IDEMIA Identity & Security
Total Square Footage: 90,020
Acquired: March 15, 2022
Tenant Name: IDEMIA Identity & Security USA, LLC
Royal Oak Realty Trust (“Royal Oak”) is pleased to announce the completion of our latest acquisition.
On March 15, 2022, Royal Oak acquired the manufacturing and office facility of IDEMIA Identity Security USA, LLC (“IDEMIA”) located in Exton, PA, our second investment in the state of Pennsylvania. The property is located in the Philadelphia metropolitan statistical area (“MSA”), the 6 th largest MSA in the United States. The Philadelphia MSA benefits from a high volume of industrial inventory and very low vacancy, making it an excellent industrial market to invest in. IDEMIA signed a 12-year absolute net lease at closing.
The IDEMIA property sits on approximately 13.30 acres and was originally built in 1988 with an addition in 1997. It consists of 90,020 square feet, with approximately 74,020 square feet of light manufacturing space and 16,000 square feet of office. The property is “mission critical” to IDEMIA, as it serves as the only manufacturing plant of card blanks for IDEMIA within the United States and serves the company’s Identity & Security and Financial Institutions markets; core areas for IDEMIA’s business.
IDEMIA is the global leader in augmented identity and security solutions, with over 13,000 employees and serving clients in 180 countries. IDEMIA represents approximately 30% of the US secure payment card manufacturing market, as well as provides secure payment cards directly to approximately 120 financial institutions directly and approximately 1,800 indirectly through third-party aggregator partnerships. The parent entity IDEMIA Group S.A.S., based in France, is a $2.5 billion top-line company that is number one in police biometric systems, civil identity solutions, and U.S. driver’s license issuance.