STAG Industrial Announces Acquisition And Leasing Activity For February 2015

BOSTON, March 2, 2015 /PRNewswire/ -- STAG Industrial, Inc. (the "Company") STAG, a real estate investment trust focused on the acquisition and operation of single-tenant, industrial properties throughout the United States, today announced its acquisition and leasing activity for February 2015.

• Acquisitions

The Company did not acquire any buildings in February.

As of March 2, 2015 the Company had entered into contracts to acquire seven industrial buildings for $94 million.  Included in the acquisitions under contract are three build-to-suit transactions totaling approximately $31 million, which are scheduled to close in the second quarter of 2015. The Company also executed non-binding letters of intent ("LOI") to acquire 10 additional industrial buildings for $61 million.   Inclusive of contracts executed but not yet closed, the Company has closed or committed to close a total of $128 million of acquisitions year-to-date.

As of March 2, 2015, the pipeline of potential acquisitions exceeded $1.3 billion and 112 industrial buildings.  The pipeline is a point in time measure that includes all of the transactions under consideration by the Company's acquisitions group that have passed the initial screening process.  It also includes transactions under contract and transactions with non-binding LOIs.

The purchase and sale agreements for the properties under contract are subject to satisfaction of closing conditions, and the properties under LOI require the negotiation and execution of definitive purchase and sale agreements.  There can be no assurance that any of the properties under contract or LOI will be acquired on the terms anticipated or at all.

• Leasing

Two leases for approximately 180,000 square feet expired in February.  As a result of previously signed renewals, the tenant retention rate for these leases was 100% (based on square footage).

In February, the Company executed two renewal leases for approximately 137,000 square feet and one short-term renewal lease for 30,000 square feet.  Year-to-date the Company has executed approximately 201,000 square feet of leases, comprised of 137,000 square feet of renewal leases and 64,000 square feet of temporary leases.

As of March 2, 2015, the Company had 19 leases in negotiation for approximately 2.3 million square feet.  These negotiations are subject to various conditions which have not yet been satisfied and there can be no assurance that the transactions will be consummated.

About STAG Industrial, Inc.

STAG Industrial, Inc. is a real estate investment trust focused on the acquisition and operation of single-tenant, industrial properties throughout the United States. The Company's portfolio consists of 249 buildings in 36 states with approximately 47.6 million rentable square feet.

For additional information, please visit the Company's website at www.stagindustrial.com.

Forward-Looking Statements

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 annual report on Form 10-K for the year ended December 31, 2014, 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. 

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SOURCE STAG Industrial, Inc.