We have an investment strategy focused on flexible and modern logistics buildings in select, high-growth markets. We target land for development or buildings that are well-located near major highways and transportation infrastructure with access to dense-population centers. We have a proven track record of developing on speculation as well as delivering build-to-suits on land we own or acquire.
Our development and construction work is managed by our in-house team, which ensures delivery of a quality product, on time, and at a favorable cost.
Our integrated property management team strives to exceed our tenants' expectations through proactive management, quick response, and a focus on reducing expenses. Our in-house leasing efforts provide prospective tenants with a streamlined process from initial inquiry through move-in.
Our major developments include our industrial parks, Carolina Tradeport I and II, New England Tradeport, and Lehigh Valley Tradeport I and II. We also have land available for development by us or others for industrial use.
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, FL with the purchase 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.
President & Chief Executive Officer
Mr. Gamzon joined the company in January 2008 as Executive Vice President. His experience includes corporate finance, strategy, private equity and public security investing. Prior to INDUS, he served as a senior analyst at both Alson Capital Partners, LLC, a New York investment firm, and at Cobalt Capital. He previously worked at SCP Private Equity Partners and at Donaldson Lufkin & Jenrette.
Mr. Gamzon received a B.A. from Yale University and an M.B.A. from the Harvard Business School.
Executive Vice President, Chief Financial Officer
Mr. Galici held the position of Vice President & CFO since July 1997 and was promoted to Executive Vice President in December 2020. Mr. Galici has oversight of INDUS's accounting, financial reporting, and treasury functions. Mr. Galici had been with Culbro Corporation ("Culbro") from 1985 to 1997, serving first as Director of Internal Audit and then as Vice President and Assistant Corporate Controller before joining INDUS at the time of the spin-off of Griffin from Culbro. Prior to Culbro, Mr. Galici was with Touche Ross & Co. (now Deloitte & Touche LLP).
Mr. Galici received a B.S. in Accounting from St. John's University. Mr. Galici is a Certified Public Accountant and a member of the American Institute of Certified Public Accountants.
Executive Vice President
Mr. Lescalleet joined the company in 2002 and has executive responsibility for the management of its portfolio, having 30+ years of experience in real estate development and management. Prior to INDUS, he was an EVP & Partner at The Codman Company, a Boston real estate company, and then prior the Managing Broker & Director of the Investment Properties Group at the Boston office of CB Commercial (now CBRE).
Mr. Lescalleet received a B.A. from the University of Vermont and a R.E. diploma from Boston University.
Senior Vice President, General Counsel & Secretary
Mr. Daniells joined INDUS in 2021, and oversees the company’s legal function. Mr. Daniells joined INDUS from Murtha Cullina LLP, where he served on the Executive Committee and chaired the firm’s Business and Finance Department. While at Murtha, he served as outside counsel to the company’s real estate business since INDUS became a public company in 1997, and over the course of his career he has advised numerous companies (both public and private) on a wide range of commercial and development transactions, governance, compliance and other legal matters. Prior to joining Murtha, Mr. Daniells owned a boutique real estate practice.
Mr. Daniells received a B.A. from Dartmouth College and a J.D. from Suffolk University School of Law.
Executive Vice President
Mr. Clark joined the company in September 2021 as Executive Vice President as part of the company’s succession plan for the Chief Financial Officer role. Prior to joining the company, Mr. Clark was the Chief Accounting Officer of Rockhill Management LLC, a Boston-based property management business. From March 2019 to March 2009, Mr. Clark was Chief Financial Officer and Treasurer of Gramercy Property Trust (“Gramercy”), a publicly traded real estate investment trust that owned industrial and office properties, acquired by Blackstone in late 2019. Mr. Clark was also Gramercy’s Corporate Controller from February 2009 to June 2007. Before Gramercy, Mr. Clark was a Director at BlackRock Financial Management where he managed the accounting and finance department for real estate debt products and served as Assistant Treasurer for Anthracite Capital, Inc., which was a publicly traded mortgage REIT that specialized in subordinate commercial mortgage-backed securities.
Mr. Clark received his Bachelor of Business Administration from Western Michigan University, a Masters in Accounting from the University of Massachusetts-Amherst and is a Certified Public Accountant.
Senior Vice President, Construction & Development
Mr. Bosco is responsible for all new construction and development as well as building and tenant improvements. He joined the company in 2005, after spending 14 years with CASLE Corporation as its construction project manager.
Mr. Bosco received dual B.S. degrees from the University of Maine and an MBA from the University of Hartford.
Vice President, Director of Property Management
Mr. Cocola joined the company in 2013. His career began at New Boston Management Services, Inc., where he opened its Hartford office in 1999 and managed its Greater Hartford and New Haven portfolio. He transitioned to KS Partners, LLC to continue managing a component of the portfolio upon its purchase.
Mr. Cocola holds a B.A. from Boston College and the Real Property Administrator (RPA) certification.
Vice President, Financial Reporting
Ms. Poudrette joined the company in 2003 and is responsible for INDUS's external financial reporting and the preparation of its SEC filings. Ms. Poudrette also manages the company's tax compliance requirements. She has over 25 years of experience in accounting and tax. Prior to INDUS, Ms. Poudrette was the Assistant Director of Indemnity Reporting at CIGNA.
Ms. Poudrette received a B.S. in Accounting and an M.S. in Professional Accounting from the University of Hartford. Ms. Poudrette is a Certified Public Accountant and a member of the American Institute of Certified Public Accountants and the Connecticut Society of Certified Public Accountants.
Vice President, Capital Markets & Investor Relations
Ms. Pizzo joined the company in July 2020 and is responsible for INDUS's investor relations and capital raising efforts. Her experience includes ten years in finance and real estate, including two years in the Real Estate Gaming & Leisure investment banking group at Bank of America Merrill Lynch, as well as five years working across investments, capital markets and investor relations at Gramercy Property Trust, prior to its acquisition by Blackstone in late 2018.
Ms. Pizzo received a B.S. in Business Administration from Georgetown University.
Randy Gudauskas is responsible for directing INDUS's day-to-day real estate accounting and controllership functions. He joined the company in 1999 and has more than 20+ years of experience in public and private accounting. He joined INDUS from ESPN, where he was the Supervisor of Affiliate Revenue. He previously worked as Plan Controller for Aetna Health Plans of Florida.
Mr. Gudauskas holds a B.S. from Eastern Connecticut State University.
Director of Internal Audit
Mr. Homa's responsibilities include providing assurance on the effectiveness of risk management and the strength of the internal control environment. He joined the company in 2007 and has over 25 years of experience in accounting, auditing and tax. Prior to INDUS, he served as a Senior Auditor for Eversource Energy, Financial Analyst for Gerber Scientific Products, Audit Consultant for Gerber Scientific, Inc. and Senior Auditor for Venman & Co., LLC.
Mr. Homa received a B. S. in Accounting from Sacred Heart University and a M.S. in Accounting and Taxation from the University of Hartford. Mr. Homa has achieved the designations of Certified Public Accountant, Certified Fraud Examiner and Certified Internal Auditor. He is a member of the American Institute of Certified Public Accountants (AICPA), Connecticut Society of Certified Public Accountants (CTCPA), Association of Certified Fraud Examiners (ACFE) and the Institute of Internal Auditors (IIA).
Director of Acquisitions
Mr. Ciani joined the company in August 2021 and is responsible for leading INDUS’s acquisitions effort. Mr. Ciani joined us from Alto Real Estate where he served as Director of Acquisitions and sourced various ground-up industrial developments. Prior to that, Mr. Ciani was at Berkeley Partners, a real estate private equity firm that focuses on acquiring and managing industrial assets. While at Berkeley, Mr. Ciani helped the company increase its AUM from $50M to $1B, developing extensive experience in acquisitions, financing, asset management, leasing, and dispositions.
Mr. Ciani received a B.A. in Economics Magna Cum Laude from Columbia University.
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