Meritex breaks ground on new AmeriPlex facility
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Minnesota-based The Meritex Co. has broken ground on a new speculative building on the west side of Indianapolis.
The 80,052-square-foot class A industrial project will be in the AmeriPlex Business Park, on 4925 Decatur Blvd, near the Indianapolis International Airport. The project is slotted to be completed by the end of the year.
Meritex is a real estate investment and management firm looking to acquire and develop infill industrial properties.
The new facility will have a number of features to make operations easier, such as truck and trailer storage and office worker space and amenities, the company said. The building will also have four storefronts ranging from 20,000 to 80,000 square feet.
The property has a five-year property tax abatement with a potential two-year extension. The project is being pursued with the Meritex Industrial Fund IV, which is a core-plus, closed-end fund which looks to add infill industrial properties.
“We’re excited to continue to grow our portfolio in the area,” Meritex Regional Manager Jill Evans said in a news release. “Increasing our footprint provides our customers more options, offering flexibility for expansion, leading to potential job growth and more business opportunities for the community.”
The addition of the new project will tally Meritex’s Indianapolis footprint to over 1 million square feet of industrial space.