Boston, MA-based STAG Industrial, Inc. has appointed Steven Kimball as EVP—real estate operations, effective when he joins the company later this spring. Kimball currently serves as executive director at PGIM Real Estate, where he oversees asset management of a Northeastern industrial property portfolio.

Kimball will lead the company’s asset management and construction departments. He will concentrate his efforts on maximizing returns from the company’s existing assets and guide its development program.

The company has also announced that executive chairman of the board Ben Butcher’s employment agreement would expire at the end of its current one-year term on June 30, 2023, when he will retire from the role. Butcher will continue to serve on the board as a director.

STAG Industrial, Inc. is a real estate investment trust focused on the acquisition, ownership and operation of industrial properties throughout the US. As of December 31, 2022, the company’s portfolio consists of 562 buildings in 41 states with approximately 111.7 million rentable square feet.