NEW YORK ( TheStreet) -- Boston-based STAG Industrial ( STAG) announced this week the acquisition of a portfolio of 31 primarily single tenant industrial buildings for approximately $129 million. This portfolio increases STAG's total 2012 acquisition volume to about $343 million.The portfolio, primarily warehouse and distribution facilities, is 91% leased to 29 different tenants and was purchased at a 9% plus cap rate. The buildings are in 10 different states and represent approximately 4.3 million square feet. With the addition of this portfolio, STAG's total square footage has increased by 63% since the end of 2011. Less than 30 days later STAG announced (8-K filed Sept. 10) that it struck an agreement with Bank of America ( BAC) and other lenders for a senior unsecured revolving credit facility of up to $200 million (with an accordion of up to $300 million). In addition, on Aug. 15 STAG closed its underwritten public offering of 9.2 million common shares. The company said that it intended to use the net proceeds to fund a portion of the anticipated $138.8 million purchase price of the STAG Investments II LLC portfolio or other acquisitions currently under contract; to repay indebtedness outstanding under its secured corporate revolving credit facility; to repay indebtedness outstanding under its Wells Fargo ( WFC) master loan; for general working capital purposes, or a combination of the above.