MINNEAPOLIS, MN--(Marketwired - February 03, 2015) - Meritex today announced the acquisition of the Kennebec Distribution Center, a 155,050 square foot distribution center located at 3703 Kennebec Drive in Eagan, Minnesota. The property is 100% occupied and features an ESFR sprinkler system, a 26 foot clear ceiling height and efficient T-5 motion sensor lighting.
"Our investment strategy focuses on acquiring properties where we can create value and produce consistent cash flows," said Dan Williams, chief investment officer of Meritex. "Kennebec Distribution Center is well-located in the vibrant Eagan submarket, is highly functional, and offers the added benefit of ample parking for truck trailers."
"We are excited about the addition of this property to our portfolio in the Minneapolis/St. Paul market," commented Steve Dorff, senior property manager for Meritex in Minneapolis. "With 56 dock doors and 2 drive-in doors, the property is an ideal large-scale truck distribution center."
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 over 8.5 million square feet of commercial real estate in seven 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, 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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Contact Information:
Contact:
Daniel K. Williams
(651) 855-9671
