Total transaction activity of $15.5 billion in 2022
Achieved 63.5 percent quarterly blended cash leasing spreads, a record for third consecutive quarter
Executed 18.5 million square feet of leasing in the fourth quarter, reflecting strong demand for infill locations
New York – January 30, 2023 – Link Logistics (“Link” or the “Company”), a leading national last-mile logistics real estate company designed to meet the needs of the modern supply chain, today provided an update on the Company’s fourth quarter and full year 2022 activity. The Company owns, has interests in or has under development properties that, upon completion, will represent a total of 545 million square feet. Link’s operating portfolio is 97.3 percent leased on a same store basis, compared to 97.7 percent from the year-ago quarter. The Company executed 18.5 million square feet of leasing during the quarter, bringing its full-year leasing total to 78.5 million square feet. Additionally, Link generated record blended cash leasing spreads of 63.5 percent in the fourth quarter, up from 33.4 percent in the same quarter the prior year.
“Despite the evolving macro environment, I am confident that the Link portfolio is well-positioned for growth given the solid logistics industry fundamentals and our infill-focused portfolio,” said Luke J. Petherbridge, Link’s chief executive officer. “We are redefining logistics real estate with a world-class team focused on executing our unique customer-centric approach, as well as our sustainability- and community-focused initiatives.”
Nicholas L. Pell, Link’s president and chief investment officer, added, “Demand for high-quality, well-located last-mile logistics real estate remains strong, with robust leasing activity and vacancies near historic lows. I am pleased with our significant success in this environment as we expand and develop the portfolio by leveraging our proprietary data and insights.”
Full-Year 2022 Capital Deployment and Notable Activity
Fourth Quarter 2022 Capital Deployment and Notable Activity
Full-Year 2022 Sustainability Highlights
About Link Logistics
Link Logistics is the largest U.S.-only owner and operator of last-mile industrial real estate. The Company, established in 2019 by Blackstone, operates the largest portfolio of logistics real estate assets located exclusively in the U.S. As of June 30, 2023, Link Logistics owns, has interests in, or has under development logistics facilities across key distribution markets in the U.S. that will represent a total of 535 million square feet when completed and serves more than 10,000 customers. Link Logistics has the scale, geographic footprint and logistics expertise, as well as a heightened focus on sustainability, to drive value for our customers and stakeholders. For more information regarding the Company, please visit www.linklogistics.com.