STAG Industrial, Inc. STAG announced that it has inked a renewal lease deal for a 201,800-square foot distribution warehouse building in Lexington, NC. This renewal deal indicates the popularity of the Boston, MA-based real estate investment trust’s (“REIT”) properties, and will likely be accretive, going forward.
For the 11 months ended Nov 30, 2015, STAG Industrial has executed 52 leases for around 5 million square feet of space. This included new, renewal and temporary leases of 909,523 square feet, 2.7 million square feet and 1.4 million square feet, respectively.
The latest deal, with a term of seven years, has been signed with a healthcare products company. 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 #2 (Buy).
Investors interested in the REIT space may also consider stocks like Hersha Hospitality Trust HT, Getty Realty Corp. GTY and Mack-Cali Realty Corp. CLI All three stocks sport a Zacks Rank #1 (Strong Buy).
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