NEW YORK, July 08, 2021 (GLOBE NEWSWIRE) -- INDUS Realty Trust, Inc. (Nasdaq: INDT) (“INDUS” or the “Company”), a U.S. based industrial/logistics REIT, announced the following updates on leasing, its acquisition and development pipeline, its potential dispositions and other corporate matters for the three months ended June 30, 2021 (the “2021 second quarter”):
Highlights
Agreed to proposed terms and received commitments for a new secured revolving credit facility of up to $100 million, which is expected to close in the 2021 third quarter, subject to the completion of a definitive credit agreementAcquired two industrial/logistics buildings, one in Charlotte, North Carolina (395,000 square feet) and one in the Lehigh Valley of Pennsylvania (127,500 square feet), for a combined purchase price of $53.7 millionAcquired approximately 14 acres of undeveloped land in Orlando, Florida for $5.25million, upon which the Company plans to construct two industrial/logistics buildings totaling approximately 195,000 square feetEntered into an agreement to sell approximately 670 acres of land in Granby and East Granby, Connecticut that comprise the Connecticut Nursery Farm, for anticipated proceeds of $10.3 million, if consummatedClosed on the sale of an approximately 7,200 square foot office/flex property in Windsor, Connecticut, in addition to two small parcels of undeveloped land in separate transactionsThe in-service stabilized industrial/logistics portfolio1 was 99.4% leased as of June 30, 2021Leasing Activity
During the 2021 second quarter, INDUS executed one industrial/logistics lease totaling approximately 4,800 square feet at its recently renovated property located at 170 Sunport Lane in the Orlando market.