Skip navigation

Monmouth Real Estate Announces New Acquisition in Michigan for $14.35M

NEW JERSEY—Monmouth Real Estate Investment Corporation, based in Freehold, N.J., has acquired 38401 Amrhein Road in Livonia, Mich. for $14.35 million.

Currently net-leased for 10 years to FedEx Ground Package System Inc., a Delaware corporation, 38401 Amrhein Road totals 172,005 sq. ft. and is situated on approximately 12 acres.

"This Class A industrial building was originally constructed for FedEx in 1999,” said Michael P. Landy, COO of Monmouth Real Estate. “The building was recently expanded resulting in a new 10 year lease. Due to its proximity to Detroit and Ann Arbor we view this as an integral facility for our tenant."

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish