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Monmouth RE Spends $32M on KS FedEx DC

Monmouth Real Estate Investment Corp. paid $31.7 million to Jones Development. In return, the New Jersey buyer received a new, 313,763-square-foot industrial/distribution center at 22525 W. 167th St. in Olathe, KS. The property is leased to FedEx Ground Packaging System Inc.

“Due to its central geographic location and intermodal infrastructure, the Kansas City MSA is highly desired by logistics companies,” said Michael P. Landy, Monmouth’s president and CEO. “Kansas City is the largest freight rail hub in the nation, and this market is expected to continue to experience strong demand for many years to come.”

The REIT has been on a buying spree this summer, having paid $37.8 million for a FedEx building in Florida, as well as shelling out $29 million for another FedEx distribution center in Colorado Springs.

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About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

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