The company believes growth in e-commerce will compound with adoption of AI and agentic commerce.
“Industrial remains a core pillar of BREIT’s portfolio and continues to benefit from strong, durable demand tailwinds. Our industrial portfolio is focused on last-mile, infill locations near dense population centers which are benefiting from customer demand for faster e-commerce deliveries, and we believe growth in e-commerce will continue to compound with the adoption of AI and agentic commerce. We are also seeing spillover demand from ~$10T+ of new private and foreign investment announcements in the U.S., with manufacturing-related leasing up ~40% year-over-year. 26,27 These powerful tailwinds drove record leasing activity across our industrial portfolio in the fourth quarter of 2025, up +84% year-over-year. 28 With new construction starts at decade lows, we believe the sector is well-positioned for sustained rent growth ahead.”