Monmouth Real Estate Investment Corporation Announces $5.8M Property Acquisition
By Benzinga Staff
November 01, 2010 2:39 PM
November 01, 2010 2:39 PM
Monmouth Real Estate Investment Corporation (NYSE: MNR) has announced the acquisition of a 66,387 square foot industrial building located in the Rockford Industrial Park at 4472 Technology Drive, Winnebago County, Rockford, Illinois, at a purchase price of approximately $5,850,000. The property is net-leased through December 31, 2023 to Sherwin-Williams (NYSE: SHW), and guaranteed by the Sherwin-Williams Company, an Ohio corporation.
The original building was constructed in 1998, with an addition nearly doubling the square footage built in 2008. Darren Sides, Porthaven Partners LLC, acted as broker to Monmouth in this transaction.
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