SOURCE: Meritex Enterprises

March 12, 2008 04:00 ET

Meritex Leases 192,000 Square Feet in Indianapolis

ROSEVILLE, MN--(Marketwire - March 12, 2008) - Meritex Enterprises announced today that it has signed leases totaling 192,000 square feet at 9910 North by Northeast in Indianapolis.

Meritex signed a new lease for 96,000 square feet with a tenant new to the Indianapolis market. This tenant will take occupancy April 1, 2008.

Meritex also renewed 96,000 square feet with KHF Holdings. KHF Holdings is an independent owner and operator of Ashley Furniture Homestores in the Indianapolis and surrounding market area. Shortly after moving into the building three years ago, KHF doubled its size as it continued to grow and add Ashley Furniture HomeStores in the greater Indianapolis area. KHF now services three stores in Indianapolis. Steve Wood, Regional Manager for KHF, stated, "9910 is the perfect location for the distribution of Ashley furniture and also works extremely well for customer self pickup."

Richard Eichhorn, Vice President/Investments, stated, "KHF represents the type of company that Meritex is proud to serve and have as part of its tenant base in Indianapolis. Meritex currently has 500,000 square feet of owned properties in the greater Indianapolis area and is looking to acquire or develop another 500,000 to 1,000,0000 square feet of warehouse space in Indianapolis. We are excited that there has been strong demand for our product-type in the market and appreciate the opportunity to service our tenants' needs."

About Meritex:

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 over 8.5 million square feet of commercial real estate in 9 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, Minneapolis-St. Paul, Nashville, and Warren, OH. In addition, a subsidiary, Meritex Logistics, provides third party logistics services in Kansas City, Memphis, Nashville, and Warren, Ohio.

See the Company's website for additional information: www.meritex.com.

Contact Information

  • Contact:
    Richard Eichhorn
    (651) 855-9704