Dallas-based MAG Capital Partners, LLC acquired its second industrial property in Elkhart, Indiana, completing a sale leaseback with Colbert Packaging Corp.
1511 West Lusher Avenue is a 105,548-square-foot industrial property on approximately 5.43 acres at the crossroads of three of the nation’s most important arteries – Interstates 80, 90 and 94. Straddling America’s steel belt and agricultural heartland, Indiana offers unrivaled logistical advantages to businesses that move products by water, rail and road.
Founded in 1959, Colbert Packaging is a dynamic high-volume producer of sustainable paper-based packaging, serving the pharmaceutical, healthcare and consumer goods industries. The company has made major capital investments in state-of-the-art equipment to meet the stringent packaging quality requirements of its pharmaceutical and consumer customers.
With a second facility in Kenosha, Wisconsin, Colbert Packaging is positioned to further grow its production capacity to meet its long-term strategy and further support customer demand.
MAG Capital Partners also owns 5155 Verdant Drive in Elkhart, a flex industrial facility tenanted by a global market leader in products for use in recreational vehicles, trucks and premium cars, pleasure and workboats. Its portfolio includes investments in both operating companies and net-leased industrial properties throughout the United States.
Jonathan Wolfe, Daniel Macks and Jeff Lizzo of STREAM Capital Partners represented Colbert Packaging Corp. in the transaction.
