Monmouth Acquires FedEx-Leased Industrial Building in Charleston for $47.2M
CHARLESTON, S.C. — Monmouth Real Estate Investment Corp. has acquired a 265,318-square-foot industrial building located at 6850 Weber Blvd. N. in Charleston for $47.2 million. The name of the seller was not disclosed, but the Post & Courier reports an affiliate of SunCap Property Group completed construction on the warehouse building earlier this year. The property is net-leased for 15 years to FedEx Ground Packaging System Inc. The building is located roughly 18 miles northwest of the Port of Charleston, and less than 10 miles from Charleston International Airport. The transaction marks Monmouth’s fourth acquisition in the Charleston market.