Total Square Footage: 120,000
Acquired: November 10, 2020
Tenant Name: Kele, Inc.
Royal Oak Realty Trust (“Royal Oak”) is pleased to announce the completion of our latest acquisition.
On November 10, 2020, Royal Oak acquired the headquarters and U.S. distribution facility of Kele, Inc. (“Kele”) in Memphis, TN. The property is located in the Northeast Memphis submarket. The property offers excellent access to major transit corridors such as I-40 and Highway 64. The property has 10.5 years of remaining lease term.
The building was a build-to-suit for Kele in 1999 and they have occupied the property ever since. The 120,000 square foot facility consists of a 60,000 square foot two-story office in the front of the building and 60,000 square feet of assembly and warehouse space with 28’-32’ clear heights, custom conveyor and racking systems, 8 loading docks, and 2 drive-in doors on the rear-end of the building. 100% of the building, both the office and warehouse, are heated and air-conditioned. Furthermore, the property sits on approximately 9.60+/- acres, allowing for future expansion to support future growth.
Founded in 1983, Kele is the leading distributor of building automation peripherals and controls solutions. Kele provides more than 11,000 customers world-wide access to two million stocked parts, 125,000 SKUs in 24 product categories from over 300 leading suppliers, including manufacturers of various sensors, flow meters, transmitters, switches, gauges, valves, actuators, relays, controllers, enclosures, tools, lighting, power supplies and numerous other products critical to the proper functioning of commercial building automation systems.