Monmouth Real Estate (MNRTA) to Purchase Remaining 35% Minority Interest in Jones EPI
Monmouth Real Estate Investment Corporation (Nasdaq: MNRTA) announced the acquisition of the remaining 35% minority interest in Jones EPI, LLC, a Delaware limited liability company, for approximately $949,000. Jones EPI owns a 92,000 square foot industrial building in El Paso, Texas, leased to FedEx Ground Package Systems, Inc., through 2015. The minority interest was purchased from Jones Willmar, LLC, a Missouri limited liability company, which constructed the building for the tenant in 2005. Prior to this acquisition, the Company owned 65% of Jones EPI.
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