After entering the Valley market last year with the purchase of an industrial project in the Deer Valley area of north Phoenix, Meritex Enterprises Inc. is now going to develop and industrial project in Chandler.
Meritex plans to develop 211KSF of light industrial space at the southwest corner of Germann and Cooper roads. The 21-acre site is north of the Chandler Municipal Airport and south of the 202 Loop. Meritex Chandler LLC paid just under $5.7M to buy the land in a cash sale.
The property was originally under contract to be sold to Metro Commercial Properties, which ended up assigning its interest to Meritex. Metro Commercial will serve as fee developer and manage the project. McCall & Associates is designing the two-building complex, which is being called Chandler Airport Center. Plans call for structures of 122KSF and 89KSF.
Construction to start second quarter 2015, with completion to follow by year-end. Nitti Graycor in Tempe will serve as contractor.
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