Contact Information: Contact: Dan Williams (651) 855-9671
Meritex Enterprises Announces Second Acquisition in Houston Market
| Source: Meritex Enterprises
ROSEVILLE, MN -- (MARKET WIRE) -- March 14, 2007 -- Meritex Enterprises announces the purchase of
the Portwall Building, a Class A warehouse facility located at 200 Portwall
Street in Houston, Texas. The property is 205,000 square feet and 100%
occupied by two tenants.
This investment marks Meritex's second acquisition in the Houston market
within the last 14 months. The purchase is consistent with Meritex's
strategy to build portfolios of multi-tenant industrial properties in
targeted markets such as Houston, Atlanta, Indianapolis, Minneapolis and
Columbus. "We are excited to add the Portwall Building to our real estate
holdings. We feel the Houston market continues to offer many great
opportunities for additional acquisitions going forward," commented Dan
Williams, chief investment officer.
Dan Ward, director of real estate, and Kathy Kopplow, assistant property
manager, will be responsible for managing the Portwall Building along with
other assets owned by Meritex in the Houston and Atlanta markets.
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
10.7 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.