June 10, 2016
Monmouth Real Estate Investment Corp., based in Freehold, NJ, spent $28.8 million to acquire a new, 225-362-square-foot FedEx distribution center at 125 N. Troy Rd. in Colorado Springs. The building, situated on approximately 27.4 acres, is net leased to the distribution company for 10 years.
The New Jersey investor acquired the asset from developer SunCap Property Group, based in Charlotte, NC. SunCap has built about a dozen FedEx distribution centers in eight states. The Colorado Springs center serves eastern Colorado.