STAG INDUSTRIAL SIGNS NEW LEASE AT WELLFORD, SC DEVELOPMENT TOTALING 102,060 SQUARE FEET

Core Viewpoint - STAG Industrial, Inc. has signed a new lease for 102,060 square feet of warehouse and distribution space, indicating strong demand for its industrial properties [1][2]. Group 1: Lease Details - The new 30-month lease is with a wholesale apparel and promotional product distributor, starting on April 1, 2025, and includes annual rent escalations of 3.5% [2]. - The asset at 452 Casual Drive in Wellford, SC, is now 69% leased, contributing to an overall lease-up rate of 51% for the company's completed development portfolio [2]. Group 2: Company Overview - STAG Industrial, Inc. is a real estate investment trust focused on acquiring, owning, and operating industrial properties across the United States [3]. - As of December 31, 2024, the company's portfolio includes 591 buildings in 41 states, totaling approximately 116.6 million rentable square feet [3]. Group 3: Management Commentary - The Executive Vice President of Real Estate Operations highlighted the transaction as a demonstration of the strength of STAG's development platform and operational capabilities, emphasizing a mutually beneficial outcome for both the company and the tenant [3].