INDUS Completes Sale of Office/Flex Portfolio for $11.0 Million
December 05 2022 - 5:00PM
Business Wire
INDUS Realty Trust, Inc. (Nasdaq: INDT) (“INDUS” or the
“Company”) a U.S.-based industrial/logistics REIT, announced
that the Company has completed the sale of its office/flex
portfolio, including a small storage building used in the
operations of the portfolio (the “Office/Flex Portfolio”), for a
sale price of $11.0 million.
The Office/Flex Portfolio was comprised of eight buildings
totaling 194,000 square feet located in Bloomfield, Connecticut,
and has been recorded in the Company’s discontinued operations
since the beginning of the year. With the disposition of the
Office/Flex Portfolio, INDUS is now a pure-play
industrial/logistics real estate business with a modern portfolio
located in select high-growth markets.
About INDUS
INDUS is a real estate business principally engaged in
developing, acquiring, managing, and leasing industrial/logistics
properties. INDUS owns 42 industrial/logistics buildings
aggregating approximately 6.1 million square feet in Connecticut,
Pennsylvania, North Carolina, South Carolina, and Florida.
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’ beliefs
and expectations regarding future events or conditions including,
without limitation, statements regarding INDUS’ strategy as a
pure-play industrial/logistics business focused on high-growth
markets. 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’ Securities and Exchange Commission (“SEC”)
filings, including the “Business,” “Risk Factors” and
“Forward-Looking Statements” sections in INDUS’ Annual Report on
Form 10-K for the year ended December 31, 2021, filed with the SEC
on March 11, 2022, as updated by other filings with the SEC. 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20221205005189/en/
INDUS REALTY TRUST, INC.
Ashley Pizzo Vice President, Capital Markets &
IR (212) 218-7914 apizzo@indusrt.com
Jon Clark Executive Vice President, Chief Financial
Officer (860) 286-2419 jclark@indusrt.com
INDUS Realty (NASDAQ:INDT)
Historical Stock Chart
From May 2024 to Jun 2024
INDUS Realty (NASDAQ:INDT)
Historical Stock Chart
From Jun 2023 to Jun 2024