2/20/2008

STAG makes industrial acquisitions in Pennsylvania, North Carolina

by

200 Woodside Drive

405 Keystone Drive

Boston, Mass.-based STAG Capital Partners has acquired a 201,800 square foot warehouse facility in Lexington, N.C., and a 148,000 square foot distribution property in Warrendale, Pa.

In Lexington, STAG purchased 200 Woodside Drive, a warehouse and distribution facility, from Lexington Associates, LLC. The building is fully leased to Kimberly Clark Corporation, a global health care and hygiene company.

Michael Chase handled the negotiations for STAG while Ken Butler of NAI Avant and Dick Merritt of Merritt & Company represented Lexington Associates.

In Warrendale, the firm acquired 405 Keystone Drive, a warehouse building located within the Thorn Hill Industrial Park. It is currently 100 percent leased to Serco Group, a business process management and systems engineering company that services the U.S. military and U.S. postal service.

Louis Oliva of Grubb & Ellis represented the seller, Robinson Properties while STAG was again represented by Michael Chase.

Oliva is a senior VP with Grubb & Ellis and specializes in industrial properties. He is a former employee of Schering Plough and Proctor & Gamble. Oliva earned his bachelor's degree in administration and management science from Carnegie Mellon University.

Address: 200 Woodside Drive, Lexington, N.C. & 405 Keystone Drive, Warrendale, Pa.

Size: 349,800 square feet

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Filed Under: Industrial

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