Business & Tech
Business Brief: Eagan's Lexington Corporate Center Filling Up
Kaman Industrial Technologies to occupy 29,673 square feet in Eagan office/warehouse facility.
Meritex announced today, the completion of a 29,673 square foot, five-year lease with Kaman Industrial Technologies Corporation at Lexington Corporate Center located at 3225 Neil Armstrong Boulevard in Eagan, Minnesota.
Kaman Industrial Technologies Corporation chose Lexington Corporate Center for its distribution and customer service center to consolidate its operations following the 2010 acquisition of Minarik Automation & Control, formerly based in Edina. Kaman Industrial Technologies Corporation is a subsidiary of Kaman Corporation which was founded in 1945.
Richard Frazier, Director of Real Estate, Facilities and Fleet at Kaman, commented, “Lexington Corporate Center is an ideal location for our new distribution hub and customer service center. It has excellent access to the freeway system expanding our ability to provide our customers with immediate access to parts and services. Meritex continues to be a great partner in this move."
Interested in local real estate?Subscribe to Patch's new newsletter to be the first to know about open houses, new listings and more.
“When Meritex purchased the property, it was 100% vacant. However, with the leasing expertise of Phil Simonet and Zach Anderson of Paramount Realty Services, the property is now 81% occupied,” commented Steve Dorff, property manager for Meritex. “We are excited to provide a leading global company with a first-class property that will streamline their distribution network.”
Meritex bought a note for the 76,520 square foot office/warehouse building in February of 2010 via an online auction process and officially acquired the property shortly thereafter through a deed in lieu of foreclosure.
