Monmouth Real Estate Announces New Acquisition In The Indianapolis, IN MSA

October 10, 2019 2:22 PM EDT

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HOLMDEL, N.J., Oct. 10, 2019 /PRNewswire/ -- Monmouth Real Estate Investment Corporation (NYSE: MNR) today announced the acquisition of a new 615,747 square foot industrial building located at 1151 S. Graham Road, Greenwood, IN at a purchase price of $81,500,000. The property is net-leased for 15 years to Services, Inc., a Delaware corporation. The building is situated on approximately 78.64 acres.

Michael P. Landy, President and CEO, commented, "In keeping with our commitment of owning a best-in-class, modern industrial property portfolio with vast linkages to the digital economy, we are very pleased to announce this acquisition. The Indianapolis industrial market represents one of the best locations in the U.S. and this acquisition further enhances our large presence here."

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 115 properties, containing a total of approximately 22.9 million rentable square feet, geographically diversified across 30 states. In addition, the Company owns a portfolio of REIT securities.

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SOURCE Monmouth Real Estate Investment Corporation

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