Meritex announced Tuesday its entry into the Phoenix market with the acquisition of a two-building industrial portfolio totaling 193,366 SF. The Class-A properties are located at 21410 and 21415 N. 15th Ln. in Deer Valley, Ariz.
Meritex continues to seek additional investment opportunities in the Phoenix market.” JLL managing directors Tony Lydon and Pat Harlan represented Meritex in the transaction, which closed on March 7.
Meritex has selected Metro Commercial Properties to continue management of the properties. “We look forward to working with Metro Commercial Properties,” commented Arvid Povilaitis, chief operating officer of Meritex. “The properties are located in the thriving Deer Valley submarket and have a proven track record of consistent demand. The properties are currently 97% occupied by 10 tenants including a recent tenant expansion of nearly 15,000 SF.” John Pompay of Cassidy Turley has been retained as the listing agent for the properties.