PRESS 2007

2008 - 2007 - 2006

Meritex Enterprises Leases 21,120 Square Feet to All-Pak, Inc. in Columbus, Ohio

May 2, 2007 - Meritex Enterprises announced today that it has leased 21,120 square feet to All-Pak, Inc. in Meritex’s newest development, Westbelt Exchange Center II. All-Pak is one of the top packaging distributors in the United States offering a full line of rigid packaging items – glass and plastic bottles, closures, pumps, sprayers, metal cans, steel and plastic drums, fibre drums, and more.  “All-Pak has served the Columbus market for over 25 years.  This new warehouse gives us the opportunity to expand the value added services we already provide” commented Shane Clapham, division sales manager for All-Pak.

Westbelt Exchange Center II is a Class A, 52,800 square foot office/warehouse building developed by Meritex Enterprises which was recently completed in March 2007. The building is located on the west side of Columbus in the Westbelt Business Park offering space to small/medium-sized tenants in a big-box market.  “We very pleased to announce this deal which marks the first transaction at our new development project in Columbus,” said Jill Evans, portfolio manager for Meritex in Columbus.

All-Pak was represented by Howard Burack of Commercial One, and Meritex was represented by Rj BOLL Realty Ltd.

Meritex Enterprises announces the purchase of the Portwall Building

March 12, 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.

Meritex Enterprises Announces Grand Opening of Westbelt Exchange

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.

Meritex Enterprises Acquires 303,830 s.f. Office/Warehouse Portfolio in Atlanta, GA

January 9, 2007 - Meritex Enterprises has acquired the Royal Woods Business Center, a 4-building office/warehouse portfolio totaling 303,830 square feet located in Stone Mountain, Georgia, a suburb of Atlanta.  The buildings are 100% occupied with about 20 tenants operating in the local, regional, national and international markets.  Meritex now owns 8 buildings in the Atlanta market totaling 587,670 square feet.  These buildings are managed by Dan Ward, Asset Manager with Meritex in Atlanta.

The purchase of these assets complements Meritex’s strategy to own multi-tenant office/warehouse properties in key U.S. markets. “Meritex will continue to execute its strategy of providing industrial space solutions to its customers in cost effective, well-located properties in major markets and throughout the United States,” commented Dan Williams, Chief Investment Officer of Meritex.