{"id":1004177600,"date":"2017-05-19T08:26:58","date_gmt":"2017-05-19T16:26:58","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004177600"},"modified":"2022-12-07T17:59:33","modified_gmt":"2022-12-08T01:59:33","slug":"meritex-snags-300-ksf-industrial-property","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/meritex-snags-300-ksf-industrial-property\/","title":{"rendered":"Meritex Snags 300 KSF Industrial Property"},"content":{"rendered":"<p>By Roxana Baiceanu<\/p>\n<div id=\"attachment_1004177603\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/1080-Park-Place-Shakopee-Minn..png\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004177603\" data-attachment-id=\"1004177603\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/meritex-snags-300-ksf-industrial-property\/1080-park-place-shakopee-minn\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/1080-Park-Place-Shakopee-Minn..png\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"1080 Park Place, Shakopee, Minn.\" data-image-description=\"&lt;p&gt;1080 Park Place, Shakopee, Minn.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;1080 Park Place, Shakopee, Minn.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/1080-Park-Place-Shakopee-Minn..png?w=800\" loading=\"lazy\" class=\"wp-image-1004177603 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/1080-Park-Place-Shakopee-Minn..png\" alt=\"1080 Park Place, Shakopee, Minn.\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/1080-Park-Place-Shakopee-Minn..png 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/1080-Park-Place-Shakopee-Minn..png?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/1080-Park-Place-Shakopee-Minn..png?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004177603\" class=\"wp-caption-text\">1080 Park Place, Shakopee, Minn.<\/p><\/div>\n<p>Meritex, a private real estate investment and management company, has just added a Class A, industrial facility in Shakopee, Minn., to its portfolio, for an undisclosed amount. The company tapped Senior Asset Manager Steve Dorff to oversee operations at the new property.<\/p>\n<p>1080 Park Place offers 299,600 square feet of industrial space and\u00a0features 38-foot clear heights, an EFSR sprinkler system, trailer parking and 12 dock-high doors. The Opus Group built the facility was built in 1993, on a 16.5-acre lot. Since its completion, the property has changed hands two times, the last transaction having closed last year for $12.8 million, according to PropertyShark data. Two tenants are currently anchoring the site, which is at\u00a0100 percent occupancy.\u00a0<\/p>\n<p>Dan Williams, Meritex\u2019s chief officer of investments, said in prepared remarks that Shakopee is an investment market, which the company has been targeting for years. The acquisition of 1080 Park Place brings Meritex\u2019s Minneapolis portfolio to a total of 1.9 million square feet. \u00a0<\/p>\n<p>Meritex has also been expanding in Houston and Phoenix. At the beginning of the year, the company bought a 220,463-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/meritex-buys-phoenix-industrial-asset-for-26m\/\">industrial building<\/a> for $26 million.<\/p>\n<p><em>Image courtesy of Meritex<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>1080 Park Place in Shakopee, Minn., was built in 1993 by The Opus Group and boasts full occupancy. Steve Dorff, senior asset manager with Meritex, will manage the property. <\/p>\n","protected":false},"author":1064,"featured_media":1004177603,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21748,13,36076,21742],"tags":[33450,35670,33142],"class_list":["post-1004177600","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-industrial","category-midwest","category-minneapolis-st-paul","category-latest","tag-dan-williams","tag-meritex-enterprises","tag-the-opus-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Meritex Snags 300 KSF Industrial Property - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/meritex-snags-300-ksf-industrial-property\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Meritex Snags 300 KSF Industrial Property\" \/>\n<meta property=\"og:description\" content=\"1080 Park Place in Shakopee, Minn., was built in 1993 by The Opus Group and boasts full occupancy. Steve Dorff, senior asset manager with Meritex, will manage the property.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/meritex-snags-300-ksf-industrial-property\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-05-19T16:26:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T01:59:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/1080-Park-Place-Shakopee-Minn..png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Gabriel Circiog\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/meritex-snags-300-ksf-industrial-property\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/meritex-snags-300-ksf-industrial-property\\\/\"},\"author\":{\"name\":\"Gabriel Circiog\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/fea14f28ef4cea0e4f36b0516e632ebb\"},\"headline\":\"Meritex Snags 300 KSF Industrial Property\",\"datePublished\":\"2017-05-19T16:26:58+00:00\",\"dateModified\":\"2022-12-08T01:59:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/meritex-snags-300-ksf-industrial-property\\\/\"},\"wordCount\":202,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/meritex-snags-300-ksf-industrial-property\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/05\\\/1080-Park-Place-Shakopee-Minn..png\",\"keywords\":[\"Dan Williams\",\"Meritex Enterprises\",\"The Opus Group\"],\"articleSection\":[\"Deals\",\"Finance\",\"Industrial\",\"Midwest\",\"Minneapolis-St Paul\",\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/meritex-snags-300-ksf-industrial-property\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/meritex-snags-300-ksf-industrial-property\\\/\",\"name\":\"Meritex Snags 300 KSF Industrial Property - 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