Monmouth Real Estate Investment acquires 110,638 s/f for $8.3m

Monmouth Real Estate Investment Corp. has acquired a 110,638 s/f industrial building located at 950 Bennett Rd. for $8.3 million from FE Orlando Investment LP, a Delaware limited partnership. The property is leased to Federal Express Corp. through November 30, 2017. This property is the replacement property in a 1031 exchange transaction in which an industrial property in Franklin, Mass., sold by the company in June 2008, serves as the relinquished property.