STAG Industrial, Inc. Detail Acquisition And Leasing Results For The First
Quarter Of 2013
BOSTON, April 1, 2013
BOSTON, April 1, 2013 /PRNewswire/ --STAG Industrial, Inc. (the "Company")
(NYSE: STAG), a company focused on the acquisition, ownership and management
of single-tenant industrial properties throughout the United States, today
detailed the acquisition and leasing activity for March 2013 as well as its
first quarter of 2013.
In March, the Company acquired, in four individual transactions, four
warehouse and distribution facilities consisting of a total of 986,766 square
feet for approximately $38 million. The acquired properties are located in
DeKalb, Illinois; Ocala, Florida; Marion, Iowa and Londonderry, New
Hampshire. The properties are all 100% leased.
In total, the Company has acquired seven industrial facilities consisting of
approximately 1.8 million square feet in the first quarter of 2013 for
approximately $61 million. On a square foot basis, the first quarter's
acquisitions increased the Company's asset base by 6% over the prior quarter.
These properties were purchased at an average cap rate of 9+% based on
The Company has entered into contracts to acquire six additional properties
for a combined purchase price of approximately $45 million. These contracts
are subject to various closing conditions which have not yet been satisfied,
so there can be no assurance that these transactions will be consummated.
The Company also signed two new leases in March consisting of approximately
86,000 square feet and one renewal of an existing lease consisting of
approximately 211,000 square feet.
With these March leases, the Company has executed leases consisting of over
749,000 square feet in the first quarter of 2013. The first quarter's total
leasing activity consisted of approximately 238,000 square feet of new leases
and approximately 511,000 square feet of renewal leases. The tenant retention
rate for the leases expiring in the first quarter of 2013 was 100%. The
Company's occupancy rate for the first quarter increased to 95.4% from 95.1%
at the end of the fourth quarter of 2012.
About STAG Industrial, Inc.
STAG Industrial,Inc. is a 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 179 properties in
33 states with approximately 31.2million rentable square feet.
For additional information, please visit the Company's website at
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, 2012, 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.
Contact: Gregory W. Sullivan, Chief Financial Officer, STAG Industrial, Inc.,
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