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.
“Our brokerage team saw the potential in cultivating industrial sites with just-in-time proximity to the Vance plant,” said Henry Graham II. “That 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.”
Graham & Company served as developer for the project, with Cooper Construction and Five South Architecture the project’s design/build team.