Link Logistics Provides Update on Full Year 2020 Activity
Signed Leases Representing Approximately 70 Million Square Feet
Portfolio Comprises More than 400 Million Square Feet of High-Quality Logistics Real Estate in Key Distribution Markets
Link Logistics Real Estate (“Link”), 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 full year 2020 leasing and investment activity. During the year, Link continued to build on and tailor its high-quality logistics real estate portfolio in key distribution markets, particularly strategic “last-mile” locations and in-fill industrial areas near large population and consumption centers throughout the U.S. The Company’s portfolio comprises more than 400 million square feet.
Full Year 2020 Portfolio Activity
- Signed leases representing approximately 70 million square feet
- Attained 650 new customers, increasing the Company’s total to more than 5,800 customers
- Acquired approximately 27 million square feet of new logistics assets totaling $2.9 billion
- $1 billion of assets in both the West and Central regions and $900 million of assets in the East region
- Acquired 1.9 million square feet of assets for development with $300 million of total expected investment of new development projects
- 10.8 million square feet of total projects representing $1.6 billion of investment are currently underway, predominantly concentrated in California, Seattle, Miami and New York Metro
- Sold 11.5 million square feet of assets totaling $970 million
“Link has built a portfolio of high-quality logistics real estate assets across the U.S. specifically designed to be at the forefront of today’s evolving supply chain”
“Link has built a portfolio of high-quality logistics real estate assets across the U.S. specifically designed to be at the forefront of today’s evolving supply chain,” said Link’s Chief Executive Officer, Luke Petherbridge. “We are seeing unprecedented growth in e-commerce coupled with a heightened focus on advanced technology and sustainability, creating a greater demand for Link’s real estate solutions to help our customers meet their supply chain needs.”
Mr. Petherbridge continued, “During the year, we continued to grow our portfolio through meaningful and value-enhancing acquisitions of high-quality assets in key geographies and enhanced our offering to customers through our development activity. This includes significant acquisitions and development in coastal locations with greater growth driven by strong supply fundamentals. We look forward to continuing to build on this momentum in 2021.”
2020 Notable Acquisitions and Development Projects
- Completed construction and leasing of 1.1 million square-foot development in Inland Empire West
- Broke ground on Pacific Gateway, an 824,000 square-foot multi-property development in Seattle, WA
- Commenced redevelopment of existing Link assets into new state of the art facilities totaling 3.6 million feet and representing $500 million of investment in California, Miami and New York Metro
Nicholas Pell, Link’s President and Chief Investment Officer, said, “We continue to see a robust pipeline of acquisition and development opportunities that enable us to capitalize on our operational expertise and local presence in all the major logistics markets.”
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
