STAG Industrial Expands Presence with New 102,060 Square Feet Lease in Wellford, SC

STAG Industrial Expands Presence in South Carolina

STAG Industrial, a prominent real estate investment trust (REIT), has recently announced an exciting addition to its portfolio—a new lease agreement covering an impressive 102,060 square feet of warehouse and distribution space located in Wellford, South Carolina. This new development marks another significant step in STAG’s mission to expand its influence in the industrial real estate sector.

Details of the New Lease

The lease, which spans 30 months, will commence on April 1, 2025, and is aimed at a wholesale apparel and promotional product distributor. As part of the agreement, the lease will feature a 3.5% annual rent escalation, which indicates STAG’s commitment to creating mutually beneficial arrangements that ensure steady growth for both the company and its tenants.

This site, located at 452 Casual Drive, was substantially completed by STAG in June 2024. Following this new acquisition, the property is now 69% leased, contributing to a completed development portfolio with a lease-up rate of 51%. This progress signals strong demand for industrial space and indicates STAG’s robust operational capabilities.

Statements from Company Officials

Steve Kimball, the Executive Vice President of Real Estate Operations at STAG Industrial, noted the significance of this transaction: "This transaction was a testament to the strength of STAG's development platform and operational capabilities. Our team produced yet another mutually beneficial result for the Company and the tenant.” His remarks underscore STAG’s dedication to building strong partnerships while enhancing its asset base.

About STAG Industrial, Inc.

STAG Industrial, Inc. operates as a real estate investment trust that focuses on acquiring, owning, and managing industrial properties across the United States. As of the end of 2024, STAG’s portfolio consists of a remarkable 591 buildings, totaling approximately 116.6 million rentable square feet spread across 41 states. The company’s growth strategy underscores its commitment to serving various industrial clients while maximizing shareholder value.

STAG Industrial's journey reflects a growing trend in the industrial real estate market, where demand for warehouse and distribution spaces continues to thrive, driven largely by the growth of e-commerce and logistical needs. This latest lease exemplifies how STAG is effectively positioning itself to meet the increasing demand in the sector.

For more information about STAG Industrial and its developments, you can visit their official website at www.stagindustrial.com.

Looking Ahead

As the industrial sector continues to evolve, STAG Industrial’s proactive approach to property development and tenant relations will likely keep the company at the forefront of the industry. By aligning its growth strategies with current market demands, STAG is poised for continued success in the rapidly changing landscape of industrial real estate.