Completed 86 million square feet of leasing in 2023, including more than 23 million square feet in the fourth quarter alone, highlighting steady demand for last-mile locations
New York – January 30, 2024 – Link Logistics (“Link” or the “Company”), a leading operator of the largest portfolio of logistics real estate assets located exclusively in the U.S., today provided an update on the Company’s fourth quarter and full year 2023 activity. The Company owns, has interests in or has under development properties that upon completion will represent a total of 539 million square feet. Link Logistics’ operating portfolio is 96.2 percent leased on a same-store basis. The Company executed 23.4 million square feet of leasing during the fourth quarter, up from 18.5 million square feet of leasing in the same quarter the prior year, bringing its full year leasing total to 86.0 million square feet. Additionally, Link Logistics generated quarterly blended cash leasing spreads of 55.6 percent during the fourth quarter.
“Our infill-focused portfolio strategy continued to yield strong results, powered by sustained e-commerce strength and onshoring tailwinds,” said Luke J. Petherbridge, chief executive officer, Link Logistics. “We are committed to investing in exceptional logistics real estate and remain focused on maximizing value for our customers. As we mark five years since our founding, I could not be prouder of our talented team and the scalable platform we have built, which position us well for future growth.”
Nicholas L. Pell, president and chief investment officer, Link Logistics, added, “During the fourth quarter and throughout 2023, we continued to enhance our portfolio to meet the long-term needs of our customers. Leveraging our proprietary data insights continues to allow us to see around the corner and capitalize on compelling opportunities that align with our strategic goals.”
Fourth Quarter 2023 Notable Activity
Full Year 2023 Notable Activity
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 www.linklogistics.com.