Monmouth Real Estate Investment Corporation has acquired a new industrial building in Colorado Springs, CO for $28,845,500. Located at 125 North Troy Hill Road, the 225,362 sqf warehouse is net-leased for a 10 year term to FedEx Ground Packaging System. Founded in 1968, Monmouth Real Estate Investment Corporation, is one of the oldest public equity REITs in the U.S. The company specializes in single-tenant, net-leased industrial properties, subject to long-term leases, primarily to investment grade tenants
“This new Class A built-to-suit distribution center is situated directly across from the Colorado Springs Airport and is in close proximity to Interstate 25. Colorado Springs is the home to the United States Airforce Academy and the U.S. Olympic Training Center. This transaction marks our fifth acquisition for fiscal 2016. Our property portfolio now contains 15 million rentable square feet with several additional acquisitions and property expansions currently under construction,” said Michael P. Landy, President and CEO of Monmouth Real Estate Investment Corporation.
