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LXP Industrial Trust Sells Development Site Portfolio In Ocala Florida & Indianapolis Indiana For $175M
SOLD
$175,000,000
National
See Similar DealsDevelopment Site2,138,640 SF
Sold 09/30/2025
SOLD
LXP Industrial Trust Sells Development Site Portfolio In Ocala Florida & Indianapolis Indiana For $175M
Development Site2,138,640 SF
Sold 09/30/2025
Summary
Asset Type:Development Site
Price Per Square Foot:$81
Total Square Footage:2,138,640 SF
Transaction Type:Sale
A development site located in Ocala, Florida, and Indianapolis, Indiana, was sold for a total of $175,000,000. The property encompasses 2,138,640 square feet, translating to a price per square foot of approximately $82.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $175,000,000
- Seller: T. Wilson Eglin - LXP Industrial Trust
- Sale Date: 09/30/2025
- Market: Ocala, Florida & Indianapolis, Indiana
- Total Square Feet: 2,138,640
- Price Per Square Foot: $82
LXP Industrial Trust sold two vacant development projects, realizing a 20% premium to book value. The REIT anticipates $151,000,000 in net proceeds from the sale, which is earmarked for debt repayment and corporate purposes.
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SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$9,333,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$621,738.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$829,589.28
Annual Debt Service$9,955,071.37
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