Minneapolis’ Meritex Company elects

The Meritex Company in Minneapolis has elected its next generation of senior leaders. 

The Meritex Board elected Tom Hotovec president. Hotovec has worked as chief financial officer 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 Hotovec’s role as chief financial officer. Spotts joined Meritex in June 2020 as vice president of finance and capital markets.  For six years prior, he worked in senior financial and accounting capacities for a public REIT focused on industrial real estate. 

Hotovec and 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.

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.