Monmouth Real Estate (MNTRA) Acquires 40,000 SqFt Industrial Building in Topeka, Kansas
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Monmouth Real Estate Investment Corporation (Nasdaq: MNRTA) has announced the acquisition of a 40,000 square foot industrial building located in Forbes Field Industrial Park at 6700 SW Topeka Boulevard, Shawnee County, Topeka, Kansas, at a purchase price of approximately $4,100,000.
The property is triple-net-leased to Coca-Cola Enterprises, Inc. (NYSE: CCE), through September 30, 2021, and is subject to the terms of a Ground Lease Agreement with Metropolitan Topeka Airport Authority.
Eugene W. Landy, President, commented, "We are proud to welcome Coca-Cola Enterprises into our portfolio of high-quality investment grade industrial tenants. This purchase brings our gross leasable area to 6.5 million square feet. Monmouth Real Estate seeks to acquire additional properties that are net-leased on long-term leases to investment grade tenants in 2009-2010."[SM]
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