NEW JERSEY—Monmouth Real EstateCorporation, 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 Abuilding 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."