MONMOUTH REAL ESTATE ANNOUNCES NEW ACQUISITION IN THE KNOXVILLE, TN MSA

Holmdel, UNITED STATES


Holmdel, New Jersey, Aug. 25, 2021 (GLOBE NEWSWIRE) -- Monmouth Real Estate Investment Corporation (NYSE:MNR) today announced the acquisition of a new 259,053 square foot industrial building located at 3774 Snyder Road, Kodak, TN at a purchase price of $34.4 million. The property is net-leased for 15 years to FedEx Ground Packaging System, Inc., a Delaware corporation. The building is situated on approximately 42.6 acres representing a land to building ratio of over 7 times providing for substantial future expansion capacity.

Monmouth Real Estate Investment Corporation, founded in 1968, is one of the oldest public equity REITs in the world. We specialize in single tenant, net-leased industrial properties, subject to long-term leases, primarily to investment-grade tenants. Monmouth Real Estate is a fully integrated and self-managed real estate company, whose property portfolio consists of 122 properties, containing a total of approximately 24.9 million rentable square feet, geographically diversified across 32 states. Our occupancy rate as of this date is 99.7%.

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Contact: Becky Coleridge
732-577-9996