Hollander Sleep Products – 19th Acquisition
Royal Oak Realty Trust purchased a three-building portfolio in a sale/leaseback transaction with Hollander Sleep Products LLC as our tenant. The buildings are located in North Carolina and Iowa. The three buildings total 680,601 square feet and are situated on a total of 93.82 acres. The largest building is 503,046 square feet and is located in Henderson, NC. The two smaller buildings total 177,535 square feet and are situated on a total of 25.65 acres. The buildings are located in close proximity to each other in Maquoketa, IA.
Founded in 1953 and headquartered in Boca Raton, Florida, Hollander is a leader in the North American basic bedding segment producing bed pillows, mattress pads, comforters, foam products, and related sleep accessories. Hollander markets its products under a portfolio of highly recognizable proprietary, licensed, and retail partner brands including Ralph Lauren®, Simmons®, Beautyrest®, Nautica®, Waverly®, and Live Comfortably®. Hollander has traditionally operated within the “synthetic” products portion of the sleep products industry and operates eight facilities across North America, employing more than 1,600 people worldwide. Hollander sells its products to department stores, big box retailers, independent stores, and through catalog and internet retailers.