STAG Industrial Acquires Two Industrial Facilities for Approximately $13.4 M
STAG Industrial (NYSE: STAG) today announced the acquisition of a warehouse and distribution facility containing a total of 217,000 square feet located in Springfield, Massachusetts and a light manufacturing and warehouse facility containing a total of 108,000 square feet located in Sterling Heights, Michigan. The properties were acquired in two separate transactions for a total of approximately $13.4 million.
The building in Springfield, Massachusetts is 100% leased to Big Y Foods, Inc. Headquartered in Springfield, Big Y Foods, Inc. is a supermarket retailer that operates 59 supermarkets in Massachusetts and Connecticut. The building serves as the main distribution center for all Big Y brand dry goods.
The building located in Sterling Heights, Michigan is 100% leased to Sodecia North America, Inc. Sodecia is a full service supplier of highly engineered metal formed components, complex modules, and mechanical systems for the automotive industry.
This acquisition brings STAG's total 2012 acquisition volume to approximately $357 million.