Meritex Completes Construction on Jefferson II Project – GlobeNewswire (press launch)

MINNEAPOLIS, Aug. 17, 2017 (GLOBE NEWSWIRE) -- The Meritex Firm introduced at the moment the completion of its Jefferson II Distribution Constructing, a 57,750-square foot Class A contemporary industrial facility positioned within the established Park 100 space of Indianapolis. The newly-accomplished growth is the primary small Class A multi-tenant industrial constructing constructed within the space in additional than a decade. Extremely versatile, Jefferson II could be leased to a full-constructing person or divided right down to as small as eight,250 sq. toes, accommodating a number of tenants. The constructing brings Meritex’s funding within the Indianapolis market to almost .three million sq. toes. 

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The Indianapolis market has seen a steadily rising demand from industrial house customers looking for lower than 15,000 sq. toes, but previous to the completion of Jefferson II, there have been no buildings within the space that would meet that want. “We’ve been conscious of the rising want for small industrial areas within the Indianapolis marketplace for fairly some time. Jefferson II was particularly designed to be adaptable to tenant wants based mostly on that demand,” says Jill Evans, portfolio supervisor for Meritex in Indianapolis.  Matt Wagner, director of acquisitions states, “We had been compelled to maneuver ahead with this growth on a speculative foundation due to the historic low emptiness, engaging rents, and lack of contemporary small to mid-bay industrial product in Park 100.”

The brand new growth was constructed alongside the Jefferson I Distribution Constructing, which Meritex acquired in 2012 together with the four.5 acres of land that Jefferson II now sits on. Jefferson I used to be in-built 2000 and has maintained 100 p.c occupancy since Meritex took over its administration. Tenants of the constructing make use of almost 30 individuals and comprise 73,290 sq. toes of house in a multi-tenant workplace/warehouse configuration.

The newly accomplished Jefferson II Distribution Constructing is positioned within the common Park 100 space and provides trendy facilities with wonderful entry. The constructing is now out there for lease and is at present being marketed by JLL.

About The Meritex Firm
Meritex is a fourth-technology, personal, household-owned actual property and funding firm that acquires, develops, owns and operates greater than 10 million sq. toes of economic actual property. The areas are primarily institutional grade, multi-tenant industrial properties. Meritex is headquartered in Minneapolis and operates in eight markets -- Atlanta, Charlotte, Columbus, Houston, Indianapolis, Kansas Metropolis, Minneapolis-St. Paul and Phoenix.

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Meritex Completes Construction on Jefferson II Project - GlobeNewswire (press launch)