MINNEAPOLIS, MN--(Marketwire - January 5, 2011) - Meritex Enterprises, Inc. announces the acquisition of a ten-building, 726,000 square foot, office/warehouse portfolio in Atlanta, Georgia from Young Ventures, L.P. and The Estate of Maxwell W. Young. The class-A, multi-tenant properties range in size from 41,000 to 122,000 square feet and are located in the northern suburbs of Lawrenceville, Norcross, Smyrna, and Kennesaw. The portfolio is currently 95% occupied with 40 tenants, many of which are corporate or regional headquarter locations. The properties will be managed by Dan Ward and Sharon Willis of Meritex who are both based in Atlanta.
"We are excited to add these excellent assets to our Atlanta holdings," said Dan Williams, chief investment officer of Meritex. "This acquisition is significant for Meritex not only due to its scale, but also because of how well the properties aligned with our strategically targeted submarkets and product type. With this purchase, we now own 1.5 million square feet of multi-tenant industrial product in the Atlanta market."
Company Information: Meritex 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 7.4 million square feet of commercial real estate in 7 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, and Minneapolis-St. Paul. Additional information can be found at the Company's website www.meritex.com.
Contact Information:
Contact:
Daniel Williams
651-855-9671