FREEHOLD, N.J., June 28, 2018 /PRNewswire/ -- Monmouth Real
Estate Investment Corporation (NYSE: MNR) today announced the
acquisition of a brand new 362,942 square foot industrial building
located at 6735 Trippel Road, Theodore,
AL at a purchase price of $33,688,276. The property is net-leased for 11
years to Amazon Fulfillment Service, Inc., a Delaware corporation. The building is situated
on approximately 31.27 acres.
Michael P. Landy, President and
CEO, commented, "We have long positioned Monmouth as a company with strong linkages to
the digital economy. This acquisition marks our second property
leased to Amazon. The Port of Mobile has been experiencing substantial
demand as the result of the recently completed Panama Canal
expansion. With two interstate highway systems and five Class-1
railroads serving the port, this region is very well situated to
generate meaningful long-term growth."
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 109 properties containing a total of
approximately 20.5 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