ROANOKE, VA-Monmouth Real Estate Investment Corp. has acquired a new, built-to-suit 103,402-square-foot industrial building at 1935 Blue Hills Drive here for $10.2 million.
The property, which sits on 22 acres, is net leased for 10 years to FedEx Ground Package System, Inc.
Monmouth Real Estate Investment President and CEO Michael P. Landy, says of the deal, "We are very pleased to announce the acquisition of this new distribution center for FedEx Ground. This property is ideally situated near the Roanoke Regional Airport and Interstate 81. Roanoke's economy enjoys an excellent transportation infrastructure and favorable business 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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