According to CBRE vice chairman Barbara Emmons, SoCal is on the must buy list for institutions across the US as one of the top industrial markets, and the Ports are a massive driver of that. "Even though you might have to dip down to a fairly low cap rate to buy core product" here, you feel that over time it's going to be a safe bet.
In addition, Barbara says the growth of Internet sales is having a positive effect because more warehousing is needed, and people are looking for industrial sites near UPS and FedEx stations. With next-day delivery, you're going to see infill locations as well as locations farther out, "where the lighter-weight products can get shipped more easily."