Monmouth Real Estate Investment Corp. announced Aug. 14 it has acquired the industrial building that currently houses FedEx Ground Package System Inc. at Fort Worth Alliance Airport for $35.3 million.
The property, at 2701 Texas Longhorn Way, is net-leased to FedEx Ground for 15 years. The building is 304,608 square feet and sits on approximately 44.2 acres.
“We are very pleased to announce the acquisition of this brand new Class A built-to-suit distribution center leased for 15 years to FedEx Ground,” said Michael P. Landy, president and CEO of Monmouth. “The Fort Worth Alliance Airport is the world’s first 100 percent industrial airport and represents one of the largest inland ports in North America. Our 304,608 square foot fully-automated facility is situated right off of the runway and is immediately adjacent to FedEx Express’ 600,000 square foot Southwest Regional Hub.”
Monmouth, based in Freehold, N.J., trades on the New York Stock Exchange under the MNR symbol.