Real Estate Archives
March: One Liberty Properties...Digital Realty Trust...Monmouth Real Estate Investment...Maguire Properties...Public Storage...Capital Title

. . . One Liberty Properties, Inc. (NYSE: OLP) reported that revenues for the year ended December 31, 2004, increased by 34% and net income applicable to common stockholders increased by 47% over the preceding year. The increase in revenues was primarily due to the increase in rental revenues from properties acquired in the past few years. One Liberty Properties is a REIT that invests primarily in improved commercial real estate under long term net lease.

. . . Digital Realty Trust (NYSE: DLR) has an interesting niche—it owns and manages technology-related properties. While we think of the Internet and networks as virtual entities, the fact is infrastructure—servers, backbones, etc.—need to be housed in a real facility. Recently, Kidz Online and the WIDE project, a research consortium, selected Digital Realty facilities for their network infrastructrure.

. . . Industrial strength. Monmouth Real Estate Investment Corporation (Nasdaq: MNRTA)acquired an industrial building at 510 Production Avenue, Madison (Huntsville), Alabama, for a purchase price of approximately $3,600,000. The property is net-leased to a subsidiary of Federal Express Corporation for ten years. This marks the fifth industrial property added to Monmouth's expanding portfolio of high- quality industrial properties net-leased to investment grade tenants in the current fiscal year. The Company's portfolio includes thirty- eight industrial properties and one shopping center across country.

San Diego expansion. Maguire Properties, (NYSE:MPG - News), a southern California real estate investment trust, acquired the San Diego Tech Center, a 38-acre office campus in Sorrento Mesa in San Diego County, California. The purchase price will be $185 million. The acquisition is part of the company's strategy to increase market share the San Diego Mid-City submarket with its high growth potential.

. . . Not enough space. Just about everyone claims not to have enough space "for all their stuff." The national complaint has helped fourth quarter profits rise 22% from last year for Public Storage (NYSE:PSA - News; PCX:PSA), a real estate investment trust that operates a national chain of storage facilities. As of the end of 2004, the company had interests in 1,464 storage facilities in 37 state.

. . . Record revenue.  Capital Title Group (Nasdaq: CTGI), which offers title insurance and related services to the real estate industry, declared a quarterly cash dividend of $.02 per common share. It probably helped that a few days ago, Capital reported a record level of revenue, $290.9 million for 2004, growing 16.2% over the previous year. With the acquisition of Nationwide Appraisal in May, Capital gained access to the national real estate market.