MONMOUTH REAL ESTATE ANNOUNCES NEW ACQUISITION IN OKLAHOMA CITY, OK

Rhea-AI Summary

Monmouth Real Estate Investment Corporation (NYSE:MNR) announced the acquisition of a 120,780 square foot industrial building in Oklahoma City for $15.2 million, net-leased to Amazon.com Services for a 10-year term. The facility, located on approximately 22 acres near The Will Rogers International Airport, is expected to enhance Monmouth’s portfolio, which boasts 99.4% occupancy. The company emphasizes its strong tie to the digital economy amid a rising trend in e-commerce sales, which increased by 44.5% year-over-year.

Positive

• Acquisitions enhance portfolio stability and growth potential.
• New property is net-leased to Amazon, a strong, investment-grade tenant.
• 99.4% occupancy rate indicates a robust rental strategy.
• Strategic location near The Will Rogers International Airport supports logistics.

Negative

• None.

Holmdel, New Jersey, Sept. 15, 2020 (GLOBE NEWSWIRE) -- September 15, 2020 Monmouth Real Estate Investment Corporation (NYSE:MNR) today announced the acquisition of a new 120,780 square foot industrial building located at 6101 SW 44^th Street, Oklahoma City, OK at a purchase price of $15.2 million. The property is net-leased for 10 years to Amazon.com Services, LLC, a Delaware limited liability company. The building is situated on approximately 22 acres.

Michael P. Landy, President and CEO, commented, “This 22-acre site has ample expansion capacity and is ideally located immediately to the north of The Will Rogers International Airport. Ecommerce sales in the US grew by almost a third in Q2 and are up 44.5% year over year. With 99.4% occupancy and a robust acquisition pipeline, Monmouth’s portfolio is strongly linked to the digital economy. We are very pleased to announce this new acquisition as it will enhance our favorable position.”

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 119 properties, containing a total of approximately 23.4 million rentable square feet, geographically diversified across 31 states.

Contact: Becky Coleridge
732-577-9996
EMAIL: mreic@mreic.com
www.mreic.reit

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FAQ

What is the recent acquisition by Monmouth Real Estate Investment Corporation?

Monmouth acquired a 120,780 square foot industrial building in Oklahoma City for $15.2 million, net-leased to Amazon.com Services.

How does the acquisition impact Monmouth's portfolio?

The acquisition is expected to enhance Monmouth's portfolio stability and leverage the growing digital economy.

What is the significance of the location of the new property?

The property is strategically located near The Will Rogers International Airport, facilitating logistics and e-commerce operations.

How much of Monmouth's portfolio is currently occupied?

Monmouth's portfolio boasts a high occupancy rate of 99.4%.

What are the expected benefits of this acquisition for investors?

The acquisition is expected to provide reliable income from a long-term lease with a strong tenant, thus potentially increasing shareholder value.