LXP Industrial Trust Sells Development Projects in Central Florida and Indianapolis for $175 Million

LXP Industrial Trust has sold two vacant development projects in Ocala, Florida and Indianapolis, Indiana for $175 million, representing a 20% premium to the gross book value. The net proceeds of approximately $151 million will be used for debt repayment and other general corporate purposes. The sale is expected to close on September 30, 2025.

LXP Industrial Trust (NYSE: LXP), a real estate investment trust (REIT) specializing in Class A warehouse and distribution properties, has announced the sale of two vacant development projects in Ocala, Florida and Indianapolis, Indiana for a total of $175 million. The properties, which total 2,138,640 square feet, were sold at a 20% premium to their gross book value as of June 30, 2025, resulting in a net proceeds amount of approximately $151 million after deducting minority partner distributions and transaction costs LXP Industrial Trust Announces $175 Million Sale of Development Projects in Central Florida and Indianapolis Markets^[1].

The transaction, which closed on September 30, 2025, is expected to be used for debt repayment and other general corporate purposes. LXP Industrial Trust has been focused on expanding its warehouse and distribution portfolio through acquisitions, build-to-suit transactions, sale-leaseback transactions, and development projects LXP Industrial Trust Announces $175 Million Sale of Development Projects in Central Florida and Indianapolis Markets^[1].

Investors have been tracking LXP Industrial Trust's stock price, which has shown mixed results over the past year. While the share price has decreased by about 5% over the last 12 months, the stock has returned over 13% year-to-date and maintained double-digit gains over three years. Analysts consider LXP Industrial Trust undervalued by 12.2% against its estimated fair value, based on future earnings forecasts, margin trajectories, and sector dynamics Assessing Lexington Realty Trust (LXP) Valuation: Is There Untapped Long-Term Value?^[2].

The sale of these development projects underscores LXP Industrial Trust's strategy to optimize its portfolio and improve its financial health. As the real estate market continues to evolve, investors should closely monitor LXP Industrial Trust's progress and the broader economic backdrop to gauge future opportunities and risks.