Industrial Logistics Properties Trust (ILPT) is a real estate investment trust (REIT) that specializes in the ownership and leasing of industrial and logistics properties throughout the United States. The company's business model is centered on acquiring, developing, and managing properties that support e-commerce, manufacturing, and supply chain networks, such as warehouses and distribution centers. As of late 2025, ILPT's extensive geographic footprint includes over 400 properties encompassing nearly 60 million rentable square feet across 39 states. A distinctive aspect of ILPT's portfolio is its significant presence in Hawaii, where it holds secure land leases that contribute substantially to its revenue base. The company generates income primarily through long-term lease agreements, with over 75% of its annualized rental revenues derived from investment-grade tenants, subsidiaries of investment-grade entities, or its Hawaii land leases. ILPT is externally managed by The RMR Group, a leading alternative asset management company, which oversees its day-to-day operations, asset management, and property management functions. The company's competitive position is bolstered by its focus on high-quality, strategically located logistics assets that cater to the growing demand for efficient distribution space driven by e-commerce and supply chain modernization.
