MAG Capital Partners, LLC completed its latest sale-leaseback transaction with the acquisition of a five-property industrial portfolio tenanted by Decatur Plastic Products.
DPP, which works in the thermoplastics sector serving industries including automotive, consumer products, medical, electronics, institutional, packaging and telecommunications, will continue to occupy the mission-critical facilities and headquarters space under long-term NNN leases.
Bradley Company’s Bill Drinkall, Brook Steed and Dave Horacek represented the buyer and the seller in the transaction.
The 252,322-square-foot portfolio includes the recently constructed 3205 N 4th Street in North Vernon, Indiana, a 100,000-square-foot warehouse and manufacturing facility situated on 24 acres. With an additional 12 acres for future planned growth, the site offers easy accessibility to Indianapolis, Cincinnati and Louisville and is on the doorstep of some of America’s largest industrial markets with Chicago, Detroit, Columbus and Cleveland all less than a four hours’ drive away.
The purchase also includes two nearby North Vernon facilities and two locations in Gadsden, Alabama.
Known as one of America’s top manufacturing states, Indiana has remained a national leader in places to do business. Other major employers in the region can be found around the globe, and some are headquartered in Southeast Indiana. The list includes some very familiar names: Cummins, Valeo, Honda, Aisin USA, Hill-Rom, Faurecia, NTN Driveshaft, Toyota Material Handling, Grote Industries, Dorel Juvenile Group, Enkei America, GECOM and Arvin Sango.
DPP has announced it will double its workforce to nearly 600 during the next five years. The company is ranked among North American leading injection molders and, in Alabama, ranked No. 2 among state job creators.
