SOURCE: Meritex Enterprises

March 14, 2007 07:00 ET

Meritex Enterprises Announces Second Acquisition in Houston Market

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.

Contact Information

  • Contact:
    Dan Williams
    (651) 855-9671