MAG Capital Partners has acquired 775 Logistics Drive, a 336,204-square-foot industrial facility in Belvidere, Illinois.
Built in 2017, it was designed for heavy manufacturing needs and features 27’-35’-foot clear heights, 24 fully equipped raised docks and three 14’x16’ grade-level doors. Upon closing, Piranha, a leading manufacturer and assembler of metal cutting, fabrication and bending equipment, signed a long-term lease for the space.
The facility is strategically located half an hour east of Rockford, Ill., between Chicago, Milwaukee and Madison, Wisc. The Rockford region is within miles of four interstates and four major railroads, and proximate to Chicago Rockford International Airport and Chicago O’Hare International Airport.
Newmark’s JC Asensio, Andrew Sandquist and Briggs Goldberg represented the seller. STAG Industrial Holdings, LLC (NYSE:STAG), in the transaction.
