ROANOKE, VA-Monmouth Real Estate InvestmentCorp. has acquired a new, built-to-suit103,402-square-foot industrial building at 1935 Blue Hills Drivehere for $10.2 million.

The property, which sits on 22 acres, is net leased for 10 yearsto FedEx Ground Package System, Inc.

Monmouth Real Estate Investment President and CEOMichael P. Landy, says of the deal, "We are verypleased to announce the acquisition of this new distribution centerfor FedEx Ground. This property is ideally situated near theRoanoke Regional Airport and Interstate 81. Roanoke's economyenjoys an excellent transportation infrastructure and favorablebusiness climate. This increases our portfolio to 74 properties,containing 9.3 million square feet of gross leasable area,strategically situated across 26 states."

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.