Minneapolis, MN (PRWEB) April 12, 2012
Meritex today announced a further expansion of its joint venture holdings in Atlanta with the acquisition of a 79,500 square foot, multi-tenant, office/warehouse project located at 6180 Atlantic Boulevard in Norcross, Georgia. The value-add property is currently 72% occupied by nine tenants.
“Our investment strategy focuses on acquiring properties where we can create value and produce consistent cash flows,” said Dan Williams, chief investment officer of Meritex. “The Atlantic Boulevard property is well-located and highly functional, but has suffered from deferred maintenance. Our immediate focus will be to reposition the asset to meet Meritex standards by investing capital to enhance landscaping, repave drive/parking areas and renovate suite interiors.”
This acquisition further expands Meritex’s joint venture relationship with a major institutional investor by increasing its holdings to more than 898,000 square feet. Meritex is the managing partner and will manage the Norcross property on behalf of the venture. Resource Real Estate Partners, LLC has been retained as the leasing agent for the property.
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 nine 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, Denver, Houston, Indianapolis, Kansas City, and Minneapolis-St. Paul. Additional information can be found at the Company’s website http://www.meritex.com.