Metro Plastics

On July 21, 2023, Royal Oak acquired the manufacturing facility of Metro Plastics Technologies, LLC (“MPT”) located in Noblesville, Indiana. The property is situated within one of the most desirable submarkets of the Indianapolis-Carmel-Anderson metropolitan statistical area. The property serves as MPT’s sole production facility and is targeted for expansion in the next 18-36 months. MPT signed a 20-year absolute net lease at closing.

The property was constructed in 2018 as built-to-suit for MPT. The property includes 88,517 square feet of rentable area constructed on 12.56 acres. The main building is equipped with 3-phase heavy power, as well as 26-foot clear heights, four loading docks, two roll-up doors, an EPDM roof, a 6-ton crane and a 3-ton crane. The manufacturing space is air-conditioned, has a closed loop system for chilled water and a compressed air system, all set-up in a manner to allow for operational flexibility and expansion.

Founded in 1975, MPT is a custom injection molding company that has integrated the “Internet of Things” into its manufacturing operations. MPT provides value-added services including design, engineering, prototype development, in-house tool building, and other complementary solutions. MPT ships tens of millions of parts annually and currently has over 600 active unique molds in their plant. They operate the subject property on a twenty-four-hour basis with four six-hour shifts Monday through Friday. In 2022 MPT was acquired by Newbury Franklin Industrials, a Buffalo, NY-based platform company owned by Newbury Franklin.

Link:
https://metroplastics.com/