Total Square Footage: 321,360
Acquired: November 18, 2021
Tenant Name: Iron Mountain Information Management, LLC
Royal Oak Realty Trust (“Royal Oak”) is pleased to announce the completion of our latest acquisition.
On November 18, 2021, Royal Oak acquired the four-property warehouse portfolio of Iron Mountain Incorporated (“Iron Mountain”). This transaction is the largest acquisition in the history of Royal Oak. The properties are located in the Detroit (Michigan) and Toledo (Ohio) metropolitan statistical areas (“MSA”). Iron Mountain signed four separate 10-year absolute net leases at closing.
The properties include 38300 Plymouth Road (Detroit MSA), which consists of a 126,646 square foot warehouse facility built in 1997 on 6.95 acres. The property is less than 2 miles from the I-96 and I-275 junction and within 25 miles of both the Detroit Metro and Willow Run (Cargo) Airports. The property is used for secure record storage.
24300 & 24285 Wahl Court (Detroit MSA) consists of two warehouse facilities totaling 131,700 square feet built in 1986 and 1999, respectively, on 5.87 total acres. This site benefits from its strategic location near a significant population base, key infrastructure, and long-time customers. The property serves as Iron Mountain’s largest and most active property on the eastside of Detroit and is used for the storage of documents, records, and other important products.
1985 Bart Avenue (Detroit MSA) consists of a 23,288 square foot warehouse facility constructed in 2000 on 1.1 acres. The property site is located less than 2 miles from the major I-75 and I-695 junction. The property is used for record storage.
3660 South Avenue (Toledo MSA) consists of a 39,726 square foot warehouse facility built in 1964 on 2.79 acres. The property is used for the storage of documents, records, and other important products.
Iron Mountain (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 85 million square feet across more than 1,400 facilities in over 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.