Plymouth Industrial (PLYM) - Hoya Hotseat
Hoya Capital
Plymouth Industrial REIT (NYSE: PLYM) is a small-cap Industrial REIT with a portfolio of 158 properties comprising 35 million square feet. PLYM focuses on secondary markets within the “Golden Triangle” - seven markets in the Midwest and Southeast United States - with 80% roughly of its portfolio rented to tenants under triple-net leases.
Plymouth owns a roughly 50/50 mix of single-tenant and multi-tenant properties, with roughly 60% classified as “distribution” warehouses and the other 40% being small-bay industrial or light manufacturing.
CEO Jeffrey Witherell joins the Hoya Hotseat to discuss the evolution of PLYM since its 2017 IPO, its strategic focus on shorter lease terms, the benefits of the REIT structure, and the key tailwinds and challenges shaping the future of the industrial property sector.