Link Logistics Provides Update on First Quarter 2021 Activity
Signed Leases Representing Over 20 Million Square Feet
Portfolio Comprises More than 420 Million Square Feet of High-Quality Logistics Real Estate in Key Distribution Markets
Link Logistics Real Estate (“Link”), a Blackstone portfolio company and leading operator of the largest portfolio of high-quality logistics real estate assets located exclusively in the U.S., today provided an update on the Company’s first quarter 2021 leasing and investment activity. The Company grew its portfolio in high-growth distribution markets during the quarter, which now comprises more than 420 million square feet.
“We started 2021 on a strong note, continuing our positive momentum as we further expand our portfolio of high quality last-mile logistics,” said Link’s Chief Executive Officer, Luke Petherbridge. “As the e-commerce market continues to accelerate, our scale, geographic footprint and logistics expertise remain key differentiators. We are well-positioned to support our customers with the innovative and sustainable solutions they need to meet the quickly changing consumption and distribution patterns of tomorrow.”
Nicholas Pell, Link’s President and Chief Investment Officer, added, “We continue to see attractive capital deployment opportunities across the country, and we remain focused on infill locations in coastal cities and high-population growth areas where we can leverage our local expertise.”
“We started 2021 on a strong note, continuing our positive momentum as we further expand our portfolio of high quality last-mile logistics.”
Notable Acquisitions and Development projects
- Acquired a 60% interest in two last-mile focused portfolios primarily in California and Seattle with a total gross value of $1.6 billion
- Acquired 10.3 million square feet across 33 high-quality warehouses located in key markets for $994 million
- 14.5 million square feet of total development projects representing $1.9 billion of investment are currently underway, predominantly concentrated in California, New Jersey, Seattle and South Florida
- Commenced construction on 885,000 square feet of new development and redevelopment projects at a cost of $141 million
Additional Portfolio Activity
- Signed 530 new and renewal leases representing more than 20 million square feet
- Gained more than 150 new customers, increasing the Company’s total to more than 6,400 customers
- Sold 3.3 million square feet of assets totaling approximately $360 million
- Announced a partnership with the U.S. Green Building Council and a new environmental commitment that all new developments will be certified under the LEED (Leadership in Energy and Environmental Design) v4 Core and Shell framework
About Link Logistics
Link Logistics is a leading operator of last-mile industrial real estate and warehouse properties. Established by Blackstone in 2019, Link Logistics supports the delivery of essential goods through a half-billion-square-foot portfolio of modern warehouses across the U.S. By connecting consumption, technology and e-commerce, we play a vital role in how businesses reach their customers. We leverage our scale, proprietary data, and focus on sustainability and power to help customers run smarter operations and deliver value for stakeholders. At the same time, we prioritize our people and communities, making a positive difference where we live and work. For more information, please visit www.linklogistics.com.
Contact:
Melissa Sachs
Link Logistics
FGS Global
