Holmdel, NJ, Aug 25, 2021 (GLOBE NEWSWIRE) – Monmouth Real Estate Investment Corporation (NYSE: MNR) has announced the acquisition of a new 259,053 square foot industrial building located at 3774 Snyder Road, Kodak, TN. at the time of buying. price 34.4 million dollars. Property leased for 15 years to FedEx Ground Packaging System, Inc., a Delaware corporation. The building is located on approximately 42.6 acres, which equates to a land-to-building ratio of more than 7 times, providing significant future expansion opportunities.
Founded in 1968, Monmouth Real Estate Investment Corporation is one of the oldest public REIT funds in the world. We specialize in leasing industrial facilities with an individual tenant on a long-term lease basis, primarily to investment grade tenants. Monmouth Real Estate is a fully integrated and self-managed real estate company with a portfolio of 122 rental properties totaling approximately 24.9 million square feet and geographically diversified across 32 states. Our occupancy rate as of this date is 99.7%.
Contact: Becky Coleridge