STAG Industrial, Inc. (NYSE: STAG) has acquired a warehouse and distribution center of some 217,000 square feet in Springfield, Massachusetts. The firm also acquired a manufacturing and warehouse facility of 108,000 square feet in Michigan, in a deal reportedly worth $13.4 million.
The fully leased building in Springfield is being used by Big Y Foods, Inc., according to the news from Stag. Big Y, a retail supermarket operation, has 59 supermarkets across Massachusetts and Connecticut.
As for the Sterling Heights, Michigan property, that one too is 100% leased to Sodecia North America, Inc. That company uses the storage for metal formed engineering components for the auto industry. In total, these new acquisitions bring Stag's 2012 total investments to around $357 million dollars.
STAG Industrial, Inc. is an integrated, full service real estate company that keys on acquiring and managing industrial properties like the ones mentioned. The company currently has 167 properties in 30 states with approximately 28.1 million square feet of rentable space.
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