NEW YORK, NEW YORK (November 19, 2024) INDUS Realty Trust, Inc. (“INDUS” or the “Company”), a U.S.-based logistics real estate business, announced that it recently completed the acquisition of a fully leased, multi-tenanted 393,484 square foot Class A logistics building in the Phoenix, Arizona market.
Completed in 2016, the cross-dock distribution center includes market-leading features such as 36-foot clear height, 96 dock-high doors, and 62 trailer parking spaces. The building is located next to downtown Phoenix in the Sky Harbor Airport submarket and is within close proximity to both I-17 and I-10, two critical routes serving the entire Phoenix metro area.
“We are excited to enter the Phoenix market which continues to experience robust economic and population growth. This property, with a highly sought-after infill location in the Sky Harbor Airport submarket, has strong existing tenancy and is well-positioned for future rent growth,” said Andre Ciani, INDUS’ Director of Acquisitions for the Phoenix region.
Michael Gamzon, President and CEO of INDUS added, “We are bullish on the long-term secular trends in the industrial sector and with access to significant capital from our investors, Centerbridge, GIC and ADIA, we remain focused on growing our platform through the acquisition and development of high-quality logistics properties in fast-growing and strongly performing geographic markets.”
Will Strong, Michael Matchett and Molly Hunt of Cushman & Wakefield arranged the transaction.
About INDUS
INDUS is a real estate business principally engaged in developing, acquiring, managing, and leasing logistics properties. As of November 2024, INDUS owns or has majority ownership in 55 properties and projects under development, aggregating 9.3 million square feet. INDUS’ properties are located in Connecticut, Pennsylvania, North Carolina, South Carolina, Georgia, Tennessee, Florida, and Arizona. INDUS is owned by affiliates of Centerbridge Partners, L.P., a global private investment firm with deep experience in real estate, and GIC, a global institutional investor. Additionally, a wholly owned subsidiary of the Abu Dhabi Investment Authority is a strategic investor alongside Centerbridge in the ownership of INDUS.
Contact:
Nicole Yeh
(212)-218-7916