Monmouth Real Estate Investment Corporation Announces New Acquisition
FREEHOLD, N.J., Oct. 31, 2013
FREEHOLD, N.J., Oct. 31, 2013 /PRNewswire/ --Monmouth Real Estate Investment
Corporation (NYSE:MNR) today announced the acquisition of a 280,000 square
foot industrial building located at 2552 South 98^th Street, Edwardsville, KS
at a purchase price of $18,818,825. The property is net-leased for 10 years
to International Paper Company, a New York corporation. The building is
situated on approximately 24 acres.
Michael P. Landy, President and CEO, commented, "We are very pleased to
announce the acquisition of this new Class A distribution center.
International Paper is a global leader in the paper and packaging industry.
They are a founding member of the S&P 500 and represent an excellent new
addition to our investment grade tenant roster. Located in the Kansas City
MSA, the property benefits from having close proximity to four major
interstate highways and numerous rail providers. This transaction represents
our third acquisition in the past two weeks with additional closings expected
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-eight industrial properties and one
shopping center located in twenty-seven states, containing a total of
approximately 10.5 million rentable square feet. In addition, the Company
owns a portfolio of REIT securities.
SOURCE Monmouth Real Estate Investment Corporation
Contact: Susan Jordan, 732-577-9996
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