Monmouth Real Estate acquires industrial building in Texas airport

Emily Bader//August 17, 2015//

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Monmouth Real Estate Investment Corporation announced Monday that it has acquired an industrial building in Fort Worth, Texas, for approximately $35.3 million.The Freehold-based investment trust said in a news release that the new 304,608-square-foot building in the Fort Worth Alliance Airport is located at 2701 Texas Longhorn Way.

The property is net-leased for 15 years to FedEx Ground Package System Inc., a Delaware-based corporation.

“We are very pleased to announce the acquisition of this brand new Class A built-to-suit distribution center leased for 15 years to FedEx Ground. The Fort Worth Alliance Airport is the world’s first 100 percent industrial airport and represents one of the largest inland ports in North America. Our 304,608 square foot fully-automated facility is situated right off of the runway and is immediately adjacent to FedEx Express’ 600,000 square foot Southwest Regional Hub,” Michael P. Landy, CEO and president, said in a prepared statement.

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