Exhibit 21.1

Industrial Property Trust Inc. Entity List

(as of December 31, 2018)

ENTITY NAME	DOMESTIC JURISDICTION	FOREIGN QUALIFICATION
1111 Broadway Distribution, LLC	Delaware	Georgia
BTC I REIT A LLC	Delaware	n/a
BTC I REIT B LLC	Delaware	n/a
BTC II Holdco LLC	Delaware	n/a
BTC Intermediate Holdco GP LLC	Delaware	n/a
BTC Intermediate Holdco LP	Delaware	n/a
BTC II CA Line Holdco LLC	Delaware	n/a
BTC II Line Holdco LLC	Delaware	n/a
BTC II PA Allentown DC Holdco LLC	Delaware	n/a
BTC II PA Allentown DC II Holdco LLC	Delaware	n/a
BTC II PA Heritage Logistics Center Holdco LLC	Delaware	n/a
BTC II PA Lehigh Valley Airport Logistics Center Holdco LLC	Delaware	n/a
Build-To-Core C Corp.	Delaware	n/a
Build-to-Core Industrial Partnership I LP	Delaware	n/a
Build-to-Core Industrial Partnership II LP	Delaware	n/a
Industrial Property Advisors LLC	Delaware	Colorado
Industrial Property Advisors Group LLC	Delaware	Colorado
Industrial Property Operating Partnership LP	Delaware	Colorado
Industrial Property Trust Inc.	Maryland	Colorado
IPT 1031 Parent LLC	Delaware	n/a
IPT 5 Logistics DC LLC	Delaware	Pennsylvania
IPT 7A DC LLC	Delaware	New Jersey
IPT 7A DC II LLC	Delaware	New Jersey
IPT 8A DC LLC	Delaware	New Jersey
IPT 8A DC II LLC	Delaware	New Jersey
IPT 360 Logistics Center LLC	Delaware	Texas
IPT Acquisitions LLC	Delaware	n/a
IPT Addison DC LLC	Delaware	Illinois
IPT Agua Mansa Commerce Center LLC	Delaware	California
IPT Airpark IC GP LLC	Delaware	n/a
IPT Airpark IC LP	Delaware	California
IPT Airport Plaza IC LLC*	Delaware	n/a
IPT Airport Plaza Office Park LLC	Delaware	Georgia
IPT Airtex DC GP LLC	Delaware	n/a
IPT Airtex DC LP	Delaware	Texas
IPT Airways DC LLC	Delaware	Colorado
IPT Airwest DC I LLC	Delaware	Indiana
IPT Airwest DC II LLC	Delaware	Indiana
IPT Alessandro DC GP LLC	Delaware	n/a
IPT Alessandro DC LP	Delaware	California

IPT Allentown DC LLC	Delaware	Pennsylvania
IPT Allentown DC II LLC	Delaware	Pennsylvania
IPT Alvarado Commerce Center GP LLC	Delaware	n/a
IPT Alvarado Commerce Center LP	Delaware	California
IPT Arrow Route DC GP LLC	Delaware	n/a
IPT Arrow Route DC LP	Delaware	California
IPT Auburn 167 IC LLC	Delaware	Washington
IPT Auburn DC LLC	Delaware	Washington
IPT Auburn DC II LLC	Delaware	Washington
IPT Auburn IC LLC	Delaware	Washington
IPT Aurora DC LLC	Delaware	Illinois
IPT Aurora DC II LLC	Delaware	Illinois
IPT Barrett Lakes DC LLC	Delaware	Georgia
IPT Baseline IC LLC	Delaware	Arizona
IPT Bayport DC GP LLC	Delaware	n/a
IPT Bayport DC LP	Delaware	Texas
IPT Belt Line DC GP LLC	Delaware	n/a
IPT Belt Line DC LP	Delaware	Texas
IPT Bolingbrook IC LLC	Delaware	Illinois
IPT Brodhead DC LLC	Delaware	Pennsylvania
IPT BTC I GP LLC	Delaware	n/a
IPT BTC II GP LLC	Delaware	n/a
IPT BTC I LP LLC	Delaware	n/a
IPT BTC II LP LLC	Delaware	n/a
IPT CA-1 Loan Holdco GP LLC	Delaware	n/a
IPT CA-1 Loan Holdco LP	Delaware	n/a
IPT Cabot BC LLC	Delaware	Georgia
IPT Carlisle DC LLC	Delaware	Pennsylvania
IPT Carol Stream DC LLC	Delaware	Illinois
IPT Central Valley IC GP LLC	Delaware	n/a
IPT Central Valley IC LP	Delaware	California
IPT CentrePort DC GP LLC	Delaware	n/a
IPT CentrePort DC LP	Delaware	Texas
IPT Century DC GP LLC	Delaware	n/a
IPT Century DC LP	Delaware	Texas
IPT Century Plaza IC GP LLC	Delaware	n/a
IPT Century Plaza IC LP	Delaware	Texas
IPT Chandler DC LLC	Delaware	Arizona
IPT Charlotte DC GP LLC	Delaware	n/a
IPT Charlotte DC LP	Delaware	North Carolina
IPT Charlotte DC II GP LLC	Delaware	n/a
IPT Charlotte DC II LP	Delaware	North Carolina
IPT Chastain Meadows DC LLC	Delaware	Georgia
IPT Cheyenne DC LLC	Delaware	Nevada
IPT Chicago IC LLC	Delaware	Illinois
IPT Chula Vista IC GP LLC	Delaware	n/a

IPT Chula Vista IC LP	Delaware	California
IPT Cincinnati IC LLC	Delaware	Ohio
IPT Clackamas DC LLC	Delaware	Oregon
IPT Columbia Park DC LLC	Delaware	Maryland
IPT Commerce IC LLC	Delaware	California
IPT Commerce IC II GP LLC	Delaware	n/a
IPT Commerce IC II LP	Delaware	California
IPT Corona IC GP LLC	Delaware	n/a
IPT Corona IC LP	Delaware	California
IPT Corona IC II GP LLC	Delaware	n/a
IPT Corona IC II LP	Delaware	California
IPT Corona IC III GP LLC	Delaware	n/a
IPT Corona IC III LP	Delaware	California
IPT Corridor IC LLC	Delaware	Maryland
IPT Corridor IC II LLC	Delaware	Maryland
IPT Dallas Distribution Land GP LLC	Delaware	Texas
IPT Dallas Distribution Land LP	Delaware	Texas
IPT Dallas Distribution Portfolio GP LLC	Delaware	Texas
IPT Dallas Distribution Portfolio LP	Delaware	Texas
IPT Deer Valley IC LLC	Delaware	Arizona
IPT Demarest DC LLC	Delaware	New Jersey
IPT Dixie Highway Industrial Park DC LLC	Delaware	Florida
IPT Dorsey Run DC LLC	Delaware	Maryland
IPT Douglas Hill Logistics Center LLC	Delaware	Georgia
IPT Drew Court CC LLC	Delaware	Pennsylvania
IPT East Bay DC GP LLC	Delaware	n/a
IPT East Bay DC LP	Delaware	California
IPT East Union IC LLC	Delaware	New Jersey
IPT East Windsor DC LLC*	Delaware	n/a
IPT Etiwanda IC GP LLC	Delaware	n/a
IPT Etiwanda IC LP	Delaware	California
IPT FAA DC GP LLC	Delaware	n/a
IPT FAA DC LP	Delaware	Texas
IPT Grand River DC GP LLC	Delaware	n/a
IPT Grand River DC LP	Delaware	Texas
IPT Greens Crossing DC GP LLC	Delaware	n/a
IPT Greens Crossing DC LP	Delaware	Texas
IPT Greenwood DC LLC	Delaware	Indiana
IPT GSW DC GP LLC	Delaware	n/a
IPT GSW DC LP	Delaware	Texas
IPT Hayward IC GP LLC	Delaware	n/a
IPT Hayward IC LP	Delaware	California
IPT Hayward Logistics Center LLC	Delaware	California
IPT Heritage Logistics Center LLC	Delaware	Pennsylvania
IPT High Grove DC LLC	Delaware	Illinois
IPT Horizon DC LLC	Delaware	Pennsylvania

IPT I-215 DC LLC	Delaware	California
IPT I-215 DC II LLC	Delaware	California
IPT I-55 DC LLC	Delaware	Illinois
IPT Interstate South DC LLC*	Delaware	n/a
IPT Iron Run DC LLC	Delaware	Pennsylvania
IPT Iron Run DC II LLC	Delaware	Pennsylvania
IPT Junction IC LLC	Delaware	Maryland
IPT Kelley Point DC LLC	Delaware	Oregon
IPT Kennesaw IC LLC	Delaware	Georgia
IPT Kent IP LLC	Delaware	Washington
IPT Lakeside Corporate Center LLC	Delaware	Texas
IPT Lakeside DC LLC	Delaware	Texas
IPT Lanham DC LLC	Delaware	Maryland
IPT LaPorte DC GP LLC	Delaware	n/a
IPT LaPorte DC LP	Delaware	Texas
IPT Largo IC LLC	Delaware	Maryland
IPT Lehigh Valley Airport Logistics Center LLC	Delaware	Pennsylvania
IPT Lehigh Valley Business Center LLC	Delaware	Pennsylvania
IPT Lehigh Valley CC LLC	Delaware	Pennsylvania
IPT Lehigh Valley DC LLC	Delaware	Pennsylvania
IPT Lehigh Valley DC II LLC	Delaware	Pennsylvania
IPT Livermore DC GP LLC	Delaware	n/a
IPT Livermore DC LP	Delaware	California
IPT LOC Lender LLC	Delaware	n/a
IPT Long Beach IC GP LLC	Delaware	n/a
IPT Long Beach IC LP	Delaware	California
IPT Marina Vista BC LLC	Delaware	Texas
IPT Marley Neck DC LLC	Delaware	Maryland
IPT Meadows DC LLC*	Delaware	n/a
IPT Meadows DC II LLC	Delaware	Georgia
IPT Mechanicsburg DC LLC	Delaware	Pennsylvania
IPT Mercure Logistics Center LLC	Delaware	Virginia
IPT Medley DC LLC	Delaware	Florida
IPT Memphis DC LLC	Delaware	Tennessee Mississippi
IPT Mesa DC LLC	Delaware	Arizona
IPT Mid Counties DC GP LLC	Delaware	n/a
IPT Mid Counties DC LP	Delaware	California
IPT Newark DC LLC	Delaware	New Jersey
IPT Normal Junction CC LLC	Delaware	Arizona
IPT North Kent IC LLC	Delaware	Washington
IPT Northeast IC LLC*	Delaware	n/a
IPT Northwest IC GP LLC	Delaware	n/a
IPT Northwest IC LP	Delaware	Texas
IPT Oakesdale CC LLC	Delaware	Washington
IPT Oakesdale CC II LLC	Delaware	Washington

IPT O’Hare DC LLC	Delaware	Illinois
IPT O’Hare IC LLC	Delaware	Illinois
IPT OKC IC LLC*	Delaware	n/a
IPT Omega Pkwy DC LLC	Delaware	Kentucky
IPT Otay Logistics Center LLC	Delaware	California
IPT Pacific Coast BP I LLC	Delaware	California
IPT Pacific Coast BP II LLC	Delaware	California
IPT Pacific Coast BP III LLC	Delaware	California
IPT Pacific Coast BP IV LLC	Delaware	California
IPT Pacific Coast BP V LLC	Delaware	California
IPT Pacific Coast BP VI LLC	Delaware	California
IPT Pacific Coast BP VII LLC	Delaware	California
IPT Palm Beach CC LLC	Delaware	Florida
IPT Park 100 DC LLC	Delaware	Maryland
IPT Park West DC LLC	Delaware	Kentucky
IPT Peachtree DC LLC	Delaware	Georgia
IPT Peoria DC LLC	Delaware	Colorado
IPT Perris DC LLC	Delaware	California
IPT Perris DC II (Land) LLC	Delaware	California
IPT Pinnacle DC LLC	Delaware	Illinois
IPT Pinnacle DC II LLC	Delaware	Illinois
IPT Pinnacle IC LLC	Delaware	Arizona
IPT Piscataway DC Urban Renewal LLC	Delaware	New Jersey
IPT Pompano IC LLC	Delaware	Florida
IPT Portland IC LLC	Delaware	Oregon
IPT Property Management LLC	Delaware	n/a
IPT Race Road IC LLC	Delaware	Maryland
IPT Rainier Park DC LLC	Delaware	Washington
IPT Rampart IC GP LLC	Delaware	n/a
IPT Rampart IC LP	Delaware	Texas
IPT Rampart IC II LLC	Delaware	Texas
IPT Real Estate Holdco LLC	Delaware	n/a
IPT Redlands DC GP LLC	Delaware	n/a
IPT Redlands DC LP	Delaware	California
IPT Renton DC LLC	Delaware	Washington
IPT Rialto DC GP LLC	Delaware	n/a
IPT Rialto DC LP	Delaware	California
IPT Richmond DC GP LLC	Delaware	California
IPT Richmond DC LP	Delaware	California
IPT Richmond DC II GP LLC	Delaware	California
IPT Richmond DC II LP	Delaware	California
IPT Richmond Logistics Center LLC	Delaware	California
IPT Riverport DC LLC	Delaware	Kentucky
IPT Royal IC LLC*	Delaware	n/a
IPT Salt Lake City DC LLC	Delaware	Utah
IPT Salt Lake City DC II LLC	Delaware	Utah

IPT San Antonio DC GP LLC*	Delaware	n/a
IPT San Antonio DC LP*	Delaware	n/a
IPT San Antonio Logistics Center LLC	Delaware	Texas
IPT San Jose BC GP LLC	Delaware	n/a
IPT San Jose BC LP	Delaware	California
IPT San Jose BC II GP LLC	Delaware	n/a
IPT San Jose BC II LP	Delaware	California
IPT Services LLC	Delaware	n/a
IPT Silicon Valley IC LLC	Delaware	California
IPT Silver Spring DC LLC	Delaware	Pennsylvania
IPT Silver Spring DC II LLC	Delaware	Pennsylvania
IPT South Bay DC GP LLC	Delaware	n/a
IPT South Bay DC LP	Delaware	California
IPT South Bay DC II GP LLC	Delaware	n/a
IPT South Bay DC II LP	Delaware	California
IPT South San Francisco DC GP LLC	Delaware	n/a
IPT South San Francisco DC LP	Delaware	California
IPT Southfield IC LLC	Delaware	Georgia
IPT Southmeadow DC LLC	Delaware	Georgia
IPT Southshore DC LLC	Delaware	Oregon
IPT Stockton DC GP LLC	Delaware	n/a
IPT Stockton DC LP	Delaware	California
IPT Stockton DC II GP LLC	Delaware	n/a
IPT Stockton DC II LP	Delaware	California
IPT Stockton Industrial Center GP LLC	Delaware	n/a
IPT Stockton Industrial Center LP	Delaware	California
IPT Sumner DC LLC	Delaware	Washington
IPT Sycamore IC GP LLC	Delaware	n/a
IPT Sycamore IC LP	Delaware	California
IPT Tacoma CC LLC	Delaware	Washington
IPT Tacoma Logistics Center LLC	Delaware	Washington
IPT Tempe BC LLC	Delaware	Arizona
IPT Totowa CC LLC	Delaware	New Jersey
IPT Tracy DC GP LLC	Delaware	n/a
IPT Tracy DC LP	Delaware	California
IPT Tracy DC II GP LLC	Delaware	n/a
IPT Tracy DC II LP	Delaware	California
IPT Tracy DC III LLC	Delaware	California
IPT Tracy DC IV LLC	Delaware	California
IPT Trade Port DC LLC	Delaware	Kentucky
IPT Trade Port DC II LLC	Delaware	Kentucky
IPT Trade Port DC III LLC	Delaware	Kentucky
IPT Trade Zone IC LLC	Delaware	Maryland
IPT Tualatin DC LLC	Delaware	Oregon
IPT Turnpike IC LLC	Delaware	New Jersey
IPT Tuscany IC GP LLC*	Delaware	n/a

IPT Tuscany IC LP*	Delaware	n/a
IPT Tuscany IC II GP LLC	Delaware	n/a
IPT Tuscany IC II LP	Delaware	Texas
IPT Tuscany IC III LLC	Delaware	Texas
IPT Upland DC LLC	Delaware	Colorado
IPT Valencia IC GP LLC	Delaware	n/a
IPT Valencia IC LP	Delaware	California
IPT Waterman DC LLC	Delaware	California
IPT West Valley DC LLC	Delaware	Washington
IPT West Valley DC II LLC	Delaware	Washington
IPT West Valley DC III LLC *	Delaware	n/a
IPT Wilson Commerce Center LLC	Delaware	Tennessee
IPT Windham IC LLC	Delaware	Illinois
IPT World Park DC LLC	Delaware	Ohio
IPT York DC LLC	Delaware	Pennsylvania
Summit I Distribution Center, LLC	Delaware	Tennessee
Summit III Distribution Center, LLC	Delaware	Tennessee

* Entities that were subsumed into another IPT entity (Tuscany) will be dissolved as of 12-31-2018. Entities that were sold 11-2-16 (OKC and San Antonio), 12-28-2016 (East Windsor and Meadows DC, and 12-29-2016 (Interstate South) will be dissolved as of 12-31-2019. Entities that were sold 2-3-2017 (Airport Plaza IC, Northeast IC and Royal IC) will be dissolved as of 12-31-2020. IPT West Valley DC III LLC sold 10-24-17 and will be dissolved as of 12-31-2020.