UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

 

FORM 8-K

Current Report

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

June 6, 2016

(Date of earliest event reported)

 

 

GRIFFIN INDUSTRIAL REALTY, INC.

(Exact name of registrant as specified in charter)

 

 

 

____________________________________________________________________________________

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

 

 

 

On June 6, 2016, Griffin Industrial Realty, Inc. (“Griffin” or “Registrant”) issued a press release announcing that in the fiscal 2016 second quarter, Griffin leased approximately 16,000 square feet of previously vacant office space and extended, for an additional two years, a lease of approximately 127,000 square feet of industrial/warehouse space that was scheduled to expire in February 2017. The office space leased was in Griffin’s approximately 48,000 square foot single story office building (“21 Griffin Road North”) in Griffin Center, and resulted in 21 Griffin Road North being fully leased. The lease extension was for a full building lease in New England Tradeport (“NE Tradeport”), Griffin’s industrial park in Windsor and East Granby, Connecticut. Also in the fiscal 2016 second quarter, a full building lease of approximately 57,000 square feet in NE Tradeport expired. In fiscal 2014, the tenant in that building entered into a ten year full building lease of an approximately 138,000 square foot building in one of Griffin’s other NE Tradeport buildings and extended its lease in the smaller NE Tradeport building during its period of transition to the larger facility.

 

In the first six months of fiscal 2016, Griffin has leased approximately 132,000 square feet of previously vacant industrial/warehouse space and approximately 16,000 square feet of previously vacant office space, while leases aggregating approximately 58,000 square feet of industrial/warehouse space and approximately 31,000 square feet of office/flex space expired and were not renewed. The leasing of industrial/warehouse space includes approximately 102,000 square feet in 4270 Fritch Drive (“4270 Fritch Drive”), one of Griffin’s industrial/warehouse buildings in the Lehigh Valley of Pennsylvania. As a result of the new lease at 4270 Fritch Drive, Griffin’s four existing Lehigh Valley industrial/warehouse buildings are fully leased. In the fiscal 2015 fourth quarter, Griffin started construction on its fifth industrial/warehouse building in the Lehigh Valley, 5210 Jaindl Boulevard (“5210 Jaindl Boulevard”).  This approximately 252,000 square foot industrial/warehouse building is expected to be completed in June 2016 and is not yet leased. Including 5210 Jaindl Boulevard, when completed, Griffin will own approximately 1,183,000 square feet of industrial/warehouse space in the Lehigh Valley.

 

As of the end of the fiscal 2016 second quarter, Griffin’s portfolio of approximately 3,044,000 square feet (excluding 5210 Jaindl Boulevard) was approximately 91% leased, as compared to approximately 89% leased at the end of fiscal 2015.

 

A copy of Griffin’s June 6, 2016 press release is  attached as Exhibit 99.1.

                                                                                               

 

Exhibit 99.1:  Registrant’s June 6, 2016 Press Release (attached hereto).

 

This 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 Exchange Act of 1934, as amended. These forward looking statements include the timing on the completion of

construction of 5210 Jaindl Boulevard. 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. Important factors that could affect the outcome of the events set forth in these statements are described in Griffin’s Securities and Exchange Commission filings, including the “Business”, “Risk Factors” and “Forward-Looking Information” sections in Griffin’s 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 except as required by law. 

 

 

 

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.