Monmouth Buys FedEx's Fort Myers Build-To-Suit
First Monmouth Real Estate builds the big-box FedEx distribution facility in Fort Myers, then it buys it.
New Jersey-based Monmouth Real Estate Investment Corp purchased 14001 Jetport Loop, a 214k SF distribution facility on more than 20 acres that was freshly delivered as a build-to-suit project for FedEx Ground Packaging System.
The facility, with a price tag of $21M, is leased to FedEx for 10 years, according to Monmouth.
While it's not entirely clear in Monmouth's announcement, the facility appears to be the same one that the firm built for FedEx near the Fort Myers International Airport, as we previously reported here, which required Monmouth to do a short-term renewal for FedEx at its older, small package facility nearby (above).
"This brand new, built-to-suit property is located directly across from the Southwest Florida International Airport," Monmouth CEO Michael Landy stated in a release. "This valuable land parcel contains ample acreage to provide for future expansion as needed."