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Monmouth Real Estate (MNR) Buys Industrial Asset in Florida
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Monmouth Real Estate Investment Corporation (MNR - Free Report) disclosed the acquisition of an industrial building in the Orlando, FL MSA for $37.78 million. This new class-A facility is net-leased for 15 years to FedEx Ground Packaging System, Inc.
Spanning 310,922 square foot of space, this built-to-suit distribution center is situated on around 47 acres at 5000 North Ridge Trail, Davenport. Its acquisition by Monmouth Real Estate seems a strategic fit for its preferable location right off of Interstate 4. It is adjacent to the Walmart’s recently built two large e-commerce fulfilment centers, spanning a total 2.35 million square feet of space.
Amid an e-commerce boom and heightened urbanization, retailers are shifting their strategy toward services like same-day delivery and other such options, propelling demand for distribution facilities. With a larger customer base, companies are opting for supply-chain consolidation, resulting in greater demand for logistics infrastructure and efficient distribution networks, thereby creating scope for industrial REITs.
In fact, per a CBRE Group Inc. study, the industrial market is on its lengthiest stretch of recovery, with availability rates declining for the 25th straight quarter to 8.8% in Q2, the lowest since mid-2001.
This is expected to provide enough scope to Monmouth Real Estate to capitalize that specializes in single-tenant, net-leased industrial properties. Its portfolio consists of 98 properties situated in 30 states, encompassing a total of about 15.7 million rentable square feet.
Monmouth Real Estate currently has a Zacks Rank #3 (Hold). Investors interested in the REIT industry may consider stocks like CoreSite Realty Corporation (COR - Free Report) and Gramercy Property Trust Inc. . Both the stocks holds a Zacks Rank #2 (Buy).
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Monmouth Real Estate (MNR) Buys Industrial Asset in Florida
Monmouth Real Estate Investment Corporation (MNR - Free Report) disclosed the acquisition of an industrial building in the Orlando, FL MSA for $37.78 million. This new class-A facility is net-leased for 15 years to FedEx Ground Packaging System, Inc.
Spanning 310,922 square foot of space, this built-to-suit distribution center is situated on around 47 acres at 5000 North Ridge Trail, Davenport. Its acquisition by Monmouth Real Estate seems a strategic fit for its preferable location right off of Interstate 4. It is adjacent to the Walmart’s recently built two large e-commerce fulfilment centers, spanning a total 2.35 million square feet of space.
Amid an e-commerce boom and heightened urbanization, retailers are shifting their strategy toward services like same-day delivery and other such options, propelling demand for distribution facilities. With a larger customer base, companies are opting for supply-chain consolidation, resulting in greater demand for logistics infrastructure and efficient distribution networks, thereby creating scope for industrial REITs.
In fact, per a CBRE Group Inc. study, the industrial market is on its lengthiest stretch of recovery, with availability rates declining for the 25th straight quarter to 8.8% in Q2, the lowest since mid-2001.
This is expected to provide enough scope to Monmouth Real Estate to capitalize that specializes in single-tenant, net-leased industrial properties. Its portfolio consists of 98 properties situated in 30 states, encompassing a total of about 15.7 million rentable square feet.
Monmouth Real Estate currently has a Zacks Rank #3 (Hold). Investors interested in the REIT industry may consider stocks like CoreSite Realty Corporation (COR - Free Report) and Gramercy Property Trust Inc. . Both the stocks holds a Zacks Rank #2 (Buy).
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