Monmouth Real Estate invests in Locust Grove

Aerial photo of Locust Grove industrial space (staff photo)

Monmouth Real Estate Investment Corporation of Holmdel, New Jersey announced the purchase of a Locust Grove distribution center. The sale — reported on December 24 — had a purchase price of $96.7 million. The 657,518 square foot building is located at 3150 Highway 42.

Home Depot U.S.A., Inc. leased the building for twenty years. The company...

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Clayton Carte is the founder and owner of MHF News. He founded the site in 2017 to highlight transportation projects. Over time, he began covering other topics like new development so residents can best know what’s happening in our community.