Monmouth Acquires $38M Industrial Facility
Sitting on roughly 47 acres, the building is a Class A built-to-suit distribution center.
Portfolio Map, Monmouth Real Estate Investment Corp.
Davenport, Fla.—Monmouth Real Estate Investment Corp., one of the oldest public equity REITs specialized in single-tenant, net-leased industrial properties the U.S., has purchased a 310,922-square-foot industrial facility for almost $38 million.
Situated at 5000 North Ridge Trail, the approximately 47-acre asset is net-leased to FedEx Ground Packaging System Inc. for 15 years.
“We are very pleased to announce the acquisition of this brand new Class A built-to-suit distribution center (…). This property is ideally situated right off of Interstate 4. Immediately adjacent to this new FedEx facility, Walmart has recently constructed two large e-commerce fulfillment centers that total 2.35 million square feet,” said Michael Landy, president & CEO of Monmouth.
Portfolio map courtesy of Monmouth Real Estate Investment Corp.
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