INDT - INDUS Realty Trust executes leases totaling ~418K sq. ft. in Q3
- Industrial/logistics REIT INDUS Realty Trust ( NASDAQ: INDT ) said it executed five leases totaling ~418K sq. ft. across the company's portfolio in Q3.
- The five leases are a 217K sq. ft. full building lease in Charlotte, North Carolina; a 143K sq. ft. of renewals across two leases in Hartford, Connecticut; a 34.5K sq. ft. first generation lease in the Lehigh Valley, Pennsylvania; and a 24K sq. ft. first generation in Orlando, Florida.
- Two development projects were completed in Hartford, Connecticut, and Orlando, Florida, totaling ~430K sq. ft.
- Additionally, the real estate investment trust acquired an ~7.6 acre parcel of land in Allentown, Pennsylvania, for $6.5M.
- The company said a 100% of its stabilized portfolio and a 97.6% of its in-service portfolio was leased as of Sep. 30.
- INDT repaid a $26.3M construction loan with cash on hand.
- An ~63K sq. ft. lease was signed at the two-building forward acquisition in Nashville, Tennessee. This lease brings the to-be-acquired Nashville portfolio to 77.2% pre-leased.
- The company's 42 buildings aggregated ~6.1M sq. ft. as of Sep. 30.
- Source: Press Release
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INDUS Realty Trust executes leases totaling ~418K sq. ft. in Q3