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Monmouth Real Estate Investment Boosts its Portfolio

The Freehold-based REIT acquires a Colorado property for $5.6 million.Monmouth Real Estate Investment (NASDAQ: MNRTA) has acquired a 53,202-sq.-ft. industrial building in El Paso, Colorado for about $5.6 million from Jones Colorado Springs, a Missouri-based limited liability company. FedEx Ground Package System, a subsidiary of Federal Express, has a 10-year net lease on the property ending September, 30, 2015.

Monmouth, based in Freehold, is a real-estate investment trust (REIT) focusing on net-leased industrial sites. It holds more than forty U.S. properties in its portfolio. Shares of the REIT gained $0.02 to $8.04 in afternoon trading.