MINNEAPOLIS, MN--(Marketwired - October 02, 2014) - Meritex announced today the sale of 20101 East 36th Drive, a 277,236 SF warehouse property, located in Aurora (Denver), Colorado.
Meritex acquired the asset in 1996 and enjoyed a long standing relationship with the United States Postal Service who leased all or most of the building over the years. The marketing of vacant space drew interest from an owner/user for one of their operating businesses, which resulted in the sale.
Daniel Williams, chief investment officer for Meritex commented, "This transaction was significant for Meritex because, by selling to a user/buyer, we were able to significantly accelerate our planned disposition strategy for the asset. The proceeds from this sale will be used to expand our multi-tenant industrial portfolio in targeted markets."
Meritex was represented by Mike Camp of CBRE's Greenwood Village office in Colorado.
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 9.1 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.
Image Available: http://www.marketwire.com/library/MwGo/2014/10/1/11G022969/Images/20101_East_36th_Drive-Denver_CO-956960358641.jpg
Contact Information:
Contact:
Dan Williams
(651) 855-9671
