GRIFFIN INDUSTRIAL REALTY, INC. (NASDAQ:GRIF) Files An 8-K Regulation FD Disclosure

On June 6, 2019, Griffin Industrial Realty, Inc. (“Griffin” or “Registrant”) issued a press release announcing 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).

A copy of Griffin’s June 6, 2019 press release is attached as Exhibit 99.1.

Exhibit 99.1:  Registrant’s June 6, 2019 Press Release (attached hereto). 

GRIFFIN INDUSTRIAL REALTY, INC. Exhibit
EX-99.1 2 grif-20190606ex991b80e41.htm EX-99.1 grif_Current Folio_8K_Leasing_Exhibit_99.1               NEWS FROM:     Exhibit 99.1         GRIFFIN INDUSTRIAL REALTY,…
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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.