Griffin Announces Fiscal 2019 Second Quarter Leasing
June 06 2019 - 9:00AM
Griffin Industrial Realty, Inc. (Nasdaq: GRIF)
(“Griffin”) announced that in the three months ended May
31, 2019 (the “2019 second quarter”) a tenant that leased
approximately 34,000 square feet in Griffin’s two multi-story
office buildings in Griffin Center in Windsor, Connecticut under
leases scheduled to expire on July 31, 2019 relocated into
approximately 25,000 square feet in one of those Griffin
Center office buildings under a new six year lease. This tenant
relocation resulted in a net reduction of approximately 9,000
square feet of office/flex space under lease. Also in the 2019
second quarter, an approximately 23,000 square foot lease in one of
Griffin’s Connecticut industrial/warehouse buildings expired and
was not renewed.
As of May 31, 2019, Griffin’s twenty-five industrial/warehouse
buildings aggregating approximately 3,645,000 square feet (89% of
Griffin’s total real estate portfolio) were 94% leased. Most of the
industrial/warehouse vacancy reflects 6975 Ambassador Drive (“6975
Ambassador”), an approximately 134,000 square foot building in the
Lehigh Valley of Pennsylvania that was built on speculation and
completed in the fiscal 2018 fourth quarter that is not yet leased.
Griffin’s twelve office/flex buildings aggregating approximately
433,000 square feet were 72% leased as of May 31, 2019.
Griffin’s total real estate portfolio of approximately 4,078,000
square feet was 92% leased as of May 31, 2019 (95% leased excluding
6975 Ambassador).
CONTACT:
Anthony GaliciChief Financial
Officer(860) 286-1307
Griffin Industrial Realty (NASDAQ:GRIF)
Historical Stock Chart
From Apr 2024 to May 2024
Griffin Industrial Realty (NASDAQ:GRIF)
Historical Stock Chart
From May 2023 to May 2024