MINNEAPOLIS, MN --(Marketwired - May 21, 2014) - Meritex Lenexa Executive Park announced three new leases in the first quarter of 2014 totaling 65,500 SF along with a 100,000 square foot expansion by Cavern Technologies. Meritex has also leased 113,000 SF, in short-term expansions, to some of their existing customers. "Companies outside Johnson County have discovered the underground as a great value in a great location," Lonnie Cannon, Property and Leasing Manager stated, "Our existing tenants are growing and our flexibility offers them the ability to expand with very little cost."
Wil Fischer, LLC leased 34,000 SF for its Kansas City, Kansas Budweiser Distributor business. They have been in business as a Budweiser Distributor in Springfield, MO since 1966 and recently expanded into the Kansas City, Kansas market. "We had an opportunity to grow our business that required a fast decision," explained Jeffrey Gower, President. "The Meritex staff was extremely responsive. The attributes and advantages of the facility led us to a straightforward and clear decision."
Riverstone Goods inked a deal in March to expand their operations. Their 24,000 SF facility will enable them to broaden their line of goods and services, improve customer service and become more efficient. Zu Adams, Owner, recently stated that, "The underground allowed us to double our footprint economically and the covered parking is a bonus."
One Power, LLC has leased 7,500 SF for their operation.
Cavern Technologies has continued to grow into the region's largest data center by leasing an additional 100,000 square foot space to add to their existing 56,000 square foot operation. "Cavern Technologies' partnership with Meritex is the bedrock of our ability to sustain a 100% growth rate in each of the past three years. Our customers enjoy the peace of mind that comes from locating their mission critical data within a uniquely secure, reliable and efficient infrastructure. The Meritex underground is world class facility with a team to match," says Cavern Technologies' CEO Pete Clune.
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.