STAG Industrial, Inc. Announces Acquisition Activity And Leasing Activity For December And The Year Ended 2014

BOSTON, Jan. 5, 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 December 2014 and the full year of 2014.

Acquisitions

In December, the Company acquired two industrial buildings, consisting of one distribution warehouse building and one light manufacturing building containing a total of 411,140 square feet, for approximately $13.5 million.  The acquired buildings are 100% occupied.  Details of the acquired properties are shown in the chart below:

For the year ended December 31, 2014, the Company acquired 43 industrial buildings consisting of approximately 9.3 million square feet for $429.1 million.  The chart below reflects the acquisition activity during the year ended December 31, 2014:

As of January 5, 2015, the Company has entered into contracts to acquire four industrial buildings for $65.3 million. Included in the acquisitions under contract are three build-to-suit transactions totaling approximately $31 million, which are scheduled to close in the second quarter of 2015. The Company has also executed non-binding letters of intent to acquire five additional industrial buildings for $74.2 million.  These contracts and letters of intent are subject to various conditions, including the negotiation and execution of a definitive purchase and sale agreement with respect to the buildings subject to letters of intent. There can be no assurance that the transactions will be consummated on the terms anticipated or at all.

Leasing 

In December, the Company executed leases for 1.9 million square feet.  The leases are detailed below:

For the year ended December 31, 2014, the Company has executed leases for approximately 6 million square feet consisting of 5.1 million square feet of renewal leases and 865,000 square feet of new and expansion leases.  The chart below reflects the leasing activity during the year ended December 31, 2014:

Eight leases consisting of approximately 1 million square feet expired in the fourth quarter and the tenant retention rate for these leases was 71.7%.  Tenant retention for the year ended December 31, 2014 was 69.7% as detailed below:

The Company's occupancy rate for the fourth quarter was 94.9% based on total square footage of 47 million.   The quarterly occupancy rate and total square footage through the end of the fourth quarter appears below:

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 248 properties in 36 states with approximately 47 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, 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.

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SOURCE STAG Industrial, Inc.

Related Links

http://www.stagindustrial.com