Jeff Witherell, Chairman and Chief Executive Officer of Plymouth Industrial REIT, noted, “We are making great progress on our objectives with over 88% of lease expirations already addressed for 2023, and we are well ahead of expectations on the 2024 lease expirations. Strategic utilization of our ATM program and visibility into near-term, one-off dispositions allowed us to announce the redemption of our remaining preferred stock. This redemption, along with strong organic growth and contributions from the development program, improve the balance sheet. With an estimated rental rate mark-to-market of 18% to 20% across our portfolio, continued rent growth in our markets, and strong operating fundamentals, we are well positioned to continue delivering organic growth.”
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