Press 2009

Meritex announces major lease renewals in Minneapolis-Saint Paul Market

November 5, 2009 – Meritex announced today that it has renewed its lease of 170,379 square feet with Northern Tool & Equipment Company, Inc. for its distribution center at the Huntington Building located at 14399 Huntington Avenue in Savage, Minnesota.   Northern Tool is a retailer of a variety of consumer and industrial grade tools and power equipment.  The Huntington building is shared with ABC Supply Company, Inc., a roofing, siding and window wholesale distributor. Meritex was assisted in the transaction by Bill Ritter, Ryan Krzmarzick and Eric Rossbach of the Welsh companies, who have represented Meritex in leasing the Huntington building since Meritex acquired it in 2004.
In addition, Meritex announced that it has renewed its lease of 118,000 square feet with Murphy Warehouse Company, Inc., a provider of third party logistics services, at the Distribution Center 1 building located at 355 East 8th Street in Saint Paul, Minnesota.  In addition to the Murphy Warehouse Company, Meritex leases space in the building to Recall Total Information Management, The Science Museum of Minnesota and The State of Minnesota.
“These are two of the largest lease transactions completed in the Minneapolis-St. Paul market this year. We are very pleased to have been able to satisfy our customers’ needs in this challenging environment and have the opportunity to continue to service their future requirements,” commented Arvid Povilaitis, COO of Meritex.
Meritex is actively seeking to expand its Class A/Class B multi-tenant industrial portfolio in the market. 

Meritex Announces 2009 Leasing Activity in Indianapolis

October 29, 2009 - Meritex announced today that during 2009 it has signed leases in the Indianapolis market aggregating 171,682 square feet.  Over 50% of the square footage included leases signed at 9910 North by Northeast Boulevard in Fishers, Indiana; an existing tenant recently expanded their space and, a new tenant, DQE Inc., will be taking occupancy in December.

In the southwest part of the City of Indianapolis, Meritex signed American Foam, Fiber & Supplies, Midwest, Inc. for 45,144 square feet at its Airport Park property.  In addition, Meritex announced leasing of 30,538 square feet with the renewal of American Window and the signing of ITS-Emergency Medical Services at its Park Fletcher IV facility.

Summit Realty Group was in involved in a majority of the transactions led by Jeremy Woods, CCIM, SIOR, Andrew Morris, SIOR, Ryan Kelly and Matt McGrady.