Rexford Industrial Realty, Inc.

For the period ended Dec 31, 2025. Filed Feb 11, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 11, 2026

REXR$37.95-1.9%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Schedule III – Real Estate and Accumulated Depreciation

As of December 31, 2025

(Dollars in thousands)

Initial Cost · Costs Capitalized Subsequent to Acquisition(1) · Gross Amounts at Which Carried at Close of Period
Property Address · Location · Encumbrances · Land · Building and Improvements · Building and Improvements · Land · Building & Improvements · 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	$11,502	$3,875	$13,909	$17,784	$(10,033)	1965, 2005 / 2003	2002
300 South Lewis Road	Camarillo, CA	—	(3)	4,150	3,050	11,310	4,150	14,360	18,510	(10,499)	1960-1963 / 2006	2003
1400 South Shamrock Ave.	Monrovia, CA	—		2,317	2,534	1,581	2,317	4,115	6,432	(3,179)	1957, 1962 / 2004	2003
2220-2260 Camino del Sol	Oxnard, CA	—	(3)	868	—	5,546	868	5,546	6,414	(3,150)	2005	2003
14250-14278 Valley Blvd.	La Puente, CA	—		2,539	2,020	3,959	2,539	5,979	8,518	(4,559)	1974 / 2007	2003
2300-2386 East Walnut Ave.	Fullerton, CA	—	(3)	6,817	6,089	3,602	6,817	9,691	16,508	(7,018)	1985-1986 / 2005	2004
15140 & 15148 Bledsoe St., 13065 - 13081 Bradley Ave.	Sylmar, CA	—		2,525	3,380	7,576	2,525	10,956	13,481	(7,404)	1969, 2008 / 2016	2004
28340 - 28400 Avenue Crocker	Valencia, CA	—		2,666	3,343	4,591	2,666	7,934	10,600	(5,229)	1987 / 2006 / 2015	2004
21-29 West Easy St.	Simi Valley, CA	—		2,346	4,522	4,318	2,346	8,840	11,186	(5,748)	1991 / 2006	2004
10439-10477 Roselle St.	San Diego, CA	—		4,711	3,199	7,408	4,711	10,607	15,318	(4,785)	1970 / 2007	2013
2575 Pioneer Ave.	Vista, CA	—		1,784	2,974	3,394	1,784	6,368	8,152	(3,943)	1988 / 2006	2004
9641 - 9657 Santa Fe Springs Rd.	Santa Fe Springs, CA	—		3,740	260	7,316	3,740	7,576	11,316	(3,930)	1982 / 2009	2006
2431-2465 Impala Dr.	Carlsbad, CA	—		5,470	7,308	7,634	5,470	14,942	20,412	(9,638)	1983 / 2006	2006
6200 & 6300 Yarrow Dr.	Carlsbad, CA	—		5,001	7,658	5,704	5,001	13,362	18,363	(9,512)	1977-1988 / 2006	2005
6231 & 6241 Yarrow Dr.	Carlsbad, CA	—		3,473	5,119	3,419	3,473	8,538	12,011	(5,672)	1977 / 2006	2006
9160 - 9220 Cleveland Ave., 10860 6th St.	Rancho Cucamonga, CA	—		3,647	11,867	3,674	3,647	15,541	19,188	(11,414)	1988-1989 / 2006	2006
18118-18120 S. Broadway St.	Carson, CA	—		3,013	2,161	1,651	3,013	3,812	6,825	(1,760)	1957 / 1989, 2017	2013
901 W. Alameda Ave.	Burbank, CA	—		6,304	2,996	7,790	6,304	10,786	17,090	(6,200)	1969 / 2009	2007
1938-1946 E. 46th St.	Vernon, CA	—		7,015	7,078	4,323	7,015	11,401	18,416	(6,153)	1961, 1983 / 2008-2010	2007
9220-9268 Hall Rd.	Downey, CA	—		6,974	2,902	1,584	6,974	4,486	11,460	(2,741)	2008	2009
929, 935, 939 & 951 Poinsettia Ave.	Vista, CA	—		4,213	5,584	(1,500)	2,678	5,619	8,297	(3,603)	1989 / 2007	2008

Initial Cost · Costs Capitalized Subsequent to Acquisition(1) · Gross Amounts at Which Carried at Close of Period
Property Address · Location · Encumbrances · Land · Building and Improvements · Building and Improvements · Land · Building & Improvements · Total · Accumulated Depreciation (2) · Year Build / Year Renovated · Year Acquired
6750 Unit C - 6780 Central Ave.	Riverside, CA	—		1,564	584	(202)	678	1,268	1,946	(682)	1978	2007
1050 Arroyo Ave.	San Fernando, CA	—		3,092	1,900	822	3,092	2,722	5,814	(1,343)	1969 / 2012	2010
121-125 N. Vinedo Ave.	Pasadena, CA	—		3,481	3,530	3,626	3,481	7,156	10,637	(1,977)	1953, 1993 / 2024	2011
3441 West MacArthur Blvd.	Santa Ana, CA	—		4,179	5,358	2,808	4,179	8,166	12,345	(2,331)	1973 / 2022	2011
6701 & 6711 Odessa Ave.	Van Nuys, CA	—		1,582	1,856	1,438	1,582	3,294	4,876	(1,846)	1970-1972 / 2012	2011
10700 Jersey Blvd.	Rancho Cucamonga, CA	—		3,158	4,860	3,613	3,158	8,473	11,631	(4,170)	1988-1989	2011
15705, 15709 Arrow Highway & 5220 Fourth St.	Irwindale, CA	—		3,608	2,699	2,065	3,608	4,764	8,372	(2,429)	1987	2011
20920-20950 Normandie Ave.	Torrance, CA	—		3,253	1,605	1,006	3,253	2,611	5,864	(1,430)	1989	2011
14944, 14946, 14948 Shoemaker Ave.	Santa Fe Springs, CA	—		3,720	2,641	1,590	3,720	4,231	7,951	(2,130)	1978 / 2012	2011
1400 S. Campus Ave.	Ontario, CA	—		3,266	2,961	21	3,266	2,982	6,248	(1,957)	1964-1966, 1973, 1987	2012
15041 Calvert St.	Van Nuys, CA	—		4,096	1,570	272	4,096	1,842	5,938	(849)	1971	2012
701 Del Norte Blvd.	Oxnard, CA	—		3,082	6,230	2,181	3,082	8,411	11,493	(4,150)	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	11,007	17,978	50,478	68,456	(21,761)	1966, 1992, 1993, 1994	2013
1661 240th St.	Los Angeles, CA	—		3,043	2,550	4,031	3,043	6,581	9,624	(3,425)	1975 / 1995	2013
18310-18330 Oxnard St.	Tarzana, CA	—		2,497	5,494	2,206	2,497	7,700	10,197	(3,888)	1973	2013
1100-1170 Gilbert St. & 2353-2373 La Palma Ave.	Anaheim, CA	1,323		4,582	5,135	4,412	4,582	9,547	14,129	(4,607)	1972 / 1990 / 2013	2013
280 Bonita Ave., 2743 Thompson Creek Rd.	Pomona, CA	—		8,001	17,734	601	8,001	18,335	26,336	(8,057)	1983	2013
2950 Madera Rd.	Simi Valley, CA	—	(3)	3,601	8,033	1,041	3,601	9,074	12,675	(3,687)	1988 / 2005	2013
10635 Vanowen St.	Burbank, CA	—		1,517	1,833	1,483	1,517	3,316	4,833	(1,707)	1977	2013
7110 Rosecrans Ave.	Paramount, CA	—		3,117	1,894	2,495	3,117	4,389	7,506	(1,819)	1972 / 2015, 2019	2014
845, 855, 865 S Milliken Ave & 4317, 4319 Santa Ana St.	Ontario, CA	—		2,260	6,043	1,901	2,260	7,944	10,204	(3,830)	1985	2014
1500-1510 W. 228th St.	Torrance, CA	—		2,428	4,271	7,711	2,428	11,982	14,410	(4,294)	1963 / 1968, 2017	2014
24105 Frampton Ave.	Torrance, CA	—		2,315	1,553	2,090	2,315	3,643	5,958	(1,704)	1974 / 2016	2014

Initial Cost · Costs Capitalized Subsequent to Acquisition(1) · Gross Amounts at Which Carried at Close of Period
Property Address	Location	Encumbrances	Land	Building and Improvements	Building and Improvements	Land	Building & Improvements	Total	Accumulated Depreciation (2)	Year Build / Year Renovated	Year Acquired
1700 Saturn Way	Seal Beach, CA	—	7,935	10,525	371	7,935	10,896	18,831	(4,851)	2006	2014
2980 & 2990 N San Fernando Road	Burbank, CA	—	6,373	7,356	1,107	6,373	8,463	14,836	(3,876)	1950 / 2004	2014
20531 Crescent Bay Dr.	Lake Forest, CA	—	2,181	4,012	517	2,181	4,529	6,710	(2,124)	1998	2014
2610 & 2701 S. Birch Street	Santa Ana, CA	—	9,305	2,115	4,668	9,305	6,783	16,088	(3,269)	1965 / 2016	2014
710 South Dupont Avenue & 4051 Santa Ana Street	Ontario, CA	—	3,725	6,145	2,116	3,725	8,261	11,986	(3,279)	2001	2014
9755 Distribution Ave.	San Diego, CA	—	1,863	3,211	2,038	1,863	5,249	7,112	(1,726)	1974 / 2024	2014
9855 Distribution Ave	San Diego, CA	—	2,733	5,041	918	2,733	5,959	8,692	(2,575)	1983	2014
9340 Cabot Drive	San Diego, CA	—	4,311	6,126	4,664	4,311	10,790	15,101	(3,532)	1975 / 1976	2014
9404 Cabot Drive	San Diego, CA	—	2,413	3,451	685	2,413	4,136	6,549	(1,801)	1975 / 1976	2014
9455 Cabot Drive	San Diego, CA	—	4,423	6,799	7,808	4,423	14,607	19,030	(3,603)	1975 / 1976, 2025	2014
14955-14971 E Salt Lake Ave	City of Industry, CA	—	5,125	5,009	5,745	5,125	10,754	15,879	(3,196)	1979 / 2025	2014
5235 East Hunter Ave.	Anaheim, CA	—	5,240	5,065	12,208	5,240	17,273	22,513	(974)	1987	2014
3880 West Valley Blvd.	Pomona, CA	—	3,982	4,796	3,635	3,982	8,431	12,413	(3,831)	1980 / 2017	2014
1601 Alton Pkwy.	Irvine, CA	—	7,638	4,946	8,975	7,638	13,921	21,559	(5,851)	1974 / 2018	2014
3116 W. Avenue 32	Los Angeles, CA	—	3,761	6,729	3,515	3,761	10,244	14,005	(4,694)	1974	2014
21040 Nordoff Street; 9035 Independence Avenue; 21019 - 21045 Osborne Street	Chatsworth, CA	—	7,230	9,058	8,022	7,230	17,080	24,310	(6,691)	1979 / 1980	2014
24935 & 24955 Avenue Kearny	Santa Clarita, CA	—	4,773	5,970	2,504	4,773	8,474	13,247	(3,355)	1988	2014
605 8th Street	San Fernando, CA	—	2,393	2,742	2,147	2,393	4,889	7,282	(2,008)	1991 / 2015, 2020	2014
9120 Mason Ave.	Chatsworth, CA	—	9,224	19,346	997	9,224	20,343	29,567	(8,403)	1967 / 1999	2014
7900 Nelson Rd.	Los Angeles, CA	—	8,495	15,948	2,798	8,495	18,746	27,241	(7,829)	1998 / 2015	2014
679-691 S Anderson St.	Los Angeles, CA	—	1,723	4,767	1,955	1,723	6,722	8,445	(2,796)	1992 / 2017	2014
10509 Business Drive	Fontana, CA	—	3,505	5,237	3,450	3,505	8,687	12,192	(3,025)	1989	2014
13231 Slover Avenue	Fontana, CA	—	2,812	4,739	1,194	2,812	5,933	8,745	(2,690)	1990	2014
240 W Ivy Avenue	Inglewood, CA	—	2,064	3,675	4,622	2,064	8,297	10,361	(3,637)	1981	2014

Initial Cost · Costs Capitalized Subsequent to Acquisition(1) · Gross Amounts at Which Carried at Close of Period
Property Address	Location	Encumbrances	Land	Building and Improvements	Building and Improvements	Land	Building & Improvements	Total	Accumulated Depreciation (2)	Year Build / Year Renovated	Year Acquired
3000 Paseo Mercado, 3120-3150 Paseo Mercado	Oxnard, CA	—	2,616	8,311	2,456	2,616	10,767	13,383	(5,077)	1988	2014
1800 Eastman Ave.	Oxnard, CA	—	842	2,209	187	842	2,396	3,238	(1,073)	2009	2014
201 Rice Ave. & 2400-2420 Celsius	Oxnard, CA	—	3,487	9,589	3,038	3,487	12,627	16,114	(5,091)	2008	2014
11120, 11160, 11200 Hindry Ave	Los Angeles, CA	—	3,478	7,834	1,174	3,478	9,008	12,486	(3,791)	1992 / 1994	2014
6970-7170 & 7310-7374 Convoy Ct.	San Diego, CA	—	10,805	18,426	5,238	10,805	23,664	34,469	(10,846)	1971	2014
12907 Imperial Highway	Santa Fe Springs, CA	—	5,462	6,678	3,266	5,462	9,944	15,406	(2,739)	1997 / 2024	2015
8902-8940 Activity Road	San Diego, CA	—	9,427	8,103	4,397	9,427	12,500	21,927	(5,280)	1987 / 1997 / 2024	2015
1210 N Red Gum St.	Anaheim, CA	—	3,326	4,020	1,517	3,326	5,537	8,863	(2,251)	1985 / 2020	2015
9615 Norwalk Blvd.	Santa Fe Springs, CA	—	8,508	1,134	53,292	8,508	54,426	62,934	(324)	1975 / 2025	2015
16221 Arthur St.	Cerritos, CA	—	2,979	3,204	1,828	2,979	5,032	8,011	(1,893)	1979 / 2021	2015
2588 & 2605 Industry Way	Lynwood, CA	—	8,738	9,415	—	8,738	9,415	18,153	(4,217)	1969 / 1971	2015
425 S. Hacienda Blvd.	City of Industry, CA	—	4,010	3,050	691	4,010	3,741	7,751	(1,505)	1997	2015
6700 S Alameda St.	Huntington Park, CA	—	3,502	9,279	498	3,502	9,777	13,279	(4,335)	1990 / 2008	2015
12720-12860 Danielson Ct.	Poway, CA	—	6,902	8,949	2,613	6,902	11,562	18,464	(5,445)	1999	2015
10950 Norwalk Blvd & 12241 Lakeland Rd.	Santa Fe Springs, CA	—	3,446	1,241	550	3,446	1,791	5,237	(927)	1982	2015
610-760 W Hueneme Rd. & 5651-5721 Perkins Rd.	Oxnard, CA	—	3,310	5,806	3,462	3,310	9,268	12,578	(4,784)	1985	2015
10701-10719 Norwalk Blvd.	Santa Fe Springs, CA	—	3,357	3,527	368	3,357	3,895	7,252	(1,623)	2004	2015
6020 Sheila St.	Commerce, CA	—	4,590	7,772	1,184	4,590	8,956	13,546	(3,583)	2000	2015
9805 6th St.	Rancho Cucamonga, CA	—	3,503	3,204	1,624	3,503	4,828	8,331	(2,398)	1986	2015
16321 Arrow Hwy.	Irwindale, CA	—	3,087	4,081	466	3,087	4,547	7,634	(1,812)	1955 / 2001	2015
601-605 S. Milliken Ave.	Ontario, CA	—	5,479	7,036	2,667	5,479	9,703	15,182	(4,371)	1987 / 1988	2015
1065 E. Walnut Ave.	Carson, CA	—	10,038	4,380	5,887	10,038	10,267	20,305	(4,004)	1974	2015
12247 Lakeland Rd.	Santa Fe Springs, CA	—	3,481	776	1,345	3,481	2,121	5,602	(866)	1971 / 2016	2015
17311 Nichols Lane	Huntington Beach, CA	—	7,988	8,728	1,667	7,988	10,395	18,383	(3,399)	1993 / 2014, 2024	2015
8525 Camino Santa Fe	San Diego, CA	—	4,038	4,055	2,616	4,038	6,671	10,709	(2,951)	1986	2016

Initial Cost · Costs Capitalized Subsequent to Acquisition(1) · Gross Amounts at Which Carried at Close of Period
Property Address	Location	Encumbrances	Land	Building and Improvements	Building and Improvements	Land	Building & Improvements	Total	Accumulated Depreciation (2)	Year Build / Year Renovated	Year Acquired
28454 Livingston Avenue	Valencia, CA	—	5,150	9,666	1,195	5,150	10,861	16,011	(4,139)	2007	2016
16425 Gale Avenue	City of Industry, CA	—	18,803	6,029	3,065	18,803	9,094	27,897	(2,906)	1976	2016
12131 Western Avenue	Garden Grove, CA	—	15,077	11,149	4,884	15,077	16,033	31,110	(6,455)	1987 / 2007, 2017	2016
9 Holland	Irvine, CA	—	13,724	9,365	1,547	13,724	10,912	24,636	(4,239)	1980 / 2013	2016
15996 Jurupa Avenue	Fontana, CA	—	7,855	12,056	153	7,855	12,209	20,064	(4,871)	2015	2016
11127 Catawba Avenue	Fontana, CA	—	5,562	8,094	127	5,562	8,221	13,783	(3,283)	2015	2016
13550 Stowe Drive	Poway, CA	—	9,126	8,043	—	9,126	8,043	17,169	(3,513)	1991	2016
10750-10826 Lower Azusa Road	El Monte, CA	—	4,433	2,961	2,338	4,433	5,299	9,732	(2,192)	1975	2016
525 Park Avenue	San Fernando, CA	—	3,830	3,887	732	3,830	4,619	8,449	(1,757)	2003	2016
3211-3233 Mission Oaks Blvd.	Camarillo, CA	—	13,791	10,017	45,101	13,791	55,118	68,909	(11,267)	1980-1982 / 2014, 2018, 2019, 2025	2016
1600 Orangethorpe Ave. & 1335-1375 Acacia Ave.	Fullerton, CA	—	26,659	12,673	6,194	26,659	18,867	45,526	(8,206)	1968 / 1985	2016
14742-14750 Nelson Avenue	City of Industry, CA	—	13,463	1,680	17,745	13,463	19,425	32,888	(6,798)	1969 / 2018	2016
301-445 Figueroa Street	Wilmington, CA	—	7,126	5,728	5,614	7,126	11,342	18,468	(4,057)	1972 / 2018	2016
12320 4th Street	Rancho Cucamonga, CA	—	12,642	14,179	39	12,642	14,218	26,860	(6,144)	1997/2003	2016
9190 Activity Road	San Diego, CA	—	8,497	5,622	954	8,497	6,576	15,073	(2,878)	1986	2016
28903-28903 Avenue Paine	Valencia, CA	—	10,620	6,510	20,230	10,620	26,740	37,360	(6,213)	1999 / 2018, 2022	2017
2390 Ward Avenue	Simi Valley, CA	—	5,624	10,045	3,233	5,624	13,278	18,902	(4,958)	1989	2017
Safari Business Center(4)	Ontario, CA	—	50,807	86,065	22,794	50,807	108,859	159,666	(41,353)	1989	2017
4175 Conant Street	Long Beach, CA	—	13,785	13,440	—	13,785	13,440	27,225	(5,249)	2015	2017
5421 Argosy Avenue	Huntington Beach, CA	—	3,577	1,490	174	3,577	1,664	5,241	(712)	1976	2017
14820-14830 Carmenita Road	Norwalk, CA	—	22,938	6,738	2,420	22,938	9,158	32,096	(3,189)	1970, 2000	2017
3002-3072 Inland Empire Blvd.	Ontario, CA	—	11,980	14,439	4,127	11,980	18,566	30,546	(7,604)	1981	2017
800 Sandhill Avenue (17000 Kingsview Avenue)	Carson, CA	—	7,988	5,472	4,424	7,988	9,896	17,884	(1,951)	1984 / 2025	2017
2301-2329, 2331-2359, 2361-2399, 2370-2398 & 2332-2366 E. Pacifica Place; 20001-20021 Rancho Way	Rancho Dominguez, CA	—	121,329	86,776	32,439	121,329	119,215	240,544	(34,359)	1989 / 2021, 2025	2017

Initial Cost · Costs Capitalized Subsequent to Acquisition(1) · Gross Amounts at Which Carried at Close of Period
Property Address	Location	Encumbrances	Land	Building and Improvements	Building and Improvements	Land	Building & Improvements	Total	Accumulated Depreciation (2)	Year Build / Year Renovated	Year Acquired
11190 White Birch Drive	Rancho Cucamonga, CA	—	9,405	9,840	950	9,405	10,790	20,195	(3,997)	1986	2017
4832-4850 Azusa Canyon Road	Irwindale, CA	—	5,330	8,856	568	5,330	9,424	14,754	(3,172)	2016	2017
1825 Soto Street	Los Angeles, CA	—	2,129	1,315	215	2,129	1,530	3,659	(564)	1993	2017
19402 Susana Road	Rancho Dominguez, CA	—	3,524	357	23	3,524	380	3,904	(183)	1957	2017
13225 Western Avenue	Gardena, CA	—	1,918	355	363	1,918	718	2,636	(246)	1955	2017
687 Eucalyptus Avenue	Inglewood, CA	—	37,035	15,120	275	37,035	15,395	52,430	(4,968)	2017	2017
302 Rockefeller Avenue	Ontario, CA	—	6,859	7,185	881	6,859	8,066	14,925	(2,661)	2000	2017
4355 Brickell Street	Ontario, CA	—	7,295	5,616	573	7,295	6,189	13,484	(2,259)	2004	2017
12622-12632 Monarch Street	Garden Grove, CA	—	11,691	8,290	2,106	11,691	10,396	22,087	(3,865)	1967	2017
8315 Hanan Way	Pico Rivera, CA	—	8,714	4,751	180	8,714	4,931	13,645	(1,718)	1976	2017
13971 Norton Avenue	Chino, CA	—	5,293	6,377	2,847	5,293	9,224	14,517	(2,518)	1990	2018
1900 Proforma Avenue	Ontario, CA	—	10,214	5,127	1,656	10,214	6,783	16,997	(2,905)	1989	2018
16010 Shoemaker Avenue	Cerritos, CA	—	9,927	6,948	741	9,927	7,689	17,616	(2,505)	1985	2018
4039 Calle Platino	Oceanside, CA	—	9,476	11,394	5,000	9,476	16,394	25,870	(4,651)	1991 / 2024	2018
851 Lawrence Drive	Thousand Oaks, CA	—	6,717	—	13,504	6,717	13,504	20,221	(2,964)	1968 / 2021	2018
1581 North Main Street	Orange, CA	—	4,230	3,313	273	4,230	3,586	7,816	(1,161)	1994	2018
1580 West Carson Street	Long Beach, CA	—	5,252	2,496	2,254	5,252	4,750	10,002	(1,684)	1982 / 2018	2018
660 & 664 North Twin Oaks Valley Road	San Marcos, CA	—	6,307	6,573	444	6,307	7,017	13,324	(2,444)	1978 - 1988	2018
1190 Stanford Court	Anaheim, CA	—	3,583	2,430	432	3,583	2,862	6,445	(923)	1979	2018
5300 Sheila Street	Commerce, CA	—	90,568	54,086	236	90,568	54,322	144,890	(17,985)	1975	2018
15777 Gateway Circle	Tustin, CA	—	3,815	4,292	63	3,815	4,355	8,170	(1,339)	2005	2018
1998 Surveyor Avenue	Simi Valley, CA	—	3,670	2,263	4,918	3,670	7,181	10,851	(2,211)	2018	2018
3100 Fujita Street	Torrance, CA	—	7,723	5,649	1,983	7,723	7,632	15,355	(1,881)	1970	2018
4416 Azusa Canyon Road	Irwindale, CA	—	10,762	1,567	21,210	10,762	22,777	33,539	(4)	1956 / 2025	2018
1420 McKinley Avenue	Compton, CA	—	17,053	13,605	143	17,053	13,748	30,801	(4,368)	2017	2018
12154 Montague Street	Pacoima, CA	—	10,114	12,767	959	10,114	13,726	23,840	(3,960)	1974	2018
10747 Norwalk Boulevard	Santa Fe Springs, CA	—	5,646	4,966	2,323	5,646	7,289	12,935	(1,698)	1999	2018
29003 Avenue Sherman	Valencia, CA	—	3,094	6,467	1,826	3,094	8,293	11,387	(2,114)	2000 / 2019	2018

Initial Cost · Costs Capitalized Subsequent to Acquisition(1) · Gross Amounts at Which Carried at Close of Period
Property Address	Location	Encumbrances	Land	Building and Improvements	Building and Improvements	Land	Building & Improvements	Total	Accumulated Depreciation (2)	Year Build / Year Renovated	Year Acquired
16121 Carmenita Road	Cerritos, CA	—	10,013	3,279	4,378	10,013	7,657	17,670	(2,018)	1969/1983, 2020	2018
1332-1340 Rocky Point Drive	Oceanside, CA	—	1,196	1,915	286	1,196	2,201	3,397	(731)	2009 / 2019	2018
6131-6133 Innovation Way	Carlsbad, CA	—	10,545	11,859	587	10,545	12,446	22,991	(3,969)	2017	2018
263-321 Gardena Boulevard	Carson, CA	—	14,302	1,960	2,644	14,302	4,604	18,906	(942)	1977 - 1982 / 2024	2018
9200 Mason Avenue	Chatsworth, CA	—	4,887	4,080	2,885	4,887	6,965	11,852	(1,195)	1968	2018
9230 Mason Avenue	Chatsworth, CA	—	4,454	955	1,271	4,454	2,226	6,680	(422)	1974	2018
9250 Mason Avenue	Chatsworth, CA	—	4,034	2,464	687	4,034	3,151	7,185	(764)	1977	2018
9171 Oso Avenue	Chatsworth, CA	—	5,647	2,801	20	5,647	2,821	8,468	(904)	1980	2018
5593-5595 Fresca Drive	La Palma, CA	—	11,414	2,502	818	11,414	3,320	14,734	(1,121)	1973	2018
6100 Sheila Street	Commerce, CA	—	11,789	5,214	2,511	11,789	7,725	19,514	(2,467)	1960	2018
14421-14441 Bonelli Street	City of Industry, CA	—	12,191	7,489	361	12,191	7,850	20,041	(2,411)	1971	2018
12821 Knott Street	Garden Grove, CA	—	17,896	2,824	17,426	17,896	20,250	38,146	(2,593)	1971 / 2023	2019
28510 Industry Drive	Valencia, CA	—	2,395	5,466	128	2,395	5,594	7,989	(1,584)	2017	2019
Conejo Spectrum Business Park	Thousand Oaks, CA	—	38,877	64,721	2,257	38,877	66,978	105,855	(18,594)	2018 / 2020	2019
2455 Ash Street	Vista, CA	—	4,273	1,966	327	4,273	2,293	6,566	(910)	1990	2019
25413 Rye Canyon Road	Santa Clarita, CA	—	3,245	2,352	3,850	3,245	6,202	9,447	(1,319)	1981	2019
1515 15th Street	Los Angeles, CA	—	23,363	5,208	2,485	23,363	7,693	31,056	(1,988)	1977	2019
13890 Nelson Avenue	City of Industry, CA	—	25,642	14,616	402	25,642	15,018	40,660	(4,295)	1982	2019
445-449 Freedom Avenue	Orange, CA	—	9,084	8,286	650	9,084	8,936	18,020	(2,627)	1980	2019
980 Rancheros Drive	San Marcos, CA	—	2,901	4,245	346	2,901	4,591	7,492	(1,350)	1982	2019
1145 Arroyo Avenue	San Fernando, CA	—	19,556	9,567	1,638	19,556	11,205	30,761	(3,133)	1989	2019
1150 Aviation Place	San Fernando, CA	—	18,989	10,067	40	18,989	10,107	29,096	(3,182)	1989	2019
1175 Aviation Place	San Fernando, CA	—	12,367	4,858	3,613	12,367	8,471	20,838	(1,534)	1989 / 2025	2019
1245 Aviation Place	San Fernando, CA	—	16,407	9,572	143	16,407	9,715	26,122	(2,852)	1989	2019

Initial Cost · Costs Capitalized Subsequent to Acquisition(1) · Gross Amounts at Which Carried at Close of Period
Property Address	Location	Encumbrances	Land	Building and Improvements	Building and Improvements	Land	Building & Improvements	Total	Accumulated Depreciation (2)	Year Build / Year Renovated	Year Acquired
635 8th Street	San Fernando, CA	—	8,787	5,922	2,125	8,787	8,047	16,834	(1,887)	1989	2019
10015 Waples Court	San Diego, CA	—	12,280	9,198	5,463	12,280	14,661	26,941	(3,429)	1988 / 2020	2019
19100 Susana Road	Rancho Dominguez, CA	—	11,576	2,265	450	11,576	2,715	14,291	(1,033)	1956	2019
15385 Oxnard Street	Van Nuys, CA	—	11,782	5,212	235	11,782	5,447	17,229	(1,601)	1988	2019
9750-9770 San Fernando Road	Sun Valley, CA	—	6,718	543	223	6,718	766	7,484	(344)	1952	2019
218 S. Turnbull Canyon	City of Industry, CA	—	19,075	8,061	3,962	19,075	12,023	31,098	(2,687)	1999	2019
Limonite Ave. & Archibald Ave.	Eastvale, CA	—	23,848	—	31,704	23,848	31,704	55,552	(7,663)	2020	2019
3340 San Fernando Road	Los Angeles, CA	—	2,885	147	(115)	2,770	147	2,917	(119)	n/a	2019
5725 Eastgate Drive	San Diego, CA	—	6,543	1,732	332	6,543	2,064	8,607	(858)	1995	2019
18115 Main Street	Carson, CA	—	7,142	776	324	7,142	1,100	8,242	(388)	1988	2019
3150 Ana Street	Rancho Dominguez, CA	—	15,997	3,036	27	15,997	3,063	19,060	(967)	1957	2019
1402 Avenida Del Oro	Oceanside, CA	—	33,006	34,439	39	33,006	34,478	67,484	(10,039)	2016	2019
9607-9623 Imperial Highway	Downey, CA	—	9,766	865	2,291	9,766	3,156	12,922	(964)	1974	2019
12200 Bellflower Boulevard	Downey, CA	—	14,960	2,057	425	14,960	2,482	17,442	(855)	1955	2019
Storm Parkway	Torrance, CA	—	42,178	21,987	6,696	42,178	28,683	70,861	(6,440)	1982 - 2008 / 2024	2019
2328 Teller Road	Newbury Park, CA	—	8,330	14,304	2,316	8,330	16,620	24,950	(4,658)	1970 / 2018	2019
6277-6289 Slauson Avenue	Commerce, CA	—	27,809	11,454	3,118	27,809	14,572	42,381	(3,795)	1962 - 1977	2019
750 Manville Street	Compton, CA	—	8,283	2,784	652	8,283	3,436	11,719	(997)	1977	2019
8985 Crestmar Point	San Diego, CA	—	6,990	1,350	6,632	6,990	7,982	14,972	(624)	1988 / 2025	2019
404-430 Berry Way	Brea, CA	—	21,047	4,566	69	19,315	6,367	25,682	—	1964 - 1967	2019
415-435 Motor Avenue	Azusa, CA	—	7,364	—	10,971	7,364	10,971	18,335	(1,744)	1956 / 2022	2019
508 East E Street	Wilmington, CA	—	10,742	4,380	(4,380)	10,742	—	10,742	—	1988 / 2024	2019
12752-12822 Monarch Street	Garden Grove, CA	—	29,404	4,262	23,457	29,404	27,719	57,123	(4,167)	1971 / 2023	2019
1601 Mission Blvd.	Pomona, CA	—	67,623	18,962	5,186	67,623	24,148	91,771	(6,614)	1952	2019

Initial Cost · Costs Capitalized Subsequent to Acquisition(1) · Gross Amounts at Which Carried at Close of Period
Property Address	Location	Encumbrances	Land	Building and Improvements	Building and Improvements	Land	Building & Improvements	Total	Accumulated Depreciation (2)	Year Build / Year Renovated	Year Acquired
2757 Del Amo Blvd.	Rancho Dominguez, CA	—	10,035	2,073	584	10,035	2,657	12,692	(916)	1967	2019
18250 Euclid Street	Fountain Valley, CA	—	11,116	3,201	23	11,116	3,224	14,340	(895)	1974	2019
701-751 Kingshill Place	Carson, CA	6,715	23,016	10,344	4,576	23,016	14,920	37,936	(3,621)	1979 / 2020	2020
2601-2641 Manhattan Beach Blvd	Redondo Beach, CA	—	30,333	9,427	6,312	30,333	15,739	46,072	(4,311)	1978	2020
2410-2420 Santa Fe Avenue	Redondo Beach, CA	10,300	24,310	13,128	6	24,310	13,134	37,444	(3,228)	1977	2020
11600 Los Nietos Road	Santa Fe Springs, CA	—	12,033	4,666	6,307	12,033	10,973	23,006	(1,278)	1976 / 2022	2020
5160 Richton Street	Montclair, CA	—	7,199	8,203	1,245	7,199	9,448	16,647	(2,368)	2004	2020
2205 126th Street	Hawthorne, CA	5,200	11,407	6,834	1,406	11,407	8,240	19,647	(2,364)	1998	2020
11832-11954 La Cienega Blvd	Hawthorne, CA	3,688	13,625	5,721	1,257	13,625	6,978	20,603	(2,130)	1999	2020
7612-7642 Woodwind Drive	Huntington Beach, CA	—	10,634	2,901	942	10,634	3,843	14,477	(968)	2001	2020
960-970 Knox Street	Torrance, CA	—	7,324	2,380	1,227	7,324	3,607	10,931	(1,342)	1976	2020
25781 Atlantic Ocean Drive	Lake Forest, CA	—	4,358	1,067	846	4,358	1,913	6,271	(450)	1996	2020
720-750 Vernon Avenue	Azusa, CA	—	14,088	1,638	4	14,088	1,642	15,730	(700)	1950	2020
6687 Flotilla Street	Commerce, CA	—	14,501	6,053	627	14,501	6,680	21,181	(1,626)	1956	2020
22895 Eastpark Drive	Yorba Linda, CA	—	5,337	1,370	199	5,337	1,569	6,906	(481)	1986	2020
8745-8775 Production Avenue	San Diego, CA	—	6,471	1,551	2,014	6,471	3,565	10,036	(1,067)	1974 / 2021	2020
15850 Slover Avenue	Fontana, CA	—	3,634	6,452	55	3,634	6,507	10,141	(1,410)	2020	2020
15650-15700 Avalon Blvd	Los Angeles, CA	—	22,353	5,988	9,208	22,353	15,196	37,549	(1,800)	1962 - 1978 / 2022	2020
11308-11350 Penrose Street	Sun Valley, CA	—	15,884	11,169	5,184	15,884	16,353	32,237	(3,099)	1974 / 2024	2020
11076-11078 Fleetwood Street	Sun Valley, CA	—	3,217	1,446	1,404	3,217	2,850	6,067	(587)	1974	2020
12133 Greenstone Avenue	Santa Fe Springs, CA	—	5,900	891	7,408	5,900	8,299	14,199	(1,119)	1967 / 2023	2020
12772 San Fernando Road	Sylmar, CA	—	17,302	3,832	22,310	17,302	26,142	43,444	(21)	1964 / 2013 / 2025	2020
15601 Avalon Blvd	Los Angeles, CA	—	15,776	—	13,873	15,776	13,873	29,649	(1,873)	1984 / 2023	2020
Gateway Pointe	Whittier, CA	—	132,659	154,250	1,777	132,659	156,027	288,686	(31,074)	2005 - 2006	2020

Initial Cost · Costs Capitalized Subsequent to Acquisition(1) · Gross Amounts at Which Carried at Close of Period
Property Address	Location	Encumbrances	Land	Building and Improvements	Building and Improvements	Land	Building & Improvements	Total	Accumulated Depreciation (2)	Year Build / Year Renovated	Year Acquired
13943-13955 Balboa Blvd	Sylmar, CA	13,814	26,795	18,484	2,144	26,795	20,628	47,423	(4,539)	2000	2020
Van Nuys Airport Industrial Center	Van Nuys, CA	—	91,894	58,625	12,865	91,894	71,490	163,384	(13,711)	1961 - 2007	2020
4039 State Street	Montclair, CA	—	12,829	15,485	124	12,829	15,609	28,438	(3,281)	2020	2020
10156 Live Oak Avenue	Fontana, CA	—	19,779	27,186	965	19,779	28,151	47,930	(5,969)	2020	2020
10694 Tamarind Avenue	Fontana, CA	—	8,878	12,325	190	8,878	12,515	21,393	(2,568)	2020	2020
2520 Baseline Road	Rialto, CA	—	12,513	16,377	185	12,513	16,562	29,075	(3,366)	2020	2020
12211 Greenstone Avenue	Santa Fe Springs, CA	—	15,729	1,636	46	15,729	1,682	17,411	(682)	N/A	2020
East 27th Street	Los Angeles, CA	—	40,332	21,842	9,072	40,332	30,914	71,246	(5,060)	1961 - 2004 / 2024	2020
2750 Alameda Street	Los Angeles, CA	—	24,644	5,771	2,284	24,644	8,055	32,699	(1,934)	1961 - 1980	2020
29010 Avenue Paine	Valencia, CA	—	7,401	8,168	1,790	7,401	9,958	17,359	(1,978)	2000	2020
29010 Commerce Center Drive	Valencia, CA	—	10,499	13,832	65	10,499	13,897	24,396	(2,803)	2002	2020
13369 Valley Blvd	Fontana, CA	—	9,675	10,393	1,023	9,675	11,416	21,091	(2,356)	2005	2020
6635 Caballero Blvd	Buena Park, CA	—	14,288	7,919	615	14,288	8,534	22,822	(1,753)	2003	2020
1235 South Lewis Street	Anaheim, CA	—	16,984	1,519	1,997	16,984	3,516	20,500	(792)	1956 / 2022	2020
15010 Don Julian Road	City of Industry, CA	—	24,017	—	41,944	24,017	41,944	65,961	(5)	1963 / 2025	2021
5002-5018 Lindsay Court	Chino, CA	—	6,996	5,658	1,925	6,996	7,583	14,579	(1,515)	1986	2021
514 East C Street	Los Angeles, CA	—	9,114	1,205	4	9,114	1,209	10,323	(342)	2019	2021
17907 Figueroa Street	Los Angeles, CA	—	18,065	1,829	19,898	18,065	21,727	39,792	(210)	1954 - 1960 / 2025	2021
7817 Woodley Avenue	Van Nuys, CA	2,609	5,496	4,615	208	5,496	4,823	10,319	(928)	1960	2021
8888-8992 Balboa Avenue	San Diego, CA	—	20,033	—	26,466	20,033	26,466	46,499	(1,241)	1967 / 2024	2021
9920-10020 Pioneer Blvd	Santa Fe Springs, CA	—	21,345	2,118	34,832	21,345	36,950	58,295	(1,734)	1973 - 1978 / 2024	2021
6655 East 26th Street	Commerce, CA	—	5,195	1,780	570	5,195	2,350	7,545	(491)	1965	2021
560 Main Street	Orange, CA	—	2,660	432	476	2,660	908	3,568	(237)	1973	2021
4225 Etiwanda Avenue	Jurupa Valley, CA	—	16,287	15,537	1,618	16,287	17,155	33,442	(3,268)	1998	2021
12118 Bloomfield Avenue	Santa Fe Springs, CA	—	16,809	—	24,484	16,809	24,484	41,293	(4)	1955 / 2025	2021
256 Alondra Blvd	Carson, CA	—	10,377	371	250	10,377	621	10,998	(285)	1954	2021

Initial Cost · Costs Capitalized Subsequent to Acquisition(1) · Gross Amounts at Which Carried at Close of Period
Property Address	Location	Encumbrances	Land	Building and Improvements	Building and Improvements	Land	Building & Improvements	Total	Accumulated Depreciation (2)	Year Build / Year Renovated	Year Acquired
19007 Reyes Avenue	Rancho Dominguez, CA	—	16,673	—	2,329	16,673	2,329	19,002	(312)	1969 / 2021	2021
19431 Santa Fe Avenue	Rancho Dominguez, CA	—	10,066	638	2,817	10,066	3,455	13,521	(438)	1963 / 2023	2021
4621 Guasti Road	Ontario, CA	—	8,198	5,231	507	8,198	5,738	13,936	(1,181)	1988	2021
12838 Saticoy Street	North Hollywood, CA	—	25,550	2,185	—	25,550	2,185	27,735	(777)	1954	2021
19951 Mariner Avenue	Torrance, CA	—	17,009	7,674	(2,373)	17,009	5,301	22,310	(825)	1986	2021
2425-2535 East 12th Street	Los Angeles, CA	—	48,409	40,756	10,655	48,409	51,411	99,820	(8,528)	1988	2021
29120 Commerce Center Drive	Valencia, CA	—	11,121	15,799	3,671	11,121	19,470	30,591	(3,196)	2002 / 2025	2021
20304 Alameda Street	Rancho Dominguez, CA	—	11,987	1,663	85	11,987	1,748	13,735	(478)	1974	2021
4181 Ruffin Road	San Diego, CA	—	30,395	3,530	1,498	30,395	5,028	35,423	(1,454)	1987	2021
12017 Greenstone Avenue	Santa Fe Springs, CA	—	13,408	205	4,422	13,408	4,627	18,035	(357)	n/a	2021
1901 Via Burton	Fullerton, CA	—	24,461	—	24,224	24,461	24,224	48,685	(1,348)	1960 / 2024	2021
1555 Cucamonga Avenue	Ontario, CA	—	20,153	2,134	343	20,153	2,477	22,630	(854)	1973	2021
1800 Lomita Blvd	Wilmington, CA	—	89,711	542	360	89,711	902	90,613	(442)	n/a	2021
8240 Haskell Avenue	Van Nuys, CA	—	4,822	3,682	—	4,822	3,682	8,504	(529)	1962 - 1964 / 2023	2021
3100 Lomita Blvd	Torrance, CA	—	124,313	65,282	(115)	124,313	65,167	189,480	(16,159)	1967 - 1998	2021
2401-2421 Glassell Street	Orange, CA	—	54,554	16,599	(2,825)	54,554	13,774	68,328	(2,386)	1987	2021
2390-2444 American Way	Orange, CA	—	17,214	—	21,734	17,214	21,734	38,948	(1,324)	2024	2021
500 Dupont Avenue	Ontario, CA	—	36,810	26,489	13,776	36,810	40,265	77,075	(2,771)	1987 / 2024	2021
1801 St Andrew Place	Santa Ana, CA	—	75,978	24,522	2,735	75,978	27,257	103,235	(7,225)	1987	2021
5772 Jurupa Street	Ontario, CA	—	36,590	20,010	55	36,590	20,065	56,655	(3,785)	1992	2021
2500 Victoria Street	Los Angeles, CA	—	232,902	—	—	232,902	—	232,902	—	n/a	2021
1010 Belmont Street	Ontario, CA	—	9,078	5,751	395	9,078	6,146	15,224	(1,050)	1987	2021
21515 Western Avenue	Torrance, CA	—	19,280	—	24,139	19,280	24,139	43,419	(150)	1991 / 2025	2021
12027 Greenstone Avenue	Santa Fe Springs, CA	—	8,952	469	726	8,952	1,195	10,147	(207)	1975	2021
6027 Eastern Avenue	Commerce, CA	—	23,494	—	28,110	23,494	28,110	51,604	(172)	1946 / 2025	2021
340-344 Bonnie Circle	Corona, CA	—	18,044	9,506	660	18,044	10,166	28,210	(1,783)	1994	2021

Initial Cost · Costs Capitalized Subsequent to Acquisition(1) · Gross Amounts at Which Carried at Close of Period
Property Address	Location	Encumbrances	Land	Building and Improvements	Building and Improvements	Land	Building & Improvements	Total	Accumulated Depreciation (2)	Year Build / Year Renovated	Year Acquired
14100 Vine Place	Cerritos, CA	—	40,458	8,660	3,947	40,458	12,607	53,065	(2,271)	1979 / 2022	2021
2280 Ward Avenue	Simi Valley, CA	—	23,301	24,832	1,193	23,301	26,025	49,326	(4,698)	1995	2021
20481 Crescent Bay Drive	Lake Forest, CA	—	16,164	6,054	3	16,164	6,057	22,221	(1,145)	1996	2021
334 El Encanto Road	City of Industry, CA	—	9,227	1,272	241	9,227	1,513	10,740	(348)	1960	2021
17031-17037 Green Drive	City of Industry, CA	—	10,781	3,302	851	10,781	4,153	14,934	(868)	1968 / 2024	2021
13512 Marlay Avenue	Fontana, CA	—	37,018	15,365	218	37,018	15,583	52,601	(2,941)	1960	2021
14940 Proctor Road	City of Industry, CA	—	28,861	—	25,409	28,861	25,409	54,270	(9)	1962	2021
2800 Casitas Avenue	Los Angeles, CA	—	33,154	10,833	9,887	33,154	20,720	53,874	(2,303)	1999 / 2023	2021
4240 190th Street	Torrance, CA	—	67,982	9,882	212	67,982	10,094	78,076	(2,049)	1966	2021
2391-2393 Bateman Avenue	Irwindale, CA	—	13,363	9,811	112	13,363	9,923	23,286	(1,562)	2005	2021
1168 Sherborn Street	Corona, CA	—	13,747	9,796	7	13,747	9,803	23,550	(1,555)	2004	2021
3071 Coronado Street	Anaheim, CA	—	29,862	—	17,759	29,862	17,759	47,621	(1,383)	1973 / 2024	2021
8911 Aviation Blvd	Los Angeles, CA	—	27,138	4,780	643	27,138	5,423	32,561	(1,113)	1971	2021
1020 Bixby Drive	City of Industry, CA	—	10,067	6,046	3,264	10,067	9,310	19,377	(907)	1977 / 2024	2021
444 Quay Avenue	Los Angeles, CA	—	10,926	—	9,931	10,926	9,931	20,857	(831)	1992 / 2024	2022
18455 Figueroa Street	Los Angeles, CA	—	57,186	7,420	(29,706)	31,275	3,625	34,900	—	1978	2022
24903 Avenue Kearny	Santa Clarita, CA	—	22,468	34,074	325	22,468	34,399	56,867	(5,345)	1988	2022
19475 Gramercy Place	Torrance, CA	—	9,753	1,678	1,733	9,753	3,411	13,164	(555)	1982 / 2022	2022
14005 Live Oak Avenue	Irwindale, CA	—	20,387	4,324	(10,211)	12,432	2,068	14,500	—	1992	2022
13700-13738 Slover Avenue	Fontana, CA	—	14,457	—	18	13,779	696	14,475	—	1982	2022
Meggitt Simi Valley	Simi Valley, CA	—	32,102	26,338	—	32,102	26,338	58,440	(4,195)	1984 / 2005	2022
21415-21605 Plummer Street	Chatsworth, CA	—	33,119	4,724	1,623	33,119	6,347	39,466	(1,572)	1986	2022
1501-1545 Rio Vista Avenue	Los Angeles, CA	—	16,138	11,951	874	16,138	12,825	28,963	(2,121)	2003	2022
17011-17027 Central Avenue	Carson, CA	—	22,235	8,241	—	22,235	8,241	30,476	(1,278)	1979	2022
2843 Benet Road	Oceanside, CA	—	3,459	11,559	—	3,459	11,559	15,018	(1,662)	1987	2022
14243 Bessemer Street	Van Nuys, CA	—	5,229	1,807	—	5,229	1,807	7,036	(292)	1987	2022
2970 East 50th Street	Vernon, CA	—	—	6,082	—	—	6,082	6,082	(921)	1949	2022

Initial Cost · Costs Capitalized Subsequent to Acquisition(1) · Gross Amounts at Which Carried at Close of Period
Property Address	Location	Encumbrances	Land	Building and Improvements	Building and Improvements	Land	Building & Improvements	Total	Accumulated Depreciation (2)	Year Build / Year Renovated	Year Acquired
19900 Plummer Street	Chatsworth, CA	—	13,845	890	16,852	13,845	17,742	31,587	(2)	1983 / 2025	2022
Long Beach Business Park	Long Beach, CA	—	21,664	2,960	1,325	21,664	4,285	25,949	(929)	1973 - 1976	2022
13711 Freeway Drive	Santa Fe Springs, CA	—	34,175	892	(16,717)	16,498	1,852	18,350	—	1963	2022
6245 Providence Way	Eastvale, CA	—	6,075	3,777	145	6,075	3,922	9,997	(648)	2018	2022
7815 Van Nuys Blvd	Panorama City, CA	—	19,837	6,450	110	19,837	6,560	26,397	(40)	1960	2022
13535 Larwin Circle	Santa Fe Springs, CA	—	14,580	2,750	101	14,580	2,851	17,431	(533)	1987	2022
1154 Holt Blvd	Ontario, CA	—	7,222	7,009	19	7,222	7,028	14,250	(991)	2021	2022
900-920 Allen Avenue	Glendale, CA	—	20,499	6,176	250	20,499	6,426	26,925	(1,109)	1942 - 1995	2022
1550-1600 Champagne Avenue	Ontario, CA	—	29,768	19,702	1,102	29,768	20,804	50,572	(3,042)	1989	2022
10131 Banana Avenue	Fontana, CA	—	25,795	1,248	607	25,795	1,855	27,650	(548)	n/a	2022
2020 Central Avenue	Compton, CA	—	11,402	676	52	11,402	728	12,130	(240)	1972	2022
14200-14220 Arminta Street	Panorama, CA	—	50,184	33,691	30	50,184	33,721	83,905	(4,915)	2006	2022
1172 Holt Blvd	Ontario, CA	—	9,439	8,504	90	9,439	8,594	18,033	(1,249)	2021	2022
1500 Raymond Avenue	Fullerton, CA	—	46,117	—	32,152	46,117	32,152	78,269	—	2025	2022
2400 Marine Avenue	Redondo Beach, CA	—	21,686	7,290	526	21,686	7,816	29,502	(1,255)	1964	2022
14434-14527 San Pedro Street	Los Angeles, CA	—	50,239	1,985	21,825	50,239	23,810	74,049	(107)	1971 / 2025	2022
20900 Normandie Avenue	Torrance, CA	—	26,136	13,942	2,290	26,136	16,232	42,368	(2,154)	2001	2022
15771 Red Hill Avenue	Tustin, CA	—	31,853	8,431	897	31,853	9,328	41,181	(2,103)	1979 / 2016	2022
14350 Arminta Street	Panorama City, CA	—	5,715	2,880	793	5,715	3,673	9,388	(437)	2006	2022
29125 Avenue Paine	Valencia, CA	—	20,388	24,125	4,901	20,388	29,026	49,414	(3,823)	2006 / 2025	2022
3935-3949 Heritage Oak Court	Simi Valley, CA	—	23,693	33,149	6,213	23,693	39,362	63,055	(4,773)	1999 / 2025	2022
620 Anaheim Street	Los Angeles, CA	—	15,550	2,230	736	15,550	2,966	18,516	(467)	1984	2022
400 Rosecrans Avenue	Gardena, CA	—	8,642	—	439	8,642	439	9,081	—	1967	2022
3547-3555 Voyager Street	Torrance, CA	—	19,809	924	9,359	19,809	10,283	30,092	(48)	1986	2022
6996-7044 Bandini Blvd	Commerce, CA	—	39,403	1,574	—	39,403	1,574	40,977	(356)	1968	2022
4325 Etiwanda Avenue	Jurupa Valley, CA	—	31,286	18,730	3,077	31,286	21,807	53,093	(2,696)	1998	2022
Merge-West	Eastvale, CA	—	251,443	206,055	1,674	251,443	207,729	459,172	(27,943)	2022	2022
6000-6052 & 6027-6029 Bandini Blvd	Commerce, CA	—	69,162	25,490	754	69,162	26,244	95,406	(3,938)	2016	2022

Initial Cost · Costs Capitalized Subsequent to Acquisition(1) · Gross Amounts at Which Carried at Close of Period
Property Address · Location · Encumbrances · Land · Building and Improvements · Building and Improvements · Land · Building & Improvements · Total · Accumulated Depreciation (2) · Year Build / Year Renovated · Year Acquired
3901 Via Oro Avenue	Long Beach, CA	—		18,519	953	(9,222)	9,360	890	10,250	—	1983	2022
15650 Don Julian Road	City of Industry, CA	—		9,867	5,818	824	9,867	6,642	16,509	(929)	2003	2022
15700 Don Julian Road	City of Industry, CA	—		10,252	5,996	574	10,252	6,570	16,822	(949)	2001	2022
17000 Gale Avenue	City of Industry, CA	—		7,190	4,929	609	7,190	5,538	12,728	(808)	2008	2022
17909 & 17929 Susana Road	Compton, CA	—		26,786	—	1,744	26,786	1,744	28,530	(3)	1970 - 1973	2022
2880 Ana Street	Rancho Dominguez, CA	—		34,987	—	6,720	34,987	6,720	41,707	(385)	1970 / 2024	2022
920 Pacific Coast Highway	Wilmington, CA	—		80,121	21,516	282	80,121	21,798	101,919	(2,863)	1954	2022
21022 & 21034 Figueroa Street	Carson, CA	—		15,551	8,871	1,149	15,551	10,020	25,571	(1,248)	2002	2022
13301 Main Street	Los Angeles, CA	—		40,434	11,915	14	40,434	11,929	52,363	(1,578)	1989	2022
20851 Currier Road	City of Industry, CA	—	(3)	12,549	9,471	2,667	12,549	12,138	24,687	(1,251)	1999 / 2023	2022
3131 Harcourt Street & 18031 Susana Road	Compton, CA	—		26,268	1,419	11,886	26,268	13,305	39,573	(143)	1970 / 2025	2022
14400 Figueroa Street	Los Angeles, CA	—		43,929	6,011	9,729	43,929	15,740	59,669	(84)	1967	2022
2130-2140 Del Amo Blvd	Carson, CA	—		35,494	5,246	1,206	35,494	6,452	41,946	(934)	1980	2022
19145 Gramercy Place	Torrance, CA	—		32,965	5,894	—	32,965	5,894	38,859	(1,131)	1977	2022
20455 Reeves Avenue	Carson, CA	—		40,291	6,050	419	40,291	6,469	46,760	(971)	1982	2022
14874 Jurupa Avenue	Fontana, CA	—		29,738	29,627	23	29,738	29,650	59,388	(3,417)	2019	2022
10660 Mulberry Avenue	Fontana, CA	—		8,744	3,024	469	8,744	3,493	12,237	(476)	1990	2022
755 Trademark Circle	Corona, CA	—		5,685	4,910	20	5,685	4,930	10,615	(600)	2001	2022
4500 Azusa Canyon Road	Irwindale, CA	—		35,173	4,991	738	35,173	5,729	40,902	(923)	1950	2022
7817 Haskell Avenue	Van Nuys, CA	—		10,565	976	46	10,565	1,022	11,587	(255)	1960	2022
16752 Armstrong Avenue	Irvine, CA	—		29,662	8,699	60	29,662	8,759	38,421	(2,188)	1970/2012	2023
10545 Production Avenue	Fontana, CA	—		215,378	149,927	99	215,378	150,026	365,404	(17,299)	2006	2023
3520 Challenger Street	Torrance, CA	—		11,616	1,859	8	11,616	1,867	13,483	(669)	1990	2023
9000 Airport Blvd	Los Angeles, CA	—		139,564	4,976	2,882	139,564	7,858	147,422	(1,306)	1981	2023
9223 Balboa Avenue	San Diego, CA	—		50,919	97,621	9	50,919	97,630	148,549	(10,438)	2020	2023
9323 Balboa Avenue	San Diego, CA	—		27,254	—	2,167	27,254	2,167	29,421	(23)	1978-1980	2023
4285 Ponderosa Avenue	San Diego, CA	—		16,495	8,207	7	16,495	8,214	24,709	(981)	1969	2023

Initial Cost · Costs Capitalized Subsequent to Acquisition(1) · Gross Amounts at Which Carried at Close of Period
Property Address	Location	Encumbrances	Land	Building and Improvements	Building and Improvements	Land	Building & Improvements	Total	Accumulated Depreciation (2)	Year Build / Year Renovated	Year Acquired
13925 Benson Avenue	Chino, CA	—	26,442	1,446	1,070	26,442	2,516	28,958	(319)	1989	2023
19301 Santa Fe Avenue	Rancho Dominguez, CA	—	14,899	—	7,124	14,899	7,124	22,023	(1)	1954 / 1989, 2025	2023
2395-2399 Bateman Avenue	Irwindale, CA	—	28,663	12,964	4,707	28,663	17,671	46,334	(1,838)	2022	2023
27712 & 27756 Avenue Mentry	Santa Clarita, CA	—	20,084	36,540	24	20,084	36,564	56,648	(3,414)	1988	2023
422 Rosecrans Avenue	Gardena, CA	—	3,067	—	—	3,067	—	3,067	—	1968	2023
14650 Hoover Street	Westminster, CA	—	13,814	8,721	880	13,814	9,601	23,415	(881)	2001	2023
5630 Cerritos Avenue	Cypress, CA	—	16,635	6,103	4	16,635	6,107	22,742	(663)	1989	2023
9400-9500 Santa Fe Springs Road	Santa Fe Springs, CA	—	132,157	67,189	1,608	132,157	68,797	200,954	(6,667)	1980/1990	2023
2500 Thompson Street	Long Beach, CA	—	19,567	5,268	16	19,567	5,284	24,851	(622)	1970	2023
15801 West 1st Street	Irwindale, CA	—	142,497	31,453	—	142,497	31,453	173,950	(3,489)	1977/1980	2023
600-708 Vermont Avenue	Anaheim, CA	—	57,394	—	(16,394)	39,988	1,012	41,000	—	1960	2023
11234 Rush Street	South El Monte, CA	—	12,737	—	18,024	12,737	18,024	30,761	—	1960	2023
5000 & 5010 Azusa Canyon Rd	Irwindale, CA	—	44,779	34,691	284	44,779	34,975	79,754	(2,790)	2022	2024
9028 Dice Road	Santa Fe Springs, CA	—	40,265	7,629	4	40,265	7,633	47,898	(696)	1978	2024
1217 Saint Gertrude Place	Santa Ana, CA	—	21,996	3,423	4	21,996	3,427	25,423	(414)	1961	2024
9140 Lurline Avenue	Chatsworth, CA	—	34,508	10,743	4	34,508	10,747	45,255	(952)	1974	2024
1500 Walnut Avenue	Fullerton, CA	—	28,672	17,014	(192)	28,672	16,822	45,494	(1,175)	2022	2024
4141 Palm Street	Fullerton, CA	—	19,494	2,563	379	19,494	2,942	22,436	(336)	1981	2024
14407 Alondra Blvd	La Mirada, CA	—	44,554	27,470	213	44,554	27,683	72,237	(2,041)	1976	2024
7149 Fair Avenue	North Hollywood, CA	—	7,420	2,706	279	7,420	2,985	10,405	(235)	1969	2024
7119 Fair Avenue	North Hollywood, CA	—	3,846	2,350	121	3,846	2,471	6,317	(176)	1969	2024
7118 Fair Avenue	North Hollywood, CA	—	3,779	2,626	16	3,779	2,642	6,421	(198)	1969	2024
7103 Fair Avenue	North Hollywood, CA	—	3,513	1,610	407	3,513	2,017	5,530	(131)	1969	2024
7101 Fair Avenue	North Hollywood, CA	—	6,655	3,319	62	6,655	3,381	10,036	(257)	1969	2024

Initial Cost · Costs Capitalized Subsequent to Acquisition(1) · Gross Amounts at Which Carried at Close of Period
Property Address	Location	Encumbrances	Land	Building and Improvements	Building and Improvements	Land	Building & Improvements	Total	Accumulated Depreciation (2)	Year Build / Year Renovated	Year Acquired
7100 Fair Avenue	North Hollywood, CA	—	3,864	1,488	—	3,864	1,488	5,352	(127)	1969	2024
11166 Gault Street	North Hollywood, CA	—	3,967	1,845	689	3,967	2,534	6,501	(165)	1970	2024
11150 Gault Way	North Hollywood, CA	—	3,807	2,212	1,006	3,807	3,218	7,025	(175)	1970	2024
11128 Gault Street	North Hollywood, CA	—	6,657	2,754	14	6,657	2,768	9,425	(232)	1970	2024
7100 Case Avenue	North Hollywood, CA	—	6,753	4,030	98	6,753	4,128	10,881	(308)	1970	2024
7121 Case Avenue	North Hollywood, CA	—	3,768	2,171	32	3,768	2,203	5,971	(166)	1969	2024
11120 Sherman Way	Sun Valley, CA	—	6,100	2,582	4	6,100	2,586	8,686	(218)	1970	2024
11130 Sherman Way	Sun Valley, CA	—	5,125	1,953	5	5,125	1,958	7,083	(168)	1969	2024
11156 Sherman Way	Sun Valley, CA	—	5,865	2,216	34	5,865	2,250	8,115	(193)	1969	2024
7101 Case Avenue	North Hollywood, CA	—	4,012	1,334	1,486	4,012	2,820	6,832	(120)	1969	2024
25172 Arctic Ocean Drive	Lake Forest, CA	—	12,744	2,227	217	12,744	2,444	15,188	(236)	1998	2024
20512 Crescent Bay	Lake Forest, CA	—	7,140	1,723	204	7,140	1,927	9,067	(175)	1998	2024
20492 Crescent Bay	Lake Forest, CA	—	11,561	2,819	1,227	11,561	4,046	15,607	(270)	1998	2024
20472 Crescent Bay	Lake Forest, CA	—	7,640	1,929	250	7,640	2,179	9,819	(196)	1998	2024
20532 Crescent Bay	Lake Forest, CA	—	5,991	1,102	169	5,991	1,271	7,262	(146)	1998	2024
1212 Howell Avenue	Anaheim, CA	—	6,503	1,119	120	6,503	1,239	7,742	(112)	1992	2024
1222 Howell Avenue	Anaheim, CA	—	20,529	4,781	689	20,529	5,470	25,999	(445)	1968	2024
200 Boysenberry Lane	Placentia, CA	—	52,847	8,160	3	52,847	8,163	61,010	(775)	1985	2024
10712-10748 Bloomfield Avenue	Santa Fe Springs, CA	—	16,882	3,754	326	16,882	4,080	20,962	(405)	1990	2024
12932-12958 Midway Place	Cerritos, CA	—	35,276	15,012	139	35,276	15,151	50,427	(1,223)	1980	2024
2910 Pacific Commerce Drive East	Rancho Dominguez, CA	—	40,056	6,333	47	40,056	6,380	46,436	(631)	1985	2024

Initial Cost · Costs Capitalized Subsequent to Acquisition(1) · Gross Amounts at Which Carried at Close of Period
Property Address	Location	Encumbrances	Land	Building and Improvements	Building and Improvements	Land	Building & Improvements	Total	Accumulated Depreciation (2)	Year Build / Year Renovated	Year Acquired
1715 West 132nd Street	Gardena, CA	—	4,677	727	946	4,677	1,673	6,350	(85)	1971	2024
4115 Schaefer Avenue	Chino, CA	—	5,150	3,200	74	5,150	3,274	8,424	(267)	2001	2024
437 Baldwin Park Blvd	La Puente, CA	—	13,507	6,283	11	13,507	6,294	19,801	(500)	1977	2024
433 Baldwin Park Blvd	La Puente, CA	—	19,230	8,341	31	19,230	8,372	27,602	(673)	1977	2024
421 Baldwin Park Blvd	La Puente, CA	—	8,648	2,758	128	8,648	2,886	11,534	(238)	1977	2024
17705-17709 Valley Blvd	City of Industry, CA	—	6,981	3,152	266	6,981	3,418	10,399	(238)	1985	2024
630-634 Hambledon Avenue	City of Industry, CA	—	8,254	3,808	283	8,254	4,091	12,345	(302)	1985	2024
620-628 Hambledon Avenue	City of Industry, CA	—	8,523	3,830	438	8,523	4,268	12,791	(320)	1985	2024
17755 Valley Blvd	City of Industry, CA	—	6,544	3,193	945	6,544	4,138	10,682	(300)	1985	2024
17745-17749 Valley Blvd	City of Industry, CA	—	7,820	1,833	828	7,820	2,661	10,481	(265)	1985	2024
14680-14700 Alondra Blvd	La Mirada, CA	—	25,484	8,160	14	25,484	8,174	33,658	(666)	1977	2024
14720-14750 Alondra Blvd	La Mirada, CA	—	26,285	10,224	18	26,285	10,242	36,527	(810)	1977	2024
14730-14750 Northam Street	La Mirada, CA	—	17,860	6,754	20	17,860	6,774	24,634	(545)	1977	2024
14725 Northam Street	La Mirada, CA	—	20,039	8,182	161	20,039	8,343	28,382	(647)	1978	2024
14647-14667 Northam Street	La Mirada, CA	—	35,429	19,776	2,455	35,429	22,231	57,660	(1,412)	1978	2024
14710 Northam Street	La Mirada, CA	—	11,706	2,822	1	11,706	2,823	14,529	(224)	1979	2024
4422 Airport Drive	Ontario, CA	—	14,507	9,868	628	14,507	10,496	25,003	(763)	1978	2024
1901 Rosslynn Avenue	Fullerton, CA	—	57,830	30,705	8	57,830	30,713	88,543	(2,225)	1989	2024
16203-16233 Arrow Highway	Irwindale, CA	—	20,253	24,912	(52)	20,253	24,860	45,113	(3,425)	2022	2024
950 West 190th Street	Los Angeles, CA	—	41,757	—	1,339	41,757	1,339	43,096	(9)	1980	2024
12900 Alondra Blvd	Cerritos, CA	—	14,581	4,414	11	14,581	4,425	19,006	(282)	1977	2024
13201 Dahlia Street	Fontana, CA	—	39,792	28,135	1,516	39,792	29,651	69,443	(1,556)	1989	2024
2501 Rosecrans Avenue	Compton, CA	—	79,265	50,632	1,373	79,265	52,005	131,270	(2,163)	1987	2024
Investments in real estate		$43,649	$7,772,975	$3,879,275	$1,364,391	$7,689,921	$5,326,720	$13,016,641	$(1,165,792)

Note: As of December 31, 2025, the aggregate cost for federal income tax purposes of our investments in real estate was approximately $12.4 billion.

(1)“Costs capitalized subsequent to acquisition” reflects capital expenditures, development costs, impairment write-downs, and write-offs of fully depreciated assets.

(2)The depreciable life for buildings and improvements typically ranges from 10-30 years for buildings,5-25 years for site improvements, and the shorter of the estimated useful life or respective lease term for tenant improvements.

(3)As of December 31, 2025, thesesix properties secure the $60 Million Term Loan.

(4)Safari Business Park consists of 16 buildings with the following addresses: 1845, 1885, 1901-1957 and 2037-2077 Vineyard Avenue; 1906-1946 and 2048-2058 Cedar Street; 1900-1956, 1901-1907, 1911-1951, 2010-2020 and 2030-2071 Lynx Place; 1810, 1840-1898, 1910-1960 and 2030-2050 Carlos Avenue; 2010-2057 and 2060-2084 Francis Street.

The following tables reconcile the historical cost of total real estate held for investment and accumulated depreciation from January 1, 2023 to December 31, 2025 (in thousands):

	Year Ended December 31,
Total Real Estate Held for Investment	2025	2024	2023
Balance, beginning of year	$12,956,316	$11,156,394	$9,470,387
Acquisition of investment in real estate	—	1,450,087	1,419,817
Construction costs and improvements	304,927	386,501	293,850
Disposition of investment in real estate	(119,201)	(25,975)	(11,360)
Impairment of real estate	(89,097)	—	—
Impairment-related reduction of investment in real estate cost	(5,389)	—	—
Write-off of fully depreciated assets	(30,915)	(10,691)	(16,300)
Balance, end of year	$13,016,641	$12,956,316	$11,156,394

	Year Ended December 31,
Accumulated Depreciation	2025	2024	2023
Balance, beginning of year	$(977,133)	$(782,461)	$(614,332)
Depreciation of investment in real estate	(243,095)	(208,372)	(187,722)
Disposition of investment in real estate	18,132	3,009	3,293
Impairment-related adjustment to accumulated depreciation	5,389	—	—
Write-off of fully depreciated assets	30,915	10,691	16,300
Balance, end of year	$(1,165,792)	$(977,133)	$(782,461)

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.