LXP Industrial Trust Announces $175 Million Sale of Development Projects in Central Florida and Indianapolis Markets

Core Viewpoint - LXP Industrial Trust has successfully sold two vacant development projects for a total of $175 million, reflecting a strong market position in Class A warehouse and distribution real estate investments [1][2]. Group 1: Transaction Details - The sale includes two properties located in Ocala, Florida, and Indianapolis, Indiana, totaling 2,138,640 square feet [1]. - The gross sale price represents a 20% premium, or $29 million, over the gross book value of the properties as of June 30, 2025 [2]. - LXP expects to receive net proceeds of approximately $151 million after accounting for minority partner distributions and transaction costs [2]. Group 2: Use of Proceeds - The net proceeds from the sale will be allocated for debt repayment and other general corporate purposes [2]. Group 3: Company Overview - LXP Industrial Trust is a publicly traded REIT focused on Class A warehouse and distribution investments across 12 target markets in the Sunbelt and lower Midwest [3]. - The company aims to expand its portfolio through various strategies, including acquisitions, build-to-suit transactions, sale-leaseback transactions, and development projects [3].