FREEHOLD, N.J., April 6, 2018 /PRNewswire/ -- Monmouth Real
Estate Investment Corporation (NYSE: MNR) today announced the
acquisition of a brand new 399,440 square foot industrial building
located at 1341 N. Clyde Morris Boulevard, Daytona Beach, FL at a purchase price of
$30,750,540. The property is
net-leased for 10 years to B. Braun Medical Inc., a Pennsylvania corporation. The building is
situated on approximately 27.5 acres.
![Monmouth Real Estate Investment Corporation Monmouth Real Estate Investment Corporation](https://mma.prnewswire.com/media/663752/Braun.jpg)
Michael P. Landy, President and
CEO, commented, "We are pleased to announce this new acquisition.
This built-to-suit property is ideally situated near the
Daytona Beach International
Airport and Interstate 4. Founded in 1839, and headquartered in
Germany, B. Braun is a privately
held medical device company that manufactures, markets, and sells
various healthcare products worldwide. They have a new
manufacturing facility in very close proximity to our distribution
facility. The Florida economy
consistently ranks as one of our nation's strongest. With
approximately 10% of our property portfolio located here in the
Sunshine State, we remain optimistic about our long-term growth
potential. This marks our fourth acquisition in fiscal 2018
comprising 1.7 million square feet totaling $140 million."
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 110 properties containing a total of
approximately 20.3 million rentable square feet, geographically
diversified across 30 states. In addition, the Company owns a
portfolio of REIT securities.
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SOURCE Monmouth Real Estate Investment Corporation