Monmouth Acquires Daytona Beach Industrial Property
- Apr 10, 2018
Monmouth Real Estate Investment Corp. has acquired a newly constructed industrial building in Daytona Beach, Fla. for $30.8 million.
Located at 1341 N. Clyde Morris Blvd., the property comprises 399,440 square feet. Situated on 27.5 acres, the facility is net-leased for 10 years to B. Braun Medical Inc., a privately held medical device company that manufactures, markets and sells various healthcare products. The built-to-suit asset is within close proximity to Interstate 4 and Daytona Beach International Airport, according to Michael Landy, president & CEO of Monmouth.
“The Florida economy consistently ranks as one of our nation’s strongest,” Landy said in a prepared statement. “With approximately 10 percent of our property portfolio located here in the Sunshine State, we remain optimistic about our long-term growth potential. This marks our fourth acquisition in fiscal 2018 comprising 1.7 million square feet totaling $140 million.”
Image courtesy of Monmouth Real Estate Investment Corp.