MAG Capital Partners acquired 1001 State Street in Chicago Heights, Illinois, a 240,000-square-foot property that serves as the primary headquarters and manufacturing facility for Applied Acoustics International (AAI), a VisTech Manufacturing Solutions business and portfolio company of Angeles Equity Partners.
AAI is a Tier 1 supplier of noise, vibration and harshness solutions to the North American automotive industry, producing damper and barrier products for new automobiles since 1986.
Situated on 15.78 acres with on-site rail access, 1001 State Street is approximately 22 miles southwest of Gary Chicago International Airport and 40 miles south of O’Hare International Airport.
“The facility is a welcome addition to our portfolio,” said Dax T.S. Mitchell, co-founder and principal, MAG Capital Partners. “The site’s infill location and proximity to Chicago’s incredible infrastructure provides a sound foundation for our long-term investment. We are true believers in both the Midwest and the industrial middle market.”
Vishal Vinjani and Ben Markiles of Resolute Structured Capital arranged the financing for the transaction on behalf of MAG Capital Partners. Surmount’s Mark Masino represented the seller, a local family office. Financial terms were not disclosed.
