Industrial Logistics Properties Trust (NASDAQ:ILPT) Q1 2024 Earnings Call Transcript

Yael Duffy: Yes. So besides the Hawaii land parcel that we’ve talked about, there is one other property that’s about 600,000 square feet in Indianapolis that we expect to get back at the end of June. So those are the 2 major known vacates. And besides that, we’re feeling pretty good. There’s always some ins and outs in Hawaii, but usually, those get released pretty quickly.

Mitch Germain: Yes. You had referenced that one last quarter as well. So I was — I think it was more than that, anything other than that one. But that’s super helpful.

Operator: Okay. I have the next question again from Bryan Maher of B. Riley FBR.

Bryan Maher: Just following up on Mitch’s question on that 600,000 square feet in Indianapolis. Do you guys have leads for that property currently? Is that out in the market? What are your expectations that, that could go dark and for how long?

Yael Duffy: So we have been marketing it for a while now. We have had some proposals, but nothing that’s far enough advanced to be excited about. I would assume that it might be vacant for maybe up to a year.

Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Yael Duffy, President and Chief Operating Officer, for any closing remarks.

Yael Duffy: Thanks for joining us today and your continued interest in ILPT.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.