Monmouth Real Estate Acquires New 400,000 SF Industrial Building In Daytona Beach

Monmouth Real Estate Investment Corporation (NYSE: MNR) announced the acquisition of a brand new 399,440-square-foot industrial building located at 1341 N. Clyde Morris Boulevard in Daytona Beach at a purchase price of $30,750,540. The property is net-leased for 10 years to B. Braun Medical Inc., a Pennsylvania corporation. The building is situated on approximately 27.5 acres.  

Michael P. Landy, President and CEO, commented, “We are pleased to announce this new acquisition. This built-to-suit property is ideally situated near the Daytona Beach International Airport and Interstate 4. Founded in 1839, and headquartered in Germany, B. Braun is a privately held medical device company that manufactures, markets, and sells various healthcare products worldwide. They have a new manufacturing facility in very close proximity to our distribution facility. The Floridaeconomy consistently ranks as one of our nation’s strongest. With approximately 10% of our property portfolio located here in the Sunshine State, we remain optimistic about our long-term growth potential. This marks our fourth acquisition in fiscal 2018 comprising 1.7 million square feet totaling $140 million.”

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