INDUS Announces Completion of Acquisition and Development in Charlotte
October 18 2021 - 5:00PM
INDUS Realty Trust, Inc. (Nasdaq: INDT) (“INDUS”),
a U.S. based industrial/logistics REIT, announced today that it has
completed the acquisition of a fully leased, approximately 128,000
square foot industrial/logistics building in Charlotte, North
Carolina (the “Charlotte Acquisition”). The Charlotte Acquisition
is well-located in one of Charlotte’s premier submarkets that has
significant barriers to entry for new supply. The Company used cash
on hand to pay the $14.6 million purchase price, which equates to
an in-place cash capitalization rate of approximately 4.6%.
Additionally, INDUS announced that it has
completed and placed in service its approximately 141,000 square
foot build-to-suit for Amazon in Charlotte (the “Charlotte
Build-to-Suit”). With the addition of the Charlotte Acquisition and
completion of the Charlotte Build-to-Suit, INDUS owns approximately
1.2 million square feet across six high quality
industrial/logistics buildings in the Charlotte market.
About INDUS
INDUS is a real estate business principally
engaged in developing, acquiring, managing and leasing
industrial/logistics properties. INDUS owns 45 buildings totaling
approximately 5.5 million square feet (including 35
industrial/logistics buildings aggregating approximately 5.1
million square feet) in Connecticut, Pennsylvania, North Carolina
and Florida in addition to over 3,100 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
relative desirability and barriers to entry in the submarket of the
Charlotte Acquisition. 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 SEC on February 18, 2021, and Quarterly Report on Form 10-Q for
the fiscal quarter ended June 30, 2021, filed with the SEC on
August 9, 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
GaliciExecutive Vice President, Chief Financial
Officer(860) 286-1307
agalici@indusrt.com
Ashley PizzoVice President, Capital
Markets & Investor Relations(212)
218-7914 apizzo@indusrt.com
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