Indus Realty Trust to divest remaining office/flex buildings

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• Indus Realty Trust (NASDAQ:INDT) says that it intends to sell its remaining office/flex buildings and fully exit its legacy investment in office properties.
• The Office/Flex Portfolio is comprised of seven buildings located in Windsor and Bloomfield Connecticut totaling ~175,200 square feet; ~70% leased and includes certain space occupied by INDUS.
• Additionally, INDUS intends to sell an ~18,000 square foot building that is located adjacent to the Office/Flex Portfolio and is principally used for storage by INDUS' property management group.
• Following the sale of the Office/Flex Portfolio, INDUS is expected to be a pure-play industrial/logistics REIT with a modern portfolio located in select high-growth markets.