Modiv Industrial, Inc. entered into a letter of intent acquire Industrial manufacturing property in Tampa, Florida for for $6.4 million.
May 02, 2024
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Modiv Industrial, Inc. (NYSE:MDV) entered into a letter of intent acquire Industrial manufacturing property in Tampa, Florida for for $6.4 million on April 26, 2024. The transaction remains subject to negotiation of a definitive purchase and sale agreement, completion of due diligence and customary closing conditions. The Company plans to fund this acquisition with available cash on hand.
Modiv Industrial, Inc. is an internally managed real estate investment trust (REIT), which is focused on single-tenant net-lease industrial manufacturing real estate. The Company acquires critical industrial manufacturing properties with long-term leases to tenants that fuel the national economy and strengthen the nation's supply chain. The Company also owns non-core, legacy retail and office real estate properties. It seeks to provide investors with access to monthly dividends through a durable portfolio of real estate investments designed to generate both current income and long-term growth. Its real estate investment portfolio consisted of 44 properties, including two properties held for sale. Its portfolio is distributed across 16 states and consists of 39 industrial properties, one retail property and four office properties.
MODIV INDUSTRIAL, INC. 
