MONMOUTH REAL ESTATE ANNOUNCES NEW ACQUISITION IN THE BIRMINGHAM, AL MSA
28 Janvier 2022 - 10:15PM
Monmouth Real Estate Investment Corporation (NYSE:MNR) today
announced the acquisition of a new 530,000 square foot Class A
distribution center located at 11146 Will Walker Road, Vance, AL at
a purchase price of $51.7 million. The property is net-leased for
10 years to Mercedes Benz US International, Inc., an Alabama
corporation. The building is situated on approximately 53.5 acres
representing a land to building ratio of over four times providing
for future expansion capacity. The fully-airconditioned building
will serve Mercedes’ new electric vehicle assembly line.
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 124 properties, containing a total of
approximately 25.7 million rentable square feet, geographically
diversified across 32 states. Our occupancy rate as of this date is
99.7%.
Contact: Becky
Coleridge732-577-9996
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