MINNEAPOLIS, MN--(Marketwired - July 15, 2014) - Meritex announces the ground-breaking for the development of the Highcrest Distribution Center, a 130,000 square foot industrial distribution project located at 2400 Terminal Road in Roseville, Minnesota.
The Highcrest Distribution Center benefits from a rare in-fill location with outstanding freeway access. Roseville is centrally located between both Minneapolis and St. Paul. The project will have 32-foot clear ceilings, up to 40 dock doors, ESFR sprinkler system, and can be subdivided to accommodate smaller tenants. The building is also designed to be served by the Minnesota Commercial Railway. The project will be ready for occupancy in November 2014.
This 9-acre development site was part of a larger 42-acre site that Meritex began marketing to users in 2009. This strategy proved very successful as Meritex sold four land parcels totaling 33 acres to AirGas, Certifit, Setzer (Federal Express) and Trammel Crow who have all constructed modern, Class A industrial buildings on their respective sites.
"We are excited to deliver the Highcrest Distribution Center to the marketplace. The combination of its central location within a new industrial park, its state-of-the-art design and its potential for rail service make it a truly unique industrial offering," said Dan Williams, chief investment officer for Meritex.
The project was designed by Pope Architects. R.J. Ryan is the general contractor. Matt Oelschlager, John Ryden and Mike Bowen of CBRE are marketing the property for lease.
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 9.6 million square feet of commercial real estate in eight 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, Denver, Houston, Indianapolis, Kansas City, Minneapolis-St. Paul, and Phoenix. Additional information can be found at the Company's website www.meritex.com.