July 29, 2019
Monmouth Real Estate Investment Corporation (MREIC) has acquired a newly-built 350,000-square-foot industrial building at 5440 Haggerty Ln. in Lafayette, IN for $25.5 million. The property is net-leased for 10 years to Toyota Tsusho America, the Toyota Group’s trading affiliate, which developed it.
The building is situated on close to 46 acres. “This mission-critical facility serves the 3.3-million-square-foot Subaru auto assembly plant, which is situated directly across from our property,” said MREIC CEO Michael P. Landy. “With nearly 46 total acres, our property provides ample land for future expansion capacity.”
Headquartered in Freehold, NJ, MREIC has industrial properties across the Midwest, with concentrations around Chicago, Indianapolis, Cincinnati, Cleveland and Detroit.
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