Monmouth Real Estate Investment Corporation Announces New Acquisition

    Monmouth Real Estate Investment Corporation Announces New Acquisition

PR Newswire

FREEHOLD, N.J., Nov. 1, 2013

FREEHOLD, N.J., Nov. 1, 2013 /PRNewswire/ -- Monmouth Real Estate Investment
Corporation (NYSE: MNR) today announced that on October 31, 2013 it closed on
the acquisition of a 122,522 square foot industrial building located at 231
Theater Drive, Blair County, Allegheny Township, Duncansville, PA at a
purchase price of $8,990,000. The property is net-leased for 10 years to
FedEx Ground Package System, Inc., a Delaware corporation. The building is
situated on approximately 14 acres.

Michael P. Landy, President and CEO, commented, "Situated midway between
Harrisburg and Pittsburgh in Altoona, Pennsylvania our new FedEx Ground
facility is very well located. Altoona is a major rail hub that is seeing
increased demand as a result of the shale related activity that has been
taking place in the region. Two of the world's largest natural gas reservoirs,
the Marcellus and Utica Shale basins are situated beneath the ground
throughout much of Pennsylvania. While it is still very early in the drilling
process, these abundant resources will have a very favorable impact on the
entire region for decades to come.

With this transaction, Monmouth has acquired four properties totaling
approximately 1,007,000 square feet in the past two weeks at an aggregate cost
of $58,579,441. In addition to this FedEx facility, the other three single
tenant, built-to-suit industrial properties are net-leased to The American
Bottling Company/Dr Pepper Snapple, Ralcorp/Conagra, and International Paper
Company. The lease terms are 10.5 years, 20 years, and 10 years,
respectively.We anticipate continued growth throughout fiscal 2014."

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-nine industrial properties and one
shopping center located in twenty-seven states, containing a total of
approximately 10.6 million rentable square feet. In addition, the Company
owns a portfolio of REIT securities.

SOURCE Monmouth Real Estate Investment Corporation

Website: http://mreic.com
Contact: Susan Jordan, 732-577-9996
 
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