Exhibit 10.29

THIRD AMENDMENT TO THIRD AMENDED
AND RESTATED CREDIT AGREEMENT
This Third Amendment to Third Amended and Restated Credit Agreement (this
“Amendment”) is made as of October 31, 2017 by and among INDUSTRIAL PROPERTY
OPERATING PARTNERSHIP, LP, a Delaware limited partnership (the “Borrower”),
several banks, financial institutions and other entities referred to in the
signature pages to this Agreement (collectively, the “Lenders”), and JPMORGAN
CHASE BANK, N.A., not individually, but as “Administrative Agent”.
RECITALS
A.    The Borrower, the Administrative Agent, and the Lenders are parties to a
Third Amended and Restated Credit Agreement dated as of December 8, 2015 (the
“Original Credit Agreement”), as amended by that certain First Amendment to
Third Amended and Restated Credit Agreement dated as of January 11, 2016 (the
“First Amendment”), and as further amended by that certain Second Amendment to
Third Amended and Restated Credit Agreement dated May 5, 2016 (the “Second
Amendment”, and together with the Original Credit Agreement and the First
Amendment, as amended and modified from time to time, the “Credit Agreement”).
All capitalized terms used in this Amendment and not otherwise defined herein
shall have the meanings ascribed to such terms in the Credit Agreement.
B.    Borrower has requested certain modifications to the Credit Agreement and
the Lenders have agreed to do so as provided herein.
NOW, THEREFORE, in consideration of the foregoing recitals and for other good
and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:
AMENDMENTS
1.The foregoing recitals to this Amendment are incorporated into and made part
of this Amendment.
2.    The definition of “Capitalization Rate” in Section 1.01 of the Original
Credit Agreement is hereby amended and modified to read as follows:
    “Capitalization Rate” means, six percent (6.00%)
3.    The Borrower hereby represents and warrants the following:
a)    no Default exists under the Loan Documents;
b)    the Loan Documents are in full force and effect and Borrower has no
defenses or offsets to, or claims or counterclaims relating to, its obligations
under the Loan Documents;

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c)    there has been no material adverse change in the financial condition of
the Borrower as shown in its December 31, 2016 financial statements;
d)    the Borrower has full power and authority to execute this Amendment and no
consents are required for such execution other than any consents which have
already been obtained; and
e)    all representations and warranties contained in Article III of the Credit
Agreement are true and correct in all material respects as of the date hereof,
except to the extent any such representation or warranty is stated to relate
solely to an earlier date, in which case such representation or warranty is true
and correct in all material respects on and as of such earlier date, and except
that for purposes of this clause (e), the representations and warranties
contained in subsections (a) and (b) of Section 3.04 of the Credit Agreement
shall be deemed to refer to the most recent statements furnished pursuant to
clauses (a) and (b), respectively, of Section 5.01.
4.    The effectiveness of this Amendment shall be conditioned on the following:
a)    The representations and warranties in Section 3 being true and correct.
b)    Any fees required to be paid to the Administrative Agent or any Lender in
connection with this Agreement shall have been paid.
c)    Unless waived by the Administrative Agent, the Borrower shall have paid
all reasonable and documented fees, charges and disbursements of counsel to the
Administrative Agent (directly to such counsel if requested by the
Administrative Agent) to the extent invoiced prior to or on the date that is
three Business Days prior to the date hereof, plus such additional amounts of
such fees, charges and disbursements as shall constitute its reasonable estimate
of such fees, charges and disbursements incurred or to be incurred by it through
the closing proceedings (provided that such estimate shall not thereafter
preclude a final settling of accounts between the Borrower and the
Administrative Agent).
d)    Except as specifically modified hereby, the Credit Agreement is and
remains unmodified and in full force and effect and is hereby ratified and
confirmed. All references in the Loan Documents to the “Credit Agreement”
henceforth shall be deemed to refer to the Credit Agreement as amended by this
Amendment.
5.    This Amendment may be executed in any number of counterparts, all of which
taken together shall constitute one agreement, and any of the parties hereto may
execute this Amendment by signing any such counterpart. This Amendment shall be
construed in accordance with the internal laws (and not the law of conflicts) of
the State of New York, but giving effect to federal laws applicable to national
banks.
6.    This Amendment shall become effective upon satisfaction of the conditions
set forth in Section 4 hereof and when it has been executed by the Borrower, the
Administrative Agent, and the Required Lenders.
[Remainder of Page Intentionally Left Blank.]

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IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the
date first above written.
INDUSTRIAL PROPERTY OPERATING
PARTNERSHIP, LP, a Delaware limited
partnership

By:    Industrial Property Trust Inc., a Maryland
corporation, its general partner

By: /s/ LAINIE P. MINNICK                        
Name:    Lainie P. Minnick
Title:    Managing Director

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JPMORGAN CHASE BANK, N.A.,
as Administrative Agent and as a Lender

By:    /s/ RYAN M. DEMPSEY
Name:    Ryan M. Dempsey
Title:    Authorized Officer

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WELLS FARGO BANK, NATIONAL
ASSOCIATION, as Syndication Agent and as a
Lender

By:    /s/ KEVIN A. STACKER
Name:    Kevin A. Stacker
Title:    Senior Vice President

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BANK OF AMERICA, N.A., as Co-Documentation
Agent and as a Lender

By:    /s/ KURT L. MATHISON                        
Name:    Kurt L. Mathison
Title:    Senior Vice President

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U.S. BANK NATIONAL ASSOCIATION,
as Co-Documentation Agent and as a Lender
By:    /s/ BENJAMIN KURUVILLA
Name:     Benjamin Kuruvilla
Title:    Vice President

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REGIONS BANK, as Co-Documentation Agent
and as a Lender

By:    /s/ GHI GAVIN
Name:    Ghi Gavin
Title:    Senior Vice President

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KEYBANK NATIONAL ASSOCIATION

By: /s/ CHRISTOPHER T. NEIL
Name:    Christopher T. Neil
Title:    Vice President

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PNC BANK, NATIONAL ASSOCIATION

By:    /s/ JAMES A. HARMANN                        
Name:    James A. Harmann
Title:    Senior Vice President

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ASSOCIATED BANK, NATIONAL
ASSOCIATION

By:    /s/ MICHAEL SEDIVY                        
Name:    Michael Sedivy
Title:    Senior Vice President

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MUFG UNION BANK, N.A.

By: /s/ NANCY DALBELLO                            
Name:    Nancy DalBello
Title:    Director

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BANK OF THE WEST,
as a Lender

By: /s/ CRIS GALVEZ
Name:    Cris Galvez
Title:    Vice President

By: /s/ CHUCK WEERASOORIYA
Name:    Chuck Weerasooriya
Title:    Managing Director

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CONSENT OF GUARANTORS
The undersigned, on behalf of itself as the Guarantor under the Trust Guaranty,
and on behalf of each of the Subsidiary Guarantors which are parties to the
Subsidiary Guaranty, each delivered pursuant to the terms of the Credit
Agreement described in the foregoing Amendment, hereby execute this Amendment
for the purpose of consenting to the terms of the foregoing Amendment, and
reaffirming the terms of the Trust Guaranty and Subsidiary Guaranty.
INDUSTRIAL PROPERTY TRUST INC.,
a Maryland corporation

By:    /s/ LAINIE P. MINNICK                        
Name:    Lainie P. Minnick
Title:    Managing Director

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