Contact Information: Contact: Arvid Povilaitis (651) 855-9708
Meritex Announces 2010 New Green-for-Green Program
| Source: Meritex Enterprises
MINNEAPOLIS, MN--(Marketwire - January 12, 2010) - Meritex announced today an exciting new
sustainability program called "Green-for-Green" available at all of its
properties nationwide. Meritex will reimburse up to 20% of the net cost
for tenant-sponsored "Green" building improvements. Meritex has committed
up to $100,000 for "Green-for-Green" improvements in 2010 -- available to
all its tenants on a first come-first serve basis.
Payback for the tenant on sustainability projects, such as replacing
older-style warehouse lights with energy efficient T-5 lights, can be in as
little as 1-2 years due to current rebates available from utility companies
and municipalities, immediate savings on electrical consumption, and
Meritex' 20% contribution.
Tenants receive the benefit of all rebates, potential tax savings, and
energy consumption savings over the term of their lease, allowing them to
immediately reduce occupancy costs in Meritex-owned properties. As a
result, many are showing interest in the "Green-for-Green" program.
"Everybody wins with this program, our tenants, our vendors, and most
importantly the environment," said Arvid Povilaitis, Chief Operating
Officer of Meritex in Minneapolis. "Meritex is proud to offer
'Green-for-Green' to all of our tenants and to have the opportunity to
partner with them in 2010 in creating over $500,000 in new green projects."
The Meritex "Green-for-Green" program is in addition to other standard
sustainability practices that the company employs during regular remodeling
of tenant spaces and property redevelopment.
Jeremy Woods of Summit Realty Group, exclusive broker for Meritex in
Indianapolis, commented, "The Meritex 'Green-for-Green' program is unique
in the industrial sector, and could offer Meritex an occupancy edge over
competing properties. Meritex' sensitivity to its tenants' total occupancy
costs is in keeping with its commitment to high customer satisfaction. We
are happy to be a part of the Meritex leasing team."
Company Information: Meritex is a private real estate investment and
management company that acquires, develops, owns and operates commercial
real estate, primarily institutional grade, multi-tenant industrial
properties. The Company owns, leases, and manages 8.0 million square feet
of commercial real estate in 8 markets in the U.S. Its portfolio consists
of multi-tenant industrial, office and subsurface industrial properties.
The Company's properties are located in Atlanta, Columbus, Denver, Houston,
Indianapolis, Kansas City, Minneapolis-St. Paul, and Warren, OH.
Additional information can be found at the Company's website
www.meritex.com.