REIT snags Florida industry building

Monmouth Real Estate Investment Corp. picks up 89,000 square feet

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Monmouth Real Estate Investment Corp., a publicly owned real estate investment trust, has acquired an industrial building in Brevard County, Cocoa, Fla., in a deal valued at $10.45 million. The 89,101-square-foot building is located at 3155 Grissom Parkway. The property is net-leased to FedEx Ground Package System through July 31, 2017. The seller, Regional Development Group, constructed the building in 2006. Regional has developed and sold several other properties to Monmouth over the past several years, the most recent being a Federal Express facility in Punta Gorda, Fla., purchased in September 2007....