STAG Industrial Announces The Acquisition Of Two Warehouse And Distribution Facilities For $26 Million
STAG Industrial (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.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.