FREEHOLD, N.J., Dec. 30, 2016 /PRNewswire/ -- Monmouth Real
Estate Investment Corporation (NYSE: MNR) today announced the
acquisition of a new 213,672 square foot industrial building
located at 14001 Jetport Loop in Fort
Myers, FL at a purchase price of $21,001,538. The property is net-leased for 10
years to FedEx Ground Packaging System, Inc., a Delaware corporation. The building is situated
on approximately 22.49 acres.
Michael P. Landy, President and
CEO, commented, "We are very pleased to announce the acquisition of
this mission-critical facility leased to FedEx. This brand new
built-to-suit property is located directly across from the
Southwest Florida International Airport. This valuable land
parcel contains ample acreage to provide for future expansion as
needed. We continue to grow our portfolio one high-quality asset at
a time and with this acquisition we now own one hundred properties
strategically situated across 30 states. Our modern industrial
property portfolio is currently 100% occupied because our buildings
are integral to our tenants' operations."
Monmouth Real Estate Investment Corporation, founded in 1968 is
one of the oldest public equity REITs in the U.S. The Company
specializes in single-tenant, net-leased industrial properties,
subject to long-term leases, primarily to investment grade
tenants. Monmouth Real Estate Investment Corporation is a
fully-integrated and self-managed real estate company, whose
property portfolio consists of one hundred properties located in
thirty states, containing a total of approximately 16.6 million
rentable square feet. In addition, the Company owns a
portfolio of REIT securities.
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SOURCE Monmouth Real Estate Investment Corporation