SMC Corporation recently approached us with an interest in acquiring the property as an adjunct to their campus. It simply made sense for us to sell at this time. -Dan Williams, Chief Investment Officer
Minneapolis, MN (PRWEB) August 02, 2012
Meritex today announced the sale of a 51 acre land site located at 146th Street and Howe Road in Noblesville (Indianapolis), Indiana to SMC Corporation of America.
“Meritex acquired this property in 2008 with the intent of developing a light industrial park totaling over 500,000 square feet,” said Dan Williams, chief investment officer of Meritex. “However, the Great Recession came along and essentially shut down all demand for new space. SMC Corporation recently approached us with an interest in acquiring the property as an adjunct to their campus. It simply made sense for us to sell at this time.”
Jeremy Woods with Summit Realty Group represented Meritex on the disposition. Meritex currently owns and manages more than 875,000 square feet in the Indianapolis market.
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 nearly 9.2 million square feet of commercial real estate in 7 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.