Parker Hannifin – 24th Acquisition
Total Square Footage: 75,000
Acquired: December 12, 2018
Tenant Name: Parker Hannifin Corporation
Royal Oak Realty Trust (“Royal Oak”) is pleased to announce the completion of our 24th acquisition. On December 12, 2018, we purchased the integral manufacturing facility of Parker Hannifin Corporation DBA Webster Plastics (“Parker Hannifin”) of Perinton, NY. The lease was assumed by Royal Oak and Parker Hannifin serves as the tenant.
The site contains one building totaling 75,000 square feet on 16.31 acres. The Perinton facility is mission critical and serves as the only Parker Hannifin facility manufacturing specific and essential injection molded parts for Parker Hannifin’s other product lines. The site also benefits from the low costs provided by Fairport Electric.
Parker Hannifin, headquartered in Cleveland, OH, is a Fortune 250 global leader in motion and control technologies. For over 100 years, the company has engineered the success of its customers in a wide range of diversified industrial and aerospace markets. Parker Hannifin is a publicly traded company (NYSE: PH) and has a Baa1 investment grade credit rating from Moody’s. Parker Hannifin was founded in 1917 as Parker Appliance Company, building pneumatic brake systems for trucks, trains, buses and industrial machinery, as well as leak-free fittings for the pioneers of aviation. Today, the firm is one of the largest companies in the world in motion control technologies, including aerospace, climate control, electromechanical, filtration, fluid and gas handling, hydraulics, pneumatics, process control, and sealing and shielding. Parker Hannifin employs approximately 58,000 people globally and has yearly sales in excess of $14 billion.