Monmouth Real Estate Investment Corporation Announces New Acquisition
27 Janeiro 2010 - 6:38PM
PR Newswire (US)
FREEHOLD, N.J., Jan. 27 /PRNewswire-FirstCall/ -- Monmouth Real
Estate Investment Corporation (NASDAQ:MNRTA) has announced the
acquisition of a 184,317 square foot industrial building located in
the Valwood Industrial Park at 2000 Luna Road, Dallas County,
Carrollton, Texas, at a purchase price of approximately
$17,900,000. The property is net-leased through January 31, 2019 to
Carrier Enterprise LLC, a Delaware limited liability company, which
assumed the original lease from Carrier Corporation, a Delaware
corporation, which guarantees the lease agreement. The building was
constructed in 2009. Darren Sides, Porthaven Partners LLC, acted as
broker to Monmouth in this transaction. Eugene W. Landy, President,
commented, "Carrier, a division of United Technologies, is one of
the world's largest providers of air-conditioning, heating, and
refrigeration systems. This property is very well located near the
Dallas/Fort Worth International Airport. Because Monmouth Real
Estate invests in high quality, net-leased industrial properties on
long-term leases to investment grade tenants, we have grown our
portfolio at a measured pace. Thus far, fiscal 2010 has provided us
with a very good acquisition environment. This acquisition
increases our gross leasable area to approximately 6.9 million
square feet." 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 equity portfolio now consists of sixty-one industrial
properties and one shopping center located in twenty-five states.
In addition, the Company owns a portfolio of REIT securities.
DATASOURCE: Monmouth Real Estate Investment Corporation CONTACT:
Susan Jordan of Monmouth Real Estate Investment Corporation,
+1-732-577-4056
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