INDT - INDUS Realty Trust acquires industrial/logistics building for $11.7M

INDUS Realty Trust (INDT) closed on the acquisition of a fully-leased 127,500 sq. ft. industrial/logistics building in the Lehigh Valley, Pennsylvania market for a purchase price of $11.7M.INDUS now owns ~1.4 million square feet across seven high quality industrial/logistics buildings in the Lehigh Valley.“We believe this acquisition provides the opportunity to create significant value over time as the current in-place rent is below market and the excess land on the site provides options for potential future improvements. The building complements our existing 1.3 million square foot Lehigh Valley portfolio and is located in the same corporate park as our Ambassador Drive building,” commented Michael Gamzon, President and CEO.

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INDUS Realty Trust acquires industrial/logistics building for $11.7M