GRIFFIN INDUSTRIAL REALTY, INC. (NASDAQ:GRIF) Files An 8-K Regulation FD Disclosure
Item 7.01.
Regulation FD Disclosure |
On December 28, 2016, Griffin Industrial Realty, Inc.(Griffin or
Registrant) issued a press release announcing that it entered
into a real estate sales contract (the Sales Contract) for the
sale of approximately 67 acres of undeveloped land for
approximately $10.25 million in cash, before transaction
costs.The land to be sold is in Bloomfield, Connecticut and is
located in Phoenix Crossing, an approximately 268 acre business
park master planned by Griffin that straddles the town line
between Windsor and Bloomfield, Connecticut.Completion of this
transaction is contingent on a number of factors, including the
buyer obtaining all necessary final permits from governmental
authorities for its development plans for the site it would
acquire and the buyer receiving municipal and state economic
development incentives it deems adequate.Under the current terms,
Griffin expects to record a material pretax gain on this
transaction. There is no guarantee that this transaction will be
completed under the current terms, or at all.
A copy of Griffins December 28, 2016 press release is attached as
Exhibit 99.1.
Item 9.01. |
Financial Statements and Exhibits |
Exhibit 99.1:Registrants December 28, 2016 Press Release
(attached hereto).
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 Securities
Exchange Act of 1934, as amended. These forward-looking
statements include the completion and expected pretax gain on the
sale of approximately 67 acres of undeveloped land in Bloomfield,
Connecticut. 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 which could cause actual
results and events to differ materially from those expressed or
implied in the forward-looking statements. Other 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, 2015.
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.
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. GRIFFIN INDUSTRIAL REALTY, INC. (NASDAQ:GRIF) Recent Trading Information
GRIFFIN INDUSTRIAL REALTY, INC. (NASDAQ:GRIF) closed its last trading session up +0.15 at 30.96 with 5,366 shares trading hands.