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LXP Industrial Trust Sells 2 Vacant Dev. Projects in FL & IN for $175M.
ByAinvest
Wednesday, Oct 1, 2025 8:47 am ET1min read
LXP Industrial Trust has sold two vacant development projects in Ocala, Florida and Indianapolis, Indiana for $175 million, a 20% premium to their gross book value. The properties total 2.1 million square feet. LXP expects to receive net proceeds of approximately $151 million. The sale occurred on September 30, 2025.
LXP Industrial Trust (NYSE:LXP), a real estate investment trust specializing in Class A warehouse and distribution properties, has completed the sale of two vacant development projects for $175 million. The properties, totaling 2,138,640 square feet, are located in Ocala, Florida and Indianapolis, Indiana. The transaction closed on September 30, 2025, representing a 20% premium ($29 million) above the properties' gross book value as of June 30, 2025. LXP anticipates receiving net proceeds of $151 million after deductions, which will be allocated towards debt repayment and general corporate purposes [1].The gross sale price of $175 million is a significant achievement for LXP, reflecting a strong market demand for Class A warehouse and distribution properties. The properties sold are part of LXP's strategy to expand its portfolio through strategic acquisitions and development projects. The net proceeds from the sale will be used to strengthen LXP's financial position, as the company aims to reduce debt and invest in future growth opportunities.
LXP Industrial Trust focuses on Class A warehouse and distribution investments in 12 target markets across the Sunbelt and lower Midwest. The company seeks to expand its portfolio through various transactions, including acquisitions, build-to-suit, sale-leaseback, and development projects. This recent sale is a testament to LXP's ability to identify and capitalize on attractive investment opportunities in key markets.
For more details on the transaction, investors can visit LXP's investor relations page .
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