Monmouth Real Estate Investment Corporation has acquired an industrial building in Fort Myers, FL for $21 million. Located on a 22.5 acre site at 14001 Jetport Loop, the 213,672 square foot industrial building traded for just over $98 per sqf. The property is net-leased for 10 years to FedEx Ground Packaging System, Inc. Founded in 1968, Monmouth Real Estate specializes in single-tenant, net-leased industrial properties, subject to long-term leases, primarily to investment grade tenants.
Monmouth president Michael P. Landy said the property includes a land parcel large enough to allow for future expansion. “We continue to grow our portfolio one high-quality asset at a time and with this acquisition we now own one hundred properties strategically situated across 30 states. Our modern industrial property portfolio is currently 100% occupied because our buildings are integral to our tenants’ operations.”
