NEW JERSEY—Freehold-based Monmouth Real Estate Investment Corporation has purchased a 119,912-sq.-ft. industrial building located at 2710 South West 18th Street in Oklahoma City, Okla. for $9.453 million. The property is net-leased for 10 years to FedEx Ground Package System Inc.

Situated on approximately 15 acres with expansion capabilities, 2710 South West 18th Street is new construction by Jones Development Company.

"Oklahoma City represents an excellent new market for Monmouth,” said Michael P. Landy, COO of Monmouth Real Estate Investment Corporation. “Their economy is one of the strongest in the nation with low unemployment and substantial new investments being made in the region.”

The industrial building was built-to-suit for FedEx Ground. It is fully automated and expandable by 34,000 sq. ft. The property is located between the region’s airport and downtown area.