News | Jan. 24, 2022

Link Logistics Provides Fourth Quarter and Full Year 2021 Results

Total Transaction Activity of $22.4 Billion in 2021

Completed $16.0 Billion in Acquisitions Comprising 185.7 Million Square Feet

Executed 92 Million Square Feet of Leasing

New York – January 24, 2022 – Link Logistics Real Estate (“Link” or the “Company”), the operator and owner of the largest U.S.-only portfolio of logistics real estate, today provided an update on the Company’s fourth quarter and full year 2021 activity. The Company owns, has interests in, or has under development properties that upon completion will represent a total of 534 million square feet (more than 460 million square feet at pro rata share), which is 97.7 percent leased on a same store basis. The Company executed 92 million square feet of leasing during the year and expanded its development pipeline to $7.1 billion.

“2021 was a record year for Link as we strategically expanded our portfolio,” said Luke J. Petherbridge, Link’s Chief Executive Officer. “Approximately 4.5 percent of U.S. GDP passes through Link’s facilities, demonstrating our significant scale and reach. Throughout the year, our team made unprecedented progress, and we enter 2022 from a position of strength and with a continued commitment to helping our customers grow.”

Nicholas L. Pell, Link’s President and Chief Investment Officer, added, “Link successfully grew and strengthened our portfolio this past year by adding more than 900 high-quality assets in the most dynamic logistics markets in the U.S. Looking ahead, we will continue to leverage our national scale and local market expertise to secure compelling investment and development opportunities.”

Capital Deployment and Notable Activity for Full Year

  • Completed 73 acquisitions in 2021 for a total cost of $16.0 billion, adding 185.7 million square feet and 918 high-quality logistics facilities to Link’s portfolio in key U.S. distribution markets
  • Executed 43 dispositions in 2021 totaling $6.3 billion of gross proceeds across 57.2 million square feet

Capital Deployment and Notable Activity in the Fourth Quarter

  • Acquired 149.2 million square feet across 719 buildings in key markets for $11.5 billion
  • Sold 11.3 million square feet of assets totaling approximately $1.1 billion of gross proceeds
  • Increased development pipeline to $7.1 billion representing more than 40 million buildable square feet
  • Commenced construction on 5.1 million square feet of new development and redevelopment projects at an estimated cost of $681 million
  • Signed more than 500 new and renewal leases comprising 26 million square feet
  • Achieved record cash leasing spreads of 33 percent across the portfolio

Environmental, Social & Governance (ESG) 2021 Highlights

  • Launched inaugural ESG Report
  • Received a ‘B’ CDP score and 2-star GRESB performance, both of which significantly exceed average first-year rankings
  • Installed 57 megawatts (MW) of rooftop solar
  • Formalized Diversity, Equity & Inclusion (DEI) Program and DEI Committee
  • Raised $1.5 million through Link's partnership with CoreGiving™ in an effort to end childhood hunger
  • Set six leading public sustainability targets including carbon neutral operations by 2025 and 100 percent reliance on renewable energy by 2024


About Link Logistics

Link Logistics is the largest U.S.-only operator of last-mile industrial real estate. As of December 31, 2023, Link Logistics serves approximately 10,000 customers and owns, has interests in, or has under development logistics facilities that will represent a total of 539 million square feet across key U.S. distribution markets. Established by Blackstone in 2019, Link Logistics has the scale, footprint and proprietary insights, as well as a focus on sustainability, to drive value for our customers and stakeholders. For more information regarding the Company, please visit


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