Development Pipeline Increased to $5.6 Billion
Transaction Volume of $14.0 Billion Year to Date
New York – November 23, 2021 – Link Logistics Real Estate (“Link” or the “Company”), the leading operator of the largest portfolio of logistics real estate located exclusively in the U.S., today provided an update on the Company’s third quarter 2021 leasing and investment activity. During the quarter, the Company grew its portfolio to more than 440 million square feet in high-growth distribution markets, which is more than 97 percent leased on a same store basis. As of October 31, Link has closed on $8.2 billion of acquisitions and $5.8 billion of dispositions totaling $14.0 billion of transaction activity year to date.
“Our third quarter activity reflects Link’s strongest performance since its inception,” said Luke J. Petherbridge, Link’s Chief Executive Officer. “As fundamentals continue to accelerate, the Link team remains focused on expanding our footprint in key logistics markets, including infill, last-mile locations, as well as on partnering closely with our customers to solve their toughest distribution challenges. During the quarter, we achieved unprecedented leasing and capital deployment while striking a strategic balance between acquisitions and dispositions to build a portfolio that continues to meet the needs of the modern supply chain.”
In addition, Link reported a development pipeline of 30 million square feet representing $5.6 billion of investment, an increase from $4.0 billion of investment reported in the previous quarter. The Company will leverage this pipeline to further expand its scale in strategic and infill markets.
Matthew L. Ostrower, Link’s Chief Financial Officer, added, “This quarter, Link experienced record leasing spreads, NOI growth and development volumes. We continue to capitalize on strong fundamental tailwinds by focusing our expansion in dynamic, high-growth U.S. markets.”
Capital Deployment and Notable Activity in the Third Quarter
About Link Logistics
Link Logistics is the largest U.S.-only owner and operator of last-mile industrial real estate. As of September 30, 2023, Link Logistics serves more than 10,000 customers and owns, has interests in, or has under development logistics facilities that will represent a total of 538 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 heightened focus on sustainability, to drive value for our customers and stakeholders. For more information regarding the Company, please visit www.linklogistics.com.