In 1916, Harry McNeely, the grandson of Irish immigrants, forms the St. Paul Terminal Warehouse Company by leasing a warehouse in St. Paul, MN near the “terminal” end of the Soo Line Railroad. Over the next 95 years, the company he founded expanded its public warehousing business to several markets throughout the country and entered an array of related endeavors in transportation, financial and real estate markets.
Today, Meritex Enterprises owns nearly 9 million square feet of industrial property in eight markets across the United States. Scroll down for some milestones in our company’s history.
1929: Harry McNeely begins an expansion of his company by taking over the management of warehouses in Minneapolis, Minnesota.
1951: Harry McNeely, Jr. is elected to the company’s Board of Directors.
1969: The Company enters the underground warehouse market by purchasing a facility outside of Kansas City, Kansas and developing it initially as a warehouse for General Foods.
1970: The St. Paul Terminal Warehouse Company is renamed Space Center, Inc.
1990: Space Center, Inc. is reorganized into two asset-owning companies: Space Center Enterprises, owned by Harry McNeely, Jr., and Space Center, Inc., owned by Donald McNeely.
1991: Paddy McNeely begins working for Space Center Enterprises as a manager of properties in St. Paul, Minnesota. For the first time, the Company elects a Board of Directors with a majority of independent members.
1995: The Company enters the Atlanta, Georgia industrial real estate market.
1996: The Company enters the Denver, Colorado industrial real estate market.
1999: Space Center Enterprises becomes Meritex Enterprises, Inc. The Company acquires a site in Lenexa, Kansas to develop its fourth underground warehouse facility.
2001: The Company’s Board elects Paddy McNeely as CEO and Chairman. The Company narrows its focus to acquiring, developing, and leasing industrial real estate.
2003: The Company enters the Columbus, Ohio and Indianapolis, Indiana industrial real estate markets.
2005: The Company enters the Houston, Texas industrial real estate market.
2006: The Company celebrates its 90th anniversary.
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