FREEHOLD, N.J., Aug. 15,
2018 /PRNewswire/ -- Monmouth Real Estate Investment Corporation
(NYSE: MNR) today announced the acquisition of a brand new 265,318
square foot industrial building located at 6850 Weber Boulevard, N.
Charleston, SC at a purchase price
of $47,174,296. The property is
net-leased for 15 years to FedEx Ground Packaging System, Inc., a
Delaware corporation. The building
is situated on approximately 50 acres.
Michael P. Landy, President and
CEO, commented, "We are very pleased to announce this new
acquisition. This property is ideally located near the Charleston International Airport and has ample
acreage to accommodate future expansion. The Port of Charleston is one of our nation's fastest
growing ports and has the deepest channel in the southeast region.
Boeing, BMW, Daimler, Volvo and several other large companies have
chosen to locate and expand their operations here. This acquisition
marks our fourth property located in Charleston. Monmouth is very pleased to continue to
increase our strong presence in this dynamic and growing
market."
Monmouth Real Estate Investment Corporation, founded in 1968, is
one of the oldest public equity REITs in the world. 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 20.8 million rentable square
feet, geographically diversified across 30 states. In
addition, the Company owns a portfolio of REIT securities.
View original
content:http://www.prnewswire.com/news-releases/monmouth-real-estate-announces-new-acquisition-in-charleston-sc-300697664.html
SOURCE Monmouth Real Estate Investment Corporation