STAG Industrial, Inc. Announces the Acquisition of Two Industrial Facilities for Approximately $13.4 Million
BOSTON, Nov. 1, 2012 /PRNewswire/ -- STAG Industrial, Inc. (NYSE: STAG) today announced the acquisition of a warehouse and distribution facility containing a total of 217,000 square feet located in Springfield, Massachusetts and a light manufacturing and warehouse facility containing a total of 108,000 square feet located in Sterling Heights, Michigan. The properties were acquired in two separate transactions for a total of approximately $13.4 million.
The building in Springfield, Massachusetts is 100% leased to Big Y Foods, Inc. Headquartered in Springfield, Big Y Foods, Inc. is a supermarket retailer that operates 59 supermarkets in Massachusetts and Connecticut. The building serves as the main distribution center for all Big Y brand dry goods.
The building located in Sterling Heights, Michigan is 100% leased to Sodecia North America, Inc. Sodecia is a full service supplier of highly engineered metal formed components, complex modules, and mechanical systems for the automotive industry.
This acquisition brings STAG's total 2012 acquisition volume to approximately $357 million.
About STAG Industrial, Inc.
STAG Industrial, Inc. is a fully integrated, full service real estate company focused on the acquisition, ownership and management of single-tenant industrial properties throughout the United States. STAG's portfolio consists of 167 properties in 30 states with approximately 28.1 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, 2011, 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.