STAG Industrial Announces Acquisition And Disposition Activity And Leasing Activity For October 2015

Nov 03, 2015, 16:40 ET from STAG Industrial, Inc.

BOSTON, Nov. 3, 2015 /PRNewswire/ -- STAG Industrial, Inc. (the "Company") (NYSE: STAG), a real estate investment trust (REIT) focused on the acquisition and operation of single-tenant, industrial properties throughout the United States, today announced its acquisition and leasing activity for October 2015.

Acquisitions and Dispositions

In October, the Company acquired three buildings consisting of 625,539 square feet for $21 million. The acquired buildings are 100% occupied.  The chart below details the October acquisition activity:

OCTOBER 2015 ACQUISITIONS

Location (CBSA) (1)

Date Acquired

Square Feet

Buildings

Purchase Price ($MM) (2)

Remaining Lease Term (Years)

Durham-Chapel Hill, NC

10/7/2015

80,600

1

$4.2

3.7

Charlotte-Gastonia-Rock Hill, NC-SC

10/15/2015

124,680

1

5.4

7.1

Shreveport-Bossier City, LA

10/26/2015

420,259

1

11.0

3.9

Total/Weighted Average

625,539

3

$20.6

4.5

(1)Core based statistical area

(2)Excludes property acquisition costs

During the ten months ended October 31, 2015, the Company acquired 38 buildings consisting of approximately 6.3 million square feet for $310 million.  The chart below details the acquisition activity during the ten months ended October 31, 2015:

 2015 ACQUISITION ACTIVITY

Quarter

Square Feet

Buildings

Purchase Price ($MM) (1)

Remaining Lease Term (Years)

Q1

1,485,717

5

$97.1

5.7

Q2

1,639,383

12

83.8

6.0

Q3

2,509,084

18

108.3

5.5

Q4

625,539

3

20.6

4.5

Total/Weighted Average

6,259,723

38

$309.8

5.6

(1)Excludes property acquisition costs

As of November 3, 2015, the Company has entered into contracts to acquire eight buildings for $38 million. The Company has also executed non-binding letters of intent to acquire four additional buildings for $107 million

As of November 3, 2015, the Company's pipeline of potential acquisitions is $1.7 billion across 160 buildings.  The pipeline is a point in time measure that includes all of the transactions under consideration by the Company's acquisitions group that have passed the initial screening process.  The pipeline also includes transactions under contract and transactions with non-binding LOIs.

The purchase and sale agreements for the properties under contract are subject to satisfaction of closing conditions, and the properties under LOI require the negotiation and execution of definitive purchase and sale agreements.  There can be no assurance that any of the properties under contract or LOI will be acquired on the terms anticipated or at all.

In October, the Company sold one building consisting of 113,000 square feet for $8.1 million.  During the ten months ended October 31, 2015, the Company sold three buildings consisting of 434,810 square feet for $17.3 million.

Leasing 

In October, the Company executed four temporary leases totaling 621,300 square feet. For the ten months ended October 31, 2015, the Company has executed 49 leases for approximately 4.9 million square feet, including 909,523 square feet of new leases, 2.7 million square feet of renewal leases, and 1.3 million square feet of temporary leases.  The chart below details the leasing activity for the ten months ended October 31, 2015:

2015 LEASING ACTIVITY

Quarter

New Square Feet

Renewal Square Feet

Temporary Square Feet

Total Leasing Activity Square Feet

Q1

167,200

136,653

245,280

549,133

Q2

385,295

1,346,025

365,620

2,096,940

Q3

357,028

1,215,848

87,900

1,660,776

Q4

0

0

621,300

621,300

Total

909,523

2,698,526

1,320,100

4,928,149

About STAG Industrial, Inc.

STAG Industrial, Inc. is a real estate investment trust (REIT) focused on the acquisition and operation of single-tenant, industrial properties throughout the United States. The Company's portfolio consists of 283 properties in 38 states with approximately 52.7 million rentable square feet.

For additional information, please visit the Company's website at www.stagindustrial.com.

Forward-Looking Statements

This press release, together with other statements and information publicly disseminated by 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, 2014 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.



RELATED LINKS

http://www.stagindustrial.com