Greg Millman's questions to STAG Industrial Inc (STAG) leadership • Q2 2025
Question
Greg Millman from Citi inquired about the leasing market recovery, asking which specific markets are showing stronger signs of improvement versus those that are lagging. He also asked about the impact of well-funded users purchasing assets directly on the transaction market and net absorption.
Answer
CEO William Crooker identified strong Midwest markets like Minneapolis, Milwaukee, and Louisville, while noting that bulk distribution markets such as Indianapolis and Memphis remain weaker. He confirmed that direct sales to users are a notable trend, which benefits landlords by removing vacancy from the market, especially in onshoring and manufacturing-heavy regions.