Monmouth Acquires East Dallas Industrial Facility
Monmouth Real Estate Investment Corp. purchased a 352,000-square-foot industrial building in Mesquite, Texas. The property changed hands for $50.6 million.
By Razvan Cimpean
5005 Samuell Blvd. in Mesquite, Texas
Monmouth Real Estate Investment Corp. has acquired a 352,000-square-foot industrial building in Mesquite, Texas, for $50.6 million. The facility is net-leased for 15 years to FedEx Ground Packaging System.
Brand new facility
The brand new, Class A industrial building is located at 5005 Samuell Blvd., eight miles away from downtown Dallas, and offers convenient access to and from U.S. Highway 80 and E. R.L. Thornton Freeway. The facility sits on a nearly 65-acre lot, which previously housed Big Town Mall, for years the largest mall in Texas.
“The construction of this brand-new FedEx Ground distribution center here is indicative of the changing of the guard taking place in the world of consumer spending,” Michel Landy, president & CEO of Monmouth, said in a prepared statement.
At the beginning of the year, Monmouth expanded its industrial portfolio with the acquisition of a Florida FedEx-leased warehouse.
Image courtesy of Monmouth Real Estate Investment Corp.
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