SOURCE: Meritex Enterprises

Meritex Enterprises

March 26, 2015 05:00 ET

Meritex Announces Acquisition of MetroAir Building #3

MINNEAPOLIS, MN--(Marketwired - March 26, 2015) - Meritex today announced the acquisition of the MetroAir Building #3, a 248,358 square foot Class A facility located at 758 Columbia Road in Plainfield, Indiana. The property, part of the MetroAir Business Park, is 100% occupied, features an ESFR sprinkler system and a 28 foot clear ceiling height.

"Our investment strategy focuses on acquiring properties where we can create value and produce consistent cash flows," said Dan Williams, chief investment officer of Meritex. "MetroAir Building #3 is well-located in the premier Plainfield submarket, is highly functional, and offers the added benefit of a 140 foot deep truck court and ample parking."

This acquisition expands Meritex's Indianapolis portfolio to more than one million square feet. Meritex will directly manage the MetroAir property along with its other holdings in Indianapolis. "We are excited about the addition of this property to our portfolio in the Indianapolis market," commented Jill Evans, portfolio manager for Meritex in Indianapolis. "With excellent access to major Midwest transportation routes, including I-70, I-74 and I-65, MetroAir Building #3 is an asset to our portfolio."

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 over 8.8 million square feet of commercial real estate in seven 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, Houston, Indianapolis, Kansas City, Minneapolis-St. Paul, and Phoenix. Additional information can be found at the Company's website www.meritex.com.

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Contact Information

  • Contact: 
    Daniel K. Williams
    (651) 855-9671