Monmouth Real Estate Announces New Acquisition In Daytona Beach, FL

FREEHOLD, N.J., April 6, 2018

Michael P. Landy, President and CEO, commented, "We are pleased to announce this new acquisition. This built-to-suit property is ideally situated near the Daytona Beach International Airport and Interstate 4. Founded in 1839, and headquartered in Germany, B. Braun is a privately held medical device company that manufactures, markets, and sells various healthcare products worldwide. They have a new manufacturing facility in very close proximity to our distribution facility. The Florida economy consistently ranks as one of our nation's strongest. With approximately 10% of our property portfolio located here in the Sunshine State, we remain optimistic about our long-term growth potential. This marks our fourth acquisition in fiscal 2018 comprising 1.7 million square feet totaling $140 million."

Monmouth Real Estate Investment Corporation, founded in 1968, is one of the oldest public equity REITs in the U.S.  The Company specializes in single tenant, net-leased industrial properties, subject to long-term leases, primarily to investment-grade tenants.  Monmouth Real Estate Investment Corporation is a fully integrated and self-managed real estate company, whose property portfolio consists of 110 properties containing a total of approximately 20.3 million rentable square feet, geographically diversified across 30 states.  In addition, the Company owns a portfolio of REIT securities.

View original content with multimedia:http://www.prnewswire.com/news-releases/monmouth-real-estate-announces-new-acquisition-in-daytona-beach-fl-300625779.html

SOURCE Monmouth Real Estate Investment Corporation