PLYM - Plymouth Industrial REIT reports Q3 leases of 2.6M sq. ft.

• Plymouth Industrial REIT's ( NYSE: PLYM ) Q3 leases stood at 2.6M sq. ft. in aggregate.
• The leases, associated with terms of at least six months, included 1.5M sq. ft. of renewal leases and 1.1M sq. ft. of new leases.
• PLYM said there was an increase of 17.6% in rental rates, on a cash basis, from these leases.
• As of Sep. 30, the total portfolio was 98.8% occupied.
• Additionally, the company signed an additional 2.3M sq. ft. of leases that will commence during the balance of 2022, with an expected 17.9% increase in rental rates on a cash basis.
• Separately, Plymouth closed the acquisition of a 197,518-sq. -ft. single-tenant industrial building in Cleveland, Ohio during Q3 for $16.5M.
• The amount represents $83.54 per sq. ft. at a projected initial yield of 6.3%.
• The company plans to issue its earnings release on Nov. 3.
• Source: Press Release

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