INDUS Announces Closing on the Acquisition of a 395,000 Square Foot Industrial/Logistics Building in Charlotte, North Carolin...
June 28 2021 - 4:48PM
INDUS Realty Trust, Inc. (Nasdaq: INDT) (“INDUS” or the
“Company”), a U.S. based industrial/logistics REIT,
announced today that it has completed the acquisition of a recently
constructed, approximately 50% leased, 395,000 square foot
industrial/logistics building in Charlotte, North Carolina (the
“Charlotte Acquisition”). The Company used cash on hand to pay the
$42.0 million purchase price. The Charlotte Acquisition is located
in the Airport submarket of Charlotte and has excellent access to
both I-485 and I-85. The Charlotte Acquisition increases the
Company’s Charlotte industrial/logistics portfolio to approximately
1.0 million square feet, not including the approximately 141,000
square foot build-to-suit warehouse currently under construction
that is expected to be completed by September 30, 2021.
About INDUS
INDUS is a real estate business principally
engaged in developing, acquiring, managing and leasing
industrial/logistics properties. INDUS owns 42 buildings totaling
approximately 5.1 million square feet (including 32
industrial/logistics buildings aggregating approximately 4.7
million square feet) in Connecticut, Pennsylvania, North Carolina
and Florida in addition to over 3,400 acres of undeveloped
land.
Forward-Looking Statements:
This Press Release includes “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. These forward-looking statements include
INDUS’s beliefs and expectations regarding future events or
conditions including, without limitation, statements regarding the
expected completion date of the approximately 141,000 square foot
build-to-suit warehouse currently under construction in Charlotte,
North Carolina. Although INDUS believes that its plans, intentions
and expectations reflected in such forward-looking statements are
reasonable, it can give no assurance that such plans, intentions or
expectations will be achieved. The projected information disclosed
herein is based on assumptions and estimates that, while considered
reasonable by INDUS as of the date hereof, are inherently subject
to significant business, economic, competitive and regulatory
uncertainties and contingencies, many of which are beyond the
control of INDUS and which could cause actual results and events to
differ materially from those expressed or implied in the
forward-looking statements. Other important factors that could
affect the outcome of the events set forth in these statements are
described in INDUS’s Securities and Exchange Commission filings,
including the “Business,” “Risk Factors” and “Forward-Looking
Statements” sections in INDUS’s Annual Report on Form 10-K for the
fiscal year ended November 30, 2020, filed with the Securities and
Exchange Commission on February 18, 2021. INDUS disclaims any
obligation to update any forward-looking statements as a result of
developments occurring after the date of this press release except
as required by law.
CONTACT:Anthony
GaliciChief Financial
Officer(860) 286-1307
agalici@indusrt.com
Ashley PizzoDirector, IR & Capital
Markets(212) 218-7914
apizzo@indusrt.com
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