Monmouth Real Estate Investment Corp. has paid $96.7 million for a new 657,518-square-foot industrial building located at 3150 Highway 42 in Locust Grove, Ga.
The property is net-leased for 20 years to Home Depot U.S.A., Inc. The building is situated on approximately 130 acres and has a land-to-building ratio of nearly nine times, providing ample opportunity for future development to drive accretive growth.
Michael Landy, president and CEO of Monmouth, said, “We are very pleased to announce this high-quality acquisition. A common misconception is that all industrial real estate provides a linkage to the digital economy, but in fact, a new type of industrial real estate has been designed specifically to serve the computer-driven supply chain. These smart, highly-automated facilities are uniquely equipped to handle omni-channel distribution.”
Landy added, “With the addition of this brand new facility near Atlanta, Monmouth’s weighted average building age i
