Total Square Footage: 40,586
Acquired: September 17, 2021
Tenant Name: Telgian Holdings, Inc.
Royal Oak Realty Trust (“Royal Oak”) is pleased to announce the completion of our latest acquisition.
On September 17, 2021, Royal Oak acquired the office and warehouse flex facility of Telgian Holdings, Inc. (“Telgian”) located in Phoenix, AZ. This is Royal Oak’s first investment in Arizona, adding a 19 th state to their portfolio. The property is located in the Phoenix metropolitan statistical area (“MSA”), the 11 th largest MSA in the United States. Approximately 35 million consumers can be reached within a single day's truck ride from metro Phoenix, fueling industrial space demand among companies in the e-commerce, logistics, and construction industries. Telgian signed a 12-year absolute net lease at closing.
The property was built in 1985 on approximately 2.93 acres. Recent Improvements include a new full- building diesel generator, new rooftop HVAC units, new landscaping and drip system, upgraded parking lot lights, replaced electric hot water heaters, remodeling of executive offices, and installed slate flooring in reception area.
Founded in 1985, Telgian operates two companies: Telgian Fire Safety, fire and life safety systems testing and inspections and Telgian Engineering & Consulting, innovative engineering, design and risk mitigation solutions. Along with numerous retail partners, Telgian boasts complex, long-term, multi- discipline projects worldwide for government, hospitality, higher education, industrial manufacturing, healthcare, restaurant and food service, distribution and warehousing, and commercial properties.