Griffin Announces Fiscal 2020 Second Quarter Leasing and Update on Rent Collection

NEW YORK, June 16, 2020 (GLOBE NEWSWIRE) -- Griffin Industrial Realty, Inc. (Nasdaq: GRIF) (“Griffin”) announced the following updates on leasing and the impact of the COVID-19 pandemic on rent collections:

Leasing

Griffin reported the following for its industrial/warehouse portfolio for the three months ended May 31, 2020 (the “2020 second quarter”):

	Number				Weighted Avg. Lease		Weighted Avg. Lease	Weighted Average Rent Growth2
	of Leases		Square Feet		Term in Years		Costs per SF per Year1		Straight-Line  Basis		Cash Basis
New Leases	3		283,000		6.4		$0.89
Renewal Leases	2		126,000		4.4		$0.24
Total/Average	5		409,000		5.8		$0.69		21.4%		8.1%

Griffin’s industrial/warehouse portfolio’s percentage leased was as follows: