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| 21410 and 21415 North 15th Lane, Deer Valley, AZ |
Minneapolis, MN - Meritex announced its entry into the
Phoenix market with the acquisition of a two (2) building industrial portfolio
totaling 193,366 square feet.
The class A properties are located at 21410 and
21415 North 15th Lane in Deer Valley, Arizona.
“We are excited about the addition of the Deer Valley
properties to our portfolio and our entry into the Phoenix market,” commented Dan
Williams, chief investment officer for Meritex in Minneapolis.
“The acquisition of these assets complements our investment
strategy of entering into markets that provide opportunity for growth,
expansion and diversification of our industrial portfolio.
JLL managing directors Tony Lydon and Pat
Harlan represented Meritex in the transaction, which closed on March 7,
2014.
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| Tony Lydon |
Meritex continues to seek additional investment
opportunities in the Phoenix market.”
JLL managing directors Tony Lydon and Pat Harlan represented Meritex in
the transaction, which closed on March 7, 2014.
Meritex has selected Metro Commercial Properties to continue
management of the properties.
“We look forward to
working with Metro Commercial Properties,” commented Arvid Povilaitis,
chief operating officer of Meritex.
“The properties are located in the thriving Deer Valley
submarket and have a proven track record of consistent demand. The properties
are currently 97% occupied by ten (10) tenants including a recent tenant
expansion of nearly 15,000 square feet.”
John Pompay of Cassidy Turley has been retained as
the listing agent for the properties.
For a complete copy of the company’s news release, please
contact:
Stacey Hershauer
focusAZ
Marketing & Public Relations
(480) 600-0195
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