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Monmouth Real Estate Investment Corporation acquires industrial building.

Freehold: Monmouth Real Estate Investment Corporation acquired a brand new 831,764 square foot industrial building located at 590 Northport Parkway, Savannah, GA at a purchase price of $57,483,636.

The property is net-leased for 10 years to Shaw Industries, Inc., a Georgia corporation. The building is situated on approximately 62.4 acres.

President and CEO Michael P. Landy said, "We are extremely pleased to announce this new acquisition. Shaw Industries is one of the largest flooring manufacturers and suppliers in the world. They are a wholly-owned subsidiary of Berkshire Hathaway. The Port of Savannah is the fourth largest port in the U.S. and is the fastest growing port in North America. The Port of Savannah has already benefited from increased market share as a direct result of the recently expanded Panama Canal."

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Publication:Daily the Pak Banker (Lahore, Pakistan)
Date:Feb 2, 2018
Words:135
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