LXP Industrial Trust (NYSE:LXP), a real estate investment trust focused on Class A warehouse and distribution real estate investments, today announced the sale of two vacant development projects, totaling 2,138,640 square feet, located in Ocala, Florida and Indianapolis, Indiana for an aggregate gross price of $175 million. The closing of the sale occurred on September 30, 2025.
The gross sale price represents a 20% premium, or $29 million, to the gross book value of the properties as of June 30, 2025. LXP expects to receive net proceeds of approximately $151 million after deducting minority partner distributions and transaction costs. Net proceeds from the sale will be used for debt repayment and other general corporate purposes.
The West Palm Beach-based LXP Industrial is a publicly-traded real estate investment trust (REIT) focused on Class A warehouse and distribution investments in 12 target markets across the Sunbelt and lower Midwest. LXP seeks to expand its warehouse and distribution portfolio through acquisitions, build-to-suit transactions, sale-leaseback transactions, development projects and other transactions.
LXP captured 10 cents, or 1.2%, to $9.06
