Monmouth RE pays $81.5M for Ind. Industrial building

Monmouth Real Estate Investment Corp. has acquired a nearly 616,000-square-foot industrial building in the Indianapolis metro area for $81.5 million, it announced this week.

The Holmdel-based real estate investment trust said the 615,747-square-foot property on 78.64 acres at 1151 S. Graham Road in Greenwood, Indiana, is net-leased for 15 years to Services Inc.

“In keeping with our commitment of owning a best-in-class, modern industrial property portfolio with vast linkages to the digital economy, we are very pleased to announce this acquisition,” CEO and President Michael P. Landy said in a prepared statement. “The Indianapolis industrial market represents one of the best locations in the U.S., and this acquisition further enhances our large presence here.”