January 27, 2023

INDUS Realty Trust, Inc. (Nasdaq: INDT) (“INDUS” or the “Company”), a US-based industrial/logistics REIT, announced that it has completed previously announced acquisitions of land in the Orlando, Florida and Lehigh Valley, Pennsylvania markets. The company used cash to complete the acquisitions.

The acquisition of the title in good standing in the Orlando, Florida market (the “Orlando Land”) totals approximately 75 acres and is intended to support the future development of three industrial/logistics buildings totaling approximately 574,000 square feet. Orlando Land was purchased for $17.4 million.

The acquisition of the title in entitlement in Markt Lehigh Valley, Pennsylvania (the “Lehigh Valley Land”) totals approximately 11 acres and is intended to support the future development of an 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 contains “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 but not limited to 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 Orlando Land and Lehigh Valley Land. Although INDUS believes that its plans, intentions and expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such plans, intentions or expectations will be achieved. The forward-looking information disclosed herein is based on assumptions and estimates that, while believed to be reasonable by INDUS as of the date of this disclosure, are inherently subject to significant business, economic, competitive and regulatory uncertainties and contingencies, many of which are beyond INDUS’ control . and which could cause actual results and events to differ materially from those expressed or implied by the forward-looking statements. Other important factors that could affect the outcome of the events discussed in these statements are described in INDUS’ filings with the Securities and Exchange Commission (“SEC”), 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 statement to reflect developments after the date of this press release, except as required by law.


View source version on businesswire.com: https://www.businesswire.com/news/home/20230125005555/en/


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