Total Square Footage: 195,810
Acquired: December 22, 2021
Tenant Name: Sportech, LLC
Royal Oak Realty Trust (“Royal Oak”) is pleased to announce the completion of our latest acquisition.
On December 22, 2021, Royal Oak acquired the manufacturing and warehouse facility of Sportech, LLC (“Sportech”) located in Elk River, MN. The property is located in the Minneapolis/St. Paul metropolitan statistical area (“MSA”), the 16 th largest MSA in the United States. There are approximately 12-years remaining on the absolute net lease at closing.
The Sportech property is located 1.2 miles from Sportech’s headquarters and was originally developed as a 105,000 square foot build-to-suit for Sportech in 2016. The building was expanded by 90,810 square feet in 2021 to meet Sportech’s rapidly growing customer demand. The 195,810 square foot expanded facility features 32-foot clear height, 33 dock high doors, 2 drive-in doors, 289 car parking spaces, an ESFR sprinkler system, 12.9% office finish, board and conference rooms, locker rooms with showers, a cafeteria, and a 64-person training room.
Sportech, founded in 1994, is a leading designer, manufacturer, and assembler of cab components and assemblies for a wide range of original equipment manufacturing customers. The Company sells door assemblies, windshields, roofs, windows, and other cab components to customers across the powersport, golf & turf, industrial, and agriculture end markets. Major customers include Polaris, BRP (Sea-Doo, Ski-Doo), Honda, Yamaha, and John Deere. Sportech employs 350 team members across its three facilities. Monomoy Capital Partners acquired Sportech in December 2019. Founded in 2005, Monomoy Capital Partners is a private investment firm with over $2.3 billion in committed capital across a family of investment funds.