Meritex is nearing completion on two state-of-the-art 144,000-square-feet bulk-distribution buildings in Roseville, totaling 288,000 sq-ft. The buildings, called Highcrest II and III, were constructed after the acquisition and demolition of a 360,000-sq.-ft. industrial property, formerly
known as the Minnesota Technology Exchange building. Meritex acquired the property in November 2017. Highcrest II and III have already been well received in the market.
“We’ve seen an increase in companies looking to take advantage of the 32’ clear height and excellent access to Interstate 35W,” said Ben Lieser, Minnesota regional manager at Meritex. “Leasing activity has been strong with 36,000 square feet already signed with a multinational company that is thrilled to be in a brand-new building conveniently located to their customers.”
The development site, located at 2501 and 2503 Walnut Street in Roseville, has close access to Interstate 35W, Highway 36 and Highway 280, and is closer to downtown Minneapolis and downtown St. Paul than any other recent industrial development. It is zoned I-1, which permits a variety of uses including manufacturing, warehousing and distribution, and will feature 32-foot-clear ceilings and ESFR sprinkler systems.
The site is across the street from Meritex’s fully-leased, 130,000-sq.-ft., Class A office-warehouse known as Highcrest Distribution Center I, which is currently home to Asmodee, a publisher of board games, card games and role-playing games. The Cushman & Wakefield team of David Stokes, Todd Hanson, Jason Sell, Chris Weirens and Ian Thompson are handling leasing services.
