Welch and Rushe
Total Square Footage: 42,784
Acquired: August 9, 2022
Tenant Name: Welch and Rushe, Inc.
On August 9, 2022, Royal Oak acquired the warehouse and office facility of Welch and Rushe, Inc. (“Welch”) located in Upper Marlboro, MD. The property is located in the Washington D.C. metropolitan statistical area. Welch signed a 10-year absolute net lease at closing.
The property is a 42,784 square foot facility built in 2005 on 5.21 acres. Building construction is concrete block with brick veneer with a 24-foot clear height, four dock high doors, and three drive in doors. The property is located just six miles from the Capital Beltway (I-495) providing convenient access to Washington D.C. and I-95, and is in close proximity to Ronald Reagan National Airport, Dulles International Airport, and Baltimore-Washington International Airport. Additionally, the property is located approximately fifty miles south of the Port of Baltimore.
Founded in 1966, Welch operates in two HVAC segments: construction and service. The service segment provides a wide range of HVAC and plumbing services along with preventative maintenance contracts. In the construction segment, customers collaborate with in-house prefabrication and coordination departments to maximize the company’s commitment to delivering the highest level of quality and accuracy. In early 2022, private equity firm Blue Wolf Capital Partners acquired Welch. Currently, Welch has more than two hundred employees and has completed work throughout Maryland, Pennsylvania, Virginia, Washington D.C, West Virginia, and other locations worldwide.