FuturePlace Interview Spotlight, Luke Petherbridge

Few sectors have witnessed a surge in activity quite like industrial property. The landscape has transformed significantly in recent years, making it a dynamic and ever-evolving space. As we navigate through these changes, new challenges and opportunities arise, all against the backdrop of rising interest rates and the pressing issue of limited industrial land availability nationwide. Link Logistics is the largest U.S.-only owner and operator of last-mile industrial real estate with a total of 533 million square feet in property. Their business is driven by e-commerce, along with the onshoring of manufacturing and the transition to clean energy.

We recently interviewed Luke Petherbridge, CEO of Link Logistics, USA about his perspectives on creating a competitive edge in last-mile logistics, market outlook, space optimisation, decarbonisation goals and more. Join Luke at the 4th annual Industial Real Estate Summit this October, where he will speak on creating the competitive edge in last-mile logistics and what’s next in space optimisation.

FuturePlace: Can you tell us about your role as CEO at Link Logistics and how you got there?

Luke Petherbridge: As CEO, I am responsible for setting Link Logistics’ strategic direction and generating value for our firm. My passion is working to build on our award-winning culture and speaking with our talented team members across the firm about their ideas to generate success for our business and our customers’ businesses as we continue to evolve. Before Link Logistics, I served as president and CEO of two other commercial real estate firms, ShopCore Properties and LivCor, which, like Link Logistics, are owned by Blackstone. I am a native Australian and moved to the U.S. 14 years ago. My family and I live in Chicago, a key logistics hub.

FuturePlace: Can you tell us about Link Logistics and its mission?

Luke Petherbridge: Link Logistics is a leading operator of last-mile logistics real estate. Established by Blackstone in 2019, the company connects consumption, technology and the supply chain across its portfolio, which spans over half a billion square feet. With more than five percent of U.S. GDP flowing through our spaces, we leverage our scale, proprietary data and insights, and foundational focus on sustainability to drive success for our customers’ businesses. At Link Logistics, we are on a mission to grow our customers’ businesses through a deep understanding of their logistics needs. We envision a transformed logistics real estate industry in which warehouse owners aren’t just landlords, but vital partners. These ideas drive our work every day.

FuturePlace: You’re speaking at the Industrial Real Estate Summit Australia about creating the competitive edge in last-mile logistics and what’s next in space optimisation. What are your perspectives in this area? 

Luke Petherbridge: At Link logistics, we have defined five competitive advantages for our firm that we believe will drive our long-term success:

1. Employee Experience: We inspire exceptional people to join and commit to our company, customers, communities and each other by focusing on talent management programs, learning and development opportunities, and competitive rewards packages.
2. Customer Experience: We deliver leading customer experience across our platform—from our digital customer platform Link+ to our colleagues in the field who are trusted partners to our customers.
3. Data: We leverage sophisticated research, proprietary data and innovative forecasting and reporting to drive industry-leading outcomes for the long term.
4. Sustainability: We aim to be at the forefront of sustainability with leading environmental, social and governance programs, initiatives and offerings.
5. Customer Innovation: We are focused on identifying and delivering on innovative business practices that will benefit our customers, from automation to energy transition.

In terms of space optimisation, we leverage our proprietary insights based on billions of data points and AI technology, combined with the support of our team members on the ground in markets across the U.S., to help our customers find the absolute best space to meet their business needs. Location is key for customers and our infill-focused portfolio provides them with space that is in the most desirable locations to optimise their supply chain.

“In terms of space optimisation, we leverage our proprietary insights based on billions of data points and AI technology, combined with the support of our team members on the ground in markets across the U.S., to help our customers find the absolute best space to meet their business needs.”

FuturePlace: What are your current decarbonisation goals and can you tell us about some of the things you’re doing to achieve these?

Luke Petherbridge: Sustainability is core to our identity at Link Logistics and is a focus for every department across the firm. Our sustainability program is designed to disrupt the status quo and accelerate decarbonisation through our focus on value-oriented, practical sustainability while helping our customers meet their sustainability goals. Our ambitious sustainability targets include achieving carbon neutral operations by 2025, installing LED or high-efficiency lighting across all Link Logistics properties and receiving LEED certification for all new Link Logistics developments. Last year, we launched our comprehensive energy and utilities management product, Energy Solutions, which transfers the management of utilities from our customers to Link Logistics’ in-house team of energy experts. A first-of-its kind program for our industry, Energy Solutions allows Link Logistics to achieve savings for our customers on their utility bills while providing opportunities to finance sustainable building upgrades and decrease energy use across our portfolio. It is a win-win for both Link Logistics and our customers.

FuturePlace: What’s the outlook for the broader Industrial and Logistics property sector for the coming year? 

Luke Petherbridge: While we have seen slightly longer timeframes from our customers around leasing decisions given the evolving macroeconomic environment, I am confident that the future is bright for industrial real estate in the coming year and beyond. We continue to benefit from ongoing positive fundamentals, including e-commerce and the onshoring of manufacturing. We also see long-term demand for space created by the clean energy transition from companies manufacturing electric vehicles and EV and solar batteries, among other green industries, as well as spillover space related to those companies’ supplier networks. 

“We also see long-term demand for space created by the clean energy transition from companies manufacturing electric vehicles and EV and solar batteries, among other green industries, as well as spillover space related to those companies’ supplier networks.”

FuturePlace: We understand you’re a big advocate of emotional intelligence. How do you think leaders with this attribute are better equipped to drive business success? 

Luke Petherbridge: Emotional intelligence (EQ) is crucial for leaders who aim to ensure their teams remain engaged, supported, acknowledged and understood, especially in challenging external situations. The nonprofit Mental Health America defines EQ as “the ability to manage both your own emotions and understand the emotions of people around you.”  

Since our founding five years ago, we have consistently prioritized EQ and use it to evaluate potential hires and promotions based largely on their ability to collaborate, manage their emotions and empathize with others. To lead with EQ, I focus on communicating transparently, conveying our higher purpose of helping our customers succeed and our connection to powering the U.S economy, and investing the time to build strong relationships.  

By focusing on emotional intelligence at Link Logistics, we create an environment that supports both individual growth and collective achievement.