MAG Capital Partners acquired an approximately 425,000-square-foot industrial headquarters in New Castle, Indiana, via a sale-leaseback-structured transaction with New Castle Stainless Plate.
Comprising more than a dozen buildings on nearly 128 acres, the 549 W State Road 38 facility specializes in the manufacture of stainless plate products, serving a diverse range of industries including aerospace, energy, chemical processing and heavy equipment manufacturing. The company offers custom dimensions and stainless steel grades to meet the specific needs of various industrial applications.
The property, featuring 127 bays, is less than 15 minutes from I-70, a major east-west highway connecting central Utah to Baltimore, and proximate to Indianapolis, the “Crossroads of America” and nexus for north-south transportation, rail infrastructure and multimodal access.
Deutsche Bank provided financing for the acquisition. Stream Capital Partners’ Krupa Shah and Phil DiGennaro advised the seller.
