Meritex Appoints New President and CFO

Tom Hotovec to become president; Mark Spotts named CFO

MINNEAPOLIS--(BUSINESS WIRE)--The Meritex Company has elected its next generation of senior leaders.

The Meritex Board elected Tom Hotovec president. Tom has worked as CFO at Meritex since 2004, managing the company’s financial condition and refining its capital structure in support of its real estate growth strategy.

Mark Spotts will take over Tom’s role as CFO. Mark joined Meritex in June 2020 as vice president of finance and capital markets. For six years prior, Mark worked in senior financial and accounting capacities for a public REIT which is focused on industrial real estate.

“Building from within is the pathway to our future and ensures the continuity of critical elements we hold dear: our people, our values, and our culture,” says Harry G. McNeely, III (Paddy), CEO of Meritex.

Tom Hotovec and Mark Spotts will assume their new roles effective October 2021.

Looking forward in 2023, Paddy McNeely, the third generation of his family to lead the company, will transition to a new role as executive board chair.

“Through diligence and planning, we are set up for continued success,” adds McNeely. “Much of this success is attributable to building our organization by developing our people. My goal is to ensure we will continue building and growing our company, our people, and our culture in the decades ahead.”

Presently, Meritex leases warehouse space to approximately 450 tenants in nine markets in the U.S. Meritex has a portfolio of 11.5 million square feet in 102 properties.

About The Meritex Company

The Meritex Company is the expert in putting properties and people together, offering the flexibility and innovation of a family-owned company, with the discipline and governance of a much larger business. With more than a century of experience providing light industrial real estate to companies at every stage of their growth, Meritex offers spaces that allow businesses to grow, evolve, and redefine themselves as needed. Meritex owns, develops and manages approximately 11.5 million square feet of institutional grade, multi-tenant space made up of more than 100 properties, ensuring that each is capable of meeting the demands of its dynamic tenant base. The broad selection in nine markets – Atlanta, Charlotte, Columbus, Dallas, Houston, Indianapolis, Kansas City, Minneapolis-St. Paul and Phoenix – means companies will find the right place to take care of business, while receiving responsive service and great solutions for their space needs, now and into the future. The Meritex Company is headquartered in Minneapolis.