Monmouth Real Estate Investment Corporation Announces New Acquisition
FREEHOLD, N.J., June 18, 2013
FREEHOLD, N.J., June 18, 2013 /PRNewswire/ -- Monmouth Real Estate Investment
Corporation (NYSE:MNR) today announced the acquisition of a new built to suit
103,402 square foot industrial building located at 1935 Blue Hills Drive,
Roanoke, VA at a purchase price of $10,200,000. The property is net-leased
for 10 years to FedEx Ground Package System, Inc., a Delaware corporation. The
building is situated on approximately 22 acres.
Michael P. Landy, President and CEO, commented, "We are very pleased to
announce the acquisition of this new distribution center for FedEx Ground.
This property is ideally situated near the Roanoke Regional Airport and
Interstate 81. Roanoke's economy enjoys an excellent transportation
infrastructure and favorable business climate. This increases our portfolio
to seventy-four properties, containing 9.3 million square feet of gross
leasable area, strategically situated across twenty-six states."
Monmouth Real Estate Investment Corporation, founded in 1968 and one of the
oldest public equity REITs in the U.S., specializes 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 consists of seventy-three industrial properties and one
shopping center. In addition, the Company owns a portfolio of REIT
SOURCE Monmouth Real Estate Investment Corporation
Contact: Susan Jordan, 732-577-9996
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