The property is net-leased to FedEx Ground Package System, Inc., a subsidiary of Federal Express Corp., for 10 years. The building was purchased from Jones Denver, LLC., a Missouri limited liability corporation, which constructed the building for the tenant. Collateral Mortgage Capital, LLC, of Mission Hills, KS, acted as mortgage broker in the transaction.
Monmouth, created in 1968, is a publicly owned real estate investment trust specializing in net-leased industrial properties. The company's equity portfolio consists of 34 industrial properties and one shopping center in New Jersey, New York, Connecticut, Maryland, Michigan, Mississippi, Missouri, Massachusetts, Iowa, Illinois, Nebraska, North Carolina, Kansas, Pennsylvania, Florida, Virginia, Ohio, Wisconsin, Arizona and Colorado. In addition, the company owns a portfolio of REIT securities.
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