Aug
04

Concord FedEx Facility Sold

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sold_stamp redMonmouth Real Estate Investment Corporation (NYSE: MNR) today announced the acquisition of a brand new 354,482 square foot industrial building located at 4350 Fortune Avenue, Concord, NC at a purchase price of $40,598,446. The property is net-leased for 15 years to FedEx Ground Packaging System, Inc., a Delaware corporation. The building is situated on approximately 56.6 acres.

Michael P. Landy, President and CEO, commented, “We are very pleased to announce this new addition to our high-quality portfolio. This state-of-the-art facility is immediately adjacent to our recently constructed FedEx SmartPost facility. As the result of this new acquisition, we now own a two property campus in the Charlotte market containing 685,200 total square feet. This 116 total acre campus is situated alongside Interstate 85.”

Categories : Charlotte

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