Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - MONMOUTH REAL ESTATE INVESTMENT CORP | mreic8kwheeling.htm |
FOR IMMEDIATE RELEASE | December 15, 2010 |
Contact: Susan Jordan | |
732-577-9996 | |
MONMOUTH REAL ESTATE INVESTMENT CORPORATION
ANNOUNCES BUY OUT OF MINORITY INTEREST
FREEHOLD, NJ, December 15, 2010........Monmouth Real Estate Investment Corporation (NYSE:MNR) (“the Company”) announced the acquisition of the remaining 37% minority interest in Wheeling Partners, L.L.C., (“Wheeling Partners”) an Illinois limited liability company, for approximately $4,100,000. Wheeling Partners owns a 123,000 square foot industrial building in Wheeling, Illinois, leased to FedEx Ground Package Systems, Inc., through May, 2017. Prior to this acquisition, the Company owned 63% of Wheeling Partners.
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 portfolio consists of sixty-four industrial properties and one shopping center located in twenty-five states. In addition, the Company owns a portfolio of REIT securities.
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