STAG Industrial Reports Purchase, Leasing Activity for Aug.
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 announced its acquisition and leasing activity for August 2013.
In August, the Company acquired two warehouse and distribution facilities containing a total of 1.2 million square feet for approximately $53.7 million. These properties are located near Milwaukee, Wisconsin and Baltimore, Maryland. The properties are 100% leased with a weighted average lease term remaining of over six years.
For the year to date, the Company has acquired 27 industrial facilities consisting of approximately 5.5 million square feet for approximately $234 million.
In August, the Company signed one renewal consisting of approximately 251,000 square feet. The renewed lease, located in Salem, Ohio, includes a 10-year extension and an agreement by the Company to expand the building.
For the year to date, the Company has signed 11 new and expansion leases and seven renewal leases for a total of 2.2 million square feet.
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