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Stag Industrial Sells 1.8M-SF, Six-State Portfolio for $114M
Boston-based Stag Industrial, Inc. sold a 1.8-million-square-foot industrial portfolio comprised of seven single tenant buildings in six states for $113.5 million. The portfolio was acquired by Conshohocken, PA-based Exeter Property Group.
The portfolio was comprised of buildings located in Colorado, California, Ohio, Texas, Illinois, and Arizona. The buildings ranged in size from 102,747 to 635,281 square feet, with a weighted average lease term of 6.5 years.
JLL’s John Huguenard, who handled the sale on behalf of the seller, says, “Institutional buyers in the industrial sector continue to gravitate toward transactions providing immediate scale to their portfolios. These highly- functional properties all enjoy stable cash flow in great locations.”
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- ◦Sale/Acquisition