LIVONIA, MI—Monmouth Real Estate Investment Corp., based in Freehold, N.J., has purchased a 172,005-square-foot industrial building here at 38401 Amrhein Road for $14.3 million.
The property is net-leased for 10 years to FedEx Ground Package System Inc. The building is situated on approximately 12 acres.
Monmouth Chief Operating Officer Michael Landy said the class A industrial building was originally constructed for FedEx in 1999. “The building was recently expanded, resulting in a new 10 year lease,” said Landy in a statement. “Due to its proximity to Detroit and Ann Arbor we view this as an integral facility for our tenant."