Jeff Witherell, co-founder and CEO of Plymouth Industrial REIT, Inc. (NYSE: PLYM), participated in a video interview during Nareit’s REITworld: 2023 Annual Conference held Nov. 14-16 in Los Angeles.
Witherell said Plymouth Industrial REIT is well-positioned to cope with ongoing market financing challenges due to its leverage profile.
“Through the use of interest rate swaps…over 90% of our debt is fixed for the next two years,” he said.
Witherell said he sees the “U.S. manufacturing revival,” which includes re-shoring, on-shoring, and near-shoring, being the greatest potential for growth atPlymouth for the next 5-10 years or longer. He said it will take place in the Golden Triangle, which is a triangular area between Chicago, Texas, and Florida, where 90% of the company’s properties are located.
Witherell added that the two topics that are coming up frequently with investors include Plymouth’s leverage and the U.S. manufacturing revival.