Griffin Announces Closings on Land Purchases

in Local Roundup News

NEW YORK, July 22, 2019 (GLOBE NEWSWIRE) — Griffin Industrial Realty, Inc. (Nasdaq: GRIF) (“Griffin”) today announced that it closed on the purchases of two adjoining parcels of undeveloped land aggregating approximately 44 acres (the “Mecklenburg Land”) in Mecklenburg County, North Carolina, located in the greater Charlotte area. Griffin paid cash of approximately $5.6 million for the Mecklenburg Land using a portion of the proceeds from the $7.7 million sale in May 2019 of approximately 280 acres of undeveloped land that were being held in escrow for a like-kind exchange under Section 1031 of the Internal Revenue Code of 1986, as amended…

 

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