GRIFFIN INDUSTRIAL REALTY, INC. (NASDAQ:GRIF) Files An 8-K Regulation FD Disclosure
Item 7.01.
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Regulation FD Disclosure |
On June 12, 2017, Griffin Industrial Realty, Inc. (Griffin or
Registrant) issued a press release announcing that it closed on
the acquisition (the Acquisition) of an approximately 277,000
square foot industrial/warehouse building (the Building) in
Concord, North Carolina, located in the greater Charlotte area.
The Building was constructed in 2015 and is 74% leased. The
Buildings approximately $18.6 million purchase price was paid in
cash at closing using approximately $9.7 million of cash held in
escrow for a like-kind exchange (Like-Kind Exchange) under
Section 1031 of the Internal Revenue Code of 1986, as amended,
and approximately $8.9 million of Griffins cash on hand. The
funds in escrow were from the sale of approximately 67 acres of
undeveloped land in Connecticut that closed in April. The
Building is Griffins first property in the Charlotte area.
A copy of Griffins June 12, 2017 press release is attached as
Exhibit 99.1.
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Item 9.01. |
Financial Statements and Exhibits |
Exhibit 99.1:Registrants June 12, 2017 Press Release (attached
hereto).
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.