This Day On The Street
Continue to site
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 Two New Acquisitions

FREEHOLD, N.J., Sept. 12, 2013 /PRNewswire/ -- Monmouth Real Estate Investment Corporation (NYSE:MNR) today announced the acquisition of a 99,102 square foot industrial building located at 3383 Spirit Way, in Green Bay, WI  at a purchase price of $6,570,000.  The building is situated on approximately 12.2 acres.  The Company also announced the acquisition of a 60,398 square foot industrial building located at Schumann Drive NW, in Rochester, MN at a purchase price of $5,265,000.  The building is situated on approximately 7.5 acres.  Both properties are net-leased for 10 years to FedEx Ground Package System, Inc., a Delaware corporation.

Michael P. Landy, President and CEO, commented, "We are very pleased to announce the acquisition of these two new distribution centers for FedEx Ground.  The Green Bay property is located in close proximity to the Green Bay International Airport and enjoys immediate access to the Interstate highway system.  The property located in the Rochester market is in close proximity to the world renowned Mayo Clinic.  It is imperative that deliveries to and from the Clinic are successfully made within a short timeframe.  Our new FedEx building here will help to facilitate this."

Monmouth Real Estate Investment Corporation, founded in 1968 and one of the oldest public equity REITs in the U.S., specializes in net-leased industrial properties subject to long-term leases primarily to investment grade tenants.  The Company is a fully integrated and self-managed real estate company, whose property portfolio consists of seventy-five industrial properties and one shopping center located in twenty-six states, containing a total of approximately 9.5 million rentable square feet.  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 This material may not be published, broadcast, rewritten or redistributed.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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,912.29 +122.10 0.73%
S&P 500 1,995.83 +15.91 0.80%
NASDAQ 4,791.1520 +42.7910 0.90%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs