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Pre-Leasing Strong on Two New Meritex Builds
Meritex is nearing completion on two 144,000-square-foot bulk-distribution buildings in the Minneapolis suburb of Roseville, MN, totaling 288,000 square feet. The facilities, known as Highcrest II and III, have already been well-received in the market.
“We’ve seen an increase in companies looking to take advantage of the 32-foot clear height and excellent access to Interstate 35W,” said Ben Lieser, Minnesota regional manager at Meritex. “Leasing activity has been strong, with 36,000 square feet already signed with a multinational company.”
Highcrest II and III were constructed after the acquisition and demolition of a 360,000-square-foot industrial property, formerly known as the Minnesota Technology Exchange building. Meritex acquired that property in November 2017.
The site is across the street from Meritex’s fully-leased Highcrest Distribution Center I. A Cushman & Wakefield team of David Stokes, Todd Hanson, Jason Sell, Chris Weirens and Ian Thompson is handling leasing for Highcrest II and III.
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