Total Square Footage: 50,000
Acquired: March 23, 2021
Tenant Name: Applied Composites Holdings, LLC
Royal Oak Realty Trust (“Royal Oak”) is pleased to announce the completion of our latest acquisition. On March 23, 2021, Royal Oak acquired the design, manufacturing and distribution facility for Applied Composites Holdings, LLC (“AC”) located in Indianapolis, IN. The property is located in the West Indianapolis submarket and offers excellent access to major transit corridors such as I-465 and I-70. The Indianapolis Metropolitan Statistical Area (“MSA”) is the 33rd-largest in the U.S. The Indianapolis MSA is recognized as a “high sufficiency” world city, a distinction given to cities with well diversified economies and ability to function independently from other larger cities. The tenant entered into a new 15-year lease agreement.
The building was originally built as a 25,000 square foot manufacturing and office facility in 1985 with a 25,000 square foot expansion in 2007. The 50,000 square foot facility consists of clean manufacturing, flex, office, and storage space with a clear height of 18’-20’ in the manufacturing area. Within the building there exists significant mission-critical equipment including a curing room, large (room size) paint booths, and a computer numerical control unit. The property sits on approximately 3.60 acres.
AC is a leader in producing complex, highly engineered composite components and assemblies. The Company’s vertically integrated platform supports the full product lifecycle from design to production to aftermarket. AC’s broad set of capabilities is supported by their strong engineering resources and strategic centers of excellence across 5 sites and over 730 employees. The Company’s growing programs and diversified blue-chip customer base (including Lockheed Martin, Northrop Grumman, Honeywell, SpaceX, Boeing Space and Boeing) across the commercial aerospace, defense and space end markets. AC, is owned by AE Industrial Partners (“AEI”), a private equity firm specializing in commercial aerospace and defense.