STAG Industrial announced it signed a new lease for 102,060 square feet of warehouse and distribution space at its development project located at 452 Casual Drive in Wellford, South Carolina. The lease is with a wholesale apparel and promotional product distributor.
The 30-month lease is set to commence on April 1, 2025, and includes 3.5% annual rent escalations. This development asset, substantially completed in June 2024, is now 69% leased.
This transaction brings STAG's completed development portfolio to an aggregate lease-up rate of 51%. The successful leasing demonstrates the strength of STAG's development platform and operational capabilities.
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