BLP Bulletin - Q3 2025 Recap
- Bridge Logistics Properties
- Dec 2
- 5 min read
Updated: Dec 4
BLP’s Quarter in Review
“Market Fundamentals and Key Indicators”
In Q2, we noted an industrial market beginning to find its footing. Today, BLP sees market fundamentals and key leading indicators aligning at a pivotal inflection point. Q3 marked the re-emergence of tenant demand with net absorption rebounding to 21 MSF, a welcome reversal after Q2 posted the first quarter of negative net absorption in nearly 15 years.
On the supply side, conditions remain constructive: new deliveries are tracking toward their lowest levels since 2017, and quarterly construction starts are running 33% below the ten-year average. The demand side is similarly encouraging. Retail inventories sit near record lows, the Logistics Manager’s Index has entered an expansionary phase, and warehouse utilization rates are again approaching throughput constraints – this all despite considerable turbulence in U.S. policy-making. The onward march of the digitization of the economy continues with e-commerce remaining a key driver of demand. Further, as Torsten Sløk, Apollo Chief Economist, outlines in a recent note, government-directed initiatives to re-shore and expand domestic manufacturing capacity is providing uplift to logistics demand.
The Global Industrial Renaissance Continues
Dr. Torsten Sløk, Apollo Chief Economist
October 15, 2025
The US manufacturing cycle is gaining traction. With nearly 200 factory completions since mid-2023 and a $590 billion pipeline led by $5 billion-plus megaprojects, advanced manufacturing is set to be a durable growth engine for the US economy with positive spillovers to industrial real estate, private credit, and nationwide employment, see chart below.
PORTFOLIO UPDATE: ACQUISITIONS
150 Distribution Drive McDonough, GA
201 Greenwood Court, McDonough, GA
BLP acquired two Class A industrial assets totaling 1.56 MSF fully leased and positioned in one of the Southeast’s strongest logistics corridors.
Prime Location: I-75 S. corridor with same-day access to Atlanta’s CBD, Hartsfield-Jackson Airport, and the Port of Savannah
Tenant Profile: Fully leased to four creditworthy tenants
Market Context: Acquired amid tariff-driven dislocation, reflecting a disciplined investment in a resilient logistics corridor
Strategic Alignment: Strengthens BLP’s portfolio with stabilized, Class A assets in supply-constrained, high-demand gateway market
14928 Washington Dr., Fontana, CA
14019 Ross Ave., Fontana, CA
14074 Rancho Court, Fontana, CA
BLP acquired a newly constructed, three-building Class A portfolio totaling 332,793 SF in one of the nation’s premier logistics markets.
Prime Location: Positioned in the heart of Inland Empire West, providing access to major Southern California logistics routes
Tenant Profile: Fully leased with a 2.5-year WALT, providing stable cash flow through a period of macroeconomic volatility
Market Context: Acquired during the Liberation Day tariff roll-out, capturing high-quality assets at peak market dislocation
Strategic Alignment: Reinforces BLP’s investment focus on global gateway markets with dense populations, critical logistics infrastructure, and limited new supply
PORTFOLIO UPDATE: LEASES
 | 135 W 132nd Street, Los Angeles, CA 90061
Masa Trucking is a full-service transportation and logistics company providing dedicated trucking, drayage, and warehousing solutions throughout Southern California. This lease will allow Masa to strengthen and expand their operations across the region. |
 | 26601 79th Ave S., Kent, Washington 98032
SpeedX, a fast-growing last-mile delivery platform serving e-commerce and logistics clients across North America, operates in over 11,000 ZIP codes, reaching 175 million customers and handling up to 400,000 packages daily during peak seasons. |
 | 290 SW 14th Avenue, Pompano Beach, FL 33069
The lessee, Environmental Products Group, is a leading supplier of industrial and environmental equipment, offering sales, rentals, parts, and service solutions. |
 | 2750 & 2770 S Great Southwest Parkway Grand Prairie, TX 75052
Diligent Delivery Systems has been in business for 30 years and is a national transportation, shipping, and logistics service provider. Piedmont Plastics is a wholesale distributor of plastic sheet, rod, tube, and film products and has been in business for over 60 years. |
CONSTRUCTION UPDATES
Construction Update: 485 Elizabeth Avenue, Somerset, NJ
Groundbreaking: 2/2025
Current Progress: Roof Installation
Estimated Project Completion: Q1 2026
Elizabeth Avenue features a 76,230 SF Class A distribution facility located on a 7.5-acre site with 40’ clear heights, 10 dock-high doors, 1 drive-in door, and a 135’ concrete truck court.
Construction Update: Gateway @429, Orlando, FL
Groundbreaking: 7/2024
Current Progress: Near Completion
Estimated Project Completion: Q4 2025
Gateway @ 429 features building 100, a 220,329 SF Class A, rear-load warehouse, including a ±3,100 SF speculative office. The building features 62 dock-high doors, 2 dock-high drive-in doors, 32-foot clear heights, and ample car parking.
Construction Update: Aerotropolis East Logistics Center
Groundbreaking: 3/2025
Current Progress: Tilt Walls
Estimated Project Completion: Q1 2026
Aerotropolis East Logistics Center is a 229,776 SF Class A distribution facility in Atlanta, GA, strategically located in a federal approved Foreign Trade Zone two miles from Hartsfield-Jackson Atlanta International Airport. The development features 32' clear height, 42 dock-high doors, an 185' truck court, and ample car parking.
Construction Complete: Park South | GSW
Groundbreaking: 10/2024
Current Progress: Completed
Estimated Project Completion: Q3 2025
Park South| GSW features two Class A rear-load warehouse buildings totaling 284,865 square feet with each building including 43 dock-high doors, 2 grade-level doors/ramps, 24’ – 32’ clear height, 190’ shared truck court, ample car parking including EV charging stations, and spec office in place for immediate occupancy.
Construction Progress: Southeast Crossing
Groundbreaking: 1/2025
Current Progress: Roof Installation
Estimated Project Completion: Q1 2026
Southeast Crossing features 6 buildings ranging from 20,222 – 156,864 SF with 24-36’ clear heights, outstanding visibility, ample car parking and dock-high loading throughout.
Construction Progress: North Rialto Distribution Center
Groundbreaking: 2/2025
Current Progress: Roof Installation
Estimated Project Completion: Q1 2026
North Rialto Distribution Center features a 468,563 SF Class A single-load building with 42’ clear height, 62 dock-high doors, a 236’ fully secured concrete truck court, 188 trailer parking stalls, and 264 auto parking spaces.
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Bridge Investment Group Holdings LLC (together with its affiliates, “Bridge”) is providing these materials (the “Materials”) regarding Bridge’s Logistics Properties strategy and the type of transactions targeted on a confidential limited basis, to you (“Recipient”). The distribution to you of the Materials is made for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities in any vehicle managed by Bridge (“Fund”), including those managed by Bridge’s Logistics Properties strategy. Any such offer or solicitation of an offer will only be made pursuant to a Fund’s PPM. Statements contained herein are made as of Q3 2025 unless stated otherwise herein. The Materials are intended for authorized recipients only and must be held strictly confidential. No portion of the Materials may be forwarded, shared, reproduced, or distributed in any format without the express written approval of Bridge. This overview should not be regarded by the Recipient as a substitute for the exercise of their own judgment and the Recipient is expected to rely on their own due diligence if they wish to proceed further in investigating a potential investment in a Fund. This overview may contain forward-looking statements, including but not limited to targets, forecasts, estimates, opinions, and projections that involve elements of subjective judgment and analysis. These forward-looking statements are subject to various risks, and Bridge undertakes no obligation to update these forward-looking statements for events or circumstances that occur subsequent to such dates or to update or keep current any of the information contained herein. The Recipient should not construe the contents of this investment overview as legal, tax, accounting or investment advice or a recommendation. Bridge Logistics Properties Fund Manager LLC and Bridge Investment Group are trademarks of Bridge.
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