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Monmouth adds Wash. property to industrial portfolio

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Monmouth adds Wash. property to industrial portfolio

Monmouth Real EstateInvestment Corp. has picked up an industrial facility in Burlington,Wash., for roughly $30.7 million.

The 210,445-square-foot property sits on about 42.4 acres at2000 South Walnut St. It is net leased to FedEx Ground Packaging System Inc. fora 15-year term.

"This acquisition represents a new territory for Monmouthand it expands our geographic footprint from coast to coast," President andCEO Michael Landy said in an April 8 release.

The industrial REIT earlier in March said it a $20.0 million industrial propertynear the Pittsburgh International Airport, which is net leased to General ElectricCo.