STAG Capital Partners' Joint Venture Purchases Three Assets Totaling 934,000 Square Feet

BOSTON, Sept. 20 /PRNewswire/ -- STAG Capital Partners and GI Partners, on behalf of their recently formed $200 million joint venture, announced today that they have purchased, in separate transactions, three assets totaling 934,000 square feet. 

The first acquisition, a 77,000 square foot warehousing and distribution facility in O'Fallon, MO, 30 miles NW of St. Louis, is fully leased to Herndon Products.  Herndon provides assembly components to the aerospace and defense industry.  Located at 3801 Lloyd King Drive, the asset serves as Herndon's corporate headquarters and primary repackaging and assembly facility.  The asset sits on 6.7 acres of land in the St. Charles County submarket of St. Louis, MO.

The second transaction, a 366,000 square foot manufacturing facility in Goshen, IN, is fully leased to Cequent, a subsidiary of publicly traded TriMas Corporation.  Cequent manufactures and markets various components for the automotive, trucking, and recreational vehicles markets.  The property is located at 2600 College Avenue, 30 miles east of South Bend, IN.

Most recently, the company acquired a 491,000 square foot warehousing and distribution facility located at 10701 Nations Ford Road in Charlotte, NC, currently leased to Spencer Gifts, LLC, a specialty gift chain operator.  The property serves as the sole distribution facility for all 600 Spencer locations throughout the U.S. as well as Spencer's approximately 1,000 Spirit Halloween stores.

STAG Capital Partners sponsors joint venture and investment funds that actively acquire single-tenant, net leased properties via third party transactions and corporate sale-leasebacks to add to its existing portfolio of real estate assets.  Tenants in these properties have included both investment and sub-investment grade corporations.  Property types include warehouse, manufacturing, and flex/office properties.  STAG Capital Partners' sponsored funds have acquired more than 200 properties at a cost of over $1.2 billion since 2004.  

SOURCE STAG Capital Partners