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DAVENPORT, FLA. — Monmouth Real Estate Investment Corp., a publicly traded equity REIT based in Freehold, N.J., has purchased a 310,922-square-foot, newly built industrial building located at 5000 N. Ridge Trail in Davenport, a suburb of Orlando. Monmouth purchased the property from an undisclosed seller for approximately $37.8 million. Situated on nearly 47 acres, the property is net-leased to FedEx Ground Packaging System Inc. for 15 years. The facility is located near I-4 and two Walmart fulfillment centers totaling more than 2.3 million square feet.