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.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).