Total Square Footage: 42,000
Acquired: June 7, 2021
Tenant Name: Zentech Manufacturing, Inc.
Royal Oak Realty Trust (“Royal Oak”) is pleased to announce the completion of our latest acquisition.
On June 7, 2021, Royal Oak acquired the design and manufacturing facility of Zentech Manufacturing, Inc. (“Zentech”) located in Windsor Mill, MD. This is Royal Oak’s second investment in Maryland. The property is located in the Baltimore metropolitan statistical area (“MSA”) and offers excellent immediate access to major transit corridors I-70 and I-695. The tenant entered into a 12-year absolute net lease effective at closing.
The property was built in 2002 as a 42,000 square foot flex facility with a clear height of 18 feet throughout. Within the building, there exists significant mission-critical equipment related to the manufacturing of printed circuit boards (“PCBs”). The investment in equipment at this facility demonstrates Zentech’s commitment to the property, as moving or replicating the business specific equipment elsewhere would be cost prohibitive. The property sits on approximately 3.93 acres.
Zentech is a highly certified, premier electronics contract manufacturing company offering high speed, precision assembly of PCBs since 1998. They provide a full range of PCB design, assembly, and testing services. Zentech’s customers include 21 of the top 25 defense contractors in the US., including Northrup Grumman, L3Harris, Raytheon, among others, with approximately 65% of the tenant’s revenue coming from Royal Oak’s facility. Zentech is a portfolio company of a New York based private equity.