STAG Industrial Inks New Lease Deal for 134.4K Square Feet
STAG Industrial, Inc. STAG announced that it has inked a lease deal for a 134,400-square foot distribution warehouse building in Gresham, OR. This deal is likely to be accretive for the Boston, MA-based real estate investment trust (“REIT”), going forward.
Notably, in mid July, STAG Industrial signed a renewal and expansion lease deal for a LaGrange, GA-based distribution warehouse building spanning 220,000 square feet. Prior to that in early June, the REIT signed a renewal lease deal for a distribution warehouse building, covering 224,000 square feet, in Gurnee, IL.
In late May, the REIT had signed another renewal lease deal for an Orangeburg, SC-based distribution warehouse building stretched across 319,000 square feet. Again, in early May, the REIT had inked a new lease deal for a 474,000-square foot distribution warehouse building in Duncan, SC.
The latest deal, with a term of five years, was signed with a producer of fruit-based items. These new as well as renewal leases are expected to keep the REIT’s growth momentum alive in the near term.
STAG Industrial is engaged in acquisition and operation of single-tenant industrial properties throughout the U.S. The REIT currently carries a Zacks Rank #3 (Hold).
Investors interested in the REIT industry may consider stocks like Ashford Hospitality Trust, Inc. AHT, Summit Hotel Properties, Inc. INN and CoreSite Realty Corporation COR. All three stocks sport a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
ASHFORD HOSPTLY (AHT): Free Stock Analysis Report
STAG INDUSTRIAL (STAG): Free Stock Analysis Report
SUMMIT HOTEL PR (INN): Free Stock Analysis Report
CORESITE REALTY (COR): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
