STAG Industrial, a newly formed REIT with an initial portfolio of 91 single-tenant industrial properties in the US, announced terms for its IPO on Tuesday. The Boston, MA-based company plans to raise $220 million by offering 13.75 million shares at a price range of $15 to $17. At the mid-point of the proposed range, STAG Industrial will command a market value of $346 million. STAG Industrial, which was founded in 2003 and booked $60 million in sales last year, plans to list on the NYSE under the symbol STIR. BofA Merrill Lynch, J.P. Morgan and UBS Investment Bank are the lead underwriters on the deal, which is expected to price during the week of April 11.
