Meritex Enterprises Announces Multi-Tenant Industrial Development in Noblesville, Indiana

NOBLESVILLE, IN--(Marketwire - June 24, 2008) - Twin Cities based Meritex Enterprises, Inc. announces the purchase of 51.8 acres for a multi-tenant industrial development project in Noblesville, Indiana. The Noblesville Business Center will consist of seven office/warehouse buildings totaling 537,000 square feet with construction of the first building planned to begin in January, 2009. "We are excited to be a part of the growth along the 146th Street corridor in the heart of the Noblesville Corporate Campus," said Richard Eichhorn, vice president at Meritex.

Jeremy Woods of Summit Realty Group represented Meritex in the acquisition and will be responsible for leasing the project. "Meritex has honed its focus to a very specific product type -- medium distribution and office/warehouse buildings. There is no better place to own this product type than the northeast submarket of Indianapolis -- and Noblesville Business Center is the most fertile soil within the northeast to grow this type of portfolio," commented Jeremy Woods.

Company Information: Meritex Enterprises, Inc. is a private real estate investment and management company that acquires, develops, owns and operates commercial real estate, primarily institutional grade, multi-tenant industrial properties. The Company owns, leases and manages 8.8 million square feet of commercial real estate in nine markets in the U.S. Its portfolio consists of multi-tenant industrial, office and subsurface industrial properties. The company's properties are located in Atlanta, Columbus, Denver, Houston, Indianapolis, Kansas City, Minneapolis-St. Paul, Nashville, and Warren, OH. In addition, a subsidiary, Meritex Logistics, provides third party logistics services in Kansas City, Memphis, Nashville, and Warren. Additional information can be found at the Company's website www.meritex.com.

Contact Information: Contact: Richard Eichhorn (651) 855-9704