SOURCE: Meritex

Meritex

November 05, 2009 05:00 ET

Meritex Announces Major Lease Renewals in Minneapolis-Saint Paul Market

MINNEAPOLIS, MN--(Marketwire - November 5, 2009) - Meritex announced today that it has renewed its lease of 170,379 square feet with Northern Tool & Equipment Company, Inc. for its distribution center at the Huntington Building located at 14399 Huntington Avenue in Savage, Minnesota. Northern Tool is a retailer of a variety of consumer and industrial grade tools and power equipment. The Huntington building is shared with ABC Supply Company, Inc., a roofing, siding and window wholesale distributor. Meritex was assisted in the transaction by Bill Ritter, Ryan Krzmarzick and Eric Rossbach of the Welsh companies, who have represented Meritex in leasing the Huntington building since Meritex acquired it in 2004.

In addition, Meritex announced that it has renewed its lease of 118,000 square feet with Murphy Warehouse Company, Inc., a provider of third party logistics services, at the Distribution Center 1 building located at 355 East 8th Street in Saint Paul, Minnesota. In addition to the Murphy Warehouse Company, Meritex leases space in the building to Recall Total Information Management, The Science Museum of Minnesota and The State of Minnesota.

"These are two of the largest lease transactions completed in the Minneapolis-St. Paul market this year. We are very pleased to have been able to satisfy our customers' needs in this challenging environment and have the opportunity to continue to service their future requirements," commented Arvid Povilaitis, COO of Meritex.

Meritex is actively seeking to expand its Class A/Class B multi-tenant industrial portfolio in the market.

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.

See the Company's website for additional information: www.meritex.com.

Contact Information

  • Contact:
    Arvid Povilaitis
    651-855-9708