STAG Industrial, Inc. Announces the Acquisition of a $14 Million Manufacturing & Distribution Facility
03 Junho 2011 - 8:00AM
Business Wire
STAG Industrial, Inc. (the "Company") (NYSE:STIR(1)) today
announced the acquisition of a 231,000 square foot manufacturing
and distribution facility located in Lansing, Michigan. This is the
Company’s first acquisition since its initial public offering
closed on April 20, 2011. The property was acquired for $14.1
million.
The building is situated on 33 acres of land at 7009 West Mount
Hope Highway in Lansing, Michigan. The building was constructed in
2006 and is a functional Class A manufacturing and distribution
facility subject to a lease with approximately 10 years of
remaining term.
The facility is 100% leased to JCIM, LLC (“JCIM”), a subsidiary
of the public company, Johnson Controls, Inc. (NYSE: JCI). JCIM
designs, manufactures, assembles and supplies plastic components
such as door panels, floor assemblies and seating systems for
General Motors automobiles.
About STAG Industrial, Inc.
STAG Industrial, Inc. is a newly formed, 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 92 properties in 26 states with approximately 14.1 million
rentable square feet.
For additional information, please visit the Company’s website
at www.stagindustrial.com.
(1) On June 2, the Company announced that it would be changing
its ticker symbol to “STAG” effective Monday, June 13, 2011.
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 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.
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