Meritex Buys Phoenix Industrial Asset for $26M
ByPark Ladera at Spectrum Ridge
Phoenix—Meritex, a private real estate investment and management company that acquires, develops, owns and operates commercial real estate, has announced the purchase of Park Ladera at Spectrum Ridge, an industrial project in Phoenix. According to Yardi Matrix, Trammel Crow Co. sold the asset for $26.4 million.
“This acquisition is in keeping with our strategy of investing in markets that provide opportunity for growth, expansion and diversification. We continue to seek additional investments in the market with a goal of building an industrial portfolio of 1.5 to 2.0 million square feet in Phoenix,” Dan Williams, CIO of Meritex, said in a prepared statement…