Monmouth Real Estate acquires $35.3 million industrial bldg.

Monmouth Real Estate Investment Corp. completed the acquisition of a new 304,608 s/f industrial building located in the Fort Worth Alliance Airport at 2701 Texas Longhorn Way, at a purchase price of $35.3 million. The property is net-leased for 15 years to FedEx Ground Package System, Inc., a Delaware corporation. The building is situated on 44.2 acres. Michael Landy, president and CEO, said, "We are very pleased to announce the acquisition of this brand new class A built-to-suit distribution center leased for 15 years to FedEx Ground. The Fort Worth Alliance Airport is the world's first 100% industrial airport and represents one of the largest inland ports in North America. Our 304,608 s/f fully-automated facility is situated right off of the runway and is immediately adjacent to FedEx Express' 600,000 s/f Southwest Regional Hub."