Total Square Footage: 99,000
Acquired: December 21, 2022
Tenant Name: TCI, LLC
On December 21, 2022, Royal Oak acquired the manufacturing facility of TCI, LLC (“TCI”) located in Germantown, WI. The property, situated within in the Milwaukee-Waukesha metropolitan statistical area, is in the Germantown Business Park and home to properties for companies that include Waste Management, Airgas, Wisconsin Stamping and Manufacturing, and Kohl’s. The location is in close proximity to three U.S. highways and two interstate highways. There were 14 years remaining on the absolute net lease at closing.
Situated on approximately 12.45 acres, TCI has occupied the property since it was constructed in 2014. It was originally as a 66,000 square foot facility, but expanded in 2021 with an addition of 33,000 square feet of warehouse space. The structure features reinforced concrete construction, an EPDM roof, 22- foot clear heights, eight docks, two drive-in doors, and a newly upgraded ESFR sprinkler system. The site has additional land for further expansion if needed.
Founded in 1961 as Trans-coil Inc., TCI designs and manufactures products that monitor and improve power quality and extend motor life by reducing harmonic distortion associated with variable frequency drives. Their manufacturing capabilities include magnetic and electronic product assembly expertise to support a broad suite of power quality solutions that are used in oil and gas, HVAC, water and wastewater, and general industrial end markets primarily in the U.S. They partner with electrical and machinery original equipment manufacturers to offer both stand alone and integrated harmonics mitigation and power quality solutions. TCI is a wholly owned subsidiary of Allied Motion Technologies, Inc. (“Allied Motion”). Allied Motion is a publicly traded Company (Nasdaq: AMOT) headquartered in Amherst, NY.