NJ REIT Pays $38 Million For Industrial Asset In Homestead

Jul 03, 2017 No Comments by

Monmouth Real Estate Investment Corporation announced the acquisition of a new 237,756 square foot industrial building located at 27200 SW 127th Avenue in Homestead at a purchase price of $38,347,933.

The property is net-leased for 15 years to FedEx Ground Packaging System, Inc., a Delaware corporation. The building is situated on approximately 50.4 acres.

 

Michael P. Landy, President and CEO, commented, “We are very pleased to announce this high-quality acquisition leased for 15 years to FedEx Ground. This Class A distribution center is situated on 50 acres near the Florida Turnpike. The Florida economy consistently ranks as one of the fastest growing state economies in our nation. The many Florida ports, including the Port of Miami, are poised to become the most substantial beneficiaries of the recently expanded Panama Canal. With this acquisition, Monmouth now owns 13 properties, comprising 1.9 million square feet, strategically situated throughout the Sunshine State.”

 

 

 

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Industrial / Flex, Industry News, Miami-Dade County Industrial / Flex, NA
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