Plymouth Industrial Boosts Growth With Healthy Leasing Activity in Q1

Core Insights - Plymouth Industrial REIT (PLYM) reported strong leasing activity and strategic portfolio expansion in Q1 2025, addressing 56.3% of its lease expirations for the year [1][4] Leasing Activity - In Q1 2025, leases commenced totaled 2,437,267 square feet, with 1,540,756 square feet from renewals and 896,511 square feet from new leases, reflecting a 9.6% increase in rental rates on a cash basis [2] - Executed leases for 2025 amounted to 4,652,684 square feet, with 3,731,230 square feet from renewals and 921,454 square feet from new leases, showing a 12.1% increase in rental rates on a cash basis [4] Portfolio Occupancy - As of March 31, 2025, total portfolio occupancy was 94.3%, with positive contributions from various leases and a same-store occupancy of 94.7% [3] Strategic Acquisitions - Plymouth expanded its portfolio by acquiring six industrial buildings for $65.1 million, achieving a weighted average initial estimated net operating income (NOI) yield of 6.8% and enhancing its presence in high-demand markets [5] Future Outlook - The company is positioned for long-term benefits due to healthy leasing activity and strategic acquisitions, with upcoming earnings release on May 1 and a conference call on May 2 for further insights [6]