The big news of late for Rexford Industrial (NYSE: REXR) has been rent rollovers. The real estate investment trust (REIT) has warned that the back half of 2023 will be less exciting than the first half, and there are West Coast port union contracts to contend with, too. But so far, Rexford is executing at a high level relative to the West Coast region it serves. 

The backstory for Rexford is very attractive. While other warehouse REITs have worked to create geographically diversified portfolios, Rexford has gone the exact opposite direction and focused on one region it knows very well -- Southern California. This is a risk that shouldn't be ignored, since something hyper-specific to the region (like the aforementioned union contracts) could end up being a super-sized issue.

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Source Fool.com