
Meritex Acquires 120,000+ sq. ft. Class A Industrial Property in Houston
April 18, 2023 Houston, TXMeritex has closed on the purchase of Century Plaza DC IV, a
120,022 sq. ft. Class A industrial building. The property is located at 350
Century Plaza Drive, Houston, Texas, in the deed-restricted Century Plaza
Business Park. Century Plaza DC IV benefits from great accessibility,
significant logistical advantages with proximity to I-45 (less than one mile)
and George Bush Intercontinental Airport (10 miles), and freeport tax exemption
availability.
“Our investment strategy was to acquire a newly constructed,
best-in-class asset in a superior in-fill location,” explains Drew Evans,
director of acquisitions for Meritex in Texas. “The building as it stands today
includes 2,600 sq. ft. of spec office, multiple HVLS fans, speed-bay lighting,
30K lb. mechanical levelers, and is move-in ready.”
The site was one of the last undeveloped parcels within
Century Plaza Business Park. The project is surrounded by Class A product,
national credit tenants, and institutional ownership including Prologis, Exeter
and Nuveen.
Ben Lieser, regional manager for both Minnesota and Texas
adds, “We’ve had a presence in the Houston market since 2005 and continue to
seek out opportunities as net absorption keeps pace with new deliveries and
leasing demand remains strong.”
Century Plaza DC IV features 22 dock-high doors, two drive-in doors, a 32’ clear height, ESFR sprinkler system, and includes space for two single storefronts.