Meritex announced that it bought the building at 985 Aldrin Drive from Aldrin Drive Limited Partnership. The 172,849 square-foot building was previously occupied by Uline before it moved its operations to a facility in Wisconsin, Meritex announced in a news release.
“We are excited about the addition of this property to our portfolio in the Minneapolis-St. Paul market,” Steve Dorff, property manager for Meritex in Minneapolis, said in the release. “Based on our experience in the vibrant Eagan submarket, we feel that the property is well-designed to serve a wide range of distribution businesses.”
Meritex has plans to upgrade the property with new lighting and will prepare it for multi-tenant use if needed.
The listing agent for the property is Phil Simonet at Paramount Real Estate Corporation.
Meritex bought the Aldrin building for $8.85 million, the Minneapolis/St. Paul Business Journal reported.