LXP Industrial Trust (LXP) 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 $175M. The closing of the sale occurred on September 30, 2025. The gross sale price represents a 20% premium, or $29M, to the gross book value of the properties as of June 30, 2025. LXP expects to receive net proceeds of approximately $151M after deducting minority partner distributions and transaction costs. Net proceeds from the sale will be used for debt repayment and other general corporate purposes.
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