BOSTON, March 21, 2012 /PRNewswire/ -- STAG Industrial, Inc. (NYSE: STAG) announces the acquisition of a $6.6 million, approximately 129,325 square foot, warehouse and distribution facility located in Lansing, Michigan.
The building was constructed in 2002 and renovated in 2008. The property is 100% leased to Joseph T. Ryerson & Son, Inc., a subsidiary of Ryerson Inc., under a lease with approximately 7 years of remaining lease term. Ryerson Inc. and its subsidiaries process and distribute metals that include stainless and carbon steel, and aluminum products.
This acquisition brings STAG Industrial's total acquisition volume to approximately $145.7 million since its IPO in April 2011.
About STAG Industrial, Inc.
STAG Industrial, Inc. is a self-administered and self-managed 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 108 properties in 28 states with approximately 17.8 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 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 final prospectus related to its initial public offering, as updated by the Company's annual and quarterly reports. 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.