Stonemont Buys $1 Billion Link Logistics Portfolio as Data Economy Reshapes Warehouse Demand
Stonemont and PCCP bought a 38-building industrial portfolio from Blackstone’s Link Logistics for approximately $1 billion. The assets total 5.9 million square feet across Austin, central Florida, Dallas, Phoenix, and Charlotte. The buildings include bulk and light-industrial properties leased to long-term tenants. JPMorgan Chase and Wells Fargo financed the acquisition, with Eastdil Secured advising on debt.
Stonemont president Bryan Blasingame said the firm selected properties positioned for population growth, cross-border trade, and tenant demand. Link Logistics reported that roughly 15 percent of new U.S. leasing over the past nine months came from data center-related tenants. AI infrastructure expansion is driving warehouse absorption and pushing rents higher near large data center construction sites. Atlanta-based Stonemont manages $5.3 billion in assets and plans continued acquisitions alongside its development pipeline.
Blackstone emphasized its conviction in logistics despite offloading the portfolio, citing limited vacancy and new construction starts down more than 60 percent from the 2022 peak. The firm owns nearly $80 billion in North American warehouses and $170 billion globally. The transaction shows how institutional owners are selectively harvesting gains while maintaining exposure to a sector increasingly tied to digital infrastructure demand. Stonemont and PCCP are betting that Sun Belt industrial markets will benefit from the convergence of e-commerce, nearshoring, and the buildout of power-hungry AI facilities.
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