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STAG Industrial Closes Sale Of 350,000 Square Foot Facility Located In Taunton, Massachusetts

BOSTON, Oct. 28, 2021 /PRNewswire/ -- STAG Industrial, Inc.

BOSTON, Oct. 28, 2021 /PRNewswire/ -- STAG Industrial, Inc. (the "Company") (STAG) - Get STAG Industrial, Inc. Report today announced it has successfully closed the sale of its 350,326 square foot building located in Taunton, Massachusetts. The gross proceeds of $78.0 million represent a cash capitalization rate of 3.1%.

The Company acquired the building vacant in February 2019 and signed an 18-month known-vacate lease that same month. The Company then signed a new 10-year lease with a large investment grade rated e-commerce tenant and terminated the short-term lease in April 2020, adding significant value to the building.

"This round-trip investment is a great demonstration of the industrial real estate platform we have built - from sourcing the investment, repositioning and leasing the asset, and ultimately monetizing the value we created," said Ben Butcher, Chief Executive Officer of the Company. "We continue to identify assets that add significant value to our portfolio.  This is a great outcome and testimony to the hard work done by our team."

About STAG Industrial, Inc.

STAG Industrial, Inc. is a real estate investment trust focused on the acquisition, ownership and operation of single-tenant, industrial properties throughout the United States. As of September 30, 2021, the Company's portfolio consists of 517 buildings in 40 states with approximately 103.4 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, 2020 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.