STAG Industrial Inc
For the period ended Dec 31, 2024. Filed Feb 12, 2025.
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FY2024 · Filed Feb 12, 2025
STAG$37.44+2.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 2. Properties
As of December 31, 2024, we owned the properties in the following table.
| State | City | Number of Buildings | Total Rentable Square Feet |
|---|---|---|---|
| Alabama | Birmingham | 4 | 362,916 |
| Montgomery | 1 | 332,000 | |
| Moody | 1 | 595,346 | |
| Phenix City | 1 | 117,568 | |
| Arkansas | Bryant | 1 | 300,160 |
| Rogers | 1 | 400,000 | |
| Arizona | Avondale | 1 | 186,643 |
| Chandler | 1 | 104,352 | |
| Gilbert | 1 | 41,504 | |
| Mesa | 1 | 71,030 | |
| Phoenix | 1 | 80,000 | |
| Tucson | 1 | 129,047 | |
| California | Fresno | 1 | 232,072 |
| Hollister | 1 | 175,325 | |
| Lodi | 1 | 400,340 | |
| McClellan | 1 | 160,534 | |
| Menifee | 2 | 157,146 | |
| Morgan Hill | 2 | 107,126 | |
| Rancho Cordova | 2 | 106,718 | |
| Roseville | 1 | 114,597 | |
| Sacramento | 8 | 976,557 | |
| San Diego | 1 | 205,440 | |
| Stockton | 3 | 263,716 | |
| West Sacramento | 2 | 291,780 | |
| Colorado | Grand Junction | 1 | 82,800 |
| Johnstown | 1 | 132,194 | |
| Longmont | 1 | 64,750 | |
| Loveland | 2 | 195,674 | |
| Connecticut | East Windsor | 2 | 271,111 |
| Milford | 2 | 367,700 | |
| North Haven | 3 | 824,727 | |
| Wallingford | 1 | 105,000 | |
| Delaware | New Castle | 1 | 485,987 |
| Florida | Daytona Beach | 1 | 142,857 |
| Fort Myers | 1 | 260,620 | |
| Jacksonville | 5 | 1,256,750 | |
| Lake Worth | 3 | 199,916 | |
| Lakeland | 1 | 215,280 | |
| Orlando | 2 | 370,900 | |
| Tampa | 1 | 78,560 | |
| West Palm Beach | 1 | 112,353 | |
| Georgia | Atlanta | 1 | 175,532 |
| Augusta | 1 | 203,726 | |
| Buford | 1 | 103,720 | |
| Calhoun | 1 | 151,200 | |
| Dallas | 1 | 92,807 | |
| Forest Park | 1 | 373,900 | |
| LaGrange | 1 | 323,368 | |
| Lithonia | 1 | 210,858 |
| State | City | Number of Buildings | Total Rentable Square Feet |
|---|---|---|---|
| Norcross | 1 | 152,036 | |
| Savannah | 1 | 504,300 | |
| Shannon | 1 | 568,516 | |
| Smyrna | 1 | 102,150 | |
| Statham | 1 | 225,692 | |
| Stone Mountain | 1 | 78,000 | |
| Iowa | Ankeny | 2 | 400,968 |
| Council Bluffs | 1 | 90,000 | |
| Des Moines | 2 | 301,381 | |
| Marion | 1 | 95,500 | |
| Idaho | Idaho Falls | 1 | 78,690 |
| Illinois | Aurora | 1 | 130,000 |
| Bartlett | 1 | 207,575 | |
| Batavia | 3 | 261,318 | |
| Belvidere | 4 | 636,960 | |
| Carol Stream | 1 | 89,381 | |
| Cary | 1 | 79,049 | |
| Crystal Lake | 4 | 506,096 | |
| Elgin | 8 | 1,372,401 | |
| Elmhurst | 1 | 72,499 | |
| Gurnee | 1 | 338,740 | |
| Harvard | 1 | 126,304 | |
| Hodgkins | 2 | 518,109 | |
| Itasca | 3 | 311,355 | |
| Lisle | 1 | 105,925 | |
| Machesney Park | 1 | 80,000 | |
| McHenry | 2 | 169,311 | |
| Montgomery | 1 | 584,301 | |
| New Lenox | 3 | 506,536 | |
| Saint Charles | 1 | 102,000 | |
| Sauk Village | 1 | 375,785 | |
| Schaumburg | 1 | 67,817 | |
| St. Charles | 1 | 115,491 | |
| Vernon Hills | 1 | 95,486 | |
| Waukegan | 1 | 131,252 | |
| West Chicago | 7 | 955,432 | |
| West Dundee | 1 | 154,475 | |
| Wood Dale | 1 | 137,607 | |
| Indiana | |||
| Elkhart | 2 | 170,100 | |
| Fort Wayne | 1 | 108,800 | |
| Goshen | 1 | 366,000 | |
| Greenwood | 1 | 154,440 | |
| Indianapolis | 1 | 78,600 | |
| Jeffersonville | 2 | 1,155,832 | |
| Lafayette | 3 | 466,400 | |
| Lebanon | 3 | 2,230,323 | |
| Marion | 1 | 249,920 | |
| Portage | 2 | 786,249 | |
| South Bend | 1 | 225,000 | |
| Whitestown | 1 | 258,000 | |
| Yoder | 1 | 764,177 | |
| Kansas | Edwardsville | 1 | 270,869 |
| Lenexa | 3 | 581,059 | |
| Olathe | 2 | 725,839 | |
| Wichita | 3 | 248,550 | |
| State | City | Number of Buildings | Total Rentable Square Feet |
|---|---|---|---|
| Kentucky | Bardstown | 1 | 102,318 |
| Danville | 1 | 757,047 | |
| Erlanger | 1 | 108,620 | |
| Florence | 2 | 641,136 | |
| Hebron | 1 | 109,000 | |
| Louisiana | Baton Rouge | 3 | 532,036 |
| Shreveport | 1 | 420,259 | |
| Massachusetts | Andover | 1 | 60,000 |
| Hudson | 1 | 128,000 | |
| Lawrence | 1 | 91,333 | |
| Malden | 2 | 109,943 | |
| Middleborough | 1 | 80,100 | |
| Norton | 1 | 200,000 | |
| South Easton | 1 | 86,000 | |
| Sterling | 1 | 119,056 | |
| Stoughton | 2 | 258,213 | |
| Westborough | 1 | 121,700 | |
| Wilmington | 1 | 42,919 | |
| Woburn | 2 | 96,219 | |
| Maryland | Elkridge | 1 | 167,223 |
| Hagerstown | 3 | 1,424,620 | |
| Hampstead | 1 | 1,035,249 | |
| Hunt Valley | 1 | 46,867 | |
| White Marsh | 1 | 103,564 | |
| Maine | Biddeford | 2 | 265,126 |
| Gardiner | 1 | 265,000 | |
| Lewiston | 1 | 60,000 | |
| Portland | 1 | 100,600 | |
| Michigan | Belleville | 1 | 160,464 |
| Canton | 1 | 491,049 | |
| Chesterfield | 4 | 478,803 | |
| Grand Rapids | 4 | 656,262 | |
| Holland | 1 | 195,000 | |
| Kentwood | 3 | 455,177 | |
| Lansing | 4 | 770,425 | |
| Livonia | 2 | 285,306 | |
| Marshall | 1 | 57,025 | |
| Novi | 3 | 685,010 | |
| Plymouth | 1 | 125,214 | |
| Redford | 1 | 138,912 | |
| Romulus | 2 | 578,260 | |
| Sterling Heights | 1 | 108,000 | |
| Walker | 1 | 210,000 | |
| Warren | 4 | 981,540 | |
| Wixom | 1 | 126,720 | |
| Zeeland | 1 | 230,200 | |
| Minnesota | Blaine | 1 | 248,816 |
| Bloomington | 1 | 145,351 | |
| Brooklyn Park | 2 | 326,720 | |
| Carlos | 1 | 196,270 | |
| Eagan | 1 | 276,550 | |
| Inver Grove Heigh | 1 | 80,655 | |
| Lakeville | 1 | 360,000 | |
| Maple Grove | 2 | 207,875 |
| State | City | Number of Buildings | Total Rentable Square Feet |
|---|---|---|---|
| Mendota Heights | 2 | 183,279 | |
| New Hope | 1 | 107,348 | |
| Newport | 1 | 83,000 | |
| Oakdale | 2 | 210,044 | |
| Plymouth | 3 | 357,085 | |
| Savage | 1 | 244,050 | |
| Shakopee | 2 | 296,589 | |
| South Saint Paul | 1 | 422,727 | |
| St. Paul | 1 | 316,636 | |
| Missouri | Berkeley | 1 | 121,223 |
| Earth City | 1 | 116,783 | |
| Fenton | 1 | 127,464 | |
| Hazelwood | 1 | 305,550 | |
| Kansas City | 3 | 1,378,000 | |
| O’Fallon | 2 | 186,854 | |
| Mississippi | Southaven | 1 | 556,600 |
| North Carolina | Catawba | 1 | 137,785 |
| Charlotte | 4 | 330,629 | |
| Durham | 1 | 80,600 | |
| Garner | 1 | 150,000 | |
| Greensboro | 2 | 261,909 | |
| Huntersville | 1 | 185,570 | |
| Lexington | 1 | 201,800 | |
| Mebane | 3 | 813,133 | |
| Mocksville | 1 | 129,600 | |
| Mooresville | 2 | 799,200 | |
| Mountain Home | 1 | 146,014 | |
| Newton | 1 | 217,200 | |
| Pineville | 1 | 75,400 | |
| Rural Hall | 1 | 250,000 | |
| Salisbury | 1 | 288,000 | |
| Smithfield | 1 | 307,845 | |
| Troutman | 1 | 301,000 | |
| Winston-Salem | 1 | 385,000 | |
| Youngsville | 1 | 365,000 | |
| Nebraska | Bellevue | 1 | 370,000 |
| La Vista | 1 | 178,368 | |
| Omaha | 5 | 464,558 | |
| New Hampshire | Londonderry | 1 | 125,060 |
| Nashua | 1 | 337,391 | |
| New Jersey | Branchburg | 1 | 113,973 |
| Burlington | 2 | 756,990 | |
| Franklin Township | 1 | 183,000 | |
| Lumberton | 1 | 120,000 | |
| Moorestown | 3 | 257,061 | |
| Mt. Laurel | 1 | 112,294 | |
| Piscataway | 1 | 101,381 | |
| Swedesboro | 1 | 123,962 | |
| Westampton | 1 | 189,434 | |
| New Mexico | Santa Teresa | 1 | 92,325 |
| Nevada | Fernley | 1 | 183,435 |
| Las Vegas | 2 | 157,388 | |
| Paradise | 2 | 80,422 |
| State | City | Number of Buildings | Total Rentable Square Feet |
|---|---|---|---|
| Reno | 1 | 87,264 | |
| Sparks | 2 | 326,986 | |
| New York | Buffalo | 1 | 117,000 |
| Cheektowaga | 1 | 121,760 | |
| Farmington | 1 | 149,657 | |
| Gloversville | 3 | 211,554 | |
| Johnstown | 3 | 159,427 | |
| Rochester | 2 | 252,860 | |
| Ronkonkoma | 1 | 64,224 | |
| Ohio | Bedford Heights | 1 | 173,034 |
| Boardman | 1 | 176,930 | |
| Canal Winchester | 3 | 964,472 | |
| Columbus | 4 | 1,486,450 | |
| Dayton | 1 | 205,761 | |
| Etna | 1 | 1,232,149 | |
| Fairborn | 1 | 259,369 | |
| Fairfield | 2 | 364,948 | |
| Gahanna | 1 | 385,919 | |
| Groveport | 1 | 320,657 | |
| Hilliard | 1 | 237,500 | |
| Macedonia | 2 | 338,297 | |
| Maple Heights | 1 | 170,000 | |
| Mason | 1 | 116,200 | |
| North Jackson | 2 | 518,758 | |
| Oakwood Village | 1 | 75,000 | |
| Salem | 1 | 271,000 | |
| Streetsboro | 1 | 343,416 | |
| Strongsville | 2 | 341,561 | |
| Toledo | 1 | 177,500 | |
| Twinsburg | 2 | 426,974 | |
| West Chester | 2 | 967,368 | |
| West Jefferson | 1 | 857,390 | |
| Oklahoma | Oklahoma City | 2 | 303,740 |
| Tulsa | 2 | 309,600 | |
| Oregon | Beaverton | 2 | 121,426 |
| Salem | 2 | 155,900 | |
| Sherwood | 1 | 99,136 | |
| Wilsonville | 1 | 78,000 | |
| Pennsylvania | Allentown | 3 | 454,784 |
| Burgettstown | 1 | 455,000 | |
| Charleroi | 1 | 119,161 | |
| Clinton | 7 | 1,532,414 | |
| Croydon | 1 | 101,869 | |
| Elizabethtown | 1 | 206,236 | |
| Export | 1 | 138,270 | |
| Hazleton | 1 | 589,580 | |
| Imperial | 1 | 315,634 | |
| Kulpsville | 1 | 152,625 | |
| Lancaster | 1 | 240,528 | |
| Langhorne | 4 | 467,647 | |
| Lebanon | 1 | 211,358 | |
| Mechanicsburg | 3 | 747,054 | |
| Muhlenberg Township | 1 | 392,107 | |
| New Galilee | 1 | 410,389 | |
| New Kensington | 1 | 200,500 | |
| New Kingstown | 1 | 330,000 |
| State | City | Number of Buildings | Total Rentable Square Feet |
|---|---|---|---|
| O’Hara Township | 1 | 887,084 | |
| Pittston | 1 | 437,446 | |
| Reading | 1 | 248,000 | |
| Warrendale | 1 | 179,394 | |
| York | 5 | 1,306,834 | |
| South Carolina | Columbia | 1 | 185,600 |
| Duncan | 3 | 996,841 | |
| Edgefield | 1 | 126,190 | |
| Fountain Inn | 3 | 685,360 | |
| Gaffney | 1 | 226,968 | |
| Goose Creek | 1 | 500,355 | |
| Greenwood | 2 | 175,055 | |
| Greer | 6 | 654,935 | |
| Laurens | 1 | 125,000 | |
| Piedmont | 7 | 1,387,556 | |
| Rock Hill | 3 | 720,120 | |
| Simpsonville | 3 | 1,138,494 | |
| Spartanburg | 9 | 1,802,623 | |
| Summerville | 1 | 88,583 | |
| Wellford | 1 | 233,433 | |
| West Columbia | 7 | 1,628,028 | |
| Tennessee | Chattanooga | 3 | 646,200 |
| Cleveland | 1 | 151,704 | |
| Clinton | 1 | 166,000 | |
| Jackson | 1 | 267,391 | |
| Knoxville | 3 | 441,310 | |
| Lebanon | 2 | 407,552 | |
| Loudon | 1 | 104,074 | |
| Madison | 1 | 418,406 | |
| Mascot | 2 | 321,120 | |
| Memphis | 2 | 1,331,075 | |
| Murfreesboro | 2 | 212,312 | |
| Nashville | 1 | 154,485 | |
| Vonore | 1 | 342,700 | |
| Texas | Arlington | 2 | 290,324 |
| Cedar Hill | 1 | 420,000 | |
| Conroe | 1 | 252,662 | |
| El Paso | 12 | 2,417,131 | |
| Garland | 1 | 253,900 | |
| Grapevine | 2 | 202,140 | |
| Houston | 10 | 1,412,059 | |
| Humble | 1 | 289,200 | |
| Irving | 1 | 120,900 | |
| Katy | 2 | 244,916 | |
| Laredo | 2 | 462,658 | |
| McAllen | 1 | 301,200 | |
| Mission | 1 | 270,084 | |
| Rockwall | 1 | 389,546 | |
| Socorro | 1 | 254,103 | |
| Stafford | 1 | 68,300 | |
| Waco | 1 | 66,400 | |
| Utah | Salt Lake City | 1 | 172,847 |
| Virginia | Chester | 1 | 100,000 |
| Fredericksburg | 1 | 140,555 | |
| Harrisonburg | 1 | 357,673 | |
| Independence | 1 | 120,000 |
| State | City | Number of Buildings | Total Rentable Square Feet |
|---|---|---|---|
| N. Chesterfield | 1 | 109,520 | |
| Norfolk | 1 | 102,512 | |
| Richmond | 1 | 78,128 | |
| Washington | Ridgefield | 1 | 141,400 |
| Wisconsin | Appleton | 1 | 152,000 |
| Caledonia | 1 | 53,680 | |
| Cudahy | 1 | 128,000 | |
| De Pere | 1 | 200,000 | |
| DeForest | 1 | 262,521 | |
| Delavan | 2 | 146,400 | |
| East Troy | 1 | 149,624 | |
| Elkhorn | 1 | 78,540 | |
| Franklin | 1 | 156,482 | |
| Germantown | 4 | 520,163 | |
| Hartland | 1 | 121,050 | |
| Hudson | 1 | 139,875 | |
| Janesville | 1 | 700,000 | |
| Kenosha | 1 | 175,052 | |
| Madison | 2 | 283,000 | |
| Mayville | 1 | 339,179 | |
| Mukwonago | 1 | 157,438 | |
| Muskego | 1 | 81,230 | |
| New Berlin | 3 | 591,035 | |
| Oak Creek | 2 | 232,144 | |
| Pewaukee | 2 | 288,201 | |
| Pleasant Prairie | 1 | 105,637 | |
| Sun Prairie | 1 | 427,000 | |
| Sussex | 1 | 150,002 | |
| West Allis | 4 | 243,478 | |
| Yorkville | 1 | 98,151 | |
| Total | 591 | 116,627,125 |
Not reflected in the table above are 11 buildings under development.
As of December 31, 2024, one of our 591 buildings was encumbered by mortgage indebtedness totaling approximately $4.3 million (excluding unamortized deferred financing fees, debt issuance costs, and fair market value premiums or discounts). See Note 4 in the accompanying Notes to the Consolidated Financial Statements and the accompanying Schedule III for additional information.
Top Markets
The following table summarizes information about the 20 largest markets in our portfolio based on total annualized base rental revenue as of December 31, 2024.
| Top 20 Markets(1) | % of Total Annualized Base Rental Revenue |
|---|---|
| Chicago, IL | 7.8% |
| Greenville, SC | 5.1% |
| Minneapolis, MN | 4.3% |
| Pittsburgh, PA | 4.0% |
| Detroit, MI | 3.9% |
| Columbus, OH | 3.8% |
| South Central, PA | 3.1% |
| Philadelphia, PA | 2.8% |
| Boston, MA | 2.5% |
| El Paso, TX | 2.3% |
| Milwaukee, WI | 2.3% |
| Kansas City, MO | 2.1% |
| Charlotte, NC | 2.1% |
| Houston, TX | 2.0% |
| Sacramento, CA | 2.0% |
| Indianapolis, IN | 1.9% |
| Cincinnati, OH | 1.8% |
| Cleveland, OH | 1.8% |
| Columbia, SC | 1.4% |
| Grand Rapids, MI | 1.4% |
| Total | 58.4% |
(1) Market classification based on CBRE-EA industrial market geographies.
Top Industries
The following table summarizes information about the 20 largest tenant industries in our portfolio based on total annualized base rental revenue as of December 31, 2024.
| Top 20 Tenant Industries(1) | % of Total Annualized Base Rental Revenue |
|---|---|
| Air Freight & Logistics | 11.3% |
| Containers & Packaging | 7.9% |
| Automobile Components | 6.2% |
| Machinery | 6.2% |
| Commercial Services & Supplies | 5.5% |
| Trading Companies & Distribution (Industrial Goods) | 5.5% |
| Distributors (Consumer Goods) | 4.6% |
| Building Products | 4.6% |
| Consumer Staples Distribution | 3.8% |
| Broadline Retail | 3.7% |
| Household Durables | 3.2% |
| Media | 3.0% |
| Specialty Retail | 2.9% |
| Beverages | 2.5% |
| Food Products | 2.4% |
| Chemicals | 1.9% |
| Ground Transportation | 1.9% |
| Electronic Equip, Instruments | 1.8% |
| Electrical Equipment | 1.7% |
| Automobiles | 1.6% |
| Total | 82.2% |
(1) Industry classification based on Global Industry Classification Standard methodology.
Top Tenants
The following table summarizes information about the 20 largest tenants in our portfolio based on total annualized base rental revenue as of December 31, 2024.
| Top 20 Tenants(1) | Number of Leases | % of Total Annualized Base Rental Revenue |
|---|---|---|
| Amazon | 7 | 2.9% |
| American Tire Distributors, Inc. | 7 | 1.0% |
| Soho Studio, LLC | 1 | 0.9% |
| Schneider Electric USA, Inc. | 4 | 0.8% |
| CHEP USA | 6 | 0.8% |
| Tempur Sealy International, Inc. | 2 | 0.7% |
| The Coca-Cola Company | 3 | 0.7% |
| Iron Mountain Information Management | 6 | 0.7% |
| Hachette Book Group, Inc. | 1 | 0.7% |
| Penguin Random House, LLC | 1 | 0.7% |
| Kenco Logistic Services, LLC | 3 | 0.7% |
| FedEx Corporation | 4 | 0.7% |
| Penske Truck Leasing Co. LP | 3 | 0.7% |
| WestRock Company | 6 | 0.6% |
| Lippert Component Manufacturing | 4 | 0.6% |
| DHL Supply Chain | 4 | 0.6% |
| GXO Logistics, Inc. | 2 | 0.6% |
| DS Smith North America | 2 | 0.6% |
| Carolina Beverage Group | 3 | 0.6% |
| AFL Telecommunications LLC | 2 | 0.6% |
| Total | 71 | 16.2% |
(1) Includes tenants, guarantors, and/or non-guarantor parents.
Scheduled Lease Expirations
As of December 31, 2024, our Weighted Average Lease Term was approximately 4.3 years. The following table summarizes lease expirations for leases in place as of December 31, 2024, plus available space, for each of the ten calendar years beginning with 2025 and thereafter in our portfolio.
| Lease Expiration Year | Number of Leases Expiring | Total Rentable Square Feet(2) | % of Total Occupied Square Feet | Total Annualized Base Rental Revenue (in thousands) | % of Total Annualized Base Rental Revenue |
|---|---|---|---|---|---|
| Available | — | 4,129,694 | — | $— | — |
| Month-to-month leases | 2 | 25,074 | —% | 94 | —% |
| 2025 | 68 | 6,952,923 | 6.2% | 36,794 | 5.8% |
| 2026 | 141 | 19,114,923 | 17.0% | 106,583 | 16.9% |
| 2027 | 135 | 17,651,939 | 15.7% | 97,438 | 15.5% |
| 2028 | 108 | 13,722,797 | 12.2% | 76,516 | 12.2% |
| 2029 | 102 | 16,118,441 | 14.3% | 90,055 | 14.3% |
| 2030 | 64 | 10,555,306 | 9.4% | 60,194 | 9.6% |
| 2031 | 57 | 10,124,299 | 9.0% | 54,153 | 8.6% |
| 2032 | 24 | 3,542,922 | 3.1% | 24,588 | 3.9% |
| 2033 | 21 | 3,434,154 | 3.1% | 19,669 | 3.1% |
| 2034 | 14 | 3,478,855 | 3.1% | 24,005 | 3.8% |
| Thereafter | 31 | 7,775,798 | 6.9% | 39,635 | 6.3% |
| Total | 767 | 116,627,125 | 100.0% | $629,724 | 100.0% |
(1)Leases previously scheduled to expire in 2024, totaling approximately 8.5 million square feet, have been amended to extend their lease expiration date as of December 31, 2024.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.