Document:

EX-10.5

 Exhibit 10.5 

AMENDED AND RESTATED ESCROW AGREEMENT 

THIS AMENDED AND RESTATED ESCROW AGREEMENT (this “Agreement”) made and entered into as of July 1, 2016 by and
among Dividend Capital Securities LLC, a Colorado limited liability company (the “Dealer Manager”), Industrial Logistics Realty Trust Inc., a Maryland corporation (the “Company”), and UMB Bank, N.A., as escrow
agent, a national banking association organized and existing under the laws of the United States of America (the “Escrow Agent”).  

RECITALS 

WHEREAS, the Company proposes to offer and sell up to $1.5 billion of its shares of common stock (the “Shares”), on a
best-efforts basis (excluding the shares of its common stock to be offered and sold pursuant to the Company’s distribution reinvestment plan), at an initial purchase price of $10.00 per Class A share, $9.4149 per Class T share and $9.0355
per Class W share (the “Offering”) to investors pursuant to the Company’s Registration statement on Form S-11 (File No. 333-200594) filed with the Securities and Exchange Commission (the “SEC”), as amended
or supplemented from time to time (the “Offering Document”); 
 WHEREAS, the Dealer Manager has been engaged by the
Company to offer and sell the Shares on a best efforts basis through a network of participating broker-dealers (the “Dealers”); 

WHEREAS, the Company has agreed that the subscription price paid by subscribers for shares will be refunded to such subscribers if at
least $2.0 million of gross offering proceeds from at least one hundred persons who are not affiliated with the Company or ILT Advisors LLC (the “Advisor”) (the “Minimum Offering”) has not been raised within one
year from the date the Offering Document becomes effective with the SEC (the “Closing Date”); 
 WHEREAS, the Dealer
Manager and the Company desire to establish an escrow account (the “Escrow Account”), as further described herein in which funds received from subscribers will be deposited into an interest-bearing account entitled “UMB, N.A.,
as Escrow Agent for Industrial Logistics Realty Trust Inc.” and the Company desires that UMB Bank, N.A. act as escrow agent to the Escrow Account and Escrow Agent is willing to act in such capacity; 

WHEREAS, deposits received from residents from the State of Ohio (the “Ohio Subscribers”), residents from the
Commonwealth of Pennsylvania (the “Pennsylvania Subscribers”) and residents from the State of Washington (“Washington Subscribers”) will remain in the Escrow Account until the conditions applicable to Ohio
Subscribers, Pennsylvania Subscribers and Washington Subscribers, respectively, set forth in Section 2 hereof have been satisfied; 

WHEREAS, the Escrow Agent has engaged DST Systems, Inc. (the “Transfer Agent”) to examine for “good order”
subscriptions and to act as record keeper, maintaining on behalf of the Escrow Agent the ownership records for the Escrow Account. In so acting the Transfer Agent shall be acting solely in the capacity of agent for the Escrow Agent and not in any
capacity on behalf of the Company or the Dealer Manager, nor shall they have any interest other than that provided in this Agreement in assets in the Transfer Agent’s possession as the agent of the Escrow Agent; and 

 WHEREAS, in order to subscribe for Shares during the Escrow Period (as defined below), a
subscriber must deliver the full amount of its subscription: (i) by check made payable to the order of UMB Bank, N.A., as Escrow Agent for Industrial Logistics Realty Trust Inc. in U.S. dollars or (ii) by wire transfer of immediately
available funds or Automated Clearing House (ACH) in U.S. dollars, made payable as provided in Section 10(2).  
 AGREEMENT

 NOW, THEREFORE, the Dealer Manager, the Company and Escrow Agent agree to the terms of this Agreement as follows:
 
 1. Establishment of Escrow Account; Escrow Period. On or prior to the commencement of the offering of Shares pursuant to
the Offering Document, the Company shall establish the Escrow Account with the Escrow Agent, which shall be entitled “UMB Bank, N.A., as Escrow Agent for Industrial Logistics Realty Trust Inc.” The Escrow Agent hereby agrees to maintain
the funds contributed by the Ohio Subscribers, Pennsylvania Subscribers and Washington Subscribers in a manner in which they may be separately accounted for by the records of the Transfer Agent so that the requirements set forth in Section 2 of
this Agreement with respect to Ohio Subscribers, Pennsylvania Subscribers and Washington Subscribers can be satisfied. This Agreement shall be effective on the date on which the Offering Document becomes effective and the Company shall notify the
Transfer Agent and the Escrow Agent of the effective date of the Offering Document. Except as set forth below with respect to Ohio Subscribers, Pennsylvania Subscribers and Washington Subscribers, the escrow period shall commence upon the
effectiveness of this Agreement and shall continue until the earlier of (i) the date upon which the Company has raised the Minimum Offering, (ii) the Closing Date, or (iii) the termination of the Offering by the Company prior to the
receipt of the Minimum Offering (the “Escrow Period”). With respect to Ohio Subscribers, the Escrow Period shall continue until the earlier of (x) the date upon which the Company has raised at least $7.0 million of gross
offering proceeds from all subscribers (the “Ohio Minimum Offering”), (y) the Closing Date, if the Company has not raised the Minimum Offering by the Closing Date or (z) the termination of the Offering by the Company prior
to the occurrence of (x) or (y). With respect to Pennsylvania Subscribers, the Escrow Period shall continue until the earlier of (a) the date upon which the Company has raised at least $75.0 million of gross offering proceeds from all
subscribers (the “Pennsylvania Minimum Offering”), (b) the Closing Date, if the Company has not raised the Minimum Offering by the Closing Date or (c) the termination of the Offering by the Company prior to the occurrence
of (a) or (b). With respect to Washington Subscribers, the Escrow Period shall continue until the earlier of (A) the date upon which the Company has raised at least $10.0 million of gross offering proceeds from all subscribers (the
“Washington Minimum Offering”), (B) the Closing Date, if the Company has not raised the Minimum Offering by the Closing Date or (C) the termination of the Offering by the Company prior to the occurrence of (A) or (B).

  
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 2. Operation of the Escrow. 

(a) Deposits in the Escrow Account. During the Escrow Period, persons subscribing to purchase Shares will be instructed by the Company,
the Dealer Manager and the Dealers to make checks for subscriptions payable to the order of “UMB Bank, N.A., as Escrow Agent for Industrial Logistics Realty Trust Inc.” Any Dealer receiving a check not conforming to the foregoing
instructions shall return such check directly to such subscriber not later than the end of the next business day following its receipt. Checks received by the Dealer which conform to the foregoing instructions shall be transmitted for deposit in
accordance with the following procedures. Where, pursuant to a Dealer’s internal supervisory procedures, internal supervisory review is conducted at the same location at which subscription documents and checks are initially received from
subscribers, checks will be transmitted by the end of the next business day following receipt of the subscription documents and checks by the Dealer to the Escrow Agent until the Minimum Offering has been achieved, with respect to subscribers other
than Ohio Subscribers, Pennsylvania Subscribers and Washington Subscribers (“Non-Ohio/Pennsylvania/Washington Subscribers”), or until the Ohio Minimum Offering, Pennsylvania Minimum Offering or Washington Minimum Offering, as
applicable, has been achieved, with respect to Ohio Subscribers, Pennsylvania Subscribers or Washington Subscribers. After the Minimum Offering has been achieved, in the case of Non-Ohio/Pennsylvania/Washington Subscribers, or after the Ohio Minimum
Offering, Pennsylvania Minimum Offering or Washington Minimum Offering, as applicable, has been achieved, in the case of Ohio Subscribers, Pennsylvania Subscribers or Washington Subscribers, such subscription documents and checks will be transmitted
by the end of the next business day following receipt of the subscription documents and such checks by the Dealer to the Company or to such other account or agent as directed by the Company. Where, pursuant to a Dealer’s internal supervisory
procedures, final internal supervisory review is conducted at a different location (the “Final Review Office”), subscription documents and checks will be transmitted to the Final Review Office by the end of the next business day
following receipt of the subscription documents and checks by the Dealer. The Final Review Office will transmit such subscription documents and checks by the end of the next business day following receipt by the Final Review Office to the Escrow
Agent until the Minimum Offering has been achieved, with respect to Non-Ohio/Pennsylvania/Washington Subscribers, or until the Ohio Minimum Offering, Pennsylvania Minimum Offering or Washington Minimum Offering, as applicable, has been achieved,
with respect to Ohio Subscribers, Pennsylvania Subscribers or Washington Subscribers. After the Minimum Offering has been achieved, with respect to Non-Ohio/Pennsylvania/Washington Subscribers, or after the Ohio Minimum Offering, Pennsylvania
Minimum Offering or Washington Minimum Offering, as applicable, has been achieved, with respect to Ohio Subscribers, Pennsylvania Subscribers or Washington Subscribers, such subscription documents and checks will be transmitted by the end of the
next business day following receipt by the Final Review Office to the Company or to such other account or agent as directed by the Company. 

Dealers shall deliver checks and completed subscription documents via overnight courier to the Escrow Agent at the address as provided for in
Section 10(2), and wires or Automated Clearing House (ACH) payments shall be transmitted directly to the Escrow Account. Deposits shall be held in the Escrow Account until such funds are disbursed in accordance with this Agreement. Prior to
disbursement of the funds deposited in the Escrow Account, such funds shall not be subject to claims by creditors of the Company or any of its affiliates. If any of the instruments of payment are returned to the Escrow Agent for nonpayment prior to
raising the Minimum Offering, with respect to Non-Ohio/Pennsylvania/Washington Subscribers, or prior to raising the Ohio Minimum Offering, Pennsylvania Minimum Offering or Washington Minimum 

  
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Offering, as applicable, with respect to Ohio Subscribers, Pennsylvania Subscribers, or Washington Subscribers, the Escrow Agent shall promptly notify the Transfer Agent and the Company in
writing via mail, email or facsimile of such nonpayment, and the Escrow Agent is authorized to debit the Escrow Account in the amount of such returned payment and the Transfer Agent shall delete the appropriate account from the records maintained by
the Transfer Agent. Within 15 days from the date of receipt of each subscription, the Company will determine whether or not the subscription is to be accepted or rejected in whole or in part. Within 10 business days of receipt by the Escrow Agent of
written notice from the Company, or as soon thereafter as practicable, that a subscription has been rejected, the Escrow Agent shall transfer by check the funds and all interest, if any, earned thereon, of any subscribers whose subscription has been
rejected since the commencement of the Offering. Notwithstanding the foregoing, if applicable, if a subscriber has failed to remit an executed and valid IRS Form W-9 to the Escrow Agent prior to the date the subscriber’s funds are to be
returned, then the Escrow Agent shall remit an amount to the subscriber in accordance with the provisions hereof, withholding the applicable percentage for backup withholding required by the Code, as then in effect. The Transfer Agent will maintain
a written account of each sale, which account shall set forth, among other things, the following information: (i) the subscriber’s name and address, (ii) the subscriber’s social security number, (iii) the number of Shares
purchased by such subscriber, and (iv) the amount paid by such subscriber for such Shares. During the Escrow Period neither the Company nor the Dealer Manager will be entitled to any funds received into the Escrow Account. 

(b) Distribution of the Funds in the Escrow Account With Respect to Non-Ohio/Pennsylvania/Washington Subscribers. If at any time on or
prior to the Closing Date, the Minimum Offering has been raised, then upon the happening of such event, the funds in the Escrow Account shall remain in the Escrow Account until the Escrow Agent receives written direction provided by the Company and
the Dealer Manager instructing the Escrow Agent to deliver such funds as the Company shall direct (other than any funds received from Pennsylvania Subscribers, Ohio Subscribers or Washington Subscribers which cannot be released until the conditions
of Sections 2(d) or 2(e) hereof have been met). The Escrow Agent shall release collected funds and any interest or other income earned thereon from the Escrow Account as directed by the Company pursuant to written instruction that the Company shall
provide to the Escrow Agent from time to time. 
 (c) Distribution of the Funds in the Escrow Account if the Minimum Offering Has Not
Been Raised. If the Company has not raised the Minimum Offering on or prior to the Closing Date, the Transfer Agent shall provide the Escrow Agent the information needed to return the funds in the Escrow Account, together with any interest
thereon, to each respective subscriber, and the Escrow Agent shall promptly (but in no event later than 30 business days following the Closing Date) create and dispatch checks and wires drawn on the Escrow Account to return the amount of the funds
in the Escrow Account, together with their pro rata share of any interest thereon, without deduction, penalty or expense, to the respective subscribers, and the Escrow Agent shall notify the Company and the Dealer Manager of its distribution of the
funds. Notwithstanding the foregoing, if applicable, if a subscriber has failed to remit an executed and valid IRS Form W-9 to the Escrow Agent prior to the date the subscriber’s funds are to be returned, then the Escrow Agent shall remit an
amount to the subscriber in accordance with the provisions hereof, withholding the applicable percentage for backup withholding required by the Code, as then in effect. The subscription payments returned to each subscriber shall be free and clear of
any and all claims of the Company or any of its creditors. 

  
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 (d) Distributions of the Funds from Pennsylvania Subscribers. Notwithstanding anything to
the contrary herein, disbursements of funds contributed by Pennsylvania Subscribers may only be distributed in compliance with the provisions of this Section 2(d). Irrespective of any disbursement of funds from the Escrow Account pursuant to
this Section 2, the Escrow Agent will continue to place deposits from the Pennsylvania Subscribers into the Escrow Account, until such time as the Company notifies the Escrow Agent in writing that total subscriptions (including amounts
previously disbursed as directed by the Company and the amounts then held in the Escrow Account) equal or exceed the Pennsylvania Minimum Offering. At that time, the Escrow Agent shall release such funds and any interest or other income earned
thereon from the Escrow Account as directed by the Company pursuant to written instruction that the Company shall provide to the Escrow Agent from time to time. 

If the Company has not received total subscriptions equal to at least the Pennsylvania Minimum Offering within 120 days of the date the
Company first receives a subscription from a Pennsylvania Subscriber (the “Initial Escrow Period”), the Company shall notify each Pennsylvania Subscriber by certified mail or any other means (whereby receipt of delivery is obtained) of the
right of Pennsylvania Subscribers to have their investment returned to them. If, pursuant to such notice, a Pennsylvania Subscriber requests the return of his or her subscription funds within 10 days after receipt of the notification (the
“Request Period”), the Escrow Agent shall refund, directly to such Pennsylvania Subscriber the funds deposited in the Escrow Account on behalf of the Pennsylvania Subscriber, without interest and without deduction, within 15 days after
receipt of the Pennsylvania Subscriber’s request. 
 The funds of Pennsylvania Subscribers who do not request the return of their funds
within the Request Period shall remain in the Escrow Account for successive 120-day escrow periods (each a “Successive Escrow Period”), each commencing automatically upon the termination of the prior Successive Escrow Period, and the
Company and Escrow Agent shall follow the notification and payment procedure set forth above with respect to the Initial Escrow Period for each Successive Escrow Period, except that a pro rata share of any interest thereon, within 15 days after
receipt of the Pennsylvania Subscriber’s request during each Successive Escrow Period shall be paid to each applicable Pennsylvania Subscriber as well, until the occurrence of the earliest of (i) the termination of the Offering,
(ii) the receipt and acceptance by the Company of total subscriptions that equal or exceed $75.0 million and the disbursement of the Escrow Account on the terms specified in this Section 2(d), or (iii) all funds held in the Escrow
Account that were contributed by Pennsylvania Subscribers having been returned to the Pennsylvania Subscribers in accordance with the provisions hereof. Notwithstanding the foregoing, if applicable, if a subscriber has failed to remit an executed
and valid IRS Form W-9 to the Escrow Agent prior to the date the subscriber’s funds are to be returned, then the Escrow Agent shall remit an amount to the subscriber in accordance with the provisions hereof, withholding the applicable
percentage for backup withholding required by the Code, as then in effect. 

  
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 If the Company has not received total subscriptions equal to at least the Pennsylvania Minimum
Offering prior to the termination of the Offering (including amounts previously disbursed as directed by the Company and the amounts then held in the Escrow Account), then the Transfer Agent shall provide the Escrow Agent the information needed to
return the funds in the Escrow Account, together with any interest thereon, to each respective Pennsylvania Subscriber and the Escrow Agent shall promptly (but in no event later that 15 days following the termination of the Offering) create and
dispatch checks and wires drawn on the Escrow Account to return the amount of the funds in the Escrow Account, together with their pro rata share of any interest or other income earned thereon, without deduction, penalty or expense, to the
respective Pennsylvania Subscribers and the Escrow Agent shall notify the Company and the Dealer Manager of its distribution of the funds. Notwithstanding the foregoing, if applicable, if a Pennsylvania Subscriber has failed to remit an executed and
valid IRS Form W-9 to the Escrow Agent prior to the date the subscriber’s funds are to be returned, then the Escrow Agent shall remit an amount to the subscriber in accordance with the provisions hereof, withholding the applicable percentage
for backup withholding required by the Internal Revenue Code, as then in effect. The subscription payments returned to each Pennsylvania Subscriber, as applicable, shall be free and clear of any and all claims of the Company or any of its creditors.

 (e) Distribution of the Funds in the Escrow Account With Respect to Ohio Subscribers and Washington Subscribers. 

(i) Notwithstanding anything to the contrary herein, disbursements of funds contributed by Ohio Subscribers and Washington Subscribers and any
interest or other income earned thereon may only be distributed in compliance with the provisions of Section 2(d) or this Section 2(e). Irrespective of any disbursement of funds from the Escrow Account pursuant to this Section 2, the
Escrow Agent will continue to place deposits from Ohio Subscribers and Washington Subscribers into the Escrow Account, until such time as the Ohio Minimum Offering or Washington Minimum Offering, as applicable, has been raised (including amounts
previously disbursed as directed by the Company and the amounts then held in the Escrow Account), at which time the Company and the Dealer Manager will provide the Escrow Agent with written direction to deliver such funds from Ohio Subscribers or
Washington Subscribers, as applicable, and any interest or other income earned thereon from the Escrow Account as the Company shall direct. The Escrow Agent shall release such funds and any interest or other income earned thereon from the Escrow
Account as directed by the Company pursuant to written instruction that the Company shall provide to the Escrow Agent from time to time. 

(ii) If the Company has not received total subscriptions equal to at least the Ohio Minimum Offering or Washington Minimum Offering, as
applicable, prior to the termination of the Offering (including amounts previously disbursed as directed by the Company and the amounts then held in the Escrow Account), then the Transfer Agent shall provide the Escrow Agent the information needed
to return the funds in the Escrow Account, together with any interest thereon, to each respective Ohio Subscriber or Washington Subscriber, as applicable, and the Escrow Agent shall promptly (but in no event later that 30 business days following the
termination of the Offering) create and dispatch checks and wires drawn on the Escrow Account to return the amount of the funds in the Escrow Account, together with their pro rata share of any interest or other income earned thereon, without
deduction, penalty or expense, to the respective Ohio Subscribers or Washington Subscribers, as applicable, and the Escrow Agent shall notify the Company and the Dealer Manager of its distribution of the funds. Notwithstanding the foregoing, if
applicable, if an Ohio Subscriber or a Washington Subscriber has failed to remit an 

  
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executed and valid IRS Form W-9 to the Escrow Agent prior to the date the subscriber’s funds are to be returned, then the Escrow Agent shall remit an amount to the subscriber in accordance
with the provisions hereof, withholding the applicable percentage for backup withholding required by the Internal Revenue Code, as then in effect. The subscription payments returned to each Ohio Subscriber or Washington Subscriber, as applicable,
shall be free and clear of any and all claims of the Company or any of its creditors. 
 3. Funds in the Escrow Account. Upon receipt
of funds from subscribers of Shares pursuant to the Offering, the Escrow Agent shall hold such funds in escrow pursuant to the terms of this Agreement. All such funds held in the Escrow Account shall be invested, and reinvested by the Escrow Agent
without unreasonable delay, in UMB Money Market Special, an interest-bearing bank account, and any other investments permitted under Rule 15c2-4 of the Securities Exchange Act of 1934, as amended and approved in writing by the Company. 

The Escrow Agent shall be entitled to sell or redeem any such investment as necessary to make any distributions required under this Agreement
and shall not be liable or responsible for any loss resulting from any such sale or redemption. 
 Interest, if any, resulting from the
investment of the funds in the Escrow Account shall be distributed according to this Agreement. 
 The Escrow Agent shall provide to the
Company monthly statements (or more frequently as reasonably requested by the Company) on the account balance in the Escrow Account and the activities in such account since the last report. Such periodic statements shall identify the account balance
and the activities since the last report. 
 4. Duties of the Escrow Agent. The Escrow Agent shall have no duties or responsibilities
other than those expressly set forth in this Agreement, and no implied duties or obligations shall be read into this Agreement against the Escrow Agent. The Escrow Agent is not a party to, or bound by, any other agreement among the other parties
hereto with respect to the subject matter hereof, and the Escrow Agent’s duties shall be determined solely by reference to this Agreement. The Escrow Agent shall have no duty to enforce any obligation of any person, other than as provided
herein. The Escrow Agent shall be under no liability to anyone by reason of any failure on the part of any party hereto or any maker, endorser or other signatory of any document or any other person to perform such person’s obligations under any
such document. 
 5. Liability of the Escrow Agent; Indemnification. The Escrow Agent acts hereunder as a depository only. The Escrow
Agent is not responsible or liable in any manner for the sufficiency, correctness, genuineness or validity of this Agreement or with respect to the form of execution of the same. The Escrow Agent shall not be liable for any action taken or omitted
by it, or any action suffered by it to be taken or omitted, in good faith, and in the exercise of its own best judgment, and may rely conclusively and shall be protected in acting upon any order, notice, demand, certificate, opinion or advice of
counsel (including counsel chosen by the Escrow Agent), statement, instrument, report or other paper or document (not only as to its due execution and the validity and effectiveness of its provisions, but also as to the truth and acceptability of
any information therein contained) which is reasonably believed by the Escrow Agent to be genuine and to be signed or presented by the proper person(s). The Escrow Agent shall not be held liable for any error in judgment made in good faith by an
officer or employee of it unless it 

  
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shall be proved that the Escrow Agent was grossly negligent or reckless in ascertaining the pertinent facts or acted intentionally in bad faith. The Escrow Agent shall not be bound by any notice
of demand, or any waiver, modification, termination or rescission of this Agreement or any of the terms hereof, unless evidenced by a writing delivered to the Escrow Agent signed by the proper party or parties and, if the duties or rights of the
Escrow Agent are affected, unless it shall give its prior written consent thereto. 
 The Escrow Agent may consult legal counsel and shall
exercise reasonable care in the selection of such counsel, in the event of any dispute or question as to the construction of any provisions hereof or its duties hereunder, and it shall incur no liability and shall be fully protected in acting in
accordance with the reasonable opinion or instructions of such counsel. 
 The Escrow Agent shall not be responsible, may conclusively rely
upon and shall be protected, indemnified and held harmless by the Company, for the sufficiency or accuracy of the form of, or the execution, validity, value or genuineness of any document or property received, held or delivered by it hereunder, or
of the signature or endorsement thereon, or for any description therein; nor shall the Escrow Agent be responsible or liable in any respect on account of the identity, authority or rights of the persons executing or delivering or purporting to
execute or deliver any document, property or this Agreement. 
 In the event that the Escrow Agent shall become involved in any arbitration
or litigation relating to the funds in the Escrow Account, it is authorized to comply with any decision reached through such arbitration or litigation. 

The Company, hereby agrees to indemnify the Escrow Agent for, and to hold it harmless against any loss, liability or expense incurred in
connection herewith without gross negligence, recklessness or willful misconduct on the part of the Escrow Agent, including without limitation reasonable and documented legal or other fees arising out of or in connection with its entering into this
Agreement and carrying out its duties hereunder, including without limitation the costs and expenses of defending itself against any claim of liability in the premises or any action for interpleader. The Escrow Agent shall not be under any
obligation to institute or defend any action, suit, or legal proceeding in connection herewith, unless first indemnified and held harmless to its satisfaction in accordance with the foregoing, except that it shall not be indemnified against any
loss, liability or expense arising out of its own gross negligence, recklessness or willful misconduct. Such indemnity shall survive the termination or discharge of this Agreement or resignation of the Escrow Agent. 

6. The Escrow Agent’s Fee. Escrow Agent shall be entitled to fees and expenses for its regular services as Escrow Agent as set
forth in Exhibit A. Additionally, Escrow Agent is entitled to reasonable fees for extraordinary services and reimbursement of any reasonable out of pocket and extraordinary costs and expenses related to its obligations as Escrow Agent under
this Agreement, including, but not limited to, reasonable attorneys’ fees. All of the Escrow Agent’s compensation, costs and expenses shall be paid by the Company. 

7. Security Interests. No party to this Agreement shall grant a security interest in any monies or other property deposited with the
Escrow Agent under this Agreement, or otherwise create a lien, encumbrance or other claim against such monies or borrow against the same. 

  
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 8. Dispute. In the event of any disagreement between the undersigned or the person or
persons named in the instructions contained in this Agreement, or any other person, resulting in adverse claims and demands being made in connection with or for any papers, money or property involved herein, or affected hereby, the Escrow Agent
shall be entitled to refuse to comply with any demand or claim, as long as such disagreement shall continue, and in so refusing to make any delivery or other disposition of any money, papers or property involved or affected hereby, the Escrow Agent
shall not be or become liable to the undersigned or to any person named in such instructions for its refusal to comply with such conflicting or adverse demands, and the Escrow Agent shall be entitled to refuse and refrain to act until: (a) the
rights of the adverse claimants shall have been fully and finally adjudicated in a Court assuming and having jurisdiction of the parties and money, papers and property involved herein or affected hereby, or (b) all differences shall have been
adjusted by agreement and the Escrow Agent shall have been notified thereof in writing, signed by all the interested parties. 
 9.
Resignation of Escrow Agent. Escrow Agent may resign or be removed, at any time, for any reason, by written notice of its resignation or removal to the proper parties at their respective addresses as set forth herein, at least 60 days before
the date specified for such resignation or removal to take effect; upon the effective date of such resignation or removal: 
 (a) All cash
and other payments and all other property then held by the Escrow Agent hereunder shall be delivered by it to such successor escrow agent as may be designated in writing by the Company, whereupon the Escrow Agent’s obligations hereunder shall
cease and terminate; 
 (b) If no such successor escrow agent has been designated by such date, all obligations of the Escrow Agent hereunder
shall, nevertheless, cease and terminate, and the Escrow Agent’s sole responsibility thereafter shall be to keep all property then held by it and to deliver the same to a person designated in writing by the Company or in accordance with the
directions of a final order or judgment of a court of competent jurisdiction. 
 (c) Further, if no such successor escrow agent has been
designated by such date, the Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor agent; further the Escrow Agent may pay into court all monies and property deposited with Escrow Agent under this
Agreement. 
 10. Notices. All notices, demands and requests required or permitted to be given under the provisions hereof must be in
writing and shall be deemed to have been sufficiently given, upon receipt, if (i) personally delivered, (ii) sent by telecopy and confirmed by phone or (iii) mailed by registered or certified mail, with return receipt requested, or by
overnight courier with signature required, delivered to the addresses set forth below, or to such other address as a party shall have designated by notice in writing to the other parties in the manner provided by this paragraph: 

 

			
	(1) If to Company:	  	Industrial Logistics Realty Trust Inc.
		  	518 Seventeenth Street, 17th Floor
		  	Denver, Colorado 80202
		  	Telephone: (303) 228-2200
		  	Facsimile: (303) 869-4602    
		  	Attention: Joshua J. Widoff

  
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	 (2) If to the Escrow Agent:
	  	UMB Bank, N.A., as Escrow Agent for Industrial Logistics Realty Trust Inc.
		  	1010 Grand Blvd., 4th Floor
		  	Mail Stop: 1020409
		  	Kansas City, Missouri 64106
		  	Attention: Lara Stevens,
		  	Corporate Trust & Escrow Services
		  	Telephone: (816) 860-3017
		  	Facsimile: (816) 860-3029
		
		  	Escrow Agent Wiring Instructions:
		  	UMB Bank, N.A.
		  	ABA Routing Number: 101000695
		  	Account Number: 9872232569
		  	Account Name: UMB Bank Escrow Agent for Industrial Logistics Realty Trust Inc.
		
		  	Checks Payable Information:
		  	UMB Bank, N.A., as Escrow Agent for Industrial Logistics Realty Trust Inc.
		  	 Attention: Lara Stevens, Corporate Trust & Escrow Services

1010 Grand Boulevard, 4th Floor

Mail Stop 1020409
 Kansas City, Missouri 64106

		
	(3) If to Dealer Manager:	  	Dividend Capital Securities LLC
		  	518 Seventeenth Street, 12th Floor
		  	Denver, Colorado 80202
		  	Telephone: (303) (303) 228-2200
		  	Facsimile: (303) 226-9899
		  	Attn: Charles Murray

 11. Governing Law. This Agreement shall be construed and enforced in accordance with the laws of the
State of Colorado without regard to the principles of conflicts of law. 
 12. Binding Effect; Benefit. This Agreement shall be
binding upon and inure to the benefit of the permitted successors and assigns of the parties hereto. 
 13. Modification. This
Agreement may be amended, modified or terminated at any time by a writing executed by the Dealer Manager, the Company and the Escrow Agent. 

14. Assignability. This Agreement shall not be assigned by the Escrow Agent without the Company’s prior written consent. 

  
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 15. Counterparts. This Agreement may be executed in one or more counterparts, each of
which will be deemed an original, but all of which together will constitute one and the same instrument. Copies, telecopies, facsimiles, electronic files and other reproductions of original executed documents shall be deemed to be authentic and
valid counterparts of such original documents for all purposes, including the filing of any claim, action or suit in the appropriate court of law. 

16. Headings. The section headings contained in this Agreement are inserted for convenience only, and shall not affect in any way, the
meaning or interpretation of this Agreement. 
 17. Severability. This Agreement constitutes the entire agreement among the parties
and supersedes all prior and contemporaneous agreements and undertakings of the parties in connection herewith. No failure or delay of the Escrow Agent in exercising any right, power or remedy may be, or may be deemed to be, a waiver thereof; nor
may any single or partial exercise of any right, power or remedy preclude any other or further exercise of any right, power or remedy. In the event that any one or more of the provisions contained in this Agreement, shall, for any reason, be held to
be invalid, illegal or unenforceable in any respect, then to the maximum extent permitted by law, such invalidity, illegality or unenforceability shall not affect any other provision of this Agreement. 

18. Earnings Allocation; Tax Matters; Patriot Act Compliance; OFAC Search Duties. The Escrow Agent, or its agent, shall provide each
subscriber with an applicable Form 1099 for amounts paid pursuant to Section 2 in a timely manner. The Company shall provide to Escrow Agent upon the execution of this Agreement any documentation requested and any information reasonably
requested by the Escrow Agent to comply with the USA Patriot Act of 2001, as amended from time to time. The Transfer Agent shall complete an OFAC search, in compliance with its policy and procedures, of each subscription check and shall inform the
Company if a subscription check fails the OFAC search. The Dealer Manager shall provide a copy of each subscription check in order that the Transfer Agent may perform such OFAC search. 

19. Miscellaneous. This Agreement shall not be construed against the party preparing it, and shall be construed without regard to the
identity of the person who drafted it or the party who caused it to be drafted and shall be construed as if all parties had jointly prepared this Agreement and it shall be deemed their joint work product, and each and every provision of this
Agreement shall be construed as though all of the parties hereto participated equally in the drafting hereof; and any uncertainty or ambiguity shall not be interpreted against any one party. As a result of the foregoing, any rule of construction
that a document is to be construed against the drafting party shall not be applicable. 
 20. Third Party Beneficiaries. The Transfer
Agent shall be a third party beneficiary under this Agreement, entitled to enforce any rights, duties or obligations owed to it under this Agreement notwithstanding the terms of any other agreements between the Transfer Agent and any party hereto.

 21. Termination of the Escrow Agreement. This Agreement, except for Sections 5 and 9 hereof, which shall continue in effect, shall
terminate upon written notice from the Company to the Escrow Agent. Unless otherwise provided, final termination of this Agreement shall occur on 

  
 11 

 
the date that all funds held in the Escrow Account are distributed either (a) to the Company or to subscribers and the Company has informed the Escrow Agent in writing to close the Escrow
Account or (b) to a successor escrow agent upon written instructions from the Company. 
 22. Relationship of Parties. The Dealer
Manager, the Company and the Escrow Agent are unaffiliated parties, and this Agreement does not create any partnership or joint venture among them. This Agreement may be filed as exhibit to the Offering Document and the Escrow Agent and Transfer
Agent consent to being named in any such Offering Document (including exhibits and amendments thereto) in connection with the Offering. 

  
 12 

 IN WITNESS WHEREOF, the undersigned have caused this Agreement to be executed by their
duly authorized representatives as of the date first written hereinabove:  
  

			
	DEALER MANAGER:
	
	DIVIDEND CAPITAL SECURITIES LLC
		
	By:	 	 /s/ Charles Murray

	Name: Charles Murray
	Title: President
	
	COMPANY:
	
	INDUSTRIAL LOGISTICS REALTY TRUST INC.
		
	By:	 	 /s/ Thomas G. McGonagle

	Name: Thomas G. McGonagle
	Title: Chief Financial Officer
	
	ESCROW AGENT:
	
	UMB BANK, N.A.
		
	By:	 	 /s/ Lara L. Stevens

	 Name: Lara L. Stevens
 Title: Vice
President

 [Signature page to Escrow Agreement] 

 EXHIBIT A 

ESCROW FEES AND EXPENSES 
  

			
	 Acceptance Fee
	  	
	 Review escrow agreement, establish account
	  	$1,500
	 DST Agency Engagement
	  	$250
	 Annual Fees
	  	
	 Annual Escrow Agent
	  	$2,000
	 Transactional Fees
	  	
	 Outgoing Wire Transfer
	  	$15 each
	 Outgoing Checks
	  	$35 each
	 Subscription Doc Processing
	  	$25 each
	 Daily Recon File to Transfer Agent
	  	$2.50 per Bus Day
	 Wire Ripping to Transfer Agent
	  	$10 per Bus Day
	 Online UMB Direct Access
	  	$50 per month
	 Overnight Delivery/Mailings
	  	$16.50 each
	 IRS Tax Reporting
	  	$10 per 1099

 Acceptance fee and first year Annual Fees will be payable at the initiation of the escrow. Thereafter, the Annual Fees will be
billed annually in advance and Transactional Fees will be billed quarterly in arrears. Other fees and expenses will be billed as incurred. 
 Fees specified
are for the regular, routine services contemplated by the Escrow Agreement, and any additional or extraordinary services, including, but not limited to disbursements involving a dispute or arbitration, or administration while a dispute, controversy
or adverse claim is in existence, will be charged based upon time required at the then standard hourly rate. 
 All expenses related to the administration
of the Escrow Agreement such as, but not limited to, travel, postage, shipping, courier, telephone, facsimile, supplies, legal fees, accounting fees, etc., will be reimbursable.EX-10.6

 Exhibit 10.6 

INDEMNIFICATION AGREEMENT 

THIS INDEMNIFICATION AGREEMENT (“Agreement”) is made and entered into as of the [    ] day of
[            ], 20[        ] by and between Industrial Logistics Realty Trust Inc., a Maryland corporation (the
“Company”), and [            ], a director and/or officer of the Company (the “Indemnitee”). 

RECITALS 
 WHEREAS, the
interpretation of statutes, regulations and charter and bylaw provisions regarding indemnification of directors and officers may be too uncertain to provide such directors and officers with adequate notice of the legal, financial and other risks to
which they may be exposed by virtue of their service as such; and 
 WHEREAS, damages sought against directors and officers in stockholder
or similar litigation may be substantial, and the costs of defending such actions and of judgments in favor of plaintiffs or of settlement therewith may be prohibitive for individual directors and officers, without regard to the merits of a
particular action and without regard to the culpability of, or the receipt of improper personal benefit by, any named director or officer; and 

WHEREAS, the long period of time which may elapse before final disposition of such litigation may impose undue hardship and burden on a
director or officer or his estate in maintaining a proper and adequate defense of himself or his estate against claims for damages; and 

WHEREAS, the Company is organized under the Maryland General Corporation Law (the “MGCL”), and Section 2-418 of the MGCL
empowers corporations to indemnify and advance expenses of litigation to a person serving as a director, officer, employee or agent of a corporation and to persons serving at the request of the corporation, while a director of a corporation, as a
director, officer, partner, trustee, employee or agent of another foreign or domestic corporation, partnership, joint venture, trust, other enterprise or employee benefit plan, and further provides that the indemnification and advancement of
expenses set forth in the MGCL are not “exclusive of any other rights, by indemnification or otherwise, to which a director may be entitled under the charter, the bylaws, a resolution of stockholders or directors, an agreement or otherwise,
both as to action in an official capacity and as to action in another capacity while holding such office;” and 
 WHEREAS, the charter
of the Company, as it may be amended or amended and restated from time to time (the “Charter”), provides that the Company shall indemnify and hold harmless directors, officers, advisors or affiliates, as such terms are defined in
the Charter; and 
 WHEREAS, the Board of Directors of the Company (the “Board”) has concluded that it is in the best
interests of the Company to enter into an agreement to indemnify in a reasonable and adequate manner the Indemnitee and to assume for itself maximum liability for expenses and damages in connection with claims lodged against the Indemnitee for his
or her decisions and actions as a director and/or officer of the Company; 

 NOW, THEREFORE, in consideration of the foregoing, and of other good and valuable consideration,
the receipt and sufficiency of which is acknowledged by each of the parties hereto, the parties agree as follows: 
 ARTICLE I 

DEFINITIONS 
 For purposes
of this Agreement, the following terms shall have the meanings set forth below: 
 Section 1.1. “Applicable Legal
Rate” shall mean a fixed rate of interest equal to the applicable federal rate for mid-term debt instruments as of the day that it is determined that the Indemnitee must repay any advanced expenses. 

Section 1.2. “Change in Control” shall mean a change in control of the Company occurring after the Effective Date of a
nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or in response to any similar item on any similar schedule or form) promulgated under the Securities Exchange Act of 1934, as
amended (the “Exchange Act”), whether or not the Company is then subject to such reporting requirement; provided, however, that, without limitation, such a Change in Control shall be deemed to have occurred if, after the Effective
Date (a) any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of
the Company representing 15% or more of the combined voting power of all of the Company’s then-outstanding securities entitled to vote generally in the election of directors without the prior approval of at least two-thirds of the members of
the Board of Directors in office immediately prior to such person’s attaining such percentage interest; (b) the Company is a party to a merger, consolidation, sale of assets, plan of liquidation or other reorganization not approved by at
least two-thirds of the members of the Board of Directors then in office, as a consequence of which members of the Board of Directors in office immediately prior to such transaction or event constitute less than a majority of the Board of Directors
thereafter; or (c) at any time, a majority of the members of the Board of Directors are not individuals (i) who were directors as of the Effective Date or (ii) whose election by the Board of Directors or nomination for election by the
Company’s stockholders was approved by the affirmative vote of at least two-thirds of the directors then in office who were directors as of the Effective Date or whose election or nomination for election was previously so approved. 

Section 1.3. “Corporate Status” shall mean the status of a person who is or was a director, officer, employee or agent
of the Company, or a member of any committee of the Board, and the status of a person who, while a director, officer, employee or agent of the Company, is or was serving at the request of the Company as a director, trustee, officer, partner
(including service as a general partner of any limited partnership), manager, managing member, fiduciary, employee or agent of another foreign or domestic corporation, real estate investment trust, partnership, limited liability company, joint
venture, trust, other incorporated or unincorporated entity or enterprise or employee benefit plan. As a clarification and without limiting the circumstances in which the Indemnitee may be serving at the request of the

  
 -2- 

 
Company, service by the Indemnitee shall be deemed to be at the request of the Company: (a) if the Indemnitee serves or served as a director, trustee, officer, partner, manager, managing
member, fiduciary, employee or agent of any corporation, real estate investment trust, partnership, limited liability company, joint venture, trust or other incorporated or unincorporated entity or enterprise (i) of which a majority of the
voting power or equity interest is owned directly or indirectly by the Company or (ii) the management of which is controlled directly or indirectly by the Company, or (b) if, as a result of the Indemnitee’s service to the Company or
any of its affiliated entities, the Indemnitee is subject to duties by, or required to perform services for, an employee benefit plan or its participants or beneficiaries, including as a deemed fiduciary thereof. 

Section 1.4. “Disinterested Director” shall mean a director of the Company who neither is nor was a party to the
Proceeding in respect of which indemnification and/or advance of Expenses is being sought by the Indemnitee. 
 Section 1.5.
“Effective Date” shall mean the date set forth in the first paragraph of this Agreement. 
 Section 1.6.
“Expenses” shall mean without limitation expenses of Proceedings including all attorneys’ fees, retainers, court costs, transcript costs, fees of experts, investigation fees and expenses, accounting and witness fees, travel
expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, federal, state, local or foreign taxes imposed on the Indemnitee as a result of the actual or deemed receipt of any payments under this
Agreement and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating or being or preparing to be a witness in or otherwise participating in a
Proceeding. “Expenses” shall also include Expenses incurred in connection with any appeal resulting from any Proceeding including, without limitation, the premium for, security for and other costs relating to any cost bond, supersedeas
bond or other appeal bond or its equivalent. 
 Section 1.7. “Independent Counsel” shall mean a law firm, or a member
of a law firm, that is experienced in matters of corporation law and neither is, nor in the past five years has been, retained to represent: (a) the Company or the Indemnitee in any matter material to either such party (other than with respect
to matters concerning the Indemnitee under this Agreement or of other indemnitees under similar indemnification agreements), or (b) any other party to or participant or witness in the Proceeding giving rise to a claim for indemnification or
advance of Expenses hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in
representing either the Company or the Indemnitee in an action to determine the Indemnitee’s rights under this Agreement. 

Section 1.8. “Liabilities” shall mean liabilities of any type whatsoever, including, without limitation, any judgments,
fines, excise taxes and penalties under the Employee Retirement Income Security Act of 1974, as amended, penalties and amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection with or in respect
of such judgments, fines, penalties or amounts paid in settlement) in connection with the investigation, defense, settlement or appeal of any Proceeding or any claim, issue or matter therein. 

  
 -3- 

 Section 1.9. “Proceeding” shall mean any threatened, pending or completed
action, suit, arbitration, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought by or in the right of the Company or otherwise and whether of
a civil (including intentional or unintentional tort claims), criminal, administrative or investigative (formal or informal) nature, including any appeal therefrom, except one pending or completed on or before the Effective Date, unless otherwise
specifically agreed in writing by the Company and the Indemnitee. If the Indemnitee reasonably believes that a given situation may lead to or culminate in the institution of a Proceeding, such situation shall also be considered a Proceeding. 

ARTICLE II 
 TERMINATION
OF AGREEMENT 
 This Agreement shall continue until, and terminate upon the later to occur of (a) the date that the Indemnitee
shall have ceased to serve as a director, officer, employee or agent of the Company or as a director, trustee, officer, partner, manager, managing member, fiduciary, employee or agent of any other foreign or domestic corporation, real estate
investment trust, partnership, limited liability company, joint venture, trust, other incorporated or unincorporated entity or enterprise or employee benefit plan that such person is or was serving in such capacity at the request of the Company and
(b) the date that the Indemnitee is no longer subject to any actual or possible Proceeding (including any rights of appeal thereto and any Proceeding commenced by the Indemnitee pursuant to Section 6.3 of this Agreement). 

ARTICLE III 
 SERVICE BY
INDEMNITEE, NOTICE OF PROCEEDINGS 
 AND DEFENSE OF CLAIMS 

Section 3.1. Service by Indemnitee. Indemnitee will serve as a director or officer of the Company. However, this Agreement shall
not impose any independent obligation on Indemnitee or the Company to continue Indemnitee’s service to the Company. This Agreement shall not be deemed an employment contract between the Company (or any other entity) and Indemnitee. 

Section 3.2. Notice of Proceedings. The Indemnitee shall notify the Company promptly in writing upon being served with any
summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification or advancement of Expenses covered hereunder and shall include with such notice a
description of the nature of the Proceeding and a summary of the facts underlying the Proceeding, but the Indemnitee’s failure to so notify the Company shall not disqualify the Indemnitee from the right, or otherwise affect in any manner any
right of the Indemnitee, to indemnification or the advance of Expenses under this Agreement unless the Company’s ability to defend in such proceeding or to obtain proceeds under any insurance policy is materially and adversely prejudiced
thereby, and then only to the extent the Company is thereby actually prejudiced. 

  
 -4- 

 Section 3.3. Defense of Claims. The Company shall have the right to defend the
Indemnitee in any Proceeding (except a Proceeding brought by the Indemnitee under Section 6.3 of this Agreement) which may give rise to indemnification hereunder; provided, however, that the Company shall notify the Indemnitee of any such
decision to defend within 15 calendar days following receipt of notice of any such Proceeding under Section 3.2 above. Notwithstanding the foregoing sentence, if in a Proceeding to which the Indemnitee is a party by reason of the
Indemnitee’s Corporate Status, (a) the Indemnitee reasonably concludes, based upon an opinion of counsel approved by the Company, which approval shall not be unreasonably withheld or delayed, that he or she may have separate defenses or
counterclaims to assert with respect to any issue which may not be consistent with other defendants in such Proceeding, (b) the Indemnitee reasonably concludes, based upon an opinion of counsel approved by the Company, which approval shall not
be unreasonably withheld or delayed, that an actual or apparent conflict of interest or potential conflict of interest exists between the Indemnitee and the Company, or (c) if the Company fails to assume the defense of such Proceeding in a
timely manner, the Indemnitee shall be entitled to be represented by separate legal counsel of the Indemnitee’s choice, subject to the prior approval of the Company, which approval shall not be unreasonably withheld or delayed, at the expense
of the Company. In addition, if the Company fails to comply with any of its obligations under this Agreement or in the event that the Company or any other person takes any action to declare this Agreement void or unenforceable, or institutes any
Proceeding to deny or to recover from the Indemnitee the benefits intended to be provided to the Indemnitee hereunder, the Indemnitee shall have the right to retain counsel of the Indemnitee’s choice, subject to the prior approval of the
Company, which approval shall not be unreasonably withheld or delayed, at the expense of the Company (subject to Section 6.4 of this Agreement), to represent the Indemnitee in connection with any such matter. 

Section 3.4. Settlement of Claims. The Company shall not, without the prior written consent of the Indemnitee, which shall not be
unreasonably withheld or delayed, consent to the entry of any judgment against the Indemnitee or enter into any settlement or compromise which (a) includes an admission of fault of the Indemnitee, (b) does not include, as an unconditional
term thereof, the full release of the Indemnitee from all Liability in respect of such Proceeding, which release shall be in form and substance reasonably satisfactory to the Indemnitee, or (c) would impose any Expense or Liability on
Indemnitee. 
 ARTICLE IV 

INDEMNIFICATION 

Section 4.1. General. Upon the terms and subject to the limitations set forth in this Agreement, the Company shall indemnify, and
advance Expenses to, the Indemnitee (a) as provided in this Agreement and (b) as otherwise permitted by Maryland law in effect on the Effective Date and as amended from time to time; provided, however, that no change in Maryland law shall
have the effect of reducing the benefits available to the Indemnitee hereunder based on Maryland law as in effect on the Effective Date. Subject to the limitations set forth in this Agreement, the rights of the Indemnitee provided in this
Section 4.1 shall include, without limitation, the rights set forth in the other sections of this Agreement, including any additional indemnification permitted by Section 2-418(g) of the MGCL. 

  
 -5- 

 Section 4.2. Standard for Indemnification. Subject to the limitations in
Section 4.5, if, by reason of the Indemnitee’s Corporate Status, the Indemnitee is, or is threatened to be, made a party to any Proceeding, the Indemnitee shall be indemnified against all Liabilities and all Expenses actually and
reasonably incurred by him or her or on his or her behalf in connection with any such Proceeding unless it is established by clear and convincing evidence that (a) the act or omission of the Indemnitee was material to the matter giving rise to
the Proceeding and (i) was committed in bad faith or (ii) was the result of active and deliberate dishonesty, (b) the Indemnitee actually received an improper personal benefit in money, property or services or (c) in the case of
any criminal Proceeding, the Indemnitee had reasonable cause to believe that his or her conduct was unlawful. 
 Section 4.3.
Indemnification of a Party Who is Wholly or Partly Successful. Subject to the limitations in Section 4.5, to the extent that the Indemnitee was or is, by reason of the Indemnitee’s Corporate Status, a party to (or otherwise becomes
a participant in) any Proceeding and is successful, on the merits or otherwise, in the defense of such Proceeding, the Indemnitee shall be indemnified by the Company against all Expenses and Liabilities actually and reasonably incurred by or for him
or her in connection therewith. If the Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall
indemnify the Indemnitee against all Expenses and Liabilities actually and reasonably incurred by or for him or her in connection with each successfully resolved claim, issue or matter in such Proceeding, allocated on a reasonable and proportionate
basis. The termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed a successful result as to such claim, issue or matter. 

Section 4.4. Indemnification and Advance of Expenses as Witness or Other Participant. Subject to the limitations in
Section 4.5, to the extent that the Indemnitee is or may be, by reason of the Indemnitee’s Corporate Status, made a witness or otherwise asked to participate in any Proceeding, whether instituted by the Company or any other party, and to
which the Indemnitee is not a party, he or she shall be advanced all reasonable Expenses and indemnified against all Expenses actually and reasonably incurred by him or her or on his or her behalf in connection therewith within ten days after the
receipt by the Company of a statement or statements requesting any such advance or indemnification from time to time, whether prior to or after final disposition of such Proceeding. Such statement or statements shall reasonably evidence the Expenses
incurred by the Indemnitee. In connection with any such advance of Expenses, the Company may require the Indemnitee to provide an affirmation and undertaking substantially in the form attached hereto as Exhibit A. 

Section 4.5. Specific Limitations on Indemnification. Except as set forth in Section 4.6 and notwithstanding anything else in
this Agreement to the contrary, the Indemnitee shall not be entitled to: 
 (a) indemnification for any loss or liability
unless all of the following conditions are met: (i) the Indemnitee has determined, in good faith, that the course of 

  
 -6- 

 
conduct that caused the loss or liability was in the best interests of the Company; (ii) the Indemnitee was acting on behalf of or performing services for the Company; (iii) such loss
or liability was not the result of negligence or misconduct, or, if the Indemnitee is an independent director, gross negligence or willful misconduct; and (iv) such indemnification is recoverable only out of the Company’s net assets and
not from the Company’s stockholders; 
 (b) indemnification for any loss or liability arising from an alleged violation
of federal or state securities laws unless one or more of the following conditions are met: (i) there has been a successful adjudication on the merits of each count involving alleged securities law violations as to the Indemnitee;
(ii) such claims have been dismissed with prejudice on the merits by a court of competent jurisdiction as to the Indemnitee; or (iii) a court of competent jurisdiction approves a settlement of the claims against the Indemnitee and finds
that indemnification of the settlement and the related costs should be made, and the court considering the request for indemnification has been advised of the position of the Securities and Exchange Commission and of the published position of any
state securities regulatory authority in which securities of the Company were offered or sold as to indemnification for violations of securities laws; 

(c) indemnification hereunder if the Proceeding was one by or in the right of the Company and the Indemnitee is adjudged, in a
final adjudication of the Proceeding not subject to further appeal, to be liable to the Company; 
 (d) indemnification
hereunder if the Indemnitee is adjudged, in a final adjudication of the Proceeding not subject to further appeal, to be liable on the basis that personal benefit was improperly received in any Proceeding charging improper personal benefit to the
Indemnitee, whether or not involving action in the Indemnitee’s Corporate Status; or 
 (e) indemnification or advance
of Expenses hereunder if the Proceeding was brought by the Indemnitee, unless: (i) the Proceeding was brought to enforce indemnification under this Agreement, and then only to the extent in accordance with and as authorized by Section 6.4
of this Agreement, or (ii) the Charter, the Company’s bylaws, as the same may be in effect from time to time (the “Bylaws”), a resolution of the stockholders entitled to vote generally in the election of directors or of
the Board of Directors or an agreement approved by the Board of Directors to which the Company is a party expressly provide otherwise. 

Section 4.6. Court-Ordered Indemnification. Subject to the limitations in Section 4.5(a) and (b), a court of appropriate
jurisdiction, upon application of the Indemnitee and such notice as the court shall require, may order indemnification of Indemnitee by the Company in the following circumstances, which order shall not be subject to the limitations in
Section 4.5(c), (d) and (e): 
 (a) if such court determines that the Indemnitee is entitled to reimbursement under
Section 2-418(d)(1) of the MGCL, the court shall order indemnification, in which case the Indemnitee shall be entitled to recover the Expenses of securing such reimbursement; or 

  
 -7- 

 (b) if such court determines that the Indemnitee is fairly and reasonably
entitled to indemnification in view of all the relevant circumstances, whether or not the Indemnitee (i) has met the standards of conduct set forth in Section 2-418(b) of the MGCL or (ii) has been adjudged liable for receipt of an
improper personal benefit under Section 2-418(c) of the MGCL, the court may order such indemnification as the court shall deem proper without regard to any limitations on such court-ordered indemnification contemplated by
Section 2-418(d)(2)(ii) of the MGCL. 
 ARTICLE V 

ADVANCEMENT OF EXPENSES 

If by reason of the Indemnitee’s Corporate Status, the Indemnitee is, or is threatened to be, made a party to any Proceeding, the Company
shall, without requiring a preliminary determination of the Indemnitee’s ultimate entitlement to indemnification hereunder, advance all reasonable Expenses incurred by or on behalf of the Indemnitee in connection with (a) such Proceeding
which is initiated by a third party who is not a stockholder of the Company, or (b) such Proceeding which is initiated by a stockholder of the Company acting in his or her capacity as such and for which a court of competent jurisdiction
specifically approves such advancement, and which relates to acts or omissions with respect to the performance of duties or services on behalf of the Company. Such advance or advances shall be made within ten days after the receipt by the Company of
a statement or statements requesting such advance or advances from time to time, whether prior to or after final disposition of such Proceeding and may be in the form of, in the reasonable discretion of the Indemnitee (but without duplication),
(a) payment of such Expenses directly to third parties on behalf of the Indemnitee, (b) advancement to the Indemnitee of funds in an amount sufficient to pay such Expenses or (c) reimbursement to the Indemnitee for the
Indemnitee’s payment of such Expenses. Such statement or statements shall reasonably evidence the Expenses incurred by the Indemnitee and shall include or be preceded or accompanied by a written affirmation by the Indemnitee of the
Indemnitee’s good faith belief that the standard of conduct necessary for indemnification by the Company as authorized by law and by this Agreement has been met and a written undertaking (the “Undertaking”) by or on behalf of
the Indemnitee, in substantially the form attached hereto as Exhibit A or in such form as may be required under applicable law as in effect at the time of the execution thereof, to reimburse the portion of any Expenses advanced to the
Indemnitee, together with the Applicable Legal Rate of interest thereon, relating to claims, issues or matters in the Proceeding as to which it shall ultimately be established, by clear and convincing evidence, that the standard of conduct has not
been met by the Indemnitee and which have not been successfully resolved as described in Section 4.3 of this Agreement. To the extent that Expenses advanced to the Indemnitee do not relate to a specific claim, issue or matter in the Proceeding,
such Expenses shall be allocated on a reasonable and proportionate basis. The Undertaking required by this Article V shall be an unlimited general obligation by or on behalf of the Indemnitee and shall be accepted without reference to the
Indemnitee’s financial ability to repay such advanced Expenses and without any requirement to post security therefor. 

  
 -8- 

 ARTICLE VI  

PROCEDURE FOR PAYMENT OF LIABILITIES; 

DETERMINATION OF RIGHT TO INDEMNIFICATION 

Section 6.1. Procedure for Payment. To obtain indemnification for Liabilities under this Agreement, the Indemnitee shall submit to
the Company a written request for payment, including with such request such documentation as is reasonably available to the Indemnitee and reasonably necessary to determine whether, and to what extent, the Indemnitee is entitled to indemnification
and payment hereunder. The Indemnitee may submit one or more such requests from time to time and at such time(s) as the Indemnitee deems appropriate in his or her sole discretion. The officer of the Company receiving any such request from the
Indemnitee, promptly upon receipt of the request, shall advise the Board of Directors, in writing, of such request. 
 Section 6.2.
Determination of Entitlement to Indemnification. Upon written request by the Indemnitee for indemnification pursuant to Section 6.1 above, a determination, if required by applicable law, with respect to the Indemnitee’s entitlement
thereto shall promptly be made in the specific case: (a) if a Change in Control shall have occurred, by Independent Counsel, in a written opinion to the Board of Directors, a copy of which shall be delivered to the Indemnitee, which Independent
Counsel shall be selected by the Indemnitee and approved by the Board of Directors in accordance with Section 2-418(e)(2)(ii) of the MGCL, which approval will not be unreasonably withheld; or (b) if a Change in Control shall not have
occurred, (i) by the Board of Directors by a majority vote of a quorum consisting of Disinterested Directors or, if such a quorum cannot be obtained, then by a majority vote of a duly authorized committee of the Board of Directors consisting
solely of one or more Disinterested Directors, (ii) if Independent Counsel has been selected by the Board of Directors in accordance with Section 2-418(e)(2)(ii) of the MGCL and approved by the Indemnitee, which approval shall not be
unreasonably withheld, by Independent Counsel, in a written opinion to the Board of Directors, a copy of which shall be delivered to the Indemnitee or (iii) if so directed by a majority of the members of the Board of Directors, by the
stockholders of the Company other than the Indemnitee, if the Indemnitee is also a stockholder of the Company. If it is so determined that the Indemnitee is entitled to indemnification, payment to the Indemnitee shall be made within ten days after
such determination. The Indemnitee shall cooperate with the person, persons or entity making such determination with respect to the Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity upon
reasonable advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to the Indemnitee and reasonably necessary to such determination in the discretion of the
Board of Directors or Independent Counsel if retained pursuant to clause (b)(ii) of this Section 6.2. Any Expenses incurred by the Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the
Company (irrespective of the determination as to the Indemnitee’s entitlement to indemnification) and the Company shall indemnify and hold the Indemnitee harmless therefrom. The Company shall pay the reasonable fees and expenses of Independent
Counsel, if one is appointed. 

  
 -9- 

 Section 6.3. Remedies of Indemnitee. 

(a) If (i) a determination is made pursuant to Section 6.2 of this Agreement that the Indemnitee is not entitled to
indemnification under this Agreement, (ii) advance of Expenses is not timely made pursuant to Section 4.4 or Article V of this Agreement, (iii) no determination of entitlement to indemnification shall have been made pursuant to
Section 6.2 of this Agreement within 60 days after receipt by the Company of the request for indemnification, (iv) payment of indemnification is not made pursuant to Section 4.3 or 4.4 of this Agreement within ten days after receipt
by the Company of a written request therefor, or (v) payment of indemnification pursuant to any other section of this Agreement or the Charter or Bylaws is not made within ten days after a determination has been made that the Indemnitee is
entitled to indemnification, the Indemnitee shall be entitled to an adjudication in an appropriate court located in the State of Maryland, or in any other court of competent jurisdiction, of his or her entitlement to such indemnification or advance
of Expenses. Alternatively, the Indemnitee, at his or her option, may seek an award in arbitration to be conducted by a single arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration Association. The Indemnitee shall
commence a proceeding seeking an adjudication or an award in arbitration within 180 days following the date on which the Indemnitee first has the right to commence such proceeding pursuant to this Section 6.3(a); provided, however, that the
foregoing clause shall not apply to a proceeding brought by the Indemnitee to enforce his or her rights under Section 4.3 of this Agreement. Except as set forth herein, the provisions of Maryland law (without regard to its conflicts of laws
rules) shall apply to any such arbitration. The Company shall not oppose the Indemnitee’s right to seek any such adjudication or award in arbitration. 

(b) In any judicial proceeding or arbitration commenced pursuant to this Section 6.3, the Indemnitee shall be presumed to
be entitled to indemnification or advance of Expenses, as the case may be, under this Agreement and the Company shall have the burden of proving that the Indemnitee is not entitled to indemnification or advance of Expenses, as the case may be. If
the Indemnitee commences a judicial proceeding or arbitration pursuant to this Section 6.3, the Indemnitee shall not be required to reimburse the Company for any advances pursuant to Article V of this Agreement until a final determination is
made with respect to the Indemnitee’s entitlement to indemnification (as to which all rights of appeal have been exhausted or lapsed). The Company shall, to the fullest extent not prohibited by law, be precluded from asserting in any judicial
proceeding or arbitration commenced pursuant to this Section 6.3 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court or before any such arbitrator that the Company
is bound by all of the provisions of this Agreement. 
 (c) If a determination shall have been made pursuant to
Section 6.2 of this Agreement that the Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 6.3, absent a misstatement by
the Indemnitee of a material fact, or an omission of a material fact necessary to make the Indemnitee’s statement not materially misleading, in connection with the request for indemnification. 

  
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 Section 6.4. Expenses under this Agreement. In the event that the Indemnitee is
successful in seeking, pursuant to Section 6.3, a judicial adjudication of or an award in arbitration to enforce his or her rights under, or to recover damages for breach of, this Agreement, the Indemnitee shall be entitled to recover from the
Company, and shall be indemnified by the Company for, any and all Expenses actually and reasonably incurred by him or her in such judicial adjudication or arbitration. If it shall be determined in such judicial adjudication or arbitration that the
Indemnitee is entitled to receive part but not all of the indemnification or advance of Expenses sought, the Expenses incurred by the Indemnitee in connection with such judicial adjudication or arbitration shall be appropriately prorated. 

Section 6.5. Interest. Interest shall be paid by the Company to the Indemnitee at the maximum rate allowed to be charged for
judgments under the Courts and Judicial Proceedings Article of the Annotated Code of Maryland for amounts which the Company pays or is obligated to pay for the period (a) commencing with either the tenth day after the date on which the Company
was requested to advance Expenses in accordance with Section 4.4 or Article V of this Agreement or the 60th day after the date on which the Company was requested to make the determination of
entitlement to indemnification under Section 6.2 of this Agreement, as applicable, and (b) ending on the date such payment is made to the Indemnitee by the Company. 

ARTICLE VII 

PRESUMPTIONS AND EFFECT OF CERTAIN PROCEEDINGS 

Section 7.1. Burden of Proof. In making a determination with respect to entitlement to indemnification hereunder, the person,
persons, entity or entities making such determination shall presume that the Indemnitee is entitled to indemnification under this Agreement if the Indemnitee has submitted a request for indemnification in accordance with Section 6.1 of this
Agreement, and the Company shall have the burden of proof to overcome that presumption in connection with the making of any determination contrary to that presumption. 

Section 7.2. Effect of Other Proceedings. The termination of any Proceeding or of any claim, issue or matter therein, by judgment,
order, settlement or conviction, upon a plea of nolo contendere or its equivalent, or entry of an order of probation prior to judgment, does not create a presumption that the Indemnitee did not meet the requisite standard of conduct described
herein for indemnification. 
 Section 7.3. Reliance as Safe Harbor. For purposes of any determination of whether any act or
omission of the Indemnitee met the requisite standard of conduct described herein for indemnification, each act of the Indemnitee shall be deemed to be have met such standard if the Indemnitee’s action is based on the records or books of
accounts of the Company, including financial statements, or on information supplied to the Indemnitee by the officers of the Company in the course of their duties, or on the advice of legal counsel for the Company or on information or records given
or reports made to the Company by an independent certified public accountant or by an appraiser or other expert selected with reasonable care by the Company. The provisions of this Section 7.3 shall not be deemed to be exclusive or to limit in
any way the other circumstances in which the Indemnitee may be deemed to have met the applicable standard of conduct set forth in this Agreement or under applicable law. 

  
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 Section 7.4. Actions of Others. The knowledge and/or actions, or failure to act, of
any other director, officer, agent or employee of the Company or any other director, trustee, officer, partner, manager, managing member, fiduciary, employee or agent of any other foreign or domestic corporation, partnership, limited liability
company, joint venture, trust, other incorporated or unincorporated entity or enterprise or employee benefit plan shall not be imputed to the Indemnitee for purposes of determining the right to indemnification under this Agreement. 

ARTICLE VIII 

INSURANCE; COORDINATION OF PAYMENTS; CONTRIBUTION 

The Company will use commercially reasonable efforts to acquire directors and officers liability insurance, on terms and conditions deemed
appropriate by the Board of Directors, with the advice of counsel, covering the Indemnitee or any claim made against the Indemnitee by reason of his or her Corporate Status and covering the Company for any indemnification or advance of Expenses made
by the Company to the Indemnitee for any claims made against the Indemnitee by reason of his or her Corporate Status. In the event of a Change in Control, the Company will use commercially reasonable efforts to maintain in force any and all
directors and officers liability insurance policies that were maintained by the Company immediately prior to the Change in Control for a period of six years with the insurance carrier or carriers and through the insurance broker in place at the time
of the Change in Control; provided, however, (i) if the carriers will not offer the same policy and an expiring policy needs to be replaced, a policy substantially comparable in scope and amount shall be obtained and (ii) if any
replacement insurance carrier is necessary to obtain a policy substantially comparable in scope and amount, such insurance carrier shall have an AM Best rating that is the same or better than the AM Best rating of the existing insurance carrier.
Without in any way limiting any other obligation under this Agreement, the Company shall indemnify the Indemnitee for any payment by the Indemnitee arising out of the amount of any deductible or retention and the amount of any excess of the
aggregate of all Liabilities and Expenses incurred by the Indemnitee in connection with a Proceeding over the coverage of any insurance referred to in the previous sentence. The purchase, establishment and maintenance of any such insurance shall not
in any way limit or affect the rights or obligations of the Company or the Indemnitee under this Agreement except as expressly provided herein, and the execution and delivery of this Agreement by the Company and the Indemnitee shall not in any way
limit or affect the rights or obligations of the Company under any such insurance policies. If, at the time the Company receives notice from any source of a Proceeding to which the Indemnitee is a party or a participant (as a witness or otherwise),
the Company has director and officer liability insurance in effect, the Company shall give prompt notice of such Proceeding to the insurers in accordance with the procedures set forth in the respective policies. The Indemnitee shall cooperate with
the Company or any insurance carrier of the Company with respect to any Proceeding. The Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable or payable or reimbursable as Expenses hereunder if and
to the extent that the Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise. If the indemnification provided in this Agreement is unavailable in whole or in part and may not be paid to
the Indemnitee for any reason, other than for failure to satisfy the standard of conduct set forth in Section 4.2 or due to the provisions of Section 4.5, then, with respect to any Proceeding in which the Company is jointly liable with the
Indemnitee (or would be if joined in such 

  
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Proceeding), to the fullest extent permissible under applicable law, the Company, in lieu of indemnifying and holding harmless the Indemnitee, shall pay, in the first instance, the entire amount
incurred by the Indemnitee, whether for Expenses, judgments, penalties, and/or amounts paid or to be paid in settlement, in connection with any Proceeding without requiring the Indemnitee to contribute to such payment, and the Company hereby waives
and relinquishes any right of contribution it may have at any time against the Indemnitee. 
 ARTICLE IX 

MISCELLANEOUS 

Section 9.1. Non-Exclusivity. The rights of the Indemnitee hereunder shall not be deemed exclusive of any other rights to which
the Indemnitee may at any time be entitled under any provision of law, the Charter, the Bylaws, any agreement or a resolution of stockholders entitled to vote generally in the election of directors or of the Board of Directors, or otherwise, and to
the extent that during the term of this Agreement the rights of the then-existing directors and officers of the Company are more favorable to such directors or officers than the rights currently provided to the Indemnitee under this Agreement, the
Indemnitee shall be entitled to the full benefits of such more favorable rights. Unless consented to in writing by the Indemnitee, no amendment, alteration, rescission or replacement of this Agreement or any provision hereof which would in any way
limit the benefits and protections afforded to an Indemnitee hereby shall be effective as to such Indemnitee with respect to any action or inaction by such Indemnitee in the Indemnitee’s Corporate Status prior to such amendment, alteration,
rescission or replacement, regardless of whether a claim with respect to such action or inaction is raised prior or subsequent to such amendment, alteration, rescission or replacement. No right or remedy herein conferred is intended to be exclusive
of any other right or remedy, and every other right or remedy shall be cumulative and in addition to every other right or remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion of any right or remedy
hereunder, or otherwise, shall not prohibit the concurrent assertion or employment of any other right or remedy. 
 Section 9.2.
Subrogation. In the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of the Indemnitee, who shall execute all documents required and take all action
necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights. 

Section 9.3. Reports to Stockholders. To the extent required by the MGCL, the Company shall report in writing to its stockholders
the payment of any amounts for indemnification of, or advance of Expenses to, the Indemnitee under this Agreement arising out of a Proceeding by or in the right of the Company with the notice of the meeting of stockholders of the Company next
following the date of the payment of any such indemnification or advance of Expenses or prior to such meeting. 
 Section 9.4.
Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given (i) if delivered by hand, by courier or by telegram and receipted for by the party to whom said
notice or other communication shall have been directed at the time indicated on such receipt; (ii) if by facsimile at the time shown on the confirmation of such facsimile transmission; or (iii) if by U.S. certified or registered mail, with
postage prepaid, on the third business day after the date on which it is so mailed: 

  
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 If to the Indemnitee, as shown with the Indemnitee’s signature below. 

If to the Company, to: 

Industrial Logistics Realty Trust Inc. 

518 17th street, 17th Floor 

Denver, CO 80202 
 Attention:
General Counsel 
 Facsimile No. (303) 869-4602 

or to such other address as may have been furnished to the Indemnitee by the Company or to the Company by the Indemnitee, as the case may be. 

Section 9.5. Governing Law. This Agreement shall be governed by, and construed and enforced in accordance with, the substantive
laws of the State of Maryland, without application of the conflict of laws principles thereof. 
 Section 9.6. Binding Effect.
Except as otherwise provided in this Agreement, this Agreement shall be binding upon and be enforceable by the parties hereto and their respective successors and assigns (including any direct or indirect successor by purchase, merger, consolidation
or otherwise to all or substantially all of the business or assets of the Company), shall continue to the extent provided in Article II above as to an Indemnitee who has ceased to be a director, officer, employee or agent of the Company or a
director, trustee, officer, partner, manager, managing member, fiduciary, employee or agent of any other foreign or domestic corporation, partnership, limited liability company, joint venture, trust, other incorporated or unincorporated entity or
enterprise or employee benefit plan that such person is or was serving in such capacity at the request of the Company, and shall inure to the benefit of the Indemnitee and his or her spouse, assigns, heirs, devisees, executors and administrators and
other legal representatives. The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all, substantially all or a substantial part, of the business and/or assets of the
Company, by written agreement in form and substance satisfactory to the Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession
had taken place. 
 Section 9.7. Equitable Relief. The Company and the Indemnitee agree herein that a monetary remedy for breach
of this Agreement, at some later date, may be inadequate, impracticable and difficult of proof, and further agree that such breach may cause the Indemnitee irreparable harm. Accordingly, the parties hereto agree that the Indemnitee may enforce this
Agreement by seeking injunctive relief and/or specific performance hereof, without any necessity of showing actual damage or irreparable harm and that by seeking injunctive relief and/or specific performance, the Indemnitee shall not be precluded
from seeking or obtaining 

  
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any other relief to which he may be entitled. The Indemnitee shall further be entitled to such specific performance and injunctive relief, including temporary restraining orders, preliminary
injunctions and permanent injunctions, without the necessity of posting bonds or other undertakings in connection therewith. The Company acknowledges that, in the absence of a waiver, a bond or undertaking may be required of the Indemnitee by a
court, and the Company hereby waives any such requirement of such a bond or undertaking. 
 Section 9.8. Waiver. No termination,
cancellation, modification, amendment, deletion, addition or other change in this Agreement, or any provision hereof, or waiver of any right or remedy herein, shall be effective for any purpose unless specifically set forth in a writing signed by
the party or parties to be bound thereby. The waiver of any right or remedy with respect to any occurrence on one occasion shall not be deemed a waiver of such right or remedy with respect to such occurrence on any other occasion. 

Section 9.9. Entire Agreement. This Agreement, constitutes the entire agreement and understanding among the parties hereto in
reference to the subject matter hereof; provided, however, that the parties acknowledge and agree that the Charter contains provisions on the subject matter hereof and that this Agreement is not intended to, and does not, limit the rights or
obligations of the parties hereto pursuant to such Charter. 
 Section 9.10. Titles. The titles to the articles and sections of
this Agreement are inserted for convenience of reference only and should not be deemed a part hereof or affect the construction or interpretation of any provisions hereof. 

Section 9.11. Invalidity of Provisions. If any provision or provisions of this Agreement shall be held to be invalid, illegal or
unenforceable for any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including, without limitation, each portion of any Article, Section, paragraph or sentence of this Agreement
containing any such provision held to be invalid, illegal or unenforceable that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and shall remain enforceable to the fullest extent permitted by
law; (b) such provision or provisions shall be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent possible, the provisions
of this Agreement (including, without limitation, each portion of any Article, Section, paragraph or sentence of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or
unenforceable) shall be construed so as to give effect to the intent manifested thereby. 
 Section 9.12. Pronouns and Plurals.
Whenever the context may require, any pronoun used in this Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural and vice versa. 

Section 9.13. Counterparts. This Agreement may be executed in one or more counterparts (delivery of which may be by facsimile or
in e-mail as a portable delivery format (.pdf) or other electronic format), each of which shall be deemed an original, but all of which together constitute one agreement binding on all the parties hereto. One such counterpart signed by the party
against whom enforceability is sought shall be sufficient to evidence the existence of this Agreement. 
 [Signature page follows.]

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first
above written. 
  

			
	INDUSTRIAL LOGISTICS REALTY TRUST INC.
		
	By:	 	  

		 	Name:
		 	Title:
	
	INDEMNITEE
	
	  

 EXHIBIT A 

FORM OF UNDERTAKING TO REPAY EXPENSES ADVANCED 

The Board of Directors of Industrial Logistics Realty Trust Inc. 

Re: Undertaking to Repay Expenses Advanced 
 Ladies and
Gentlemen: 
 This undertaking is being provided pursuant to that certain Indemnification Agreement dated the
[            ] day of [            ], 20[    ], by and between Industrial Logistics
Realty Trust Inc. and the undersigned Indemnitee (the “Indemnification Agreement”), pursuant to which I am entitled to advancement of Expenses in connection with [Description of Proceeding] (the “Proceeding”). 

Terms used herein and not otherwise defined shall have the meanings specified in the Indemnification Agreement. 

I am subject to the Proceeding by reason of my Corporate Status or by reason of alleged actions or omissions by me in such capacity. I hereby
affirm my good faith belief that at all times, insofar as I was involved as a director or officer of the Company, in any of the facts or events giving rise to the Proceeding, (1) I did not act with bad faith or active or deliberate dishonesty,
(2) I did not receive any improper personal benefit in money, property or services, (3) in the case of any criminal proceeding, I had no reasonable cause to believe that any act or omission by me was unlawful, (4) my course of conduct
was in the best interests of the Company, (5) I was acting on behalf of or performing services for the Company, and (6) no act or omission by me constituted [negligence] [gross negligence] or [misconduct] [willful misconduct]. 

In consideration of the advance of Expenses by the Company for reasonable attorneys’ fees and related Expenses incurred by me in
connection with the Proceeding (the “Advanced Expenses”), I hereby agree that if, in connection with the Proceeding, it is established that (1) an act or omission by me was material to the matter giving rise to the Proceeding and
(a) was committed in bad faith or (b) was the result of active and deliberate dishonesty or (2) I actually received an improper personal benefit in money, property or services or (3) in the case of any criminal proceeding, I had
reasonable cause to believe that the act or omission was unlawful, then I shall promptly reimburse the portion of the Advanced Expenses, together with the Applicable Legal Rate of interest thereon, relating to the claims, issues or matters in the
Proceeding as to which the foregoing findings have been established. 
  

	
	  
 Signature

 

	  
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