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April 11, 2016 Comments Off on NJ-Based Monmouth Enters Seattle with $30M Buy Views: 249 California News, National News, New Jersey, Northeast, Washington, West

NJ-Based Monmouth Enters Seattle with $30M Buy

Monmouth Real Estate Investment Corp. acquired a new, 210,445-square-foot industrial property for $30.6 million from developer JDC. The buy represents the Freehold, NJ-based REIT’s first foray into the Seattle area. The property is situated on 42 acres at 2000 S. Walnut in Burlington, WA, and is net-leased to FedEx Ground Packaging System Inc. for 15 years.

“This acquisition represents a new territory for Monmouth, and it expands our geographic footprint from coast to coast,” said Michael P. Landy, the REIT’s president and CEO. “This large 42-acre site is situated right off of Interstate 5, and is in close proximity to one of the largest airplane assembly plants in the world, owned by Boeing in Everett.”

Read More at PR Newswire

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