STAG Industrial, Inc. Announces The Acquisition Of Two Warehouse And Distribution Facilities For $26 Million
BOSTON, Sept. 24, 2012 /PRNewswire/ -- STAG Industrial, Inc. (NYSE: STAG) announces the acquisition of two warehouse and distribution facilities containing a total of 787,380 square feet for approximately $26 million. The two adjacent buildings are located near Greenville, South Carolina and are fully-leased with an average lease term of 4.5 years.
The 474,000 square foot building is primarily leased to L. Perrigo Company, a leading global healthcare supplier that develops, manufactures and distributes over-the-counter and generic prescription pharmaceuticals, infant formulas, nutritional products, and active pharmaceutical ingredients. L. Perrigo uses this location for warehouse and distribution of its nutritional products.
The 313,380 square foot building is leased to Arvato Digital Services, LLC. Arvato provides various manufacturing and distribution services to media & entertainment, technology, and other industries. Arvato produces and manages data storage media for third party clients at this facility.
This acquisition brings STAG's total 2012 acquisition volume to over $200 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 132 properties in 29 states with approximately 23.1 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.