The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from PR Newswire

STAG Industrial, Inc. Announces the Acquisition of Three Industrial Properties for $17.6 Million

Thursday, December 22, 2011

STAG Industrial, Inc. Announces the Acquisition of Three Industrial Properties for $17.6 Million14:53 EST Thursday, December 22, 2011Fourth quarter acquisitions total $46 million and result in the completion of $122 million of acquisitions since the IPOBOSTON, Dec. 22, 2011 /PRNewswire/ -- STAG Industrial, Inc. (the "Company") (NYSE: STAG) today announced the acquisition two manufacturing facilities for a combined 97,400 square feet located in Chippewa Falls, Wisconsin and a 400,000 square foot warehouse and distribution facility located in Rogers, Arkansas.  The properties were acquired in two separate transactions for a total of $17.6 million.  (Logo: )The buildings in Chippewa Falls, Wisconsin were constructed in the 1980's and expanded in 1995. These functional industrial manufacturing facilities are 100% leased to Extrusion Dies Industries, LLC ("EDI") with more than 9 years of remaining lease term. EDI designs and builds flat extrusion dies, coextrusion feedblocks, and slot die coating heads for plastic processors and web converters in the United States and internationally.  The warehouse and distribution facility located in Rogers, Arkansas was constructed in 2006 and is 100% leased to Glad Manufacturing Company ("Glad") with 6 years of remaining lease term. Glad, a subsidiary of the Clorox Company (NYSE: CLX), manufactures and distributes a variety of consumer products in the United States and internationally.The completion of these acquisitions brings STAG Industrial's total acquisition volume to approximately $122 million and 3.4 million square feet since its IPO in April 2011. On a square foot basis, the acquisitions increase the Company's asset base by over 24% in less than nine months.About STAG Industrial, Inc.STAG Industrial, Inc. is a self-administered and self-managed full-service real estate company focused on the acquisition, ownership and management of single-tenant industrial properties throughout the United States. STAG's portfolio consists of 105 properties in 27 states with approximately 17.2 million rentable square feet. For additional information, please visit the Company's website at Forward-Looking StatementsThis 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 final prospectus related to its initial public offering, as updated by the Company's annual and quarterly reports.  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.For further information: CONTACT: Gregory W. Sullivan, Chief Financial Officer, STAG Industrial, Inc., +1-617-226-4987,