PHOENIX—Meritex announces its entry into the Phoenix market with the acquisition of a two building industrial portfolio totaling 193,366 square feet. The class A properties are located at 21410 and 21415 North 15th Lane in Deer Valley.
“We are excited about the addition of the Deer Valley properties to our portfolio and our entry into the Phoenix market,” says Dan Williams, chief investment officer for Meritex in Minneapolis. “The acquisition of these assets complements our investment strategy of entering into markets that provide opportunity for growth, expansion and diversification of our industrial portfolio. Meritex continues to seek additional investment opportunities in the Phoenix market.” JLL managing directors Tony Lydon and Pat Harlan represented Meritex in the transaction.,
Meritex has selected Metro Commercial Properties to continue management of the properties. The properties are located in the thriving Deer Valley submarket and have a track record of consistent demand. The properties are currently 97% occupied by 10 tenants including a recent tenant expansion of nearly 15,000 square feet. John PompayofCassidy Turley has been retained as the listing agent for the properties.
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