Vacant sales
LXP Industrial (NYSE: LXP) announced the vacant sale of two industrial development properties to a user buy for $175 million ($82/SF).
The properties were sold at a 20% premium to the consolidated undepreciated book value and LXP held an 80% interest. Asset details include:
1) 3343 NW 44th Ave, Ocala, FL - 1.09 million square feet
2) 2463 N Buck Creek Rd, Greenfield, IN - 1.05 million square feet
LXP intends to use proceeds for debt repayment and general corporate purposes. Pro forma, LXP’s occupancy increased to 97.8% and leverage will decline.
Preannounced 3Q activity
Alpine Income Property Trust (NYSE: PINE) disclosed its 3Q transaction activity:
Subscribe to read the rest.
Become a paying subscriber of the Net Lease Observer to get access to this post and other subscriber-only content.
Upgrade