Link Logistics Provides Update on Second Quarter 2021 Activity
Record Leasing Activity of 23 Million Square Feet
Significant Capital Deployment Activity; Increased Development Pipeline to $4.0 billion
NEW YORK – August 10, 2021 – Link Logistics Real Estate (“Link” or the “Company”), 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 second quarter 2021 leasing and investment activity. During the quarter, the Company grew its portfolio in high-growth distribution markets to more than 429 million square feet, which is over 95% occupied on a same store basis.
“Link’s footprint, scale and expertise have positioned our portfolio to benefit from historically strong fundamentals, resulting in record leasing and capital deployment during the quarter” said Link’s Chief Executive Officer, Luke Petherbridge. “We remain devoted to our culture of partnering with customers to improve their efficiencies through sustainable, cutting-edge approaches, tailored to address rapidly evolving consumption and logistics challenges.”
Nicholas Pell, Link’s President and Chief Investment Officer, added, “Our capital deployment strategy remains focused on the highest growth and most dynamic markets in the U.S., capitalizing on our national scale and local expertise to identify and secure the most compelling investment opportunities.”
Acquisitions and Development in Second Quarter
- Acquired 6.6 million square feet across 52 high-quality facilities in key markets, for $918.0 million
- Current development pipeline of 14.1 million square feet representing $2.0 billion of investment, concentrated in Southern California, New Jersey, South Florida, Dallas and Seattle
Additional Portfolio Activity in Second Quarter
- Record leasing volume of 580 new and renewal leases representing approximately 23 million square feet
- Sold 10.4 million square feet of assets totaling approximately $1.2 billion
- Gained more than 100 new customers, increasing the Company’s total to more than 6,500 customers
- 2021 Green Lease Leader (Gold recognition) by the Institute of Market Transformation; one of 21 landlords across all asset classes
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
