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Link Logistics Provides Q1 2022 Update

Development pipeline expanded to $9.0 billion

Execution of 18.3 million square feet of lease

NEW YORK, April 21, 2022–(BUSINESS WIRE)–Link Logistics Real Estate (“Link” or the “Company”), the operator and owner of the largest portfolio of logistics real estate in the United States, today provided an update on the business of the Company in the first quarter of 2022. The Company owns, has interests in, or has properties under development which, upon completion, will represent a total of 559 million square feet (488 million square feet prorated), which is leased to 98.0% on a same store basis. The company executed 18.3 million square feet of leases during the quarter and expanded its development pipeline to $9.0 billion from $7.1 billion at the end of 2021.

By the end of 2023, Link expects to deliver approximately 9 million square feet of environmentally friendly infill logistics real estate, located in key submarkets in Los Angeles, the Inland Empire, southern Florida and New Jersey. These properties will meet the increased demand for premier logistics facilities, creating additional supply and providing space for Link’s customers to grow their businesses.

“With over $1 trillion of US GDP flowing through Link’s buildings, we are able to see our customers’ supply chain needs in real time and respond to their changing business needs. said Luke J. Petherbridge, President and CEO of Link. “We are experiencing significant demand across all segments of our business and continue to benefit from strong underlying fundamentals, including the acceleration of e-commerce, the need to increase inventory and emerging long-term trends such as nearshoring. and onshoring.”

Nicholas L. Pell, President and Chief Investment Officer of Link, added, “During the quarter, we continued to acquire and develop high-quality facilities in last-mile infill locations. We remain focused on building a sustainable portfolio with leading technologies. state-of-the-art, LEED-certified facilities and leveraging data-driven solutions to identify locations to help our clients grow their businesses. »

Capital deployment and notable activity in the first quarter

  • Acquisition of 5.6 million square feet in 18 properties in key markets for $598.8 million

  • Sale of 7.6 million square feet of assets totaling approximately $1.1 billion in gross proceeds

  • Increased development pipeline to $9.0 billion representing 47.1 million buildable square feet

  • Signature of 465 new leases and lease renewals totaling 18.3 million square feet

  • Achieved robust leasing margins of 27% across the portfolio

First Quarter Environmental, Social and Governance (ESG) Highlights

  • Obtained ENERGY STAR® certifications for 29 Link properties – the most in the industrial sector

  • Launched Link’s energy and utility risk management program, which saved Link customers over $1.3 million in energy expenses during the quarter

  • Donated $500,000 to CoreGiving™ to fight child hunger and $100,000 to World Central Kitchen in response to the humanitarian crisis in Ukraine

  • Foundation of Link’s Community Grants Pilot Project, which will deploy $2 million in 2022 through tangible infrastructure grants to nonprofits where Link operates and invests

  • Created the Link Scholarship and Mentorship Program, which partners with various undergraduate real estate programs and will offer scholarships in 2022-2023

About Link Logistics

Link Logistics is a leading national owner of last mile logistics real estate designed to meet the needs of the modern supply chain. The company, created in 2019 by Blackstone, operates the largest portfolio of logistics real estate assets located exclusively in the United States and serves more than 7,000 customers. The Company owns, has interests in, or has logistics facilities under development in key U.S. distribution markets that will total 559 million square feet (488 million square feet prorated) upon completion. Link has the scale, geographic footprint and logistics expertise, along with an increased focus on sustainability to power the supply chain of tomorrow. For more information about the company, please visit www.linklogistics.com.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220421006105/en/

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