312 Commerce Place, Asheboro, NC
Total Square Footage: 204,000
Acquired: January 11, 2023
Tenant Name: Technimark LLC

On January 11, 2023, Royal Oak acquired the manufacturing and warehouse facility of Technimark LLC (“Technimark”) located in Asheboro, North Carolina. The property, situated within in the Greensboro- High Point metropolitan statistical area, is adjacent to Technimark’s global headquarters and primary manufacturing and distribution campus. The property is located in close proximity to I-73 and I-64, just north of downtown Asheboro. Technimark signed a 20-year absolute net lease at closing.

The property was constructed in 1984, with additions in 1996 and 2004, totaling 204,000 square feet with 16 docks and 1 drive-in door. The property helped consolidate Technimark’s leased warehouse spaces in the area. The facility will also serve as a manufacturing facility for their growing healthcare segment, with a multi-million-dollar investment into the facility planned over the next several years for the construction of cleanroom manufacturing space and machinery and equipment related to medical device product molding.

Founded in 1983, Technimark is a global leader and manufacturer of high-value injection-molded packaging and components serving the consumer packaging, healthcare, and industrial markets. Headquartered in Asheboro, North Carolina, Technimark has grown from a small industrial molder to a household name in the molding space with a considerable global footprint across 12 facilities in the United States, Mexico, Europe, and China. In June 2021, private equity firm Oak Hill Capital acquired a majority stake in the Company, forming a partnership with its current investors, Pritzker Private Capital (“Pritzker”). Pritzker originally partnered with Technimark in 2014.