Monmouth Real Estate Investment Expands with Industrial Site in Lancaster, Ohio
04/01/2020
According to company officials, the property on approximately 24.5 acres, acquired at a purchase price of $17,874,148, is net-leased for 10 years to Magna Seating of America, Inc., a division of Magna International.
Michael P. Landy, President and CEO, commented, "We are very pleased to add Magna to our all-star tenant roster. Reflecting the mission-critical nature of this project to both Magna and the Columbus economy, Vice-President Mike Pence attended the groundbreaking ceremony of this development on July 30th.
“We are very fortunate to have in Monmouth a company with a balance sheet and business model that can not only withstand these turbulent periods but can perform well throughout. We look forward to reporting additional high-quality acquisitions during the year," he added.
Monmouth Real Estate Investment Corporation, founded in 1968, specializes 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 116 properties, containing a total of approximately 23 million rentable square feet, geographically diversified across 30 states. In addition, the Company owns a portfolio of REIT securities.
Project Announcements
Canfor Expands Fulton, Alabama, Production Operations
04/22/2024
Tucker Door & Trim Plans Henrico County, Virginia, Operations
04/19/2024
Zekelman Industries Expands Blytheville, Arkansas, Operations
04/19/2024
Fibrebond Corporation Expands Webster Parish, Louisiana, Operations
04/19/2024
Master Steel Expands Hardeeville, South Carolina, Operations
04/19/2024
L3Harris Technologies Expands Orange County, Virginia, Operations
04/18/2024
Most Read
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
38th Annual Corporate Survey: Are Unrealized Predictions of an Economic Slump Leading Small to Mid-Size Companies to Put Off Expansion Plans?
Q1 2024
-
Manufacturing Momentum Is Building
Q1 2024
-
Making Hybrid More Human in 2024
Q1 2024
-
20th Annual Consultants Survey: Clients Prioritize Access to Skilled Labor, Responsive State & Local Government
Q1 2024
-
Public-Private Partnerships Incentivize Industrial Development
Q1 2024