LIVONIA, MI—Monmouth Real EstateCorp., based in Freehold, N.J., has purchased a 172,005-square-foot industrial building here at 38401 Amrhein Road for $14.3 million.
The property is net-leased for 10 years to FedEx Ground Package System Inc. The building is situated on approximately 12 acres.
Monmouth Chief Operating Officer Michael Landy said the class Abuilding was originally constructed for FedEx in 1999. “The building was recently expanded, resulting in a new 10 year lease,” said Landy in a statement. “Due to its proximity to Detroit and Ann Arbor we view this as an integral facility for our tenant."