Meritex Leases Westbelt Spec Building Ahead of Schedule
COLUMBUS, OH--(Marketwire - April 17, 2008) - Meritex Enterprises announced today that it
signed the final lease for its 52,800 SF speculative development, Exchange
Center II, in Westbelt Business Park, achieving 100% occupancy within 14
months of building completion. Exchange Center II is now serving the needs
of five local and national businesses.
Jill Evans, Columbus Portfolio Manager for Meritex, stated, "It's about
delivering the right product in the right market at the right price."
Meritex owns 1.7 million SF serving 57 tenants in the greater Columbus
area, including Gahanna, Groveport, and Rickenbacker. The leasing success
Meritex has achieved in Columbus illustrates its understanding of the
unique needs of the smaller user.
RjBoll Realty, Ltd. exclusively represented Meritex in leasing Exchange
Center II. Ray Boll commented, "I'm proud to be a part of the success of
the first spec building developed in Westbelt since 1980. Exchange Center
II leased even faster than we projected," to which Jeff Boll added, "If you
believe in the building you represent, you can lease it faster to quality
tenants. We believe in this product and in the continuing strength of the
Westbelt sub-market."
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.