Griffin Industrial (GRIF) 29.61 $GRIF
Griffin Announces Fiscal 2016 Second Quarter Leasing
GlobeNewswire - Mon Jun 06, 9:05AM CDT
Griffin Industrial Realty, Inc. (NASDAQ:GRIF) ("Griffin"
announced 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.
GRIF: 29.61 (-0.89)
Griffin Announces Closing on Mortgage Loan and Short-Term Extension of Credit Line
GlobeNewswire - Wed Apr 27, 8:33AM CDT
Griffin Industrial Realty, Inc. (NASDAQ:GRIF) ("Griffin" announced that it closed on a $14.35 million nonrecourse mortgage loan (the "Mortgage Loan" with People's United Bank ("People's United". The Mortgage Loan is collateralized by five industrial/warehouse buildings aggregating approximately 338,000 square feet in New England Tradeport ("NE Tradeport", Griffin's industrial park in Windsor and East Granby, Connecticut. Four of the five NE Tradeport buildings, aggregating approximately 240,000 square feet, collateralized an existing nonrecourse mortgage loan with People's United with a balance of approximately $7.4 million that was refinanced into the Mortgage Loan. The refinanced mortgage loan was scheduled to mature on August 1, 2019 and, with a related interest rate swap agreement, had an effective interest rate of 6.58%. At the closing of the Mortgage Loan, Griffin received cash proceeds (before financing costs) of approximately $6.9 million. The Mortgage Loan has a floating interest rate of the one month LIBOR rate plus 2.0%, but Griffin entered into an interest rate swap agreement with People's United at closing that, combined with the existing interest rate swap agreement with People's United, effectively fixes the interest rate on the Mortgage Loan at 4.17%. The Mortgage Loan has a ten year term, with principal payments based on a twenty-five year amortization schedule. Griffin intends to use the mortgage proceeds for general business purposes, including continued investment in its real estate assets.
GRIF: 29.61 (-0.89)
Griffin Announces Fiscal 2016 First Quarter Results
GlobeNewswire - Fri Apr 08, 9:07AM CDT
Griffin Industrial Realty, Inc. (Nasdaq:GRIF) ("Griffin" reported rental revenue and total revenue for the three months ended February 29, 2016 (the "2016 first quarter" of $6,682,000, as compared to rental revenue of $5,407,000, revenue from property sales of $826,000 and total revenue of $6,233,000 for the three months ended February 28, 2015 (the "2015 first quarter". Griffin reported operating income of $804,000 in the 2016 first quarter as compared to an operating loss of ($213,000) in the 2015 first quarter. Griffin reported a net loss of ($335,000) and a basic and diluted net loss per share of ($0.07) in the 2016 first quarter, as compared to a net loss of ($708,000) and a basic and diluted net loss per share of ($0.14) in the 2015 first quarter.
GRIF: 29.61 (-0.89)
Griffin Announces Stock Repurchase Program
GlobeNewswire - Fri Apr 01, 8:00AM CDT
Griffin Industrial Realty, Inc. (NASDAQ:GRIF) ("Griffin" announced today that its Board of Directors has authorized a program under which the Company may repurchase up to $5,000,000 of its outstanding common stock from time to time in privately negotiated transactions. Purchases under the stock repurchase program are expected to begin after Griffin's 2016 Annual Meeting of Stockholders scheduled for May 10, 2016. The stock repurchase program will expire on May 10, 2017. The amount and timing of purchases under the stock repurchase program will be dependent on market and other conditions. "Griffin's management is confident in the strength of the Company's real estate assets, operations and balance sheet," said Michael S. Gamzon, Griffin's President and Chief Executive Officer. "The Board of Directors believes this stock repurchase program represents a good use of a portion of Griffin's funds while we continue to invest our capital in long-term growth opportunities and enhance stockholder value. Additionally, the repurchase program may potentially serve to help offset future dilution from the exercise of stock options." The stock repurchase program does not obligate Griffin to repurchase any shares and may be suspended at any time at management's discretion. Griffin currently has 5,152,708 shares of common stock outstanding.
GRIF: 29.61 (-0.89)
Griffin Announces Fiscal 2016 First Quarter Leasing
GlobeNewswire - Wed Mar 09, 11:50AM CST
Griffin Industrial Realty, Inc. (NASDAQ:GRIF) ("Griffin" announced that in the fiscal 2016 first quarter, Griffin leased approximately 132,000 square feet of industrial/warehouse space, including the previously announced lease of 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, and a full building lease of an approximately 31,000 square foot industrial/warehouse building in Bloomfield, Connecticut. The new lease at 4270 Fritch Drive is expected to become effective in the fiscal 2016 second quarter, and as a result of this lease, Griffin's four Lehigh Valley industrial/warehouse buildings are now fully leased. In the fiscal 2015 fourth quarter, Griffin started construction on 5210 Jaindl Boulevard ("5210 Jaindl Boulevard", an approximately 252,000 square foot industrial/warehouse building in the Lehigh Valley that is not yet leased. The shell of 5210 Jaindl Boulevard is expected to be completed in the fiscal 2016 second quarter. Including 5210 Jaindl Boulevard, when completed, Griffin will own approximately 1,183,000 square feet of industrial/warehouse space in the Lehigh Valley.
GRIF: 29.61 (-0.89)
Griffin Announces Changes in Management and Its Board of Directors
GlobeNewswire - Wed Jan 20, 9:20AM CST
Griffin Industrial Realty, Inc. (Nasdaq:GRIF) ("Griffin" reported that its Board of Directors has implemented the previously announced executive succession plan, pursuant to which Michael S. Gamzon has been appointed to the positions of President and Chief Executive Officer effective January 1, 2016, succeeding Frederick Michael Danziger, who had been Chief Executive Officer of Griffin since 1997. Mr. Danziger remains the Chairman of Griffin's Board of Directors. As part of this transition, on January 19, 2016, Mr. Gamzon was elected a member of the Board of Directors, succeeding David M. Danziger, who resigned from the Board of Directors effective upon the election of Mr. Gamzon. The resignation of Mr. David M. Danziger was to enable Griffin to maintain compliance with NASDAQ regulations that require boards to have a majority of their members be independent directors. Mr. David Danziger had been a Director since 2006.
GRIF: 29.61 (-0.89)
Griffin Announces Fiscal 2015 Fourth Quarter Leasing
GlobeNewswire - Wed Dec 16, 9:21AM CST
Griffin Industrial Realty, Inc. (Nasdaq:GRIF) ("Griffin" announced that in the fiscal 2015 fourth quarter, the tenant that is leasing approximately 196,000 square feet of the approximately 280,000 square foot industrial building at 5220 Jaindl Boulevard in Hanover Township in the Lehigh Valley of Pennsylvania ("5220 Jaindl Boulevard" exercised its option to lease the balance of the building. 5220 Jaindl Boulevard was constructed in fiscal 2015 and placed in service at the end of the fiscal 2015 third quarter. The lease of the remaining space in 5220 Jaindl Boulevard is scheduled to become effective in June 2016. Also in the fiscal 2015 fourth quarter, Griffin entered into two new leases of industrial space aggregating approximately 39,000 square feet in New England Tradeport ("Tradeport", Griffin's industrial park located in Windsor and East Granby, Connecticut and renewed and extended a lease in Tradeport of approximately 127,000 square feet.
GRIF: 29.61 (-0.89)
Griffin Announces Fiscal 2015 Third Quarter Results
GlobeNewswire - Fri Oct 09, 9:46AM CDT
Griffin Industrial Realty, Inc. (Nasdaq:GRIF) ("Griffin" reported total revenue for the fiscal 2015 third quarter (the "2015 third quarter" of $8,184,000 as compared to total revenue for the fiscal 2014 third quarter (the "2014 third quarter" of $6,099,000. Griffin reported total revenue for the 2015 nine month period of $20,613,000 as compared to total revenue for the 2014 nine month period of $16,499,000.
GRIF: 29.61 (-0.89)
Griffin Announces Termination of Tenant's Option to Purchase Imperial's Florida Farm
GlobeNewswire - Tue Sep 01, 10:34AM CDT
Griffin Industrial Realty, Inc. (Nasdaq: GRIF) ("Griffin" announced that the landscape nursery company tenant that, earlier this year, notified Griffin's wholly-owned subsidiary, Imperial Nurseries, Inc. ("Imperial", that it was exercising its option under the lease of Imperial's Quincy, Florida production nursery (the "Florida Farm" to purchase the Florida Farm, recently informed Imperial that it would not close on the purchase of the Florida Farm. Imperial and the tenant have entered into a Holdover and Settlement Agreement (the "Agreement" which permits the tenant to continue to occupy the Florida Farm at an agreed upon rental rate for eight months after August 31, 2015, the scheduled expiration date of the Florida Farm lease. The Agreement also stipulates that Imperial will retain the deposit against the purchase price made by the tenant when it exercised its option to purchase the Florida Farm. Imperial expects to seek a sale or lease of the Florida Farm at the conclusion of the tenant's occupancy of the Florida Farm under the Agreement.
GRIF: 29.61 (-0.89)
Griffin Announces Fiscal 2015 Second Quarter Results
GlobeNewswire - Fri Jul 10, 10:03AM CDT
Griffin Industrial Realty, Inc. (Nasdaq:GRIF) ("Griffin" reported total revenue for the fiscal 2015 second quarter (the "2015 second quarter" of $6,196,000 as compared to total revenue for the fiscal 2014 second quarter (the "2014 second quarter" of $5,341,000. Griffin reported total revenue for the 2015 six month period of $12,429,000 as compared to total revenue for the 2014 six month period of $10,400,000.
GRIF: 29.61 (-0.89)
Griffin Announces New Company Name
GlobeNewswire - Wed May 13, 4:58PM CDT
Griffin Land & Nurseries, Inc. (Nasdaq:GRIF) ("Griffin" announced today that its Board of Directors has approved the change of its company name to Griffin Industrial Realty, Inc. Frederick M. Danziger, Griffin's Chairman and Chief Executive Officer stated that "the new name better identifies Griffin with its ongoing real estate business after the sale of the landscape nursery business last year." Griffin will continue to use the GRIF ticker symbol on the Nasdaq National Market.
GRIF: 29.61 (-0.89)
Nasdaq stocks posting largest volume decreases
AP - Thu Apr 23, 5:05PM CDT
NEW YORK (AP) — A look at the 10 biggest volume decliners on Nasdaq at the close of trading:
SSFN: 6.56 (+0.21), GRIF: 29.61 (-0.89), ASUR: 4.93 (+0.29), NVSL: 10.95 (-0.02), SLTC: 3.83 (-0.09), CWAY: 12.50 (-0.15), PNTR: 5.93 (-0.11), WBB: 19.74 (-0.26), OVLY: 9.52 (-0.04), MLVF: 15.75 (-0.08), WAYN: 12.50 (unch), KTEC: 9.28 (+0.08), GFED: 16.00 (-0.01), CMSB: 13.25 (+0.06)
Griffin Announces Exercise of Tenant's Option to Purchase Imperial's Florida Farm
GlobeNewswire - Thu Apr 23, 3:22PM CDT
Griffin Land & Nurseries, Inc. (Nasdaq:GRIF) ("Griffin" announced that the landscape nursery company that leases the Quincy, Florida production nursery (the "Florida Farm" previously used by Griffin's wholly-owned subsidiary, Imperial Nurseries, Inc. ("Imperial", has given notice to Imperial that it intends to exercise its option under the Lease and Purchase Agreement (the "Agreement" to purchase the Florida Farm for $4,075,000. Under the terms of the Agreement, the tenant is required to provide a deposit to Imperial by May 31, 2015 and close on the purchase no later than August 31, 2015. If the deposit is not received when due, the notice to purchase the Florida Farm would become void. If completed under its current terms, Griffin expects to report a pretax gain of approximately $2,500,000 from the sale of the Florida Farm. There is no guarantee that the sale of the Florida Farm will be completed under its current terms, or at all.
GRIF: 29.61 (-0.89)
Griffin reports 1Q loss
Automated Insights - Thu Apr 09, 9:25AM CDT
NEW YORK (AP) _ Griffin Land & Nurseries Inc. (GRIF) on Thursday reported a loss of $708,000 in its fiscal first quarter.
GRIF: 29.61 (-0.89)
Griffin Announces Fiscal 2016 Second Quarter Leasing
GlobeNewswire - Mon Jun 06, 9:05AM CDT
Griffin Industrial Realty, Inc. (NASDAQ:GRIF) ("Griffin"
announced 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. GRIF: 29.61 (-0.89)
Griffin Announces Closing on Mortgage Loan and Short-Term Extension of Credit Line
GlobeNewswire - Wed Apr 27, 8:33AM CDT
Griffin Industrial Realty, Inc. (NASDAQ:GRIF) ("Griffin"
announced that it closed on a $14.35 million nonrecourse mortgage loan (the "Mortgage Loan" with People's United Bank ("People's United". The Mortgage Loan is collateralized by five industrial/warehouse buildings aggregating approximately 338,000 square feet in New England Tradeport ("NE Tradeport", Griffin's industrial park in Windsor and East Granby, Connecticut. Four of the five NE Tradeport buildings, aggregating approximately 240,000 square feet, collateralized an existing nonrecourse mortgage loan with People's United with a balance of approximately $7.4 million that was refinanced into the Mortgage Loan. The refinanced mortgage loan was scheduled to mature on August 1, 2019 and, with a related interest rate swap agreement, had an effective interest rate of 6.58%. At the closing of the Mortgage Loan, Griffin received cash proceeds (before financing costs) of approximately $6.9 million. The Mortgage Loan has a floating interest rate of the one month LIBOR rate plus 2.0%, but Griffin entered into an interest rate swap agreement with People's United at closing that, combined with the existing interest rate swap agreement with People's United, effectively fixes the interest rate on the Mortgage Loan at 4.17%. The Mortgage Loan has a ten year term, with principal payments based on a twenty-five year amortization schedule. Griffin intends to use the mortgage proceeds for general business purposes, including continued investment in its real estate assets. GRIF: 29.61 (-0.89)
Griffin Announces Fiscal 2016 First Quarter Results
GlobeNewswire - Fri Apr 08, 9:07AM CDT
Griffin Industrial Realty, Inc. (Nasdaq:GRIF) ("Griffin"
reported rental revenue and total revenue for the three months ended February 29, 2016 (the "2016 first quarter" of $6,682,000, as compared to rental revenue of $5,407,000, revenue from property sales of $826,000 and total revenue of $6,233,000 for the three months ended February 28, 2015 (the "2015 first quarter". Griffin reported operating income of $804,000 in the 2016 first quarter as compared to an operating loss of ($213,000) in the 2015 first quarter. Griffin reported a net loss of ($335,000) and a basic and diluted net loss per share of ($0.07) in the 2016 first quarter, as compared to a net loss of ($708,000) and a basic and diluted net loss per share of ($0.14) in the 2015 first quarter. GRIF: 29.61 (-0.89)
Griffin Announces Stock Repurchase Program
GlobeNewswire - Fri Apr 01, 8:00AM CDT
Griffin Industrial Realty, Inc. (NASDAQ:GRIF) ("Griffin"
announced today that its Board of Directors has authorized a program under which the Company may repurchase up to $5,000,000 of its outstanding common stock from time to time in privately negotiated transactions. Purchases under the stock repurchase program are expected to begin after Griffin's 2016 Annual Meeting of Stockholders scheduled for May 10, 2016. The stock repurchase program will expire on May 10, 2017. The amount and timing of purchases under the stock repurchase program will be dependent on market and other conditions. "Griffin's management is confident in the strength of the Company's real estate assets, operations and balance sheet," said Michael S. Gamzon, Griffin's President and Chief Executive Officer. "The Board of Directors believes this stock repurchase program represents a good use of a portion of Griffin's funds while we continue to invest our capital in long-term growth opportunities and enhance stockholder value. Additionally, the repurchase program may potentially serve to help offset future dilution from the exercise of stock options." The stock repurchase program does not obligate Griffin to repurchase any shares and may be suspended at any time at management's discretion. Griffin currently has 5,152,708 shares of common stock outstanding. GRIF: 29.61 (-0.89)
Griffin Announces Fiscal 2016 First Quarter Leasing
GlobeNewswire - Wed Mar 09, 11:50AM CST
Griffin Industrial Realty, Inc. (NASDAQ:GRIF) ("Griffin"
announced that in the fiscal 2016 first quarter, Griffin leased approximately 132,000 square feet of industrial/warehouse space, including the previously announced lease of 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, and a full building lease of an approximately 31,000 square foot industrial/warehouse building in Bloomfield, Connecticut. The new lease at 4270 Fritch Drive is expected to become effective in the fiscal 2016 second quarter, and as a result of this lease, Griffin's four Lehigh Valley industrial/warehouse buildings are now fully leased. In the fiscal 2015 fourth quarter, Griffin started construction on 5210 Jaindl Boulevard ("5210 Jaindl Boulevard", an approximately 252,000 square foot industrial/warehouse building in the Lehigh Valley that is not yet leased. The shell of 5210 Jaindl Boulevard is expected to be completed in the fiscal 2016 second quarter. Including 5210 Jaindl Boulevard, when completed, Griffin will own approximately 1,183,000 square feet of industrial/warehouse space in the Lehigh Valley. GRIF: 29.61 (-0.89)
Griffin Announces Changes in Management and Its Board of Directors
GlobeNewswire - Wed Jan 20, 9:20AM CST
Griffin Industrial Realty, Inc. (Nasdaq:GRIF) ("Griffin"
reported that its Board of Directors has implemented the previously announced executive succession plan, pursuant to which Michael S. Gamzon has been appointed to the positions of President and Chief Executive Officer effective January 1, 2016, succeeding Frederick Michael Danziger, who had been Chief Executive Officer of Griffin since 1997. Mr. Danziger remains the Chairman of Griffin's Board of Directors. As part of this transition, on January 19, 2016, Mr. Gamzon was elected a member of the Board of Directors, succeeding David M. Danziger, who resigned from the Board of Directors effective upon the election of Mr. Gamzon. The resignation of Mr. David M. Danziger was to enable Griffin to maintain compliance with NASDAQ regulations that require boards to have a majority of their members be independent directors. Mr. David Danziger had been a Director since 2006. GRIF: 29.61 (-0.89)
Griffin Announces Fiscal 2015 Fourth Quarter Leasing
GlobeNewswire - Wed Dec 16, 9:21AM CST
Griffin Industrial Realty, Inc. (Nasdaq:GRIF) ("Griffin"
announced that in the fiscal 2015 fourth quarter, the tenant that is leasing approximately 196,000 square feet of the approximately 280,000 square foot industrial building at 5220 Jaindl Boulevard in Hanover Township in the Lehigh Valley of Pennsylvania ("5220 Jaindl Boulevard" exercised its option to lease the balance of the building. 5220 Jaindl Boulevard was constructed in fiscal 2015 and placed in service at the end of the fiscal 2015 third quarter. The lease of the remaining space in 5220 Jaindl Boulevard is scheduled to become effective in June 2016. Also in the fiscal 2015 fourth quarter, Griffin entered into two new leases of industrial space aggregating approximately 39,000 square feet in New England Tradeport ("Tradeport", Griffin's industrial park located in Windsor and East Granby, Connecticut and renewed and extended a lease in Tradeport of approximately 127,000 square feet. GRIF: 29.61 (-0.89)
Griffin Announces Fiscal 2015 Third Quarter Results
GlobeNewswire - Fri Oct 09, 9:46AM CDT
Griffin Industrial Realty, Inc. (Nasdaq:GRIF) ("Griffin"
reported total revenue for the fiscal 2015 third quarter (the "2015 third quarter" of $8,184,000 as compared to total revenue for the fiscal 2014 third quarter (the "2014 third quarter" of $6,099,000. Griffin reported total revenue for the 2015 nine month period of $20,613,000 as compared to total revenue for the 2014 nine month period of $16,499,000. GRIF: 29.61 (-0.89)
Griffin Announces Termination of Tenant's Option to Purchase Imperial's Florida Farm
GlobeNewswire - Tue Sep 01, 10:34AM CDT
Griffin Industrial Realty, Inc. (Nasdaq: GRIF) ("Griffin"
announced that the landscape nursery company tenant that, earlier this year, notified Griffin's wholly-owned subsidiary, Imperial Nurseries, Inc. ("Imperial", that it was exercising its option under the lease of Imperial's Quincy, Florida production nursery (the "Florida Farm" to purchase the Florida Farm, recently informed Imperial that it would not close on the purchase of the Florida Farm. Imperial and the tenant have entered into a Holdover and Settlement Agreement (the "Agreement" which permits the tenant to continue to occupy the Florida Farm at an agreed upon rental rate for eight months after August 31, 2015, the scheduled expiration date of the Florida Farm lease. The Agreement also stipulates that Imperial will retain the deposit against the purchase price made by the tenant when it exercised its option to purchase the Florida Farm. Imperial expects to seek a sale or lease of the Florida Farm at the conclusion of the tenant's occupancy of the Florida Farm under the Agreement. GRIF: 29.61 (-0.89)
Griffin Announces Fiscal 2015 Second Quarter Results
GlobeNewswire - Fri Jul 10, 10:03AM CDT
Griffin Industrial Realty, Inc. (Nasdaq:GRIF) ("Griffin"
reported total revenue for the fiscal 2015 second quarter (the "2015 second quarter" of $6,196,000 as compared to total revenue for the fiscal 2014 second quarter (the "2014 second quarter" of $5,341,000. Griffin reported total revenue for the 2015 six month period of $12,429,000 as compared to total revenue for the 2014 six month period of $10,400,000. GRIF: 29.61 (-0.89)
Griffin Announces New Company Name
GlobeNewswire - Wed May 13, 4:58PM CDT
Griffin Land & Nurseries, Inc. (Nasdaq:GRIF) ("Griffin"
announced today that its Board of Directors has approved the change of its company name to Griffin Industrial Realty, Inc. Frederick M. Danziger, Griffin's Chairman and Chief Executive Officer stated that "the new name better identifies Griffin with its ongoing real estate business after the sale of the landscape nursery business last year." Griffin will continue to use the GRIF ticker symbol on the Nasdaq National Market. GRIF: 29.61 (-0.89)
Nasdaq stocks posting largest volume decreases
AP - Thu Apr 23, 5:05PM CDT
NEW YORK (AP) — A look at the 10 biggest volume decliners on Nasdaq at the close of trading:
SSFN: 6.56 (+0.21), GRIF: 29.61 (-0.89), ASUR: 4.93 (+0.29), NVSL: 10.95 (-0.02), SLTC: 3.83 (-0.09), CWAY: 12.50 (-0.15), PNTR: 5.93 (-0.11), WBB: 19.74 (-0.26), OVLY: 9.52 (-0.04), MLVF: 15.75 (-0.08), WAYN: 12.50 (unch), KTEC: 9.28 (+0.08), GFED: 16.00 (-0.01), CMSB: 13.25 (+0.06)
Griffin Announces Exercise of Tenant's Option to Purchase Imperial's Florida Farm
GlobeNewswire - Thu Apr 23, 3:22PM CDT
Griffin Land & Nurseries, Inc. (Nasdaq:GRIF) ("Griffin"
announced that the landscape nursery company that leases the Quincy, Florida production nursery (the "Florida Farm" previously used by Griffin's wholly-owned subsidiary, Imperial Nurseries, Inc. ("Imperial", has given notice to Imperial that it intends to exercise its option under the Lease and Purchase Agreement (the "Agreement" to purchase the Florida Farm for $4,075,000. Under the terms of the Agreement, the tenant is required to provide a deposit to Imperial by May 31, 2015 and close on the purchase no later than August 31, 2015. If the deposit is not received when due, the notice to purchase the Florida Farm would become void. If completed under its current terms, Griffin expects to report a pretax gain of approximately $2,500,000 from the sale of the Florida Farm. There is no guarantee that the sale of the Florida Farm will be completed under its current terms, or at all. GRIF: 29.61 (-0.89)
Griffin reports 1Q loss
Automated Insights - Thu Apr 09, 9:25AM CDT
NEW YORK (AP) _ Griffin Land & Nurseries Inc. (GRIF) on Thursday reported a loss of $708,000 in its fiscal first quarter.
GRIF: 29.61 (-0.89)
