Industrial Logistics Properties Trust Announces Two New Leases Totaling More Than 2.7 Million Square Feet in Indianapolis, Indiana and Kapolei, Hawaii

Leasing Activity Increases ILPT’s Portfolio Occupancy to Approximately 98%

NEWTON, Mass.--(BUSINESS WIRE)--Industrial Logistics Properties Trust (Nasdaq: ILPT) today announced the execution of two significant new leases, totaling more than 2.7 million square feet across its U.S. mainland and Hawaii portfolios. Together, these leases fully address the two largest vacancies in ILPT’s portfolio, both of which were strategic priorities for 2026, and increase ILPT’s portfolio occupancy to approximately 98%, as follows:

• A lease for a 532,364 square foot warehouse and distribution facility located at 9215–9347 E. Pendleton Pike in Indianapolis, Indiana. The approximately 10-year lease commenced on May 1, 2026, returning this high-quality facility to full occupancy after being vacant since August 2024.
• A long-term ground lease for 2,237,547 square feet at 91-399 Kauhi Street in Kapolei, Hawaii. Commencing on July 1, 2026, the 53-year lease is expected to unlock value from one of the largest parcels in ILPT’s valuable Hawaii land portfolio.

Yael Duffy, President and Chief Executive Officer of ILPT, made the following statement:

“Leasing these two properties was a top priority for ILPT in 2026, and we are thrilled to have delivered on both. Together, these leases resolve the two most significant vacancies in our portfolio and increase occupancy to approximately 98%, including a 53-year ground lease that monetizes our hard-to-replicate Hawaii land and is anticipated to generate durable income for decades to come. With strong leasing momentum and a robust pipeline of renewal opportunities, we believe we are well positioned to continue to drive tenant retention, capture embedded mark-to-market rent growth and create long-term value for our shareholders.”

About Industrial Logistics Properties Trust

ILPT is a real estate investment trust focused on owning and leasing high quality industrial and logistics properties. As of March 31, 2026, ILPT’s portfolio consisted of 409 properties containing approximately 59.6 million rentable square feet located in 39 states. Approximately 77% of ILPT’s annualized rental revenues as of March 31, 2026 are derived from investment grade tenants, tenants that are subsidiaries of investment grade rated entities or Hawaii land leases. ILPT is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with over $37 billion in assets under management as of March 31, 2026 and 40 years of institutional experience in buying, selling, financing and operating commercial real estate. ILPT is headquartered in Newton, MA. For more information, visit www.ilptreit.com.

WARNING CONCERNING FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Also, whenever ILPT uses words such as “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”, “will”, “may” and negatives or derivatives of these or similar expressions, ILPT is making forward-looking statements. These forward-looking statements are based upon ILPT’s present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. For example: this press release contains statements regarding the execution of ILPT’s two significant new leases and the expected benefits thereof, as well as ILPT’s strong leasing momentum and robust pipeline of renewal opportunities. However, ILPT cannot be sure that it will achieve the expected benefits from the execution of these leases or that it will continue its leasing momentum or have a robust pipeline of renewal opportunities. As a result, ILPT may not be able to drive tenant retention, capture embedded mark-to-market rent growth or create long-term value for its shareholders.

Actual results may differ materially from those contained in or implied by ILPT’s forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond ILPT’s control.

The information contained in ILPT’s filings with the Securities and Exchange Commission, or the SEC, including under the caption “Risk Factors” in ILPT’s periodic reports, or incorporated therein, identifies other important factors that could cause differences from ILPT’s forward-looking statements. ILPT’s filings with the SEC are available on the SEC’s website at www.sec.gov.

You should not place undue reliance upon forward-looking statements.

Except as required by law, ILPT does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.

A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.