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Meritex Completes Redevelopment at Twin Cities Industrial Park
Meritex, through its Industrial Fund IV, has completed redevelopment of its newest Twin Cities acquisition, Parkers Lake Commerce Center, a three-building, 381,349-square-foot infill industrial portfolio in Plymouth, MN. Meritex purchased the portfolio in June 2021 with the intent of modernizing and enhancing the buildings to attract local, regional, and international companies.
“We felt Parkers Lake Commerce Center could capitalize on the need for high clear height warehouse space in this market and are excited to bring that vision to fruition,” said Matt Wagner, senior director of investments. “We now have a fully leased, highly functional warehouse in a high-demand submarket.”
That fully leased warehouse is the 168,100-square-foot Building I, for which Stratasys, a leader in polymer 3D printing solutions, entered into a seven-year lease. Jason Meyer and Brent Masica with Cushman & Wakefield represented Meritex in the lease transaction. Jim DePietro with CBRE represented Stratasys.
- ◦Lease
- ◦Development
