SOURCE: Meritex Enterprises

Meritex Enterprises

January 12, 2010 03:00 ET

Meritex Announces 2010 New Green-for-Green Program

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.

Contact Information

  • Contact:
    Arvid Povilaitis
    (651) 855-9708