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News Breaks | | | | December 20, 2012 | | 15:19 EDT |  | MNR | Monmouth Real Estate announces $28M industrial property acquisition
Monmouth Real Estate Investment Corporation announced the acquisition of a 615,305 square foot industrial building located at 12385 Crossroads Drive, Olive Branch, DeSota County, Mississippi, at a purchase price of $28M. The property is net-leased for 10 years to Milwaukee Electric Tool Corporation and is guaranteed by their parent company, Techtronic Industries Company Limited. The building is situated on approximately 39 acres. Monmouth financed this acquisition with $17.5M in mortgage debt with an interest rate of 3.76%. This building is designed for LEED certification and is expandable by an additional 215,000 square feet. | |
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