Friends and colleagues,
I would like to start this month’s newsletter by offering a sincere thank you to everyone in our network. Many of you we have known and worked with for decades, others have only come into our circle in the past few years. We are grateful for every one of you. We may be in the real estate business, but in the end it’s the people that make it work.
Looking back on 2023, I am very pleased to say that BLP stayed disciplined at the most critical times. The market offered some very convincing “head fakes” mid-year that lured investors off the sidelines when the right move was almost certainly to let the dust settle before committing any major capital. I strongly believe that we read the market correctly, and that current capital market indicators and lower valuations are the reward for our patience.
The fact is, we’ve seen this movie before. We are blessed to have a disciplined leadership team at BLP that has already been through a very similar generational cycle shift. Having that lens of experience is priceless in times like these. With a proper understanding of the landscape and the right amount of discipline, the opportunities ahead are absolutely tremendous.
Anyone expressing any pessimism at all about Logistics is taking a far too limited and short-term view. We are still in the very early stages of the digital shift in our economy. Supply chains are rapidly modernizing and shifting globally, and warehouses are only just beginning their evolution into sustainable, smart, connected and grid independent buildings. This is a very exciting time to be in Logistics.
Again, I cannot stress enough how grateful we are for all of the talented and dedicated people we get to work with on a day to day basis. Thank you, and I wish you all a wonderful holiday season.
Jay Cornforth
Chief Executive Officer
BLP
Featured Availabilities
250 Circle Drive North, Piscataway, NJ 08854
Total Available: 59,572 SF
336 East D Street, Wilmington, CA 90744
Total Available: 38,038 SF of Land
Happy Holidays from BLP
As we gathered together to celebrate the holidays, we reflected on another great year in business with you by our side. Wishing you and your families some well-deserved rest, relaxation and joy!
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Bridge Logistics Properties, 1501 Quail Street, Suite 110, Newport Beach, CA 92660, United States