Commitments and Contingencies

3 Months Ended

Mar. 31, 2021

Commitments and Contingencies

Commitments and Contingencies

10.    Commitments and Contingencies

As of March 31, 2021, INDUS had committed purchase obligations of approximately $32,446, principally related to the construction of: (a) an approximately 141,000 square foot industrial/logistics building and site work in Charlotte, North Carolina (the “Charlotte Build-to-Suit”); (b) an approximately 103,000 square foot industrial/logistics building in the Lehigh Valley of Pennsylvania being built on speculation; and (c) an approximately 234,000 square foot industrial/logistics building in Connecticut that is 67% pre-leased, as well as improvements of its real estate assets.

From time to time, INDUS is involved, as a defendant, in various litigation matters arising in the ordinary course of business. In the opinion of management, based on the advice of legal counsel, the ultimate liability, if any, with respect to these matters is not expected to be material, individually or in the aggregate, to the Company’s consolidated financial position, results of operations or cash flows.