INDUS Completes Acquisitions of Land for Future Development
January 25 2023 - 5:00PM
Business Wire
INDUS Realty Trust, Inc. (Nasdaq: INDT) (“INDUS” or the
“Company”), a U.S. based industrial/logistics REIT, announced
that it has completed the previously disclosed acquisitions of land
parcels in the Orlando, Florida and Lehigh Valley, Pennsylvania
markets. The Company used cash on hand to complete the
acquisitions.
The acquisition of the fully entitled land parcel in the
Orlando, Florida market (the “Orlando Land”) totals approximately
75 acres and is expected to support the future development of three
industrial/logistics buildings totaling approximately 574,000
square feet. The Orlando Land was purchased for $17.4 million.
The acquisition of the fully entitled land parcel in the Lehigh
Valley, Pennsylvania market (the “Lehigh Valley Land”) totals
approximately 11 acres and is expected to support the future
development of one industrial/logistics building totaling
approximately 90,000 square feet. The Lehigh Valley Land was
purchased for $2.3 million.
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 the potential development
capacity of the Orlando Land and the Lehigh Valley Land, and the
timing, completion and/or stabilization of the potential
developments on the Orlando Land and the Lehigh Valley Land.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230125005555/en/
Ashley Pizzo Vice President, Capital Markets &
Investor Relations (212) 218-7914
apizzo@indusrt.com
Jon Clark Executive Vice President, Chief Financial
Officer (860) 286-2419 jclark@indusrt.com
INDUS Realty (NASDAQ:INDT)
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