MINNEAPOLIS, MN--(Marketwired - May 18, 2017) - Meritex announced today the acquisition of 1080 Park Place, a class A, 299,600 square foot industrial property located in Shakopee, Minnesota.

1080 Park Place is 100% leased to two tenants. The property is highly functional and offers 38-foot clear heights, an ESFR sprinkler system and abundant trailer parking with excellent access from both Highways 169 and 101.

"We are excited to enter into the Shakopee industrial submarket," commented Dan Williams, chief investment officer of Meritex, "It is a dynamic investment and leasing market -- one which we have been targeting for several years. We continue to seek additional industrial real estate investments in the Minneapolis market which now totals over 1.9 million square feet."

1080 Park Place will be managed by Steve Dorff, Sr. Asset Manager at Meritex, who commented, "We are excited by the addition of the 1080 Park Place to our Minneapolis portfolio and look forward to serving our new customers."

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 11.3 million square feet of commercial real estate in eight (8) 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, Charlotte, Columbus, Houston, Indianapolis, Kansas City, Minneapolis-St. Paul, and Phoenix. Additional information can be found at the Company's website www.meritex.com.

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