This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Monmouth Real Estate Investment Corporation Announces New Acquisition

FREEHOLD, N.J., July 18, 2012 /PRNewswire/ -- Monmouth Real Estate Investment Corporation (NYSE:MNR) today announced the acquisition of a 102,594 square foot industrial building located at 685 Alliance Parkway, McClennan County, Waco, Texas, at a purchase price of $8,733,000.  The property is net-leased for 10 years to FedEx Ground Package System, Inc., a Delaware corporation.

The building is situated on approximately 17 acres and has expansion capabilities. This is a brand new construction by Jones Development Company.

Michael P. Landy, COO, commented, "We are very pleased to add this new FedEx Ground facility to our growing portfolio. This marks our seventh acquisition this year. All of these acquisitions have been brand new built-to-suit constructions. We have now added a total of 1 million square feet to our high caliber asset base since September 30th. This increases our portfolio to seventy-two properties, containing 8.5 million square feet of gross leasable area, strategically situated across twenty-six different states."

Monmouth Real Estate Investment Corporation, which was organized in 1968, is a publicly owned real estate investment trust specializing in net-leased industrial properties subject to long-term leases primarily to investment grade tenants. The Company's portfolio now consists of seventy-one industrial properties and one shopping center located in twenty-six states.  In addition, the Company owns a portfolio of REIT securities.

SOURCE Monmouth Real Estate Investment Corporation
Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,374.76 +23.38 0.14%
S&P 500 1,951.13 +2.27 0.12%
NASDAQ 4,733.4970 -16.4820 -0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs