Monmouth Real Estate Investment Corp Acquires 450,000 Square Foot Industrial Building in Memphis, Tennessee
Ft. Lauderdale 10/24/2009 06:45 PM GMT (TransWorldNews)
Monmouth Real Estate Investment Corporation (NASDAQ: MNRTA) has acquired a 450,000 sq/ft industrial building located at 5025 Tuggle Road, Shelby County, Memphis, Tennessee. The total purchase price for the property was around $14.6 million. The property is triple net leased to FedEx Supply Chain Services, Inc., a subsidiary of FedEx Ground Package System, Inc. through May 31, 2019.
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About Monmouth Real Estate Investment Corporation
Monmouth Real Estate Investment Corporation, which was organized in 1968, is a publicly-owned real estate investment trust specializing in net-leased industrial properties. The Company's portfolio now consists of fifty-nine industrial properties and one shopping center located in twenty-five states. In addition, the Company owns a portfolio of REIT securities.
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