Riddell Sports Group, Inc.

Riddell Inc

Stats:

7501 Performance Ln, North Ridgeville, Ohio
Total Square Footage: 347,205
Acquired: April 16, 2024
Tenant Name: Riddell Sports Group, Inc.

On April 16, 2024, Royal Oak acquired the manufacturing and distribution facility of Riddell Sports Group, Inc. (“Riddell”) located in North Ridgeville, Ohio, within the Cleveland, Ohio, MSA. The Cleveland MSA is the 33rd largest in the country. The property was built in 2017 as a state of the art, built-to-suit structure for Riddell and has been utilized in that capacity since completion. As a part of this transaction, Royal Oak assumed the in-place mortgage financing on the property. The loan provides an attractive 4.04% fixed interest rate and a 25-year amortization through the maturity date of April 2027. There are approximately 13 years remaining on the lease at the time of purchase.

The mission-critical building sits on 38.0 acres and was constructed with tilt-up concrete and interior steel framing. This facility is responsible for the assembly of on-field football helmets, custom shoulder pads, equipment reconditioning services and team laundry. The facility also manages the production of full-size collectible football helmets and distribution of football gear and apparel. The facility features a fitness center, large break and training rooms, additional storage, shipping/receiving access, and ample parking.

Riddell is a premier designer and developer of football helmets, protective sports equipment, head impact monitoring technologies, apparel, and related accessories. A recognized leader in helmet technology and innovation, Riddell is the leading manufacturer of football helmets and shoulder pads, and a top provider of reconditioning services (cleaning, repairing, repainting, and recertifying existing equipment).

https://riddell.com/