Monmouth Shells Out $21M for Fort Myers FedEx
Monmouth Real Estate Investment Corp., headquartered in Freehold, NJ, acquired a just-delivered FedEx facility at 14001 Jetport Loop in Fort Myers, FL. The investor paid $21 million to Jones Development Co. of Kansas City, MO for the property, which is net-leased to FedEx Ground Packaging Systems Inc. for 10 years.
The 213,672-square-foot, build-to-suit asset is situated on 22.5 acres, across from the Southwest Florida International Airport. Additionally, the land parcel has enough acreage for future expansion, according to Monmouth Real Estate President Michael P. Landy.
Jones Development launched construction on the FedEx facility in late 2015. The plant is partially open, with full operations commencing by May. The facility replaces two older FedEx distribution centers in Fort Myers.
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