Contact Information: Contact: Arvid Povilaitis (651) 855-9708
Meritex Enterprises Announces Grand Opening of Westbelt Exchange Center II in Columbus, Ohio
| Source: Meritex Enterprises
ROSEVILLE, MN -- (MARKET WIRE) -- February 28, 2007 -- Twin Cities-based Meritex Enterprises, Inc.
announces the grand opening of Westbelt Exchange Center II located at
1709-1763 Dividend Drive in Columbus, Ohio. Forty local brokers attended
the grand-opening party in Mardi Gras style hosted by Jill Evans, portfolio
manager, and Melissa Brickner, assistant property manager. "We are proud
of delivering the first new speculative project in the Westbelt market in
years," said Jill Evans, "and we look forward to continuing to meet the
needs of our customers here in Columbus." Meritex is working with Ray and
Jeff Boll of Rj Boll Realty, Ltd. to market Westbelt Exchange Center II.
The newly developed property is a Class A, 52,800 office/warehouse building
located in the heart of the Westbelt trade area on the west side of
Columbus. The Property features 5,280 square foot bays each served by a
drive-in dock and a truck height dock, with ceiling heights at 21 feet and
column widths at 30' x 44', and parking for 84 cars.
The property is also part of a City of Columbus Enterprise Zone Agreement.
As part of this agreement, Meritex will be working with each new tenant
along with the Franklin County Department of Jobs and Family Sources and
the Hilliard School District in locating and training qualified employees.
This, in turn, allows for a 65% tax exemption for 7 years.
Company Information:
Meritex Enterprises, Inc. 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 10.5 million square feet
of commercial real estate in 11 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, Chicago, Columbus, Denver,
Houston, Indianapolis, Kansas City, Memphis, Minneapolis-St. Paul,
Nashville, and Warren, OH. In addition, a subsidiary, Meritex Logistics,
provides third party logistics services in Chicago, Kansas City, Memphis,
Nashville, Warren and St. Paul.
Additional information can be found at the Company's website
www.meritex.com.