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.
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.