Monmouth Real Estate Investment Corporation Announces New Acquisition

    Monmouth Real Estate Investment Corporation Announces New Acquisition

PR Newswire

FREEHOLD, N.J., Dec. 20, 2012

FREEHOLD, N.J., Dec. 20, 2012 /PRNewswire/ -- Monmouth Real Estate Investment
Corporation (NYSE: MNR) today announced the acquisition of a 615,305 square
foot industrial building located at 12385 Crossroads Drive, Olive Branch,
DeSota County, Mississippi, at a purchase price of $28,000,000. The property
is net-leased for 10 years to Milwaukee Electric Tool Corporation and is
guaranteed by their parent company, Techtronic Industries Company Limited. The
building is situated on approximately 39 acres. Monmouth financed this
acquisition with $17.5 million in mortgage debt with an interest rate of
3.76%. This building is designed for LEED certification and is expandable by
an additional 215,000 square feet.

Michael P. Landy, COO, commented, "We are very pleased to announce the
acquisition of this brand new, Class A distribution center built for the
Milwaukee Electric Tool Corporation by Industrial Developments International
(IDI). Milwaukee Tool, a manufacturer of high quality, heavy-duty electric
power tools and accessories, represents an excellent new relationship for
Monmouth. The company was founded in 1924 and has been in Olive Branch for
over 20 years."

"Olive Branch is situated near Memphis which represents one of the most
strategic logistics hubs in the country containing FedEx's World Hub, five
Class I railroads, seven interstate and U.S. highways, and the nation's
fourth-largest inland port. This new acquisition further enhances Monmouth's
already strong presence in this important market."

Monmouth Real Estate Investment Corporation, which was organized in 1968, is a
publicly owned real estate investment trust (REIT) specializing in net-leased
industrial properties subject to long-term leases primarily to investment
grade tenants. The Company is a fully integrated and self-managed real estate
company, whose property portfolio now consists of seventy-three industrial
properties and one shopping center located in twenty-six states. In addition,
the Company owns a portfolio of REIT securities.

SOURCE Monmouth Real Estate Investment Corporation

Contact: Susan Jordan, +1-732-577-9996
 
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