GRIFFIN INDUSTRIAL REALTY, INC. (NASDAQ:GRIF) Files An 8-K Regulation FD DisclosureItem 7.01.
Regulation FD Disclosure
GRIFFIN INDUSTRIAL REALTY, INC. (NASDAQ:GRIF) Files An 8-K Regulation FD Disclosure
On December 4, 2018, Griffin Industrial Realty, Inc. (“Griffin” or “Registrant”) issued a press release reporting that in the three months ended November 30, 2018 (the “2018 fourth quarter”) it leased approximately 75,000 square feet of industrial/warehouse space and renewed leases of approximately 149,000 square feet of industrial/warehouse space. The new leases included an approximate 63,000 square foot lease in 330 Stone Road, the approximately 137,000 square foot industrial/warehouse building in New England Tradeport (“NE Tradeport”), Griffin’s industrial park located in Windsor and East Granby, Connecticut, that was built on speculation and placed in service just prior to the end of fiscal 2017. 330 Stone Road is now fully leased.
In the 2018 fourth quarter, Griffin renewed several leases aggregating approximately 149,000 square feet of industrial/warehouse space in NE Tradeport, including a three year extension of a full building lease of approximately 127,000 square feet that was scheduled to expire on February 28, 2019. Additionally, as previously announced, in the 2018 fourth quarter Griffin added two newly completed industrial/warehouse buildings to its portfolio, an approximately 234,000 square foot build-to-suit industrial/warehouse building (“220 Tradeport”) in NE Tradeport and an approximately 134,000 square foot industrial/warehouse building (“6975 Ambassador”) that was built on speculation in the Lehigh Valley of Pennsylvania. A full building lease for twelve years and six months with an investment grade company at 220 Tradeport commenced on September 5, 2018. 6975 Ambassador is not yet leased.
As of November 30, 2018, Griffin’s approximately 3,645,000 square foot industrial/warehouse portfolio, comprised of approximately 2,051,000 square feet in the Hartford, Connecticut area, 1,317,000 square feet in the Lehigh Valley and 277,000 square feet in the Charlotte, North Carolina area, was 95% leased (99% leased excluding 6975 Ambassador). Griffin’s office/flex portfolio of approximately 433,000 square feet (11% of Griffin’s total portfolio) was 72% leased as of November 30, 2018. Griffin’s total real estate portfolio of approximately 4,078,000 square feet was 93% leased as of November 30, 2018 (96% leased excluding 6975 Ambassador).
A copy of Griffin’s December 4, 2018 press release is attached as Exhibit 99.1.
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Item 9.01. |
Financial Statements and Exhibits |
Exhibit 99.1:Registrant’s December 4, 2018 Press Release (attached hereto).
GRIFFIN INDUSTRIAL REALTY, INC. ExhibitEX-99.1 2 grif-20181204ex9912f413c.htm EX-99.1 grif_Current Folio_8K_Leasing_Exhibit_99.1 NEWS FROM: Exhibit 99.1 GRIFFIN INDUSTRIAL REALTY,…To view the full exhibit click here
About GRIFFIN INDUSTRIAL REALTY, INC. (NASDAQ:GRIF)
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.
