Rent relief and deferral targets small tenants forced to close during the pandemic over larger tenants with access to the capital market.

Over the long-term coworking will still be around, says CEO Owen Thomas. "But in the short-term, it's challenged and clearly there is limited growth, probably contraction, among the co-working operators."

On Rexford Industrial's first quarter earnings call, leadership was bullish on the portfolio's strength to weather the COVID-19 storm.