Local sharpshooting expertise and successful redevelopment execution. In 2014, we acquired 24105 Frampton Avenue, a 49,000 square foot industrial building located in Torrance in the South Bay submarket, for $3.9 million or $82 per square foot. For this off-market acquisition, we were able to capitalize on our local connections as the seller was a non-professional real estate owner. We completed major renovations and modernization to the warehouse, office and exteriors. We leased the building to a single tenant for 11 years and achieved a stabilized yield of 7.0%.