1,065			4,711		4,264		8,975		(504		)	1970 / 2007	2013
12345 First American Way	Poway, CA	--		2,469		2,489		2,818			800		3,776		4,576		(1,481		)	2002 / 2007	2005
1631 N. Placentia Ave., 2350 - 2384 E. Orangethorpe Ave.	Anaheim, CA	--		4,893		1,386		1,185			4,893		2,571		7,464		(1,082		)	1973 / 2007	2005
2575 Pioneer Ave.	Vista, CA	--		1,784		2,974		1,824			1,784		4,798		6,582		(2,020		)	1988 / 2006	2004
311, 319 & 329 157th St.	Gardena, CA	--		2,508		529		1,314			2,508		1,843		4,351		(738		)	1960-1971 / 2006-2011	2006
9641 - 9657 Santa Fe Springs Rd.	Santa Fe Springs, CA	--		3,740		260		6,897			3,740		7,157		10,897		(1,696		)	1982 / 2009	2006
28159 Avenue Stanford	Valencia, CA	--		1,849		6,776		3,562			1,849		10,338		12,187		(3,768		)	1987 / 2008 / 2015	2006
15715 Arrow Highway	Irwindale, CA	--	⁽³⁾	3,604		5,056		(86		)	3,604		4,970		8,574		(2,021		)	1989	2006
2431-2465 Impala Dr.	Carlsbad, CA	--		5,470		7,308		3,547			5,470		10,855		16,325		(3,968		)	1983 / 2006	2006
6200 & 6300 Yarrow Dr.	Carlsbad, CA	--		5,001		7,658		3,441			5,001		11,099		16,100		(4,758		)	1977-1988 / 2006	2005



			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
6231 & 6241 Yarrow Dr.	Carlsbad, CA	--	3,473	5,119	1,050	3,473	6,169	9,642	(2,689	)	1977 / 2006	2006
9160 - 9220 Cleveland Ave., 10860 6th St.	Rancho Cucamonga, CA	--	3,647	11,867	2,354	3,647	14,221	17,868	(6,653	)	1988-1989 / 2006	2006
9375 Archibald Ave.	Rancho Cucamonga, CA	--	3,572	3,239	2,001	1,808	3,817	5,625	(1,640	)	1980 / 2007	2007
18118-18120 S. Broadway	Carson, CA	--	3,013	2,161	324	3,013	2,485	5,498	(438	)	1957 / 1989	2013
901 W. Alameda Ave.	Burbank, CA	--	6,304	2,996	5,175	6,304	8,171	14,475	(3,178	)	1969 / 2009	2007
1938-1946 E. 46th St.	Vernon, CA	--	7,015	7,078	1,589	7,015	8,667	15,682	(2,893	)	1961, 1983 / 2008-2010	2007
700 Allen Ave., & 1830 Flower	Glendale, CA	--	3,386	666	1,359	3,386	2,025	5,411	(351	)	1949, 1961 / 2011-2012	2008
89-91 N. San Gabriel Blvd., 2670-2674 Walnut Ave., 2675 Nina St.	Pasadena, CA	--	1,759	2,834	1,892	1,759	4,726	6,485	(1,399	)	1947, 1985 / 2009	2008
9220-9268 Hall Rd.	Downey, CA	--	6,974	2,902	131	6,974	3,033	10,007	(1,075	)	2008	2009
131 W. 33rd St.	National City, CA	--	2,390	5,029	333	2,390	5,362	7,752	(2,181	)	1969 / 2008	2006
5803 Newton Dr.	Carlsbad, CA	--	3,152	7,155	1,664	1,692	5,697	7,391	(2,431	)	1997-1999 / 2009	2007
929, 935, 939 & 951 Poinsettia Ave.	Vista, CA	--	4,453	5,900	703	2,830	4,641	7,471	(1,775	)	1989 / 2007	2008
200-220 South Grand Ave.	Santa Ana, CA	--	2,579	667	259	2,371	880	3,251	(318	)	1973 / 2008	2007
3720-3750 W. Warner Ave.	Santa Ana, CA	--	3,028	1,058	744	3,028	1,802	4,830	(665	)	1973 / 2008	2007
6750 Unit B-C - 6780 Central Ave.	Riverside, CA	--	3,323	1,118	1,184	1,441	1,780	3,219	(839	)	1978	2007
77-700 Enfield Lane	Palm Desert, CA	--	1,110	1,189	324	397	806	1,203	(341	)	1990	2007
1050 Arroyo Ave.	San Fernando, CA	--	3,092	1,900	399	3,092	2,299	5,391	(351	)	1969 / 2012	2010
600-650 South Grand Ave.	Santa Ana, CA	--	4,298	5,075	669	4,298	5,744	10,042	(816	)	1988	2010
121-125 N. Vinedo Ave.	Pasadena, CA	--	3,481	3,530	1	3,481	3,531	7,012	(699	)	1953 / 1993	2011
3441 West MacArthur Blvd.	Santa Ana, CA	--	4,179	5,358	5	4,179	5,363	9,542	(731	)	1973	2011
6701 & 6711 Odessa Ave.	Van Nuys, CA	--	1,582	1,856	99	1,582	1,955	3,537	(252	)	1970-1972 / 2012	2011
13914-13932 Valley Blvd.	La Puente, CA	--	2,372	2,431	313	2,372	2,744	5,116	(391	)	1978, 1988 / 2012	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
10700 Jersey Blvd.	Rancho Cucamonga, CA	--		3,158	4,860	360	3,158	5,220	8,378	(804	)	1988-1989	2011
15705, 15709 Arrow Highway & 5220 Fourth St.	Irwindale, CA	--		3,608	2,699	171	3,608	2,870	6,478	(440	)	1987	2011
20920-20950 Normandie Ave.	Torrance, CA	--		3,253	1,605	254	3,253	1,859	5,112	(279	)	1989	2011
14944, 14946, 14948 Shoemaker Ave.	Santa Fe Springs, CA	--		3,720	2,641	307	3,720	2,948	6,668	(466	)	1978 / 2012	2011
6423-6431 & 6407-6119 Alondra Blvd.	Paramount, CA	--		1,396	925	15	1,396	940	2,336	(153	)	1986	2011
1400 S. Campus Ave.	Ontario, CA	--		3,266	2,961	2	3,266	2,963	6,229	(1,331	)	1964-1966, 1973, 1987	2012
15041 Calvert St.	Van Nuys, CA	--		4,096	1,570	2	4,096	1,572	5,668	(243	)	1971	2012
701 Del Norte Blvd.	Oxnard, CA	--		3,082	6,230	101	3,082	6,331	9,413	(935	)	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	2,083	17,978	41,554	59,532	(5,595	)	1966, 1992, 1993, 1994	2013
8900-8980 Benson Ave., 5637 Arrow Highway	Montclair, CA	--		2,285	4,778	709	2,285	5,487	7,772	(858	)	1974	2013
1661 240th St.	Los Angeles, CA	--		3,043	2,550	3,614	3,043	6,164	9,207	(742	)	1975 / 1995	2013
8101-8117 Orion Ave.	Van Nuys, CA	--		1,389	3,872	246	1,389	4,118	5,507	(584	)	1978	2013
18310-18330 Oxnard St.	Tarzana, CA	--		2,497	5,494	710	2,497	6,204	8,701	(904	)	1973	2013
1100-1170 Gilbert St. & 2353-2373 La Palma Ave.	Anaheim, CA	2,764	⁽⁴⁾	4,582	5,135	200	4,582	5,335	9,917	(887	)	1972 / 1990 / 2013	2013
280 Bonita Ave., 2743 Thompson Creek Rd.	Pomona, CA	--		8,001	17,734	9	8,001	17,743	25,744	(2,037	)	1983	2013
2950 Madera Rd.	Simi Valley, CA	--	⁽³⁾	3,601	8,033	2	3,601	8,035	11,636	(918	)	1988 / 2005	2013
10635 Vanowen St.	Burbank, CA	--		1,517	1,833	618	1,517	2,451	3,968	(286	)	1977	2013
7110 Rosecrans Ave.	Paramount, CA	--		3,117	1,894	870	3,117	2,764	5,881	(280	)	1972 / 2015	2014
14723-14825 Oxnard St.	Van Nuys, CA	--		4,458	3,948	1,083	4,458	5,031	9,489	(560	)	1964 / 1968	2014
845, 855, 865 S Milliken Ave & 4317, 4319 Santa Ana St.	Ontario, CA	--		2,260	6,043	226	2,260	6,269	8,529	(923	)	1985	2014
1500-1510 W. 228th St.	Torrance, CA	--		2,428	4,271	2,093	2,428	6,364	8,792	(523	)	1963 / 1968	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
24105 Frampton Ave.	Torrance, CA	--	2,315	1,553	1,875	2,315	3,428	5,743	(75	)	1974 / 2016	2014
1700 Saturn Way	Seal Beach, CA	--	7,935	10,525	—	7,935	10,525	18,460	(1,124	)	2006	2014
2980 & 2990 N San Fernando Road	Burbank, CA	--	6,373	7,356	257	6,373	7,613	13,986	(1,012	)	1950 / 2004	2014
20531 Crescent Bay Dr.	Lake Forest, CA	--	2,181	4,012	242	2,181	4,254	6,435	(479	)	1998	2014
2610 & 2701 S. Birch Street	Santa Ana, CA	--	9,305	2,115	3,894	9,305	6,009	15,314	(216	)	1965 / 2016	2014
710 South Dupont Avenue & 4051 Santa Ana Street	Ontario, CA	--	3,725	6,145	42	3,725	6,187	9,912	(669	)	2001	2014
9755 Distribution Ave.	San Diego, CA	--	1,863	3,211	172	1,863	3,383	5,246	(521	)	1974	2014
9855 Distribution Ave	San Diego, CA	--	2,733	5,041	13	2,733	5,054	7,787	(566	)	1983	2014
9340 Cabot Drive	San Diego, CA	--	4,311	6,126	163	4,311	6,289	10,600	(702	)	1975 / 1976	2014
9404 Cabot Drive	San Diego, CA	--	2,413	3,451	18	2,413	3,469	5,882	(393	)	1975 / 1976	2014
9455 Cabot Drive	San Diego, CA	--	4,423	6,799	238	4,423	7,037	11,460	(828	)	1975 / 1976	2014
14955-14971 E Salt Lake Ave	City of Industry, CA	--	5,125	5,009	744	5,125	5,753	10,878	(632	)	1979	2014
5235 East Hunter Ave.	Anaheim, CA	--	5,240	5,065	85	5,240	5,150	10,390	(943	)	1987	2014
3880 West Valley Blvd.	Pomona, CA	--	3,982	4,796	65	3,982	4,861	8,843	(966	)	1980	2014
1601 Alton Pkwy.	Irvine, CA	--	7,638	4,946	4,944	7,638	9,890	17,528	(516	)	1974	2014
3116 W. Avenue 32	Los Angeles, CA	--	3,761	6,729	1,029	3,761	7,758	11,519	(682	)	1974	2014
21040 Nordoff Street; 9035 Independence Avenue; 21019 - 21045 Osborne Street	Chatsworth, CA	--	7,230	9,058	743	7,230	9,801	17,031	(1,073	)	1979 / 1980	2014
24935 & 24955 Avenue Kearny	Santa Clarita, CA	--	4,773	5,970	469	4,773	6,439	11,212	(853	)	1988	2014
605 8th Street	San Fernando, CA	--	2,393	2,742	1,744	2,393	4,486	6,879	(202	)	1991 / 2015	2014
9120 Mason Ave.	Chatsworth, CA	--	9,224	19,346	—	9,224	19,346	28,570	(1,746	)	1967 / 1999	2014
7900 Nelson Rd.	Los Angeles, CA	--	8,495	15,948	1,918	8,495	17,866	26,361	(1,290	)	1998 / 2015	2014
679-691 S Anderson St.	Los Angeles, CA	--	1,723	4,767	1,056	1,723	5,823	7,546	(253	)	1992	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
10509 Business Drive	Fontana, CA	--		3,505	5,237	136	3,505	5,373	8,878	(500	)	1989	2014
13231 Slover Avenue	Fontana, CA	--		2,812	4,739	159	2,812	4,898	7,710	(449	)	1990	2014
240 W Ivy Avenue	Inglewood, CA	--		2,064	3,675	844	2,064	4,519	6,583	(334	)	1981	2014
3000 Paseo Mercado, 3120-3150 Paseo Mercado	Oxnard, CA	--		2,616	8,311	277	2,616	8,588	11,204	(821	)	1988	2014
2350-2380 Eastman Ave	Oxnard, CA	--		1,805	3,856	59	1,805	3,915	5,720	(473	)	2003	2014
1800 Eastman Ave	Oxnard, CA	--		842	2,209	—	842	2,209	3,051	(294	)	2009	2014
2360-2364 E. Sturgis Road	Oxnard, CA	--		1,128	2,726	308	1,128	3,034	4,162	(297	)	1989	2014
201 Rice Ave. & 2400-2420 Celsius	Oxnard, CA	--		3,487	9,589	90	3,487	9,679	13,166	(928	)	2008	2014
11120, 11160, 11200 Hindry Ave	Los Angeles, CA	--		3,478	7,834	167	3,478	8,001	11,479	(708	)	1992 / 1994	2014
6970-7170 & 7310-7374 Convoy Ct.	San Diego, CA	--		10,805	18,426	697	10,805	19,123	29,928	(1,825	)	1971	2014
12907 Imperial Highway	Santa Fe Springs, CA	5,362	⁽⁵⁾	5,462	6,678	—	5,462	6,678	12,140	(523	)	1997	2015
8902-8940 Activity Rd	San Diego, CA	--		9,427	8,103	290	9,427	8,393	17,820	(768	)	1987 / 1997	2015
1210 N Red Gum St	Anaheim, CA	--		3,326	4,020	111	3,326	4,131	7,457	(378	)	1985	2015
9401 De Soto Ave	Chatsworth, CA	--		6,352	7,764	3,695	6,352	11,459	17,811	(137	)	1983	2015
9615 Norwalk Blvd.	Santa Fe Springs, CA	--		8,508	1,134	205	8,508	1,339	9,847	(135	)	1975	2015
16221 Arthur St.	Cerritos, CA	--		2,979	3,204	143	2,979	3,347	6,326	(234	)	1979	2015
2588 & 2605 Industry Way	Lynwood, CA	--		8,738	9,415	—	8,738	9,415	18,153	(677	)	1969 / 1971	2015
425 S. Hacienda Blvd.	City of Industry, CA	--		4,010	3,050	—	4,010	3,050	7,060	(226	)	1997	2015
6700 S Alameda St.	Huntington Park, CA	--		3,502	9,279	258	3,502	9,537	13,039	(732	)	1990 / 2008	2015
12720-12860 Danielson Ct.	Poway, CA	--		6,902	8,949	124	6,902	9,073	15,975	(896	)	1999	2015
10950 Norwalk Blvd & 12241 Lakeland Rd.	Santa Fe Springs, CA	--		3,446	1,241	84	3,446	1,325	4,771	(116	)	1982	2015
610-760 W Hueneme Rd & 5651-5721 Perkins Rd	Oxnard, CA	--		3,310	5,806	575	3,310	6,381	9,691	(492	)	1985	2015
10701-10719 Norwalk Blvd.	Santa Fe Springs, CA	--		3,357	3,527	31	3,357	3,558	6,915	(225	)	2004	2015
6020 Sheila St.	Commerce, CA	--		4,590	7,772	581	4,590	8,353	12,943	(399	)	2000	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
9805 6th St.	Rancho Cucamonga, CA	--		3,503	3,204	422	3,503	3,626	7,129	(202	)	1986	2015
16321 Arrow Hwy.	Irwindale, CA	--		3,087	4,081	86	3,087	4,167	7,254	(222	)	1955 / 2001	2015
2535 Midway Dr.	San Diego, CA	--		17,175	3,141	1,715	17,175	4,856	22,031	(47	)	1972	2015
601-605 S. Milliken Ave.	Ontario, CA	--		5,479	7,036	413	5,479	7,449	12,928	(464	)	1987 / 1988	2015
1065 E. Walnut Ave.	Carson, CA	9,903	⁽⁶⁾	10,038	4,380	436	10,038	4,816	14,854	(448	)	1974	2015
12247 Lakeland Rd.	Santa Fe Springs, CA	--		3,481	776	755	3,481	1,531	5,012	(25	)	1971 / 2016	2015
17311 Nichols Ln.	Huntington Beach, CA	--		7,988	8,728	—	7,988	8,728	16,716	(379	)	1993 / 2014	2015
8525 Camino Santa Fe	San Diego, CA	--		4,038	4,055	73	4,038	4,128	8,166	(135	)	1986	2016
28454 Livingston Avenue	Valencia, CA	--		5,150	9,666	—	5,150	9,666	14,816	(320	)	2007	2016
20 Icon	Lake Forest, CA	--		12,576	8,817	—	12,576	8,817	21,393	(369	)	1999 / 2015	2016
16425 Gale Avenue	City of Industry, CA	--		18,803	6,029	—	18,803	6,029	24,832	(198	)	1976	2016
2700_2722 Fairview Street	Santa Ana, CA	--		10,144	5,989	—	10,144	5,989	16,133	(196	)	1964 / 1984	2016
12131 Western Avenue	Garden Grove, CA	--		15,077	11,149	293	15,077	11,442	26,519	(365	)	1987 / 2007	2016
9 Holland	Irvine, CA	--		13,724	9,365	45	13,724	9,410	23,134	(292	)	1980 / 2013	2016
2811 Harbor Boulevard	Santa Ana, CA	--		8,663	7,919	—	8,663	7,919	16,582	(237	)	1977 / 2015	2016
15996 Jurupa Avenue	Fontana, CA	--		7,855	12,056	—	7,855	12,056	19,911	(340	)	2015	2016
11127 Catawba Avenue	Fontana, CA	--		5,562	8,094	—	5,562	8,094	13,656	(230	)	2015	2016
13550 Stowe Drive	Poway, CA	--		9,126	8,043	—	9,126	8,043	17,169	(289	)	1991	2016
10750-10826 Lower Azusa Road	El Monte, CA	--		4,433	2,961	141	4,433	3,102	7,535	(113	)	1975	2016
525 Park Avenue	San Fernando, CA	--		3,830	3,887	—	3,830	3,887	7,717	(92	)	2003	2016
3233 Mission Oaks Blvd	Camarillo, CA	--		13,791	10,017	560	13,791	10,577	24,368	(293	)	1980-1982 / 2014	2016
1600 Orangethorpe & 1335-1375 Acacia	Fullerton, CA	--		26,659	12,673	152	26,659	12,825	39,484	(273	)	1968 / 1985	2016
14742-14750 Nelson Avenue	City of Industry, CA	--		13,463	1,680	346	13,463	2,026	15,489	—		1969	2016



				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
3927 Oceanic Drive	Oceanside, CA	--		2,667		4,581		—		2,667		4,581		7,248		(32		)	2004	2016
301-445 Figueroa Street	Wilmington, CA	--		7,126		5,728		35		7,126		5,763		12,889		(52		)	1972	2016
12320 4th Street	Rancho Cucamonga, CA	--		12,642		14,179		—		12,642		14,179		26,821		(57		)	1997 / 2003	2016
9190 Activity Road	San Diego, CA	--		8,497		5,622		—		8,497		5,622		14,119		—			1986	2016
Investments in real estate		$	18,029	$	693,238	$	745,765	$	131,470	$	683,919	$	867,922	$	1,551,841	$	(135,140	)

Note: As of December 31, 2016, the aggregate cost for federal income tax purposes of investments in real estate was approximately $1.5 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 six properties secure a term loan that had a balance of $59.7 million as of December 31, 2016.


(4)	Includes unamortized discount and deferred loan costs of $0.1 million.


(5)	Includes unamortized premium and deferred loan costs of $0.2 million.


(6)	Includes unamortized premium of $0.2 million.

The following table reconciles total investments in real estate per Schedule III to the Consolidated Balance Sheet at December 31, 2016 (in thousands):



Total per Schedule III	$	1,551,841
Other real estate investments ⁽¹⁾	288
Total per consolidated balance sheet	$	1,552,129


(1)	Other real estate investments represent costs related to a future development project associated with a ground lease of land located in Corona, California. See Note 10.

The following table reconciles the historical cost of total real estate held for investment from January 1, 2014 to December 31, 2016 (in thousands):



	Year Ended December 31,
	2016			2015			2014
Balance, Beginning of Year	$	1,188,766		$	930,462		$	555,433
Acquisition of Investment in Real Estate	356,336			235,948			375,422
Construction Costs and Improvements	31,565			22,841			14,485
Disposition of Investment in Real Estate	(24,331		)	—			(14,816		)
Write-off of Fully Depreciated Assets	(207		)	(485		)	(62		)
Balance, End of Year	$	1,552,129		$	1,188,766		$	930,462

The following table reconciles accumulated depreciation from January 1, 2014 to December 31, 2016 (in thousands):



	Year Ended Year Ended December 31,
	2016			2015			2014
Balance, Beginning of Year	$	(103,623	)	$	(76,884	)	$	(60,898	)
Depreciation of Investment in Real Estate	(34,779		)	(27,224		)	(18,042		)
Disposition of Investment in Real Estate	3,055			—			1,994
Write-off of Fully Depreciated Assets	207			485			62
Balance, End of Year	$	(135,140	)	$	(103,623	)	$	(76,884	)

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2016

Accounting Policies [Abstract]

Cash and Cash Equivalents

Notes Receivable

Discontinued Operations

Investment in Real Estate

Acquisitions

Capitalization of Costs

Depreciation and Amortization

Deferred Leasing Costs

Impairment of Long-Lived Assets

Investment in Unconsolidated Real Estate

Investment in Unconsolidated Real Estate Entities

Income Taxes

Derivative Instruments and Hedging Activities

Revenue Recognition

Revenues from management, leasing and development services are recognized when the related services have been provided and earned.

Valuation of Receivables

Rents and other receivables, net and deferred rent receivables, net consisted of the following as of December 31, 2016 and 2015:



	December 31,
	2016			2015
Rents and other receivables	$	5,565		$	4,938
Allowance for doubtful accounts	(2,816		)	(1,898		)
Rents and other receivables, net	$	2,749		$	3,040

Deferred rent receivable	$	11,903		$	7,913
Allowance for doubtful accounts	(30		)	(86		)
Deferred rent receivable, net	$	11,873		$	7,827

Debt Issuance Costs

Equity Based Compensation

Equity Offering Costs

Earnings Per Share

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.

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.

Adoption of New Accounting Pronouncements

Organization (Tables)

12 Months Ended

Dec. 31, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

Rents and other receivables, net and deferred rent receivables, net consisted of the following as of December 31, 2016 and 2015:



	December 31,
	2016			2015
Rents and other receivables	$	5,565		$	4,938
Allowance for doubtful accounts	(2,816		)	(1,898		)
Rents and other receivables, net	$	2,749		$	3,040

Deferred rent receivable	$	11,903		$	7,913
Allowance for doubtful accounts	(30		)	(86		)
Deferred rent receivable, net	$	11,873		$	7,827

Investments in Real Estate (Tables)

12 Months Ended

Dec. 31, 2016

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, 2016:



Property	Submarket	Date of Acquisition	Rentable Square Feet	Number of Buildings	Contractual Purchase Price (in thousands)
8525 Camino Santa Fe⁽¹⁾	San Diego - Central	3/15/2016	59,399	1	$	8,450
28454 Livingston Avenue⁽¹⁾	Los Angeles - San Fernando Valley	3/29/2016	134,287	1	16,000
REIT Portfolio⁽²⁾	Various⁽²⁾	4/15/2016	1,530,814	9	191,000
10750-10826 Lower Azusa Road⁽³⁾	Los Angeles - San Gabriel Valley	5/3/2016	79,050	4	7,660
525 Park Avenue⁽⁴⁾	Los Angeles - San Fernando Valley	6/30/2016	63,403	1	7,550
3233 Mission Oaks Boulevard⁽⁵⁾	Ventura	7/6/2016	457,693	1	25,700
1600 E. Orangethorpe Avenue⁽⁴⁾	Orange County - North	8/24/2016	345,756	6	40,137
14742-14750 Nelson Avenue⁽⁴⁾	Los Angeles - San Gabriel Valley	9/8/2016	145,531	2	15,000
3927 Oceanic Drive⁽⁴⁾	San Diego - North County	10/21/2016	54,740	1	7,200
301-445 Figueroa Street⁽⁴⁾	Los Angeles - South Bay	11/4/2016	133,925	1	13,000
12320 4th Street⁽⁶⁾	Inland Empire - West	12/7/2016	284,676	2	24,435
9190 Activity Road⁽⁴⁾	San Diego - Central	12/16/2016	83,520	1	15,550
			3,372,794	30	$	371,682


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

(2)


(3)	This acquisition was partially funded through a tax-deferred like-kind exchange under Section 1031 of the Internal Revenue Code (“1031 Exchange”) using $2.5 million of net cash proceeds from the sale of our property located at 6010 North Paramount Boulevard and available cash on hand.


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


(5)	We acquired this property from our unconsolidated joint venture (see Note 11). Prior to the acquisition, our ownership interest in the property was 15.0%. This acquisition was partially funded through a 1031 Exchange using $18.0 million of net cash proceeds from the sale of our properties located at 1840 Dana Street and 12910 East Mulberry Drive and available cash on hand.


(6)	This acquisition was partially funded through a 1031 Exchange using $18.1 million of net cash proceeds from the sale of our properties located at 22343-22349 La Palma Avenue and 157th Street and available cash on hand.

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	Contractual 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.

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):



	2016						2015
	REIT Portfolio Acquisition		Other Acquisitions		Total Acquisitions		Total Acquisitions
Assets:
Land⁽¹⁾	$	101,530	$	102,296	$	203,826	$	124,660
Buildings and improvements⁽²⁾	74,586		72,588		147,174		106,496
Tenant improvements	2,875		2,461		5,336		4,792
Acquired lease intangible assets⁽³⁾	12,103		9,180		21,283		16,236
Other acquired assets⁽⁴⁾	222		305		527		128
Total assets acquired	191,316		186,830		378,146		252,312
Liabilities:
Acquired lease intangible liabilities⁽⁵⁾	934		6,583		7,517		1,713
Notes payable	—		—		—		17,097
Deferred rent liability	—		—		—		977
Other assumed liabilities⁽⁴⁾	1,519		1,364		2,883		1,926
Total liabilities assumed	2,453		7,947		10,400		21,713
Net assets acquired	188,863		178,883		367,746		230,599

(1)


(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.

(3)


(4)	Includes other working capital assets acquired (prepaid expenses, other receivables and other assets) and liabilities assumed (tenant security deposits and other payables), respectively, at the time of acquisition.


(5)	Represents below-market lease intangibles with a weighted average amortization period of 4.8 years, 10.3 years and 5.9 years for the REIT Portfolio, other 2016 acquisitions and total 2015 acquisitions, respectively.

Proforma Financial Information



	Year Ended December 31, 2016
Revenues	$	15,496
Net Income	$	4,503



	Year Ended December 31,
	2016		2015
Revenues	$	137,744	$	116,585
Net income	$	26,427	$	(76	)
Net income attributable to common stockholders per share - basic	$	0.42	$	—
Net income attributable to common stockholders per share - diluted	$	0.42	$	—

Acquired Lease Intangibles (Tables)

12 Months Ended

Dec. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Acquired Lease Intangible Assets and Liabilities



	December 31,
	2016		2015
Acquired Lease Intangible Assets:
In-place lease intangibles	68,234		49,265
Accumulated amortization	(37,648	)	(25,107	)
In-place lease intangibles, net	30,586		24,158

Above-market tenant leases	10,191		9,062
Accumulated amortization	(4,412	)	(2,837	)
Above-market tenant leases, net	5,779		6,225
Acquired lease intangible assets, net	36,365		30,383

Acquired Lease Intangible Liabilities:
Below-market tenant leases	(12,426	)	(5,227	)
Accumulated accretion	3,477		2,053
Below-market tenant leases, net	(8,949	)	(3,174	)

Below-market ground lease	(290	)	(290	)
Accumulated accretion	109		77
Below-market ground lease, net	(181	)	(213	)
Acquired lease intangible liabilities, net	(9,130	)	(3,387	)

Summary of Amortization or Accretion Recorded During the Period Related to Acquired Lease Intangibles

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



	Year Ended December 31,
	2016			2015			2014
In-place lease intangibles⁽¹⁾	$	13,560		$	12,445		$	9,275
Net above (below) market tenant leases⁽²⁾	$	(46	)	$	234		$	452
Above-market ground lease⁽³⁾	$	(32	)	$	(32	)	$	(32	)


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


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


(3)	The accretion of the above-market ground lease is recorded as a decrease to property expenses in the consolidated statements of operations for the periods presented.

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

The following table summarizes the estimated amortization/(accretion) of our acquisition-related intangibles as of December 31, 2016, 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⁾
2017	$	10,087	$	(403	)	$	(32	)
2018	6,979		(481		)	(32		)
2019	5,413		(417		)	(32		)
2020	3,602		(475		)	(32		)
2021	1,947		(511		)	(32		)
Thereafter	2,558		(883		)	(21		)
Total	$	30,586	$	(3,170	)	$	(181	)


(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 increase 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 Payable (Tables)

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Summary of Notes Payable

The following table summarizes the balance of our indebtedness as of December 31, 2016 and 2015 (in thousands):



	December 31, 2016			December 31, 2015
Principal amount	$	502,476		$	418,698
Less: unamortized discount and deferred loan costs⁽¹⁾	(2,292		)	(544		)
Carrying value	$	500,184		$	418,154

The following table summarizes the components and significant terms of our indebtedness as of December 31, 2016 and 2015 (dollars in thousands):



	December 31, 2016					December 31, 2015
	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
$60m Term Loan⁽³⁾	$	59,674	$	(204	)	$	60,000	$	(283	)	8/1/2019	⁽⁴⁾	LIBOR+1.90%			3.95	%
Gilbert/La Palma	2,909		(145		)	3,044		(153		)	3/1/2031		5.125	%	⁽⁵⁾	5.39	%
12907 Imperial Highway	5,182		180			5,299		303			4/1/2018		5.950	%	⁽⁶⁾	3.50	%
1065 Walnut Street	9,711		192			9,855		292			2/1/2019	⁽⁷⁾	4.550	%	⁽⁸⁾	3.54	%
Unsecured Debt
$100M Term Loan Facility	100,000		—			100,000		—			6/11/2019		LIBOR+1.50%		⁽⁹⁾	3.40	%	⁽¹⁰⁾
Revolving Credit Facility	—		—			140,500		—			6/11/2018	⁽⁴⁾	LIBOR+1.55%		^(9)(11)	2.32	%
$225M Term Loan Facility	225,000		(1,680		)	—		—			1/14/2023		LIBOR+1.75%		⁽⁹⁾	2.65	%
Guaranteed Senior Notes⁽¹²⁾	100,000		(635		)	100,000		(703		)	8/6/2025		4.290	%		4.36	%
Total	$	502,476	$	(2,292	)	$	418,698	$	(544	)


(1)	Reflects the contractual interest rate under the terms of the loan as of December 31, 2016.


(2)	Reflects the effective interest rate at December 31, 2016, which includes the effect of the amortization of discounts/premiums and deferred loan costs and the effect of interest rate swaps that are effective as of December 31, 2016.


(3)	This term loan is secured by six properties. Beginning August 15, 2016, monthly payments of interest and principal are based on a 30 years amortization table. As of December 31, 2016, the interest rate on this variable-rate term loan has been effectively fixed through the use of two interest rate swaps, one of which is an amortizing swap. See Note 7 for details.


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


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


(6)	Monthly payments of interest and principal based on a 30-year amortization table, with a balloon payment at maturity. We may prepay the loan in full during the 90 day period prior to the maturity date with without incurring prepayment penalties.


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


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


(9)	The LIBOR margin will range from 1.25% to 1.85% for the $100.0 million term loan facility, 1.30% to 1.90% for the unsecured revolving credit facility and 1.50% to 2.25% for the $225.0 million term loan 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.


(10)	As of December 31, 2016, interest on the $100 million term loan has been effectively fixed through the use of two interest rate swaps. See Note 7 for details.


(11)	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.


(12)	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 credit agreement).

Summary of Aggregate Future Minimum Payments of Debt

Contractual Debt Maturities



2017	$	1,213
2018	6,163
2019	167,641
2020	166
2021	175
Thereafter	327,118
Total	$	502,476

Operating Leases (Tables)

12 Months Ended

Dec. 31, 2016

Leases, Operating [Abstract]

Future Minimum Base Rent Under Non-cancelable Operating Leases

Future minimum base rent under operating leases as of December 31, 2016 is summarized as follows (in thousands):



For the year ending December 31:
2017	$	104,077
2018	86,366
2019	71,480
2020	54,295
2021	39,546
Thereafter	85,536
Total	$	441,300

Interest Rate Swaps (Tables)

12 Months Ended

Dec. 31, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Interest Rate Swap Agreement



					Fair Value				Current Notional Amount⁽¹⁾
Derivative Instrument	Effective Date	Maturity Date	Interest Strike Rate		December 31, 2016		December 31, 2015		December 31, 2016		December 31, 2015
Assets⁽²⁾:
Interest Rate Swap	2/14/2018	1/14/2022	1.349	%	$	3,245	$	—	$	—	$	—
Interest Rate Swap	8/14/2018	1/14/2022	1.406	%	$	2,349	$	—	$	—	$	—
Liabilities⁽³⁾:
Interest Rate Swap	1/15/2015	2/15/2019	1.826	%	$	338	$	538	$	30,000	$	30,000
Interest Rate Swap	7/15/2015	2/15/2019	2.010	%	$	440	$	698	$	29,674	$	30,000
Interest Rate Swap	8/14/2015	12/14/2018	1.790	%	$	529	$	849	$	50,000	$	50,000
Interest Rate Swap	2/16/2016	12/14/2018	2.005	%	$	738	$	1,059	$	50,000	$	—


(1)	Represents the notional value of swaps that are effective as of the balance sheet date presented.


(2)	The fair value of these interest rate swaps are included in the line item “Interest rate swap asset” in the accompanying consolidated balance sheets.


(3)	The fair value of these interest rate swaps are included in the line item “Interest rate swap liability” in the accompanying consolidated balance sheets.

Summary of Impact of Derivative Instruments on Consolidated and Combined Financial Statements

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



	Year Ended December 31,
	2016			2015			2014
Interest Rate Swaps in Cash Flow Hedging Relationships:
Amount of gain (loss) recognized in AOCI on derivatives (effective portion)	$	4,475		$	(2,781	)	$	(1,402	)
Amount of gain (loss) reclassified from AOCI into earnings under “Interest expense” (effective portion)	$	(2,218	)	$	(1,039	)	$	—
Amount of gain (loss) recognized in earnings under “Interest expense” (ineffective portion and amount excluded from effectiveness testing)	$	—		$	—		$	—

- 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
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-Section 50
-Paragraph 5
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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, 2016

Fair Value Disclosures [Abstract]

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



	Fair Value Measurement Using
	Total Fair Value			Quoted Price in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
December 31, 2016
Interest Rate Swap Asset	$	5,594		$	—	$	5,594		$	—
Interest Rate Swap Liability	$	(2,045	)	$	—	$	(2,045	)	$	—
December 31, 2015
Interest Rate Swap Asset	$	—		$	—	$	—		$	—
Interest Rate Swap Liability	$	(3,144	)	$	—	$	(3,144	)	$	—

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, 2016 and 2015 (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, 2016	$	507,733	$	—	$	—	$	507,733	$	500,184
December 31, 2015	$	416,497	$	—	$	—	$	416,497	$	418,154

Commitments and contingencies (Tables)

12 Months Ended

Dec. 31, 2016

Commitments and Contingencies Disclosure [Abstract]

Future Minimum Commitment Under Ground Lease and Corporate Office Lease

The future minimum commitment under our corporate and satellite office leases and ground lease as of December 31, 2016, is as follows (in thousands):



For the year ending December 31:	Office Lease		Ground Lease
2017	$	635	$	144
2018	622		144
2019	337		144
2020	—		144
2021	—		144
Thereafter	—		5,820
Total	$	1,594	$	6,540

- 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, 2016

Schedule of Investments [Abstract]

Summarized Information of Our Equity Method Investment Properties



	December 31,
	2016			2015
Assets	$	72		$	24,280
Liabilities	(31		)	(1,250		)
Partners’/members’ equity	$	41		$	23,030
Carrying value of the Company’s investment in unconsolidated real estate entities⁽¹⁾	$	—		$	4,087

(1)



	Year Ended December 31,
	2016			2015			2014
Revenues	$	1,281		$	2,673		$	7,018
Expenses	(442		)	(1,911		)	(6,526		)
Gain on sale of properties	3,458			—			13,389
Net income	$	4,297		$	762		$	13,881

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

12 Months Ended

Dec. 31, 2016

Discontinued Operations and Disposal Groups [Abstract]

Summary of the Properties Sold



Address	Submarket	Date of Disposition	Rentable Square Feet	Contractual Sales Price		Gain (Loss) Recorded
2016 Dispositions:
6010 N. Paramount Boulevard⁽¹⁾	Los Angeles - South Bay	5/2/2016	16,534	$	2,480	$	944
1840 Dana Street⁽¹⁾	Los Angeles - San Fernando Valley	5/25/2016	13,497	$	4,250	$	1,445
12910 East Mulberry Drive⁽¹⁾	Los Angeles - Mid-Counties	6/7/2016	153,080	$	15,000	$	9,174
22343-22349 La Palma Avenue⁽¹⁾	Orange County - North	11/22/2016	115,760	$	17,000	$	4,752
331 East 157th Street⁽¹⁾	Los Angeles - South Bay	11/28/2016	12,000	$	1,975	$	1,062

2014 Dispositions:
1335 Park Center Drive⁽²⁾	San Diego - North County	1/29/2014	124,997	$	10,103	$	2,262
2900 N. Madera Road⁽²⁾	Ventura	3/13/2014	63,305	$	4,350	$	(137	)
500-560 Zenith Drive⁽¹⁾	Other - Glenview, Illinois	8/29/2014	37,992	$	1,822	$	(150	)


(1)	The results of operations and the gain (loss) on sale of this property are reported as part of net income from continuing operations in the consolidated statements of operations.


(2)	The results of operations and the gain (loss) on sale of this property are reported as part of discontinued operations in the consolidated statements of operations.

Results of Operations



	Year Ended December 31, 2014
Revenues	$	85
Operating expenses	(57		)
Depreciation and amortization expense	(7		)
Gain on sale of real estate	2,125
Income from discontinued operations	$	2,146

- 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=65878427&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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+ Details

Stockholder's Equity (Tables)

12 Months Ended

Dec. 31, 2016

Equity [Abstract]

Summary of the Components of Changes in Accumulated Other Comprehensive Loss

The following table summarizes the changes in our AOCI balance for the years ended December 31, 2016 and 2015, which consists solely of adjustments related to our cash flow hedges:



	2016			2015
Accumulated other comprehensive loss - beginning balance	$	(3,033	)	$	(1,331	)
Other comprehensive income (loss) before reclassifications	4,475			(2,781		)
Amounts reclassified from accumulated other comprehensive loss to interest expense	2,218			1,039
Net current period other comprehensive income (loss)	6,693			(1,742		)
Less other comprehensive (income) loss attributable to noncontrolling interests	(215		)	40
Other comprehensive income (loss) attributable to common stockholders	6,478			(1,702		)
Accumulated other comprehensive income (loss) - ending balance	$	3,445		$	(3,033	)

Schedule Of Federal Income Tax Treatment For Distributions



	Common Stock												Preferred Stock
	Year Ended December 31,
	2016				2015				2014				2016
Ordinary Income	$	0.452085	99.66	%	$	0.478948	93.91	%	$	0.460750	92.15	%	$	0.548884	99.66	%
Return of Capital	—		—	%	—		—	%	—		—	%	—		—	%
Capital Gain⁽¹⁾	0.001562		0.34	%	0.031052		6.09	%	0.039250		7.85	%	0.001896		0.34	%
Total	$	0.453647	100.00	%	$	0.510000	100.00	%	$	0.500000	100.00	%	$	0.550780	100.00	%


(1)	100.0%, 0.0% and 19.0% of the capital gains reported for the years ended December 31, 2016, 2015 and 2014, respectively, are comprised of an unrecaptured Section 1250 gain.

Incentive Award Plan (Tables)

12 Months Ended

Dec. 31, 2016

Equity [Abstract]

Schedule Of Share Based Payment Award, Equity Instruments Other Than Options, Fair Value Assumptions And Grant Date Fair Value

The following table summarizes these fair valuation assumptions and the grant date fair value of the awards:



	2016 LTIP Award			2015 LTIP Award
Valuation date	December 29, 2016			December 15, 2015
Closing share price of common stock	$	22.71		$	15.90
Discount for post-vesting restrictions and book-up events	5.0		%	5.0		%
Grant date fair value (in thousands)	$	2,518		$	2,518

Total Shareholder Return Levels And Vesting Percentages



	2016 Performance Award
	Absolute TSR Base Units				Relative TSR Base Units
Level	Company TSR Percentage		Absolute TSR Vesting Percentage		Peer Group Relative Performance	Relative TSR Vesting Percentage
	< 21%		—	%	< 50th Percentile	—	%
“Threshold Level”	21	%	25	%	50th Percentile	25	%
“Target Level”	35.5	%	60	%	62.5th Percentile	60	%
“Maximum Level”	≥ 50%		100	%	≥ 75th Percentile	100	%



	2015 Performance Award
	Absolute TSR Base Units				Relative TSR Base Units
Level	Company TSR Percentage		Absolute TSR Vesting Percentage		Peer Group Relative Performance	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	%

Schedule of valuation assumptions

The following table summarizes the assumptions we used in the Monte Carlo simulations and the grant date fair value of the Performance Awards.



	2016 Performance Award			2015 Performance Award
Valuation date	December 29, 2016			December 15, 2015
Expected share price volatility of the Company	20.0		%	24.0		%
Expected share price volatility of peer group companies - low end of range	21.0		%	21.0		%
Expected share price volatility of peer group companies - high end of range	50.0		%	62.0		%
Expected dividend yield	2.80		%	3.40		%
Risk-free interest rate	1.49		%	1.28		%
Grant date fair value (in thousands)	$	1,753		$	2,157

Schedule of Unvested Restricted Stock Activity

The following table sets forth our unvested restricted stock activity for the years ended December 31, 2016, 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		$	14.30
Granted	103,704		$	18.03
Forfeited	(23,968	)	$	15.37
Vested⁽¹⁾⁽²⁾	(125,350	)	$	14.63
Balance at December 31, 2016	287,827		$	15.92


(1)	The total fair value of vested shares, which is calculated as the number of shares vested multiplied by the closing share price of the Company’s common stock on the vesting date, was $2.6 million, $1.6 million and $0.5 million for the years ended December 31, 2016, 2015 and 2014, respectively.


(2)	Total shares vested include 36,374, 12,670 and 6,928 shares of common stock that were tendered by employees during the years ended December 31, 2016, 2015 and 2014, respectively, to satisfy minimum statutory tax withholding requirements associated with the vesting of restricted shares.

Vesting Schedule of the Unvested Shares of Restricted Stock Outstanding

The following table sets forth the vesting schedule of total unvested shares of restricted common stock outstanding as of December 31, 2016:



Twelve months ending December 31:	Shares
2017	167,026
2018	60,466
2019	39,158
2020	21,177
	287,827

Shareholders' Equity and Share-based Payments

The following table sets forth the amounts expensed and capitalized for all share-based awards for the reported periods presented below (in thousands):



	Year Ended December 31,
	2016	2015	2014
Expensed share-based compensation⁽¹⁾	3,835	1,752	1,018
Capitalized share-based compensation⁽²⁾	147	101	107
Total share-based compensation	3,982	1,853	1,125


(1)	Amounts expensed are included in “General and administrative” and “Property expenses” in the accompanying consolidated statements of operations.


(2)	Amounts capitalized, which relate to employees who provide construction and leasing services, are included in “Building and improvements” and “Deferred leasing costs, net” in the accompanying consolidated balance sheets.

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2016

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,
	2016			2015			2014
Numerator:
Net income (loss) from continuing operations	$	25,876		$	1,950		$	(1,170	)
Net income (loss) from continuing operations attributable to noncontrolling interests	(750		)	(76		)	97
Preferred stock dividends	(1,983		)	—			—
Income from continuing operations attributable to participating securities	(302		)	(223		)	(102		)
Income (loss) from continuing operations attributable to common stockholders	22,841			1,651			(1,175		)
Income from discontinued operations	—			—			2,146
Income from discontinued operations attributable to noncontrolling interests	—			—			(177		)
Income from discontinued operations attributable to common stockholders	—			—			1,969
Net income attributable to common stockholders	$	22,841		$	1,651		$	794

Denominator:
Weighted average shares of common stock outstanding - basic	62,723,021			54,024,923			31,953,506
Effect of dilutive securities - performance units	242,533			—			—
Weighted average shares of common stock outstanding - diluted	62,965,554			54,024,923			31,953,506

Earnings per share - Basic and Diluted:
Net income (loss) from continuing operations attributable to common stockholders	$	0.36		$	0.03		$	(0.04	)
Net income from discontinued operations attributable to common stockholders	$	—		$	—		$	0.06
Net income attributable to common stockholders	$	0.36		$	0.03		$	0.02

Quarterly Information (unaudited) (Tables)

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Information

The following tables set forth selected quarterly information for the years ended December 31, 2016 and 2015 (in thousands except per share amounts):



	Three Months Ended
	December 31, 2016		September 30, 2016		June 30, 2016		March 31, 2016
Total revenues	$	34,777	$	33,303	$	30,608	$	27,504
Net operating income⁽¹⁾	$	25,310	$	23,966	$	22,538	$	19,827
Net income	$	8,546	$	3,061	$	12,792	$	1,477
Net income attributable to common stockholders	$	6,928	$	2,267	$	12,299	$	1,347
Net income attributable to common stockholders per share - basic	$	0.11	$	0.03	$	0.19	$	0.02
Net income attributable to common stockholders per share - diluted	$	0.10	$	0.03	$	0.19	$	0.02



	Three Months Ended
	December 31, 2015		September 30, 2015		June 30, 2015		March 31, 2015
Total revenues	$	26,164	$	23,674	$	22,722	$	21,340
Net operating income⁽¹⁾	$	18,941	$	17,098	$	16,407	$	15,160
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	$	—	$	—


(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, 2016 ft² property
Real Estate Properties [Line Items]
Number of real estate properties \| property	136
Area of real estate property (square feet) \| ft²	15.0
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%

Summary of Significant Accounting Policies - Additional Information (Detail)		12 Months Ended
	Jul. 01, 2016 USD ($) a extension	Dec. 31, 2016 USD ($) ft²	Dec. 31, 2015 USD ($) a	Dec. 31, 2014 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Provision For Doubtful Accounts, Including Straight Line Rent		$ 1,200,000	$ 1,500,000	$ 700,000
Rentable Square Feet		3,372,794	2,129,753
Asset acquisition capitalized acquisition costs		$ 200,000	$ 700,000	300,000
Interest costs capitalized		1,700,000	800,000	42,000
Real estate taxes and insurance costs capitalized		$ 800,000	800,000	100,000
REIT annual taxable income distribution requirement percentage		90.00%
Rents and other receivables		$ 5,565,000	4,938,000
Allowance for doubtful accounts		(2,816,000)	(1,898,000)
Rents and other receivables, net		2,749,000	3,040,000
Deferred rent receivable		11,903,000	7,913,000
Allowance for doubtful accounts		(30,000)	(86,000)
Deferred rent receivable, net		$ 11,873,000	7,827,000
Minimum
Summary Of Significant Accounting Policies [Line Items]
Fair value inputs, discount rate		6.00%
Fair Value Inputs, Cap Rate		5.25%
Fair Value Estimate, Property Average Lease Up Period		6 months
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		8.50%
Fair Value Inputs, Cap Rate		7.50%
Fair Value Estimate, Property Average Lease Up Period		12 months
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		$ 1,000,000	900,000	600,000
Leasing Employees
Summary Of Significant Accounting Policies [Line Items]
Compensation costs capitalized		600,000	$ 500,000	$ 500,000
Rancho Cucamonga, CA
Summary Of Significant Accounting Policies [Line Items]
Mortgage Loans on Real Estate, Face Amount of Mortgages	$ 6,000,000	6,000,000
Rentable Square Feet \| a	64,965
Proceeds from Fees Received	$ 300,000
Fixed interest rate on notes receivable	10.00%
Financing Receivable, Number Of Extensions \| extension	1
Financing Receivable, Extension Term	6 months
Loans and Leases Receivable, Deferred Income	$ 14,000
Mortgage Loans on Real Estate, Carrying Amount of Mortgages		5,900,000
Accrued Investment Income Receivable		84,000
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums		$ 200,000

Investments in Real Estate - Acquisitions - Additional Information (Detail) $ in Thousands						3 Months Ended	12 Months Ended
	Jul. 06, 2016 USD ($)	May 03, 2016 USD ($)	Apr. 15, 2016 USD ($) shares	Feb. 03, 2015 shares	Aug. 19, 2014 shares	Dec. 31, 2016 USD ($) ft² property shares	Dec. 31, 2016 USD ($) ft² property building shares	Dec. 31, 2015 USD ($) a property building shares	Dec. 31, 2014 USD ($)	Apr. 11, 2016 ft² property	Feb. 25, 2014 USD ($)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Shares outstanding \| shares						3,600,000	3,600,000	0
Preferred stock, interest							5.875%	5.875%
Rentable Square Feet						3,372,794	3,372,794	2,129,753
Number of Buildings \| building							30	39
Contractual Purchase Price (in thousands)							$ 371,682	$ 247,579
Issuance of common stock, shares \| shares				11,500,000	17,250,000
Payments to Acquire Real Estate							367,621	230,599	$ 383,662
Proceeds from sale of real estate							$ 38,505	0	$ 15,410
Number of real estate properties \| property						136	136
Deposits paid											$ 1,400
Debt assumed						$ 0	$ 0	17,097
Deferred rent liability						$ 0	$ 0	$ 977
8525 Camino Santa Fe [Member]
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket							San Diego - Central
Date of Acquisition							Mar. 15, 2016
Rentable Square Feet \| ft²						59,399	59,399
Number of Buildings \| building							1
Contractual Purchase Price (in thousands)							$ 8,450
28454 Livingston Avenue [Member]
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket							Los Angeles - San Fernando Valley
Date of Acquisition							Mar. 29, 2016
Rentable Square Feet \| ft²						134,287	134,287
Number of Buildings \| building							1
Contractual Purchase Price (in thousands)							$ 16,000
REIT Portfolio Acquisition [Member]
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket							Various(2)
Date of Acquisition							Apr. 15, 2016
Rentable Square Feet \| ft²						1,530,814	1,530,814			1,530,814
Number of Buildings \| building							9
Contractual Purchase Price (in thousands)							$ 191,000
Number of real estate properties \| property										9
Number of properties acquired \| property								9
10750-10826 Lower Azusa Road
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket							Los Angeles - San Gabriel Valley
Date of Acquisition							May 03, 2016
Rentable Square Feet \| ft²						79,050	79,050
Number of Buildings \| building							4
Contractual Purchase Price (in thousands)							$ 7,660
Payments to Acquire Real Estate		$ 2,500
525 Park Avenue [Member]
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket							Los Angeles - San Fernando Valley
Date of Acquisition							Jun. 30, 2016
Rentable Square Feet \| ft²						63,403	63,403
Number of Buildings \| building							1
Contractual Purchase Price (in thousands)							$ 7,550
3255 Mission Oaks Blvd
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket							Ventura
Date of Acquisition							Jul. 06, 2016
Rentable Square Feet \| ft²						457,693	457,693
Number of Buildings \| building							1
Contractual Purchase Price (in thousands)							$ 25,700
Payments to Acquire Real Estate	$ 25,700
Percentage of voting interests acquired	85.00%					100.00%	100.00%
1600 E. Orangethorpe Avenue [Member]
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket							Orange County - North
Date of Acquisition							Aug. 24, 2016
Rentable Square Feet \| ft²						345,756	345,756
Number of Buildings \| building							6
Contractual Purchase Price (in thousands)							$ 40,137
14742-14750 Nelson Avenue [Member]
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket							Los Angeles - San Gabriel Valley
Date of Acquisition							Sep. 08, 2016
Rentable Square Feet \| ft²						145,531	145,531
Number of Buildings \| building							2
Contractual Purchase Price (in thousands)							$ 15,000
3927 Oceanic Drive [Member]
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket							San Diego - North County
Date of Acquisition							Oct. 21, 2016
Rentable Square Feet \| ft²						54,740	54,740
Number of Buildings \| building							1
Contractual Purchase Price (in thousands)							$ 7,200
301-445 North Figueroa in Wilmington, California [Member]
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket							Los Angeles - South Bay
Date of Acquisition							Nov. 04, 2016
Rentable Square Feet \| ft²						133,925	133,925
Number of Buildings \| building							1
Contractual Purchase Price (in thousands)							$ 13,000
12320 4th Street [Member]
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket							Inland Empire - West
Date of Acquisition							Dec. 07, 2016
Rentable Square Feet \| ft²						284,676	284,676
Number of Buildings \| building							2
Contractual Purchase Price (in thousands)							$ 24,435
9190 Activity Road [Member]
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Submarket							San Diego - Central
Date of Acquisition							Dec. 16, 2016
Rentable Square Feet \| ft²						83,520	83,520
Number of Buildings \| building							1
Contractual Purchase Price (in thousands)							$ 15,550
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
Contractual 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
Contractual 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
Contractual 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
Contractual 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
Contractual 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
Contractual 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
Contractual 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
Contractual 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
Contractual 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
Contractual 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
Contractual 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
Contractual 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
Contractual 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
Contractual 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
Contractual 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
Contractual 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
Contractual 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
Contractual 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
Contractual Purchase Price (in thousands)								$ 16,700
Debt assumed								10,900
Fair value premium of assumed debt								$ 300
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
Contractual 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
Contractual Purchase Price (in thousands)								$ 17,100
Common Stock \| REIT Portfolio Acquisition [Member]
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Percentage of voting interests acquired			100.00%
12.5% Preferred Stock \| REIT Portfolio Acquisition [Member]
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Shares outstanding \| shares			575
Preferred Stock, Shares Issued \| shares			700
Preferred stock, interest			12.50%
Preferred Stock, Redemption Amount			$ 125
Unaffiliated Third Parties \| 12.5% Preferred Stock \| REIT Portfolio Acquisition [Member]
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Shares outstanding \| shares			125
22343-22349 La Palma Avenue And 157th Street
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Proceeds from sale of real estate	$ 18,000					$ 18,100
Follow On Public Offer (Equity Offering)
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Issuance of common stock, shares \| shares			10,350,000
Follow On Public Offer (Equity Offering) \| REIT Portfolio Acquisition [Member]
Disclosure Investment In Real Estate Acquisitions Additional Information Detail [Line Items]
Issuance of common stock, shares \| shares			10,350,000

Investments in Real Estate - Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Detail 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Asset acquisition capitalized acquisition costs	$ 200	$ 700	$ 300
Assets:
Land	203,826	124,660
Buildings and Improvements	147,174	106,496
Tenant improvements	5,336	4,792
Acquired lease intangible assets	21,283	16,236
Other acquired assets	527	128
Total assets acquired	378,146	252,312
Liabilities:
Acquired lease intangible liabilities	7,517	1,713
Notes payable	0	17,097
Deferred rent liability	0	977
Other assumed liabilities	2,883	1,926
Net assets acquired	10,400	21,713
Total	367,746	$ 230,599
REIT Portfolio Acquisition [Member]
Assets:
Land	101,530
Buildings and Improvements	74,586
Tenant improvements	2,875
Acquired lease intangible assets	12,103
Other acquired assets	222
Total assets acquired	191,316
Liabilities:
Acquired lease intangible liabilities	934
Other assumed liabilities	1,519
Net assets acquired	2,453
Total	$ 188,863
Below Market Lease, Weighted Average Useful Life	4 years 9 months 18 days
Other 2016 Acquisitions
Assets:
Land	$ 102,296
Buildings and Improvements	72,588
Tenant improvements	2,461
Acquired lease intangible assets	9,180
Other acquired assets	305
Total assets acquired	186,830
Liabilities:
Acquired lease intangible liabilities	6,583
Other assumed liabilities	1,364
Net assets acquired	7,947
Total	$ 178,883
Below Market Lease, Weighted Average Useful Life	10 years 3 months 18 days
Other 2015 Acquisitions
Liabilities:
Below Market Lease, Weighted Average Useful Life		5 years 10 months 24 days
In-place Lease Intangibles
Assets:
Acquired lease intangible assets		$ 12,100
In-place Lease Intangibles \| REIT Portfolio Acquisition [Member]
Business Acquisition [Line Items]
Amortization period of acquired intangible assets	5 years
Assets:
Acquired lease intangible assets	$ 11,100
In-place Lease Intangibles \| Other 2016 Acquisitions
Business Acquisition [Line Items]
Amortization period of acquired intangible assets	5 years 6 months
Assets:
Acquired lease intangible assets	$ 8,900
In-place Lease Intangibles \| Other 2015 Acquisitions
Business Acquisition [Line Items]
Amortization period of acquired intangible assets		5 years 6 months
Above Market Tenant Leases
Assets:
Acquired lease intangible assets		$ 4,100
Above Market Tenant Leases \| REIT Portfolio Acquisition [Member]
Business Acquisition [Line Items]
Amortization period of acquired intangible assets	7 years 7 months 6 days
Assets:
Acquired lease intangible assets	$ 1,000
Above Market Tenant Leases \| Other 2016 Acquisitions
Business Acquisition [Line Items]
Amortization period of acquired intangible assets	2 years 4 months 24 days
Assets:
Acquired lease intangible assets	$ 300
Above Market Tenant Leases \| Other 2015 Acquisitions
Business Acquisition [Line Items]
Amortization period of acquired intangible assets		11 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
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, 2016 USD ($)
Investments, All Other Investments [Abstract]
Revenues	$ 15,496
Net Income	$ 4,503

Investments in Real Estate - Proforma Financial Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Investments, All Other Investments [Abstract]
Revenues	$ 137,744	$ 116,585
Net income	$ 26,427	$ (76)
Net income attributable to common stockholders per share - basic (in dollars per share)	$ 0.42	$ 0.00
Net income attributable to common stockholders per share - diluted (in dollars per share)	$ 0.42	$ 0.00

Acquired Lease Intangibles - Summary of Acquired Lease Intangible Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Acquired Finite Lived Intangible Assets [Line Items]
Acquired lease intangible assets, net	$ 36,365	$ 30,383
Acquired lease intangible liabilities, net	(9,130)	(3,387)
In-place Lease Intangibles
Acquired Finite Lived Intangible Assets [Line Items]
Acquired lease intangible assets, gross	68,234	49,265
Accumulated amortization	(37,648)	(25,107)
Acquired lease intangible assets, net	30,586	24,158
Above Market Tenant Leases
Acquired Finite Lived Intangible Assets [Line Items]
Acquired lease intangible assets, gross	10,191	9,062
Accumulated amortization	(4,412)	(2,837)
Acquired lease intangible assets, net	5,779	6,225
Below Market Tenant Leases
Acquired Finite Lived Intangible Assets [Line Items]
Acquired lease intangible liabilities, gross	(12,426)	(5,227)
Accumulated accretion	3,477	2,053
Acquired lease intangible liabilities, net	(8,949)	(3,174)
Above Market Ground Lease
Acquired Finite Lived Intangible Assets [Line Items]
Acquired lease intangible assets, net	181
Acquired lease intangible liabilities, gross	(290)	(290)
Accumulated accretion	109	77
Acquired lease intangible liabilities, net	$ (181)	$ (213)

Acquired Lease Intangibles - Summary of Amortization or Accretion Recorded During the Period Related to Acquired Lease Intangibles (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Acquired Finite Lived Intangible Assets [Line Items]
Amortization of (below) above market lease intangibles, net	$ (78)	$ 202	$ 420
In-place Lease Intangibles
Acquired Finite Lived Intangible Assets [Line Items]
Amortization of in-place lease intangibles	13,560	12,445	9,275
Net Above (Below) Market Tenant Leases
Acquired Finite Lived Intangible Assets [Line Items]
Amortization of (below) above market lease intangibles, net	(46)	234	452
Above Market Ground Lease
Acquired Finite Lived Intangible Assets [Line Items]
Accretion Of Above Market Ground Lease Intangible	$ (32)	$ (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, 2016	Dec. 31, 2015
Acquired Finite Lived Intangible Assets [Line Items]
Total	$ 36,365	$ 30,383
In-place Lease Intangibles
Acquired Finite Lived Intangible Assets [Line Items]
2017	10,087
2018	6,979
2019	5,413
2020	3,602
2021	1,947
Thereafter	2,558
Total	30,586
Net Above (Below) Market Lease Intangibles
Acquired Finite Lived Intangible Assets [Line Items]
2017	403
2018	481
2019	417
2020	475
2021	511
Thereafter	883
Total	3,170
Above Market Ground Lease
Acquired Finite Lived Intangible Assets [Line Items]
2017	32
2018	32
2019	32
2020	32
2021	32
Thereafter	21
Total	$ 181

Notes Payable - Summary of Notes Payable (Detail)		9 Months Ended	12 Months Ended
Notes Payable - Summary of Notes Payable (Detail)	Jan. 14, 2016	Sep. 30, 2016 USD ($) loan	Dec. 31, 2016 USD ($) property extension swap	May 12, 2016 USD ($)	Feb. 24, 2016 USD ($)	Dec. 31, 2015 USD ($)	Jun. 11, 2014 USD ($)
Debt Instrument [Line Items]
Principal amount			$ 502,476,000			$ 418,698,000
Less: unamortized discount and deferred loan costs			(2,292,000)			(544,000)
Notes payable			$ 500,184,000			418,154,000
Maximum borrowing capacity							$ 600,000,000.0
Number of extensions \| extension			1
225 Million Term Loan Facility
Debt Instrument [Line Items]
Debt Instrument, Number Of Additional Incremental Loans \| loan		1
Maximum borrowing capacity		$ 100,000,000
Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Current borrowing capacity			$ 200,000,000.0
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			$ 0			140,500,000
Less: unamortized discount and deferred loan costs			$ 0			0
Maturity date			Jun. 11, 2018
Effective Interest Rate			2.32%
LIBOR \| 225 Million Term Loan Facility
Debt Instrument [Line Items]
Principal amount			$ 225,000,000			0
Less: unamortized discount and deferred loan costs			$ 1,680,000			0
Maturity date			Jan. 14, 2023
Effective Interest Rate			2.65%
LIBOR \| Term Loan One
Debt Instrument [Line Items]
Principal amount			$ 59,674,000			60,000,000
Less: unamortized discount and deferred loan costs			$ 204,000			283,000
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]
Basis spread on variable rate			1.75%
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			3.40%
Basis spread on variable rate			1.50%
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%
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			1.55%
Fixed Rate Debt \| 60 Million Term Loan Facility [Member]
Debt Instrument [Line Items]
Amortization period			30 years
Fixed Rate Debt \| LIBOR \| 60 Million Term Loan Facility [Member]
Debt Instrument [Line Items]
Number of derivative instruments \| swap			2
Fixed Rate Debt \| Gilbert La Palma [Member]
Debt Instrument [Line Items]
Amortization period			20 years
Fixed Rate Debt \| 1065 Walnut Street [Member]
Debt Instrument [Line Items]
Amortization period			25 years
Fixed Rate Debt \| Gilbert Street La Palma Avenue
Debt Instrument [Line Items]
Principal amount			$ 2,909,000			3,044,000
Less: unamortized discount and deferred loan costs			$ 145,000			153,000
Maturity date			Mar. 01, 2031
Fixed interest rate			5.125%
Effective Interest Rate			5.39%
Amortization period			20 years
Fixed Rate Debt \| 9401 De Soto Ave
Debt Instrument [Line Items]
Principal amount			$ 5,182,000			5,299,000
Less: unamortized discount and deferred loan costs			$ (180,000)			(303,000)
Maturity date			Apr. 01, 2018
Fixed interest rate			5.95%
Effective Interest Rate			3.50%
Amortization period			30 years
Extension period			5 years
Number of extensions \| extension			1
Fixed Rate Debt \| 1065 E. Walnut Street
Debt Instrument [Line Items]
Principal amount			$ 9,711,000			9,855,000
Less: unamortized discount and deferred loan costs			$ (192,000)			(292,000)
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			100,000,000
Less: unamortized discount and deferred loan costs			$ 635,000			$ 703,000
Maturity date			Aug. 06, 2025
Fixed interest rate			4.29%
Effective Interest Rate			4.36%
Line of Credit \| 225 Million Term Loan Facility \| Term Loan
Debt Instrument [Line Items]
Principal amount		$ 225,000,000
Line of Credit \| LIBOR \| 225 Million Term Loan Facility \| Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
Interest Rate Swap
Debt Instrument [Line Items]
Interest rate swap agreement, notional amount				$ 100,000,000	$ 125,000,000
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%
Minimum \| LIBOR \| Term Loan Facility
Debt Instrument [Line Items]
Additional interest			0.20%
Line of credit facility, amount outstanding			$ 100,000,000
Minimum \| Line of Credit \| LIBOR \| 225 Million Term Loan Facility \| Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate		1.50%	1.50%
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%
Maximum \| LIBOR \| Term Loan Facility
Debt Instrument [Line Items]
Additional interest			0.30%
Line of credit facility, amount outstanding			$ 100,000,000
Maximum \| Line of Credit \| LIBOR \| 225 Million Term Loan Facility \| Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate		2.25%	2.25%

Notes Payable - Additional Information (Detail)					9 Months Ended	12 Months Ended
Notes Payable - Additional Information (Detail)	Jan. 14, 2016	Dec. 11, 2015	Jul. 16, 2015 USD ($)	Jun. 11, 2014 USD ($) extension	Sep. 30, 2016 USD ($)	Dec. 31, 2016 USD ($) property extension	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)
Debt Instrument [Line Items]
Assumption of loan in connection with acquisition of real estate including loan premium						$ 0	$ 17,097,000	$ 10,565,000
Number of extensions \| extension						1
Amended facility maximum future borrowing capacity				$ 600,000,000.0
Notes payable						$ 500,184,000	418,154,000
Principal amount						$ 502,476,000	418,698,000
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
225 Million Term Loan Facility
Debt Instrument [Line Items]
Amended facility maximum future borrowing capacity					$ 100,000,000
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]
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%
Fixed Rate Debt \| 60 Million Term Loan Facility [Member]
Debt Instrument [Line Items]
Amortization period						30 years
Debt service coverage ratio						110.00%
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
Principal amount						$ 59,674,000	60,000,000
LIBOR \| Term Loan two
Debt Instrument [Line Items]
Basis spread on variable rate						1.75%
Number of properties securing loan \| property						8
LIBOR \| 225 Million Term Loan Facility
Debt Instrument [Line Items]
Maturity date						Jan. 14, 2023
Principal amount						$ 225,000,000	0
Federal Funds Rate
Debt Instrument [Line Items]
Basis spread on variable rate						0.50%
Term Loan
Debt Instrument [Line Items]
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 \| Line of Credit \| 225 Million Term Loan Facility
Debt Instrument [Line Items]
Principal amount					$ 225,000,000
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%
Term Loan \| LIBOR \| Line of Credit \| 225 Million Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
Term Loan \| LIBOR \| Line of Credit \| Minimum \| 225 Million Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate					1.50%	1.50%
Term Loan \| LIBOR \| Line of Credit \| Maximum \| 225 Million Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate					2.25%	2.25%
Term Loan \| Base Rate \| Line of Credit \| Minimum \| 225 Million Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
Term Loan \| Base Rate \| Line of Credit \| Maximum \| 225 Million Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate	1.25%
Term Loan \| Federal Funds Rate \| Line of Credit \| 225 Million Term Loan Facility
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
Revolving Credit Facility
Debt Instrument [Line Items]
Maturity date						Jun. 11, 2018
Revolving Credit Facility \| Unsecured Credit Facility
Debt Instrument [Line Items]
Number of extensions \| extension						1
Extension period						1 year
Additional availability						$ 200,000,000
Revolving Credit Facility \| LIBOR
Debt Instrument [Line Items]
Maturity date						Jun. 11, 2018
Principal amount						$ 0	140,500,000
Revolving Credit Facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate						1.30%
Revolving Credit Facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate						1.90%
Revolving Credit Facility \| LIBOR \| Unsecured Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate						1.55%
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%
9401 De Soto Ave \| Fixed Rate Debt
Debt Instrument [Line Items]
Fixed interest rate						5.95%
Amortization period						30 years
Maturity date						Apr. 01, 2018
Number of extensions \| extension						1
Extension period						5 years
Principal amount						$ 5,182,000	5,299,000
1065 E. Walnut Street \| Fixed Rate Debt
Debt Instrument [Line Items]
Fixed interest rate						4.55%
Maturity date						Feb. 01, 2019
Extension period						5 years
Principal amount						$ 9,711,000	$ 9,855,000
1065 E. Walnut Street \| Mortgages
Debt Instrument [Line Items]
Amortization period		25 years
Prepayment prior to January 14, 2017 \| Term Loan \| Line of Credit \| 225 Million Term Loan Facility
Debt Instrument [Line Items]
Prepayment premium, percent	2.00%
Prepayment January 14, 2017 to January 14, 2018 \| Term Loan \| Line of Credit \| 225 Million Term Loan Facility
Debt Instrument [Line Items]
Prepayment premium, percent	1.00%

Notes Payable - Summary of Aggregate Future Minimum Payments of Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Debt Disclosure [Abstract]
2017	$ 1,213
2018	6,163
2019	167,641
2020	166
2021	175
Thereafter	327,118
Total	$ 502,476	$ 418,698

Operating Leases - Future Minimum Base Rate for Predecessor Under Operating Leases (Detail) $ in Thousands	Dec. 31, 2016 USD ($)
Operating Leases, Future Minimum Payments Receivable [Abstract]
2017	$ 104,077
2018	86,366
2019	71,480
2020	54,295
2021	39,546
Thereafter	85,536
Total	$ 441,300

Interest Rate Swaps - Additional Information (Detail) - USD ($)	May 12, 2016	Dec. 31, 2016	Feb. 24, 2016	Dec. 31, 2015
Derivative [Line Items]
Principal amount		$ 502,476,000		$ 418,698,000
Additional amount reclassified from AOCI as an increase to interest expense		$ 1,500,000
Term Loan \| 225 Million Term Loan Facility
Derivative [Line Items]
Principal amount			$ 125,000,000.0
Proceeds from lines of credit	$ 100,000,000
Interest Rate Swap
Derivative [Line Items]
Interest rate swap agreement, notional amount	$ 100,000,000		$ 125,000,000
Other Assets \| Interest Rate Swap
Derivative [Line Items]
Interest rate swap, fixed interest rate	1.406%		1.349%

Interest Rate Contracts - Summary of Interest Rate Swap Agreements (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Derivative [Line Items]
Interest rate swap asset	$ 5,594	$ 0
Interest rate swap liability	2,045	3,144
Interest Rate Swap 1
Derivative [Line Items]
Interest rate swap liability	$ 778
Interest Rate Swap 1 \| Derivative Financial Instruments, Assets
Derivative [Line Items]
Interest Strike Rate	1.349%
Interest rate swap asset	$ 3,245	0
Derivative Asset, Notional Amount	$ 0	0
Interest Rate Swap 2 \| Derivative Financial Instruments, Assets
Derivative [Line Items]
Interest Strike Rate	1.406%
Interest rate swap asset	$ 2,349	0
Derivative Asset, Notional Amount	$ 0	0
Interest Rate Swap 3 \| Derivative Financial Instruments, Liabilities
Derivative [Line Items]
Interest Strike Rate	1.826%
Interest rate swap liability	$ 338	538
Derivative Liability, Notional Amount	30,000	30,000
Interest Rate Swap 4
Derivative [Line Items]
Interest rate swap asset	$ 4,327
Interest Rate Swap 4 \| Derivative Financial Instruments, Liabilities
Derivative [Line Items]
Interest Strike Rate	2.01%
Interest rate swap liability	$ 440	698
Derivative Liability, Notional Amount	$ 29,674	30,000
Interest Rate Swap 5 \| Derivative Financial Instruments, Liabilities
Derivative [Line Items]
Interest Strike Rate	1.79%
Interest rate swap liability	$ 529	849
Derivative Liability, Notional Amount	$ 50,000	50,000
Interest Rate Swap 6 \| Derivative Financial Instruments, Liabilities
Derivative [Line Items]
Interest Strike Rate	2.005%
Interest rate swap liability	$ 738	1,059
Derivative Liability, Notional Amount	$ 50,000	$ 0

Interest Rate Contracts - Impact of Derivative Instruments on Consolidated and Combined Statements of Operations - (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Amount of loss recognized in AOCI on derivatives (effective portion)	$ 4,475	$ (2,781)	$ (1,402)
Amount of gain (loss) reclassified from AOCI into earnings under "Interest expense" (effective portion)	(2,218)	(1,039)	0
Amount of gain (loss) recognized in earnings under "Interest expense" (ineffective portion and amount excluded from effectiveness testing)	$ 0	$ 0	$ 0

Fair Value Measurements - Assets Measures at Fair Value on a Recurring Basis by Level within Fair Value Hierarchy (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Interest Rate Swap Asset	$ 5,594	$ 0
Interest Rate Swap Liability	(2,045)	(3,144)
Significant Other Observable Inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Interest Rate Swap Asset	5,594	0
Interest Rate Swap Liability	$ (2,045)	$ (3,144)

Fair Value Measurements - Carrying Value and Estimated Fair Value of Notes Payable (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable, fair value	$ 507,733	$ 416,497
Notes payable	500,184	418,154
Significant Unobservable Inputs (Level 3)
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable, fair value	$ 507,733	$ 416,497

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Chief Executive Officer
Related Party Transaction [Line Items]
Revenue from management and leasing services	$ 0.3	$ 0.2	$ 0.2

Commitments and Contingencies - Additional Information (Detail) a in Thousands, $ in Thousands, ft² in Millions		12 Months Ended
	Sep. 14, 2016 USD ($) a	Dec. 31, 2016 USD ($) ft² tenant	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Feb. 25, 2014 USD ($)
Commitments And Contingencies [Line Items]
Estimated remedian costs					$ 1,300
Deposits paid					1,400
Holdback escrow seller funded					1,300
Holdback escrow buyer funded					100
Maximum seller liability remediation costs					$ 1,300
Ground lease, expiration date		Jun. 01, 2062
Area of real estate property (square feet) \| ft²		15.0
Commitments for tenant improvement and construction work		$ 10,100
Cash, FDIC Insured Amount		$ 250
Base Rent \| Customer Concentration Risk
Commitments And Contingencies [Line Items]
Number of major tenants \| tenant		0
Total Rental Revenues \| Customer Concentration Risk
Commitments And Contingencies [Line Items]
Concentration risk, percentage		5.00%
Accounts Payable and Accrued Expenses
Commitments And Contingencies [Line Items]
Contingent liability		$ 1,100	$ 1,200
Other Assets
Commitments And Contingencies [Line Items]
Indemnification asset		1,100	1,200
Ground Rent
Commitments And Contingencies [Line Items]
Rent expense		100	100	$ 100
Ground Rent \| Corona, CA [Member]
Commitments And Contingencies [Line Items]
Area of real estate property (square feet) \| a	1,580
Lessee Leasing Arrangements, Operating Leases, Contingency Period	420 days
Lessee Leasing Arrangements, Operating Leases, Lease Commencement Period After Contingencies	30 days
Lessee Leasing Arrangements, Operating Leases, Lease Commencement Delay Period	24 months
Lessee Leasing Arrangements, Operating Leases, Term of Contract	99 years
Lessee Leasing Arrangements, Operating Leases, Period From Commencement To Rent Payments	9 months
Lessee Leasing Arrangements, Operating Leases, Period Of Base Rent Without Increase	10 years
Operating Leases, Rent Expense, Minimum Rentals	$ 956
Operating Leases, Rent Expense, Percent Increase In Rent	15.00%
Office Lease
Commitments And Contingencies [Line Items]
Rent expense		$ 500	$ 500	$ 400

Commitment and Contingencies- Future Minimum Commitment (Detail) $ in Thousands	Dec. 31, 2016 USD ($)
Office Lease
Operating Leased Assets [Line Items]
2017	$ 635
2018	622
2019	337
2021	0
2020	0
Thereafter	0
Total	1,594
Ground Rent
Operating Leased Assets [Line Items]
2017	144
2018	144
2019	144
2021	144
2020	144
Thereafter	5,820
Total	$ 6,540

Investment in Unconsolidated Real Estate - Additional Information (Detail) $ in Thousands			12 Months Ended
	Jul. 06, 2016 USD ($)	Nov. 17, 2014 USD ($)	Dec. 31, 2016 USD ($) property	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Jul. 05, 2016
Schedule Of Equity Method Investments [Line Items]
Number of real estate properties \| property			136
Sale of property at contract price		$ 54,500
Repayments of outstanding loan secured		41,500
Gain on sale of property		13,389	$ 3,458	$ 0	$ 13,389
Payment of customary closing expenses		$ 1,700	5,530	0	1,745
Payments to Acquire Real Estate			367,621	230,599	383,662
Investment in unconsolidated real estate entities			0	4,087
Investment recorded at estimated fair value, basis adjustment.			0	632
Management, leasing and development fees			$ 100	$ 200	$ 400
Mission Oaks Boulevard
Schedule Of Equity Method Investments [Line Items]
Ownership Interest			15.00%
Number of real estate properties \| property			3
3255 Mission Oaks Blvd
Schedule Of Equity Method Investments [Line Items]
Payment of customary closing expenses			$ 5,500
Payments to Acquire Real Estate	$ 25,700
Percentage of voting interests acquired	85.00%		100.00%
Write Off Of Unamortized Basis Adjustment	$ 600
Investment in unconsolidated real estate entities	3,600
Excess distributions, realized gain	$ 1,900
3255 Mission Oaks Blvd \| 3255 Mission Oaks Blvd
Schedule Of Equity Method Investments [Line Items]
Percentage of voting interests acquired						15.00%

Investment in Unconsolidated Real Estate - Combined Financial Information of Predecessor's Equity Method Investment Properties (Detail) - USD ($) $ in Thousands		12 Months Ended
	Nov. 17, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Schedule of Investments [Abstract]
Assets		$ 72	$ 24,280
Liabilities		(31)	(1,250)
Partners’/members’ equity		41	23,030
Carrying value of the Company’s investment in unconsolidated real estate entities (1)		0	4,087
Revenues		1,281	2,673	$ 7,018
Expenses		(442)	(1,911)	(6,526)
Gain on sale of properties	$ 13,389	3,458	0	13,389
Net income		$ 4,297	$ 762	$ 13,881

Dispositions and Discontinued Operations - Summary of the Properties Sold (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2016 USD ($) ft²	Dec. 31, 2015 USD ($) a	Dec. 31, 2014 USD ($) ft²
Property Dispositions [Line Items]
Rentable Square Feet	3,372,794	2,129,753
Gain (Loss) Recorded	$ 0	$ 0	$ 2,125
Gain (loss) on sale of real estate	$ 17,377	$ 0	$ (150)
6010 N Paramount Boulevard [Member]
Property Dispositions [Line Items]
Rentable Square Feet \| ft²	16,534
Contractual Sales Price	$ 2,480
Gain (Loss) Recorded	$ 944
1840 Dana Street [Member]
Property Dispositions [Line Items]
Rentable Square Feet \| ft²	13,497
Contractual Sales Price	$ 4,250
Gain (Loss) Recorded	$ 1,445
East Mulberry Dr [Member]
Property Dispositions [Line Items]
Rentable Square Feet \| ft²	153,080
Contractual Sales Price	$ 15,000
Gain (Loss) Recorded	$ (9,174)
La Palma Ave [Member]
Property Dispositions [Line Items]
Rentable Square Feet \| ft²	115,760
Contractual Sales Price	$ 17,000
Gain (Loss) Recorded	$ (4,752)
331 East 157th Street [Domain]
Property Dispositions [Line Items]
Rentable Square Feet \| ft²	12,000
Contractual Sales Price	$ 1,975
Gain (Loss) Recorded	$ (1,062)
Park Center Drive
Property Dispositions [Line Items]
Rentable Square Feet \| ft²			124,997
Contractual Sales Price			$ 10,103
Gain (Loss) Recorded			$ 2,262
N. Madera Road
Property Dispositions [Line Items]
Rentable Square Feet \| ft²			63,305
Contractual Sales Price			$ 4,350
Gain (Loss) Recorded			$ (137)
Zenith Drive
Property Dispositions [Line Items]
Rentable Square Feet \| ft²			37,992
Contractual Sales Price			$ 1,822
Gain (loss) on sale of real estate			$ (150)

Dispositions and Discontinued Operations - Results of Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Discontinued Operations and Disposal Groups [Abstract]
Revenues			$ 85
Operating expenses			(57)
Depreciation and amortization expense	$ 0	$ 0	(7)
Gain on sale of real estate	0	0	2,125
INCOME FROM DISCONTINUED OPERATIONS	$ 0	$ 0	$ 2,146

- 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 + Details

Stockholder's Equity - Additional Information (Detail) $ / shares in Units, $ in Thousands							12 Months Ended
	Aug. 16, 2016 USD ($) $ / shares shares	Apr. 15, 2016 USD ($) $ / shares shares	Dec. 15, 2015	Apr. 17, 2015 USD ($)	Feb. 03, 2015 USD ($) $ / shares shares	Aug. 19, 2014 USD ($) $ / shares shares	Dec. 31, 2016 USD ($) $ / shares shares	Dec. 31, 2015 USD ($) $ / shares shares	Dec. 31, 2014 USD ($) shares	Dec. 31, 2013 shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecaptured Section 1250 gain, percent of capital gain							100.00%	0.00%	19.00%
Shares outstanding							3,600,000	0
Issuance of common stock, shares					11,500,000	17,250,000
Common stock share price (in dollars per share) \| $ / shares					$ 16	$ 13.50	$ 23.1258756888	$ 16.07
Issuance of common stock, net \| $					$ 176,200	$ 221,800	$ 183,386	$ 175,833	$ 221,773
Underwriting discount and offering costs \| $					$ 7,800	$ 11,100	$ 12,011	8,174	11,158
Net proceeds from public offering used in exchange for common units of partnership interests in OP Units						17,250,000
Non-vested shares							287,827
Repurchase of operating partnership units \| $							$ 0	$ (136)	0
Conversion of common units to common stock, shares							59,646	288,234
Conversion of common units to common stock \| $							$ 0	$ 0	$ 0
Preferred stock, interest							5.875%	5.875%
Liquidation preference (per share) \| $ / shares							$ 25	$ 25
Restricted stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non-vested shares							287,827	333,441	320,017	140,468
OP Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Units redeemed							0	8,468	0
LTIP Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non-vested shares							41,688
Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of common stock, shares								11,500,500
Conversion of common units to common stock, shares									685,915
Conversion of common units to common stock \| $							$ 0	$ 3	$ 7
Noncontrolling Interests
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Conversion of common units to common stock \| $							(630)	(3,162)	(7,779)
Parent
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Underwriting discount and offering costs \| $							12,011	8,174	11,158
Conversion of common units to common stock \| $							$ 630	3,162	$ 7,779
Operating Partnership \| Noncontrolling Interests \| Equity
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of operating partnership units							1,966,996
Noncontrolling interest percentage ownership in Operating Partnership							2.90%
Follow On Public Offer (Equity Offering)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of common stock, shares		10,350,000
Issuance of common stock, net \| $		$ 174,400
Underwriting Discount And Offering Costs \| $		$ 8,300
Follow On Public Offer (Equity Offering) \| OP Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Net proceeds from public offering used in exchange for common units of partnership interests in OP Units		10,350,000
IPO
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of common stock, net \| $								$ 100
ATM Program
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum aggregate offering amount \| $				$ 125,000
At The Market Equity Offering Program
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock share price (in dollars per share) \| $ / shares								$ 14.3
Issuance of common stock, net \| $							$ 9,300	$ 0
Proceeds from issuance of common stock, net \| $							$ 9,200
Common Stock, Shares Available under ATM							115,700,000
Common Stock, Shares, Issued							402,683	500
Series A Preferred Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares outstanding	3,600,000
Preferred stock, interest	5.875%
Liquidation preference (per share) \| $ / shares	$ 25
Preferred Stock, Liquidation Preference Per Share, Limit On Share Conversion							2.2738
Preferred Stock, Dividend Rate, Per-Dollar-Amount \| $ / shares	$ 1.46875
Proceeds from Issuance of Preferred Stock and Preference Stock, Net Of Offering Costs \| $	$ 86,700
Payments of Stock Issuance Costs \| $	$ 3,300
Common Stock \| Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of common stock, shares							10,752,683		17,250,000
Underwriters \| Follow On Public Offer (Equity Offering)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock share price (in dollars per share) \| $ / shares		$ 17.65
Underwriters \| Over-Allotment Option [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of common stock, shares		1,350,000
REIT Portfolio Acquisition [Member] \| Follow On Public Offer (Equity Offering)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of common stock, shares		10,350,000
REIT Portfolio Acquisition [Member] \| 12.5% Preferred Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares outstanding		575
Preferred stock, interest		12.50%
Preferred Stock, Shares Issued		700
Preferred Stock, Redemption Price Per Share \| $ / shares		$ 1,000
Preferred Stock, Redemption Amount \| $		$ 125
REIT Portfolio Acquisition [Member] \| Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of voting interests acquired		100.00%
REIT Portfolio Acquisition [Member] \| Unaffiliated Third Parties \| 12.5% Preferred Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares outstanding		125
2013 Incentive Award Plan \| Absolute TSR Vesting Percentage Range Two \| Performance Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Relative TSR Vesting Percentage			25.00%					20.00%
2013 Incentive Award Plan \| Relative TSR Vesting Percentage Range Two \| Performance Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Absolute TSR Vesting Percentage			25.00%					20.00%
2013 Incentive Award Plan \| 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%					60.00%
2013 Incentive Award Plan \| 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%					60.00%
2013 Incentive Award Plan \| 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%					100.00%
2013 Incentive Award Plan \| 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%					100.00%
2013 Incentive Award Plan \| 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%					0.00%
2013 Incentive Award Plan \| 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%					0.00%

Stockholder's Equity - Summary of the Components of Changes in Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Equity [Abstract]
Accumulated other comprehensive loss - beginning balance	$ (3,033)	$ (1,331)
Other comprehensive income (loss) before reclassifications	4,475	(2,781)
Amounts reclassified from accumulated other comprehensive loss to interest expense	2,218	1,039
Net current period other comprehensive income (loss)	6,693	(1,742)	$ (1,402)
Less other comprehensive (income) loss attributable to noncontrolling interests	(215)	40
Other comprehensive income (loss) attributable to common stockholders	6,478	(1,702)
Accumulated other comprehensive income (loss) - ending balance	$ 3,445	$ (3,033)	$ (1,331)

Stockholder's Equity - Federal Tax Treatment of Distributions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Class of Stock [Line Items]
Unrecaptured Section 1250 gain, percent of capital gain	100.00%	0.00%	19.00%
Common Stock
Class of Stock [Line Items]
Dividend, federal income tax treatment (per share)	$ 0.4536470	$ 0.5100000	$ 0.5000000
Dividend, federal income tax treatment (percent)	100.00%	100.00%	100.00%
Common Stock \| Ordinary Income [Member]
Class of Stock [Line Items]
Dividend, federal income tax treatment (per share)	$ 0.4520850	$ 0.4789478	$ 0.4607500
Dividend, federal income tax treatment (percent)	99.66%	93.91%	92.15%
Common Stock \| 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%
Common Stock \| Capital Gain [Member]
Class of Stock [Line Items]
Dividend, federal income tax treatment (per share)	$ 0.0015620	$ 0.0310522	$ 0.0392500
Dividend, federal income tax treatment (percent)	0.34%	6.09%	7.85%
Preferred Stock
Class of Stock [Line Items]
Dividend, federal income tax treatment (per share)	$ 0.5507800
Dividend, federal income tax treatment (percent)	100.00%
Preferred Stock \| Ordinary Income [Member]
Class of Stock [Line Items]
Dividend, federal income tax treatment (per share)	$ 0.5488840
Dividend, federal income tax treatment (percent)	99.66%
Preferred Stock \| Return Of Capital [Member]
Class of Stock [Line Items]
Dividend, federal income tax treatment (per share)	$ 0.0000000
Dividend, federal income tax treatment (percent)	0.00%
Preferred Stock \| Capital Gain [Member]
Class of Stock [Line Items]
Dividend, federal income tax treatment (per share)	$ 0.0018960
Dividend, federal income tax treatment (percent)	0.34%

Incentive Award Plan - Additional Information (Detail) $ / shares in Units, $ in Thousands		12 Months Ended
	May 30, 2014 USD ($) $ / shares shares	Dec. 31, 2016 USD ($) installment $ / shares shares	Dec. 31, 2015 USD ($) $ / shares shares	Dec. 31, 2014 USD ($) $ / shares shares
Restricted stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period \| shares		103,704	152,103	243,233
Closing share price of common stock \| $ / shares		$ 14.63	$ 14.34	$ 14.00
2013 Incentive Award Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Allocated Share-based Compensation Expense		$ 3,835	$ 1,752	$ 1,018
Common stock and/or LTIP units available for issuance \| shares		2,272,689
Common stock, shares reserved for future issuance \| shares		920,381
Capitalized compensation cost for all equity-based compensation arrangements		$ 147	$ 101	$ 107
2013 Incentive Award Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost for all equity-based compensation arrangements		9,900
Unrecognized compensation cost to be capitalized for all equity-based compensation arrangements		$ 400
Weighted average remaining vesting period		28 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	2,514
Grant date fair value	$ 50
Closing share price of common stock \| $ / shares	$ 19.89
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		91,134
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		$ 17.13
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		$ 22.97

Incentive Award Plan - LTIP Units and Performance Units (Details) - USD ($) $ / shares in Units, $ in Thousands			12 Months Ended
	Dec. 29, 2016	Dec. 15, 2015	Dec. 31, 2016	Dec. 31, 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Method Used			100000
2013 Incentive Award Plan \| 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	$ 1,753	$ 2,157
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	20.00%	24.00%
Expected price volatility, minimum	21.00%	21.00%
Expected price volatility, maximum	50.00%	62.00%
Expected dividend yield	2.80%	3.40%
Risk free interest rate	1.49%	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			199,000
Executive Officers \| LTIP Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity instruments other than options granted in period			116,690
Executive Officers \| 2013 Incentive Award Plan \| 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 \| 2013 Incentive Award Plan \| 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		$ 2,518	$ 2,518
Discount for post-vesting restrictions and uncertainty (percent)				5.00%
Vesting installments (percent)		25.00%
Common Stock \| Executive Officers \| 2013 Incentive Award Plan \| LTIP Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted-Average Grant Date Fair Value per Share, Granted		$ 15.90	$ 22.71
Absolute TSR Vesting Percentage Range One \| 2013 Incentive Award Plan \| Performance Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Relative TSR Vesting Percentage		0.00%		0.00%
Company TSR Percentage		24.00%
Absolute TSR Vesting Percentage Range Two \| 2013 Incentive Award Plan \| Performance Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Relative TSR Vesting Percentage		25.00%		20.00%
Company TSR Percentage		24.00%
Absolute TSR Vesting Percentage Range Three \| 2013 Incentive Award Plan \| Performance Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Relative TSR Vesting Percentage		60.00%		60.00%
Company TSR Percentage		37.00%
Absolute TSR Vesting Percentage Range Four \| 2013 Incentive Award Plan \| Performance Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Relative TSR Vesting Percentage		100.00%		100.00%
Company TSR Percentage		50.00%
Relative TSR Vesting Percentage Range One \| 2013 Incentive Award Plan \| Performance Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Absolute TSR Vesting Percentage		0.00%		0.00%
Peer Group Relative Performance		50.00%
Relative TSR Vesting Percentage Range Two \| 2013 Incentive Award Plan \| Performance Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Absolute TSR Vesting Percentage		25.00%		20.00%
Peer Group Relative Performance		50.00%
Relative TSR Vesting Percentage Range Three \| 2013 Incentive Award Plan \| Performance Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Absolute TSR Vesting Percentage		60.00%		60.00%
Peer Group Relative Performance		62.50%
Relative TSR Vesting Percentage Range Four \| 2013 Incentive Award Plan \| Performance Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Absolute TSR Vesting Percentage		100.00%		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, 2016	Dec. 31, 2015	Dec. 31, 2014
Number of Nonvested Shares of Restricted Common Stock
Number of Nonvested Shares of Restricted Common Stock, Balance	287,827
Restricted stock
Number of Nonvested Shares of Restricted Common Stock
Number of Nonvested Shares of Restricted Common Stock, Balance	333,441	320,017	140,468
Number of Nonvested Shares of Restricted Common Stock, Granted	103,704	152,103	243,233
Number of Nonvested Shares of Restricted Common Stock, Forfeited	(23,968)	(31,925)	(29,664)
Number of Nonvested Shares of Restricted Common Stock, Vested	(125,350)	(106,754)	(34,020)
Number of Nonvested Shares of Restricted Common Stock, Balance	287,827	333,441	320,017
Weighted-Average Grant Date Fair Value per Share
Weighted-Average Grant Date Fair Value per Share, Balance	$ 14.30	$ 14.30	$ 14.00
Weighted-Average Grant Date Fair Value per Share, Granted	18.03	15.34	14.40
Weighted-Average Grant Date Fair Value per Share, Forfeited	15.37	14.54	14.04
Weighted-Average Grant Date Fair Value per Share, Vested	14.63	14.34	14.00
Weighted-Average Grant Date Fair Value per Share, Balance	$ 15.92	$ 14.30	$ 14.30
Fair value of vested shares	$ 2.6	$ 1.6	$ 0.5
Shares tendered for tax withholding requirements	36,374	12,670	6,928

Incentive Award Plan - Shares Tendered (Detail) - shares	12 Months Ended
	Dec. 31, 2016	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	36,374	12,670	6,928

Incentive Award Plan - Vesting Schedule of the Nonvested Shares of Restricted Stock Outstanding (Detail)	Dec. 31, 2016 shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non-vested shares	287,827
2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non-vested shares	167,026
2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non-vested shares	60,466
2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non-vested shares	39,158
2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non-vested shares	21,177

Incentive Award Plan Share-based Awards Expensed & Capitalized Amounts (Details) - 2013 Incentive Award Plan - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	$ 3,835	$ 1,752	$ 1,018
Capitalized compensation cost for all equity-based compensation arrangements	147	101	107
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost	$ 3,982	$ 1,853	$ 1,125

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Numerator:
Net loss from continuing operations					$ 25,876	$ 1,950	$ (1,170)
Net (income) loss attributable to noncontrolling interests					(750)		(80)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Noncontrolling Interest					750	76	(97)
Preferred Stock Dividends, Income Statement Impact					(1,983)	0	0
Net income attributable to participating securities					(302)	(223)	(102)
Loss from continuing operations attributable to Rexford Industrial Realty, Inc.					22,841	1,651	(1,175)
Income from discontinued operations					0	0	2,146
Income from discontinued operations attributable to noncontrolling interests					0	0	(177)
Income from discontinued operations attributable to Rexford Industrial Realty, Inc.					0	0	1,969
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS					$ 22,841	$ 1,651	$ 794
Denominator:
Weighted average shares of common stock outstanding - basic and diluted (in shares)					62,723,021	54,024,923	31,953,506
Incremental Common Shares Attributable to Dilutive Effect of Contingently Issuable Shares					242,533	0	0
Weighted average shares of common stock outstanding - diluted (in dollars per share)					62,965,554	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)					$ 0.36	$ 0.03	$ (0.04)
Net income from discontinued operations available to common stockholders (in dollars per share)					0.00	0.00	0.06
Net income (loss) available to common stockholders (in dollars per share)	$ 0.02	$ 0.01	$ 0.00	$ 0.00	$ 0.36	$ 0.03	$ 0.02

Quarterly Information (unaudited) - Schedule of Quarterly Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Revenues from continuing operations	$ 34,777	$ 33,303	$ 30,608	$ 27,504	$ 26,164	$ 23,674	$ 22,722	$ 21,340	$ 126,192	$ 93,900	$ 66,581
Net operating income	25,310	23,966	22,538	19,827	18,941	17,098	16,407	15,160
Net income (loss) from continuing operations									25,876	1,950	(1,170)
Income (loss) from discontinued operations									0	0	2,146
Net income (loss)	8,546	3,061	12,792	1,477	1,056	617	196	81	25,876	1,950	976
Net income (loss) attributable to common stockholders	$ 6,928	$ 2,267	$ 12,299	$ 1,347	$ 945	$ 540	$ 139	$ 27	$ 25,126	$ 1,874	$ 896
Net income attributable to common stockholders per share - basic (in dollars per share)	$ 0.11	$ 0.03	$ 0.19	$ 0.02
Net income attributable to common stockholders per share - diluted (in dollars per share)	$ 0.10	$ 0.03	$ 0.19	$ 0.02
Net income (loss) available to common stockholders per share - basic and diluted (in dollars per share)					$ 0.02	$ 0.01	$ 0.00	$ 0.00	$ 0.36	$ 0.03	$ 0.02

Subsequent Events - Additional Information (Detail)						12 Months Ended
Subsequent Events - Additional Information (Detail)	Feb. 17, 2017 USD ($) building	Feb. 14, 2017 USD ($) ft² extension	Jan. 05, 2017 USD ($) $ / shares shares	Feb. 03, 2015 USD ($) $ / shares	Aug. 19, 2014 USD ($) $ / shares	Dec. 31, 2016 USD ($) ft² building $ / shares shares	Dec. 31, 2015 USD ($) a building $ / shares shares	Dec. 31, 2014 USD ($)	Jun. 11, 2014 USD ($)
Subsequent Event [Line Items]
Common stock share price (in dollars per share) \| $ / shares				$ 16	$ 13.50	$ 23.1258756888	$ 16.07
Issuance of common stock, net				$ 176,200,000	$ 221,800,000	$ 183,386,000	$ 175,833,000	$ 221,773,000
Maximum borrowing capacity									$ 600,000,000.0
Payments to Acquire Real Estate						$ 367,621,000	$ 230,599,000	$ 383,662,000
Number of Buildings \| building						30	39
Net Rentable Area						3,372,794	2,129,753
Minimum
Subsequent Event [Line Items]
Additional interest						0.20%
Maximum
Subsequent Event [Line Items]
Additional interest						0.30%
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%
Revolving Credit Facility \| LIBOR \| Maximum
Subsequent Event [Line Items]
Basis spread on variable rate						1.90%
Line of Credit \| 300 Million Credit Facility
Subsequent Event [Line Items]
Maximum borrowing capacity						$ 300,000,000
Subsequent Event
Subsequent Event [Line Items]
Maximum borrowing capacity		$ 550,000,000
Subsequent Event \| Eurodollar
Subsequent Event [Line Items]
Basis spread on variable rate		1.00%
Subsequent Event \| Base Rate
Subsequent Event [Line Items]
Basis spread on variable rate		0.50%
Subsequent Event \| Unsecured Revolving Credit Facility \| Minimum
Subsequent Event [Line Items]
Additional interest		0.15%
Commitment Fee Percentage if pricing structure is converted to be based on an investment-grade rating		0.125%
Subsequent Event \| Unsecured Revolving Credit Facility \| Maximum
Subsequent Event [Line Items]
Additional interest		0.30%
Commitment Fee Percentage if pricing structure is converted to be based on an investment-grade rating		0.30%
Subsequent Event \| Unsecured Revolving Credit Facility \| LIBOR \| Minimum
Subsequent Event [Line Items]
Basis spread on variable rate		1.10%
Basis spread on variable rate if additional investment grade rating is attained		0.825%
Subsequent Event \| Unsecured Revolving Credit Facility \| LIBOR \| Maximum
Subsequent Event [Line Items]
Basis spread on variable rate		1.50%
Basis spread on variable rate if additional investment grade rating is attained		1.55%
Subsequent Event \| Unsecured Revolving Credit Facility \| Base Rate \| Minimum
Subsequent Event [Line Items]
Basis spread on variable rate		0.10%
Basis spread on variable rate if additional investment grade rating is attained		0.00%
Subsequent Event \| Unsecured Revolving Credit Facility \| Base Rate \| Maximum
Subsequent Event [Line Items]
Basis spread on variable rate		0.50%
Basis spread on variable rate if additional investment grade rating is attained		0.55%
Subsequent Event \| 100 Million Term Loan [Member] \| LIBOR \| Minimum
Subsequent Event [Line Items]
Basis spread on variable rate		1.20%
Basis spread on variable rate if additional investment grade rating is attained		0.90%
Subsequent Event \| 100 Million Term Loan [Member] \| LIBOR \| Maximum
Subsequent Event [Line Items]
Basis spread on variable rate		1.70%
Basis spread on variable rate if additional investment grade rating is attained		1.75%
Subsequent Event \| 100 Million Term Loan [Member] \| Base Rate \| Minimum
Subsequent Event [Line Items]
Basis spread on variable rate		0.20%
Basis spread on variable rate if additional investment grade rating is attained		0.00%
Subsequent Event \| 100 Million Term Loan [Member] \| Base Rate \| Maximum
Subsequent Event [Line Items]
Basis spread on variable rate		0.70%
Basis spread on variable rate if additional investment grade rating is attained		0.75%
Subsequent Event \| Line of Credit \| 450 Million Senior Credit Facility \| Unsecured Credit Facility
Subsequent Event [Line Items]
Maximum borrowing capacity		$ 450,000,000
Number of extensions \| extension		2
Extension duration period		6 months
Subsequent Event \| Line of Credit \| Unsecured Revolving Credit Facility \| Revolving Credit Facility
Subsequent Event [Line Items]
Maximum borrowing capacity		$ 350,000,000
Subsequent Event \| Line of Credit \| 100 Million Term Loan [Member] \| Term Loan
Subsequent Event [Line Items]
Maximum borrowing capacity		$ 100,000,000
At The Market Equity Offering Program
Subsequent Event [Line Items]
Common Stock, Shares, Issued \| shares						402,683	500
Common stock share price (in dollars per share) \| $ / shares							$ 14.3
Issuance of common stock, net						$ 9,300,000	$ 0
Proceeds from issuance of common stock, net						$ 9,200,000
At The Market Equity Offering Program \| Subsequent Event
Subsequent Event [Line Items]
Common Stock, Shares, Issued \| shares			168,685
Common stock share price (in dollars per share) \| $ / shares			$ 23.1576488722
Issuance of common stock, net			$ 3,900,000
Proceeds from issuance of common stock, net			$ 3,800,000
28903 Avenue Paine \| Subsequent Event
Subsequent Event [Line Items]
Payments to Acquire Real Estate	$ 17,100,000
Number of Buildings \| building	1
Net Rentable Area \| ft²		111,000

Schedule III - Real Estate and Accumulated Depreciation Additional Information (Detail) $ in Millions	Dec. 31, 2016 USD ($)
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
SEC Schedule III, Real Estate, Federal Income Tax Basis	$ 1,500.0

Schedule III - Real Estate and Accumulated Depreciation - Textual (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	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	500,184	$ 418,154
Unamortized debt discount (premium)	2,292	$ 544
La Palma Ave [Member]
Real Estate And Accumulated Depreciation [Line Items]
Unamortized debt discount (premium)	100
RIF V - Jersey, LLC
Real Estate And Accumulated Depreciation [Line Items]
Unamortized debt discount (premium)	(200)
1065 E. Walnut Street
Real Estate And Accumulated Depreciation [Line Items]
Unamortized debt discount (premium)	(200)
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	$ 59,700

Schedule III - Reconciliation of Real Estate and Accumulated Depreciation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Real Estate And Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate, Federal Income Tax Basis	$ 1,500,000
SEC Schedule III, Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance, Beginning of Year	1,188,766	$ 930,462
Acquisition of Investment in Real Estate	356,336	235,948
Construction Costs and Improvements	31,565	22,841
Disposition of Investment in Real Estate	(24,331)	0
Write-off of Fully Depreciated Assets	(207)	(485)
Balance, End of Year	1,551,841
Balance, Beginning of Year	(103,623)	(76,884)
Depreciation of Investment in Real Estate	(34,779)	(27,224)
Disposition of Investment in Real Estate	3,055	0
Write-off of Fully Depreciated Assets	207	485
Balance, End of Year	$ (135,140)	(103,623)	$ (76,884)
Predecessor
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			375,422
Construction Costs and Improvements			14,485
Disposition of Investment in Real Estate			(14,816)
Write-off of Fully Depreciated Assets			(62)
Balance, Beginning of Year		$ (76,884)	(60,898)
Depreciation of Investment in Real Estate			(18,042)
Disposition of Investment in Real Estate			1,994
Write-off of Fully Depreciated Assets			62
Balance, End of Year			$ (76,884)