Plymouth Industrial REIT is a full service, vertically integrated real estate investment company focused on the acquisition, ownership and management of single and multi-tenant industrial properties. Our mission is to provide tenants with cost effective space that is functional, flexible and safe.
The Golden Triangle region has become the epicenter for logistics infrastructure, as the strongest e-commerce, parcel delivery, logistics, and retail firms continue to expand throughout the region (Source: CCIM Institute)
We are very focused on our remaining leasing opportunities for 2024 and ensuring that we deliver on organic growth in 2025. The one-time impact from two tenants we were forced to evict weighed heavily on same-store NOI, occupancy and earnings this quarter. With remediation and leasing plans in place on these assets, along with 76% of our 2024 lease expirations and 43% of our 2025 expirations already addressed, we expect to exit 2024 with the right velocity.
We are excited to enter into this partnership with Sixth Street and grow the platform for the benefit of all shareholders. By teaming up with Sixth Street, we are able to access a significant amount of capital to fuel accretive growth while keeping us within our stated leverage boundaries for 2024. With this investment, we are well positioned for the balance of 2024 and 2025 as we face an evolving market with increasingly interesting opportunities.
“In the highly competitive commercial real estate market, Plymouth REIT has continued to demonstrate their commitment to long-term strategic partnerships with their tenants. As a rapidly growing company, Plymouth REIT has been crucial to our success by allowing us to continue to expand within their portfolio. These expansions have allowed our company to better serve our customers through additional warehouse space. Additionally, while other companies have shied away from making significant improvements to facilities and grounds; Plymouth REIT has invested in their properties and there by elevating our appearance as well. We value the partnership that Plymouth REIT has brought to our company and to our continued success.”
- Jay Bean, JET Sales Solutions
“Being a part of the Shadeland Commerce Center industrial park and working with Plymouth REIT has been such a great fit for The Academy Volleyball Club. The building allows us plenty of space to run our events and training, while also housing our office staff and main operations. The location could not be better for us, allowing quick access from so many places throughout the greater Indianapolis area for our coaches and families.”
- Emily J. Hawthorne, Ohana Volleyball
“My experience with Plymouth has been nothing but exceptional. The attention received, response time and personal service stand out. Excellent.”
- Ken Longo, Terminix
“I had a pleasant experience in my recent negotiations with Plymouth on our new facility in St. Charles, IL. Communication was great, the terms fair for both parties, and their contributions above and beyond contractual build-out obligations were much appreciated. I would recommend Plymouth if they have a property that meets your needs.”
- Brian DePaul, Welding Material Sales
“Our organization has occupied the space at 3380/3400 Gilchrist Road for quite some time. As we’ve grown our needs for the property have changed and Lisa Trevino and her team were easy to work with to make that happen. Investment in the property to resolve issues and keep employees safe has never been an issue. Response time for problems is fast and efficient. The property is centrally located and close to the major highways, allowing access to a workforce from a wide geographic area.”
- Jodi Westphal, Western Shield Label and Packaging
“The opportunity to lease through Plymouth has provided us the opportunity to expand and grow into different segments as an automotive reconditioning company. Plymouth’s management has been a pleasure to work with and have had a positive influence for Recondition Pros. From the Reconditions team to Plymouth REIT team, we want to say thank you, and look forward to the continued partnership.”
- Devin Leas, Recondition Pros
“Chris and Cait are always accessible! They quickly reply and react to questions and service requests!!!!”
- Conduent Business Services
“We can't tell you how nice it has been to have Plymouth Industrial REIT as our new landlord. You have fixed old problems that you have inherited and you fix new problems as they arise in a timely manner. You keep the grounds well maintained and secure. Since you have become the landlord of the building we are in, we finally feel like we have a partner in our business as our landlord. We look forward to many more years of continued partnership. Thank you for all you do.”
- Kathy Mikkelson, Insight Print and Display
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Plymouth Industrial REIT is a full service, vertically integrated real estate investment company focused on the acquisition, ownership and management of single and multi-tenant industrial properties. Our mission is to provide tenants with cost effective space that is functional, flexible and safe.