NEW YORK–(BUSINESS WIRE)–Hyperlink Logistics (“Hyperlink” or the “Firm”), the biggest U.S.-only proprietor and operator of last-mile industrial actual property, at this time supplied an replace on the Firm’s second quarter 2023 exercise. The Firm owns, has pursuits in or has beneath improvement properties that upon completion will signify a complete of 535 million sq. toes. Hyperlink Logistics’ working portfolio is 96.4 % leased on a same-store foundation, and the Firm executed 13.3 million sq. toes of leasing in the course of the quarter on a same-store foundation. Moreover within the second quarter, Hyperlink Logistics generated blended money leasing spreads of 52 %.
“We proceed to see stable industrial actual property fundamentals as we achieved strong blended money leasing spreads, which had been up from 39 % in the identical quarter the prior yr,” stated Luke J. Petherbridge, chief government officer, Hyperlink Logistics. “Hyperlink Logistics sits on the intersection of consumption, know-how and the availability chain, and it’s our accountability and significant mission to function best-in-class house to assist drive productiveness and enterprise development throughout the financial system.”
Nicholas L. Pell, president and chief funding officer, Hyperlink Logistics, added, “We stay targeted on consistently upgrading our portfolio to incorporate distinctive infill actual property in high-growth distribution markets. We’re dedicated to producing worth for our stakeholders by leveraging our proprietary knowledge and insights.”
Second Quarter 2023 Notable Exercise
Signed a complete of 418 new and renewal leases comprising 13.3 million sq. toes on a same-store foundation
Acquired $629.1 million of latest belongings comprising 5.1 million sq. toes throughout 25 high-quality logistics services in key U.S. distribution markets
Executed 13 tendencies from the working portfolio totaling $4.0 billion of gross proceeds throughout 20.7 million sq. toes, together with the beforehand introduced $3.1 billion disposition to Prologis of practically 14 million sq. toes
Stabilized six developments throughout 5 markets, together with Atlanta, Dallas-Fort Value, Inland Empire, Sacramento and South Florida
20.4 million sq. toes at present beneath building throughout Hyperlink Logistics’ nationwide portfolio
Latest Sustainability Highlights
Accomplished LEED certification for seven developments up to now in 2023 with 52 developments in progress for LEED certification
Transformed 6.5 million sq. toes to LED or high-efficiency lighting up to now in 2023, and on monitor to fulfill the Firm’s goal of utilizing one hundred pc LED or high-efficiency lighting by 2025
Hosted the inaugural Hyperlink Logistics Vitality & Sustainability Summit, which introduced collectively clients and companions to share decarbonization finest practices and determine market alternatives
About Hyperlink Logistics
Hyperlink Logistics is the biggest U.S.-only proprietor and operator of last-mile industrial actual property. The Firm, established in 2019 by Blackstone, operates the biggest portfolio of logistics actual property belongings situated completely within the U.S. As of June 30, 2023, Hyperlink Logistics owns, has pursuits in, or has beneath improvement logistics services throughout key distribution markets within the U.S. that may signify a complete of 535 million sq. toes when accomplished and serves greater than 10,000 clients. Hyperlink Logistics has the dimensions, geographic footprint and logistics experience, in addition to a heightened deal with sustainability, to drive worth for our clients and stakeholders. For extra data concerning the Firm, please go to www.linklogistics.com.