case Studies

DMI Distribution:
Long Term – Sale-Leaseback

GlaxoSmithKline:
Short Term – Credit Tenant

General Dynamics: 3rd Party Transaction

GlaxoSmithKline, Knoxville, TN
– Global Healthcare Company
– S&P A Credit Rating

Real Estate
– 157,000 SF warehouse building that was built in 1983 and renovated for Glaxo’s occupancy in 1989.
– The facility is fully air-conditioned and contains 8,000 SF of freezer space which is important to the tenant due to the storage and distribution of vaccines from this facility.
– One of 2 national distribution centers in the US for Glaxo

Transaction Details
– Glaxo had 4.5 years remaining on a 5 year lease with a termination option in 2.5 years
– Transaction closed January 2005
– Seller was a Boston based group who chose STAG based upon credibility and certainty of close.