For Monmouth Capital, the acquisition marks the company's entrée into the Virginia market. "This acquisition brings the total number of industrial properties owned by Monmouth Capital to five," says company president Eugene W. Landy, "and we are confident that it will prove to be a strong addition to our portfolio of properties."
Being able to boast full occupancy in Richmond's industrial market these days is quite a coup; the vacancy rate among warehouse and distribution properties is 17.9%, according to Advantis Real Estate Services Co.'s Mid-Year 2004 Industrial Report.
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