Monmouth Real Estate Investment Corporation Announces Buy Out Of Minority Interest
March 02 2010 - 2:50PM
PR Newswire (US)
FREEHOLD, N.J., March 2 /PRNewswire-FirstCall/ -- Monmouth Real
Estate Investment Corporation announced the acquisition of the
remaining 35% minority interest in Jones EPI, LLC (Jones EPI), a
Delaware limited liability company, for approximately $949,000.
Jones EPI owns a 92,000 square foot industrial building in El Paso,
Texas, leased to FedEx Ground Package Systems, Inc., through 2015.
The minority interest was purchased from Jones Willmar, LLC, a
Missouri limited liability company, which constructed the building
for the tenant in 2005. Prior to this acquisition, the Company
owned 65% of Jones EPI. 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-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, +1-732-577-9996
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