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HOUSTON-A Minnesota buyer has expanded its footprint, acquiringa 205,000-sf industrial building on the city's northeastern side.The off-market deal has brought $10.4 million.
Meritex Enterprises of Roseville, MN bought the building at 200Portwall St. from Denver-based Argus Realty Investors LP forseveral reasons--location, full tenancy and product. "We have apretty well-defined and targeted product type," says Dan Williams,Meritex's chief investment officer. He says that the buyer'spreferred assets are multi-tenant industrial properties with lowoffice finishes. In late 2005, Meritex bought a 104,315-sfwarehouse at 1251 Clay Ct. in Battleground Business Park insoutheast Houston.
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