Meritex Enterprises, Inc. of Minneapolis, Minnesota has acquired the office/ warehouse property located at 1005 Alderman Drive from Atlanta based MSB Alderman LLC for $4,700,000. This 89% leased project contains 92,642 square feet of space and is located in the heart of the Windward Business Center. The purchaser intends to capitalize on increasing leasing momentum and drive operating efficiencies.
Scott Clayton and David Pope, of Lavista Associates, Inc., represented the seller in the transaction and have handled leasing responsibilities since 200 . This first class project caters to image conscious small-bay tenants who are attracted to one of North Atlanta's premier business environments. Recent leasing velocity had a large part in selling the asset and David Pope adds “ leasing a true upscale office/ warehouse in Windward, in combination with a landlord willing to meet the market, allowed us to raise the occupancy level from 50% to 89% and draw interest from a quality buyer like Meritex Enterprises.”
Meritex continues to add to their metro Atlanta industrial portfolio which includes projects in Lawrenceville, Norcross, Kennesaw and Forest Park.
They were represented in the transaction by Resource Real Estate Partners.