Mercedes-leased warehouse sells for $51.7 million

Monmouth Real Estate Investment Corp. has purchased a 530,000-square-foot distribution center in Vance that is fully leased to Mercedes-Benz US International.

Monmouth Real Estate Investment Corp. has purchased a 530,000-square-oot distribution center in Vance.

Monmouth Real Estate Investment Corp. has purchased a 530,000-square-foot distribution center in Vance that is fully leased to Mercedes-Benz US International.

The facility, on 53.5 acres, will be used as a storage and sequencing facility for vehicle parts supporting Mercedes’ EV production expansion.

The build-to-suit project for Mercedes was facilitated by Birmingham-based Graham & Company, who first completed a similar project for the auto maker 15 years ago.

ā€œOur brokerage team saw the potential in cultivating industrial sites with just-in-time proximity to the Vance plant,ā€ said Henry Graham II. ā€œThat foresight and expertise has now allowed Graham & Company to deliver more than 1.2 million square feet across three different build-to-suit industrial projects within 1 mile of the main entrance to the Vance MBUSI plant.ā€

Graham & Company served as developer for the project, with Cooper Construction and Five South Architecture the project’s design/build team.

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