SOURCE: Meritex

Meritex

November 17, 2010 06:00 ET

Dero Bike Rack Company Chooses Meritex Midway Business Center for Its New Headquarters Site

MINNEAPOLIS, MN--(Marketwire - November 17, 2010) - Meritex announced today a new lease with Dero Bike Rack Company for 23,879 square feet at 504 Malcolm Ave S.E. in Minneapolis. Dero Bike Rack Company, www.dero.com, based in Minneapolis, is an innovator in bicycle rack design and chose Meritex for its relocated manufacturing plant. 

"Dero is excited to be moving to a building that has an image in line with the future of Dero Bike Racks. We conducted a multi-location search for our new facility, and we feel that the Meritex property is the ideal solution. The property met all of our requirements for the business, is excellent for access for our employees, and is a high quality facility we will be proud to show visitors and future customers," commented Hans Steege, Chief Executive Officer of Dero. "A significant feature of the building is its location on the intercampus bus and bike lane. Many of our employees ride bikes to work every day."

Meritex owns and manages 2 million square feet of industrial properties in Minnesota. "We are proud to have the opportunity to provide Dero with the facility they need to retain and expand Green jobs especially given the Green opportunities on the horizon," said Steve Dorff, Asset Manager for Meritex. "Meritex is committed to Green practices, pledging up to $100,000 in Green improvements to our portfolio nationally in 2010 with our successful Green for Green program. We are thrilled to have the opportunity to partner with an industry leader at our Malcolm Avenue property."

Dero Bikes was represented by Steve Chirhart and Ron Moss of TaTonka Real Estate Advisors in the lease transaction and Meritex was represented by Brian Doyle and Eric Batiza of the Welsh Companies.

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 6.7 million square feet of commercial real estate in 7 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, and Minneapolis-St. Paul. Additional information can be found at the Company's website www.meritex.com.

Contact Information

  • Contact:
    Steve Dorff
    651-855-9672