STAG Industrial has completed the sale of two fully occupied industrial real estate properties for gross proceeds of about $82 million. The new owner was not disclosed.
The buildings consist of about 1 million square feet and are located in Dayton, Ohio, and Greenwood, Ind.
The company acquired the buildings in 2017 and 2018, respectively, for a purchase price of about $63.3 million.
“This portfolio sale of two individually acquired industrial buildings with significant cap rate compression demonstrates the ability of the STAG team to effectively execute on transactions despite the current volatility in the market,” said Bill Crooker, CEO STAG. “This transaction contributes to STAG’s ability to accretively recycle capital as opportunities arise through the remainder of the year.”
