fedex

August 23, 2016 Comments Off on Monmouth Delivers $38M for FL FedEx Building Views: 304 Florida, National News, Southeast

Monmouth Delivers $38M for FL FedEx Building

Monmouth Real Estate Investment Corp. struck a deal with an undisclosed seller for a new, 310,922-square-foot industrial building in Davenport, FL. The New Jersey buyer paid $37.8 million for the asset at 5000 North Ridge Trail, which is net-leased to FedEx Ground Packaging Systems Inc. for 15 years.

REIT president and CEO Michael P. Landy indicated that one appeal of the build-to-suit distribution center was its location off Interstate 4.  Additionally, “immediately adjacent to this new FedEx facility, Walmart has recently constructed two large e-commerce fulfillment centers that total 2.35 million square feet,” he said.

Kansas City, MO-based Jones Development Co. built the FedEx building, which is situated on 47 acres. Construction was launched last year, at a cost of $28.5 million.

Read More at PR Newswire

Connect with Monmouth Real Estate Investment

For comments, questions or concerns, please contact Amy Sorter

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags: , , ,

Comments are closed.