GRIFFIN INDUSTRIAL REALTY, INC. (NASDAQ:GRIF) Files An 8-K Entry into a Material Definitive Agreement

GRIFFIN INDUSTRIAL REALTY, INC. (NASDAQ:GRIF) Files An 8-K Entry into a Material Definitive Agreement

Item 1.01

Entry into a Material Definitive Agreement

The information set forth in Item 2.03 below regarding a new
financial obligation is incorporated by reference into this Item

Item 2.03

Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a

On March 15, 2017, a subsidiary of Griffin Industrial Realty,
Inc. (Griffin or Registrant) closed on a $12.0 million
nonrecourse mortgage loan (the Mortgage Loan) with Peoples United
Bank, N.A. (Peoples Bank). The Mortgage Loan is collateralized by
two fully leased industrial/warehouse buildings aggregating
approximately 275,000 square feet in New England Tradeport,
Griffins industrial park in Windsor and East Granby, Connecticut.
The Mortgage Loan has a variable interest rate, but Griffin
entered into an interest rate swap agreement with Peoples Bank
that effectively fixes the interest rate at 4.45% over the
Mortgage Loans ten-year term. Principal payments on the Mortgage
Loan are based on a twenty-five year amortization schedule.
Griffin intends to use the mortgage proceeds for general business
purposes, including continued investment in its real estate

Item 7.01

Regulation FD Disclosure

A copy of Griffins March 16, 2017 press release announcing the
closing of the Mortgage Loan is attached as Exhibit 99.1.

Item 9.01

Financial Statements and Exhibits

Exhibit 99.1:Registrants March 16, 2017 Press Release (attached

This Current Report on Form 8-K includes forward-looking
statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Exchange Act of
1934, as amended. These forward-looking statements include
Griffins intention regarding the potential uses of the mortgage
proceeds. Although Griffin believes that its plans, intentions
and expectations reflected in such forward-looking statements are
reasonable, it can give no assurance that such plans, intentions
or expectations will be achieved. The projected information
disclosed herein is based on assumptions and estimates that,
while considered reasonable by Griffin as of the date hereof, are
inherently subject to significant business, economic, competitive
and regulatory uncertainties and contingencies, many of which are
beyond the control of Griffin and could cause actual results and
events to differ materially from those expressed or implied in
the forward-looking statements. Important factors that could
affect the outcome of the events set forth in these statements
are described in Griffins Securities and Exchange Commission
filings, including the Business, Risk Factors and Forward-Looking
Information sections in Griffins Annual Report on Form 10-K for
the fiscal year ended November 30, 2016. Griffin disclaims any
obligation to update any forward-looking statements as a result
of developments occurring after the date of this Current Report
on Form 8-K except as required by law.


Griffin Industrial Realty, Inc. (Griffin), formerly Griffin Land & Nurseries, Inc., is engaged in real estate business. The Company is principally involved in developing, managing and leasing industrial and commercial properties. It owns over 30 buildings consisting of approximately 3.0 million square feet. Approximately 86% of this square footage is industrial/warehouse space, with the balance principally being office/flex space. It leases approximately 89% of its industrial/warehouse space and approximately 85% of its office/flex space. Its commercial and industrial development is focused on NE Tradeport, an industrial park near Bradley International Airport, and Interstate 91, which is located in Windsor and East Granby, Connecticut. Its other commercial development in Connecticut is the combination of its buildings in Griffin Center in Windsor and Bloomfield, Connecticut, and Griffin Center South in Bloomfield. Its residential developments include Simsbury, Suffield and others.


GRIFFIN INDUSTRIAL REALTY, INC. (NASDAQ:GRIF) closed its last trading session up +0.09 at 30.27 with 439 shares trading hands.

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