STAG Industrial, Inc. Announces Record Acquisition Activity For September and Acquisition and Leasing Activity For The Third Quarter 2014

BOSTON, Oct. 1, 2014 /PRNewswire/ -- STAG Industrial, Inc. (the "Company") STAG, a company focused on the acquisition and management of single-tenant industrial properties throughout the United States, today announced record acquisition activity for September and acquisition and leasing activity for the third quarter of 2014.

• Acquisitions

In September, the Company acquired 14 industrial buildings, consisting of 12 warehouse and distribution buildings and two light manufacturing buildings, containing a total of 2.8 million square feet for approximately $150.3 million. This represents the largest single month acquisition total for the Company. These buildings are 96.5% leased with a weighted average lease term remaining of four and one half years.

In the third quarter of 2014, the Company acquired a total of 18 industrial buildings consisting of approximately 3.5 million square feet for approximately $173.6 million as detailed below:

Year to date, the Company has acquired 31 industrial buildings consisting of approximately 6.6 million square feet for approximately $292.6 million as detailed below:

The Company has entered into contracts to acquire nine additional industrial buildings for a purchase price of approximately $98 million.  These contracts are subject to various closing conditions which have not yet been satisfied, so there can be no assurance that the transactions will be consummated.

• Leasing 

In September the Company executed leases containing 323,000 square feet consisting of four renewal leases for approximately 255,000 square feet and two new leases for approximately 68,000 square feet.  With these September leases, the Company has executed leases consisting of approximately 629,000 square feet in the third quarter of 2014. 

Year to date, the Company has executed leases containing approximately 3.2 million square feet consisting of 2.8 million square feet of renewal leases and 437,000 square feet of new and expansion leases as detailed below:

The tenant retention rate for the leases expiring in the third quarter of 2014 was 98.5%.  Year to date tenant retention rate for the Company is 69% as detailed below:

The Company's occupancy rate for the third quarter was 94.8% based on total square footage of 44.5 million.   The quarterly occupancy rate and total square footage through the end of the third quarter appears below:

About STAG Industrial, Inc.

STAG Industrial, Inc. is a real estate operating company focused on the acquisition and management of single-tenant industrial properties throughout the United States. The Company's portfolio consists of 238 properties in 35 states with approximately 44.5 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 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, 2013 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.