BOSTON, Aug. 1, 2014 -- STAG Industrial, Inc. (the "Company") (NYSE:STAG), a company focused on the acquisition and management of single-tenant industrial properties throughout the United States, today announced its acquisition and leasing activity for July 2014.
In July, the Company acquired one warehouse and distribution building containing a total of 244,050 square feet for approximately $10 million. The building is located in the greater Minneapolis, Minnesota market. The building is 100% leased with a weighted average lease term remaining of four and a half years.
For the year to date, the Company has acquired 14 industrial buildings consisting of approximately 3.4 million square feet for approximately $128 million.
In July, the Company signed one new lease consisting of 10,000 square feet, and three renewal leases consisting of approximately 296,000 square feet.
For the year to date, the Company has signed 17 renewal leases and seven new or expansion leases for a total of 2.9 million square feet.
About STAG Industrial, Inc.
STAG Industrial, Inc. is a real estate company focused on the acquisition and management of single-tenant industrial properties throughout the United States. The Company's portfolio consists of 222 properties in 34 states with approximately 41.4 million rentable square feet.
For additional information, please visit the Company's website at www.stagindustrial.com.
This press release, together with other statements and information publicly disseminated by STAG Industrial, Inc. (the "Company"), contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, are generally identifiable by use of the words "believe," "will," "expect," "intend," "anticipate," "estimate," "should," "project" or similar expressions. You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond the Company's control and which could materially affect actual results, performances or achievements. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, the risk factors discussed in the Company's annual report on Form 10-K for the year ended December 31, 2013, as updated by the Company's quarterly reports on Form 10-Q. Accordingly, there is no assurance that the Company's expectations will be realized. Except as otherwise required by the federal securities laws, the Company disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
SOURCE STAG Industrial, Inc.
Authors: PR Newswire Distribution