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STAG Industrial sells 7-asset portfolio for $114M

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STAG Industrial sells 7-asset portfolio for $114M

STAG Industrial Inc. sold a seven-property industrial portfolio, encompassing about 1.8 million square feet across six states, for approximately $113.5 million in gross proceeds.

The industrial real estate investment trust said the buyer was Exeter Property Group LLC, noting that the properties in the portfolio are fully leased to seven tenants.

STAG Industrial earlier said it was looking to sell a property portfolio in the fourth quarter.