This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

STAG Industrial, Inc. Announces Acquisition And Leasing Results For The Third Quarter 2013

BOSTON, Oct. 1, 2013 /PRNewswire/ -- 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 September 2013 as well as the third quarter of 2013.

(Logo: http://photos.prnewswire.com/prnh/20110907/NE63410LOGO )

-- Acquisitions

In September, the Company acquired two buildings, one light manufacturing facility and one warehouse and distribution facility, containing a total of 457,848 square feet for approximately $14.8 million.  These properties are located near Minneapolis, Minnesota, and Dayton, Ohio respectively.  The properties are 100% leased with a weighted average remaining lease term of over four and a half years.

In the third quarter of 2013, the Company acquired a total of six industrial facilities consisting of approximately 1.9 million square feet for approximately $79 million.

For the calendar year to date 2013, the Company has acquired 29 industrial facilities consisting of approximately six million square feet for approximately $249 million.

The Company has entered into contracts to acquire four additional properties for a combined purchase price of approximately $47 million.  These contracts are subject to various closing conditions which have not yet been satisfied, so there can be no assurance that these transactions will be consummated.

-- Leasing 

In September, the Company signed two new leases for a total of approximately 79,000 square feet.

With these September leases, the Company has executed leases consisting of over 469,000 square feet in the third quarter of 2013. The third quarter's total leasing activity consisted of approximately 149,000 square feet of new and expansion leases and approximately 320,000 square feet of renewal leases.  Only 5 leases expired in the third quarter and the tenant retention rate for those leases was 29%.  The year to date tenant retention rate for the Company is 68%. The Company's occupancy rate for the third quarter increased slightly to 94.0% from 93.9% at the end of the second quarter of 2013. 

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,162.99 +121.45 0.67%
S&P 500 2,123.48 +19.28 0.92%
NASDAQ 5,106.5930 +73.8420 1.47%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs