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Monmouth REIT Picks Up Indy-Area Amazon Warehouse
Monmouth Real Estate Investment Corporation acquired a newly-developed 615,747-square-foot Greenwood, IN industrial building, net-leased to Amazon, for $81.5 million.
The Holmdel, NJ-based REIT didn’t identify the seller of 1151 S. Graham Rd. in Greenwood. Published reports said it was Indianapolis-based Scannell Properties, which developed the facility and leased it to Amazon last year.
Michael P. Landy, Monmouth’s president and CEO, commented, “In keeping with our commitment of owning a best-in-class, modern industrial property portfolio with vast linkages to the digital economy, we are very pleased to announce this acquisition. The Indianapolis industrial market represents one of the best locations in the U.S., and this acquisition further enhances our large presence here.”
Among Monmouth’s Indianapolis-area holdings is a 671,354-square-foot facility net-leased to Ulta Cosmetics. Elsewhere in Indiana, the company recently acquired a 350,000-square-foot industrial property net-leased to Toyota Tsusho America, which serves the adjacent 3.3-million-square-foot Subaru assembly plant.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
