NEW YORK–(BUSINESS WIRE)–INDUS Realty Trust, Inc., 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.
- Website: indusrt.com/
