New Jersey-based Monmouth Real Estate Investment Corp. (NYSE: MNR) is acquiring a property in Greenwood. The company says it is purchasing the nearly 616,000-square-foot industrial building for $81.5 million and will lease the space in a 15-year agreement to Amazon.com Services Inc.
The company’s other Indianapolis holdings include a nearly 700,000 square-foot space leased to ULTA Cosmetics and a 300,000 square-foot building near Indianapolis International Airport leased to FedEx Ground- Indianapolis.
"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," said Michael Landy, president and chief executive officer of Monmouth.
Monmouth specializes in single tenant, net-leased industrial properties, subject to long-term leases, to investment-grade tenants. The company has a portfolio of 115 properties in 30 states.