BLP Exceeds Portfolio Leasing Projections
We’re pleased to announce that BLP has outperformed proforma base rent pricing by 15% and successfully leased more than 25% of its owned portfolio four months ahead of schedule.
Many investors will be seeking opportunities for predictable cash flow as we enter a period of economic instability. We believe our accelerated leasing timeline and rent premium further reinforce BLP as a compelling option for these investors—particularly as the industrial logistics sector continues to exhibit the strongest fundamentals of any commercial real estate asset class.
See our latest press release for more details on our recent leasing success.
Thank you again for being part of our network, and Happy Holidays!
DEAL NEWS
LAND ACQUIRED: 92.5 AC in Williamson County (Austin, TX) to Develop 7 Building Business Park
BLP is excited to announce the acquisition of 92.5-acres of land in Georgetown, TX. At full build-out, the project will include 5 rear-load and 2 cross-dock buildings totaling 1,094,640 sf in a corporate business park setting featuring amenities such as walking trails, an outdoor pavilion and pickleball courts. Phase I is expected to break ground in 4Q 2023, with the entire project delivering in 4Q 2025.
Thank you to brokers Stefan Galagaza and David Claros with Dosch Marshall RealEstate for their assistance in closing this transaction.
For leasing inquiries, please reach out to Chris Todd and Scott Perkins of NAI Hanson or Hank Klehm of BLP.
Leasing News
13984 Orange Avenue, Los Angeles
BLP is pleased to announce the acquisition of 13984 Orange Ave, a 42,010-sf building, bordering the South Bay and Mid-Counties submarkets of Los Angeles. The freestanding building which features 4 loading positions, 22’ warehouse clear height, and 100’ truck court is strategically located at the intersection of the I-710 and I-105 freeway, offering direct access to the Ports of LA and Long Beach (10-miles south).
Thank you to brokers Chris Ehrlick and John Biven with CBRE for their assistance inclosing this transaction.
Upcoming Insights
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E-commerce: Full Steam Ahead
Record-setting online purchases on Black Friday offer more proof that e-commerce is still growing.
Non-Store Sales
Non-store sales, driven by online shopping, remains significantly above pre-pandemic levels.
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Bridge Logistics Properties, 1501 Quail Street, Suite 110, Newport Beach, CA 92660, United States