The property is net-leased to Anheuser-Busch for a term of 10years. The newly constructed building was built for the tenant bythe seller of the property, Meridian Granite City LLC.

The transaction "reflects our policy of purchasing high-qualitynet-leased industrial properties leased to investment-gradetenants," according to Landy. "It is our company's goal to continuethis program in the future."

The latest acquisition increases MREIC's portfolio to a total of28 industrial properties and one shopping center in New Jersey, theneighboring states of New York, Connecticut and Pennsylvania and 14other states. Besides its real estate holdings, MREIC owns aportfolio of REIT securities.

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