Percentage Leased – Stabilized PropertiesĪs of June 30, 2022, INDUS’ only vacancy reflects approximately 34,000 square feet in the Lehigh Valley, Pennsylvania building that was developed and placed in service in the 2022 second quarter (see below section on “Development Pipeline”). INDUS’ portfolio percentage leased and percentage leased of stabilized properties were as follows: These leases are expected to commence in the third quarter of 2022.Īs of June 30, 2022, INDUS’ 39 buildings aggregated approximately 5.7 million square feet. The other lease is a five-year agreement for approximately 24,000 square feet at Landstar Logistics. The tenant had previously signed a lease for 156,000 square feet and in the 2022 second quarter opted to lease the remaining 78,000 square feet. One lease is for the expansion of a seven-year agreement with a leading global shipping and logistics company for the balance of 110 Tradeport Drive. In addition to the above leases signed during the period, INDUS also executed two first generation leases totaling approximately 102,000 square feet for projects currently in its development pipeline (see below section on “Development Pipeline”). INDUS reported the following second generation leasing metrics for the 2022 second quarter: Repaid four existing mortgages covering ten buildings with $60 million in proceeds from the Term Loan resulting in no fixed-rate debt maturities until 2027 Stabilized 2 portfolio was 100.0% leased as of Jtotal in-service portfolio was 99.4% leased as of June 30, 2022Īmended and restated the existing $100 million Credit Agreement to increase the size to $250 million with the addition of a new $150 million delayed draw term loan with a term of five years (the “Term Loan”) based industrial/logistics REIT, announced the following updates on leasing, its acquisition pipeline, development pipeline and corporate updates for the three months ended J(the “2022 second quarter”) 1:Ĭompleted the acquisition of a fully leased, approximately 205,000 square foot portfolio of last-mile facilities located in the Orlando and Palm Beach, Florida marketsĬompleted two leases of first generation space totaling approximately 102,000 square feet and two lease renewals totaling approximately 256,000 square feetĭeveloped and placed in service a 67% pre-leased, approximately 102,000 square foot building in Lehigh Valley, Pennsylvania (Nasdaq: INDT) (“INDUS” or the “Company”), a U.S. NEW YORK-( BUSINESS WIRE)- INDUS Realty Trust, Inc.

Stabilized noi calculation