We own well-located, flexibly designed industrial/logistics properties in markets that boast strong local and regional economies with growing populations. We seek opportunities for acquisitions and developments of mid-sized industrial/logistics buildings, generally between 75,000 and 500,000 square feet. Within the mid-sized property range, we seek buildings that are generally suitable for one to three tenants and that have market-appropriate features that we believe will appeal to the widest variety of tenants in the market.
We intend to expand strategically and selectively into new geographic markets as we increase our presence in the markets in which we operate today. We seek markets and/or submarkets that are supply-constrained or present significant barriers to entry and have a large and/or quickly growing population base and strong transportation infrastructure – whether that be roads, airports, rail or port access. Lastly, we seek to enter markets where we can acquire or develop several properties and achieve a critical mass of square footage.
INDUS traces its roots to the early 1900s when the Cullman family became tobacco traders and growers of cigar leaf tobacco in Connecticut River Valley near Hartford, CT.
In 1961 the Cullman family, led by Edgar Cullman, acquired a controlling interest in the publicly-traded General Cigar Company, one of the leading cigar manufacturers in the United States. Over time it included brands such as Macanudo, Partagas, White Owl and Garcia & Vega.
In 1967, General Cigar acquired the Connecticut wrapper tobacco growing business and nursery operation of American Sumatra Tobacco Corporation. As a result of this acquisition, General Cigar had over 6,000 acres of land, changed its name to Culbro Corporation, and started its real estate and land development operations under the name Culbro Land Resources.
In 1976, Culbro Land Resources completed construction of its first office building and, in 1978, developed its first industrial building. Culbro Land Resources also started entitlements and development of residential subdivisions in the Connecticut River Valley.
In 1997, Culbro split itself into two separate entities, General Cigar Holdings, a pure-play cigar company that subsequently was sold to Swedish Match, and the newly formed public company, Griffin Land & Nurseries, Inc. At the time, Griffin had 433,000 square feet of commercial/industrial properties and several thousand acres of mostly agricultural land.
Griffin Land & Nurseries completed the acquisition of its first industrial property outside of Connecticut with the purchase of a 120,000 square foot warehouse at 871 Nestle Way as well as 50 acres of land for industrial development in the Lehigh Valley of Pennsylvania.
In January 2014, Griffin Land & Nurseries sold its landscape nursery business, Imperial Nurseries.
Griffin Land & Nurseries, Inc. was renamed Griffin Industrial Realty, Inc. to reflect the company's focus on managing and growing its industrial/warehouse property portfolio.
Griffin expanded its real estate holdings into Charlotte by acquiring 215 International Drive, a 277,000 square foot warehouse building in Concord, NC. Griffin subsequently acquired the 22 acre parcel next to the facility for the construction of two industrial/warehouse buildings aggregating 283,000 square feet.
Griffin Industrial Realty expands its portfolio to Orlando, Florida with the acquisition of a 100,000 square foot industrial/warehouse building at 7466 Chancellor Drive.
Griffin Industrial Realty, Inc. converts to a Real Estate Investment Trust (“REIT”) and changes its name to INDUS Realty Trust, Inc. to best align its corporate structure and branding with the company’s focus on maximizing stockholder value and strategically expanding its logistics portfolio in select markets.
INDUS expands its portfolio into the Charleston and Greenville-Spartanburg South Carolina markets with acquisitions of two 197,000 and 250,000 square foot industrial/logistics buildings in Charleston and Summerville, SC and a 280,000 square foot industrial/logistics building in Duncan, South Carolina.
INDUS Realty Trust, Inc. is acquired in an all-cash transaction valued at $868 million by Centerbridge Partners, LP, a global private investment firm with deep experience in real estate, and GIC, a global institutional investor.
Executive Chairman
President & Chief Executive Officer
Executive Vice President, Chief Financial Officer
Senior Vice President, General Counsel & Secretary
Executive Vice President
Senior Vice President, Construction & Development
Vice President, Chief Accounting Officer
Vice President, Director of Property Management
Director of Treasury Operations and Insurance Management
Director of Acquisitions
Director of Acquisitions
Director of Acquisitions
Director of Acquisitions