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STAG Industrial completes 1.6M square foot industrial portfolio sale

STAG Industrial Inc., a Boston based real estate investment trust focused on the acquisition and operation of single-tenant, industrial properties throughout the United States, last week announced it had completed the sale of six industrial real estate properties known as the Southeast Portfolio to Pure Industrial Real Estate Trust for gross proceeds of approximately $81 million at a 6.9 percent capitalization rate.

The Southeast Portfolio consisted of approximately 1.6 million square feet across six industrial assets located in Atlanta and Charlotte. The assets are 100 percent leased to seven tenants.

“This was a great outcome to a process we first announced this summer and marks an important milestone in the STAG story,” said Ben Butcher, Chief Executive Officer of the Company in a press release.

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