Monmouth buys 114,923-SF industrial property in SpringMonmouth buys 114,923-SF industrial property in Springhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=56762013-11-21T14:47:00Z2013-11-20T00:00:00Z

SPRING - Monmouth Real Estate Investment Corp. has acquired a 114,923 sf industrial building, located at 21200 Spring Plaza Dr., for $15,281,318. The building is situated on approximately 17 acres and is expandable by approximately 80,000 additional sf.

The property is net-leased for ten years to FedEx Ground Package System Inc.

“The property is less than one mile away from Exxon Mobil's new world headquarters. Houston is one of our nation's largest industrial markets and with the expansion of the Panama Canal scheduled to come on-line in 2015, we anticipate strong growth in shipments for the foreseeable future," said Michael P. Landy, President and CEO.

Monmouth Real Estate Investment Corporation was founded in 1968 and is one of the oldest public equity REITs in the United States.

Read more at Monmouth Real Estate Investment Corporation.

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