MAG Capital Partners, LLC has completed its latest purchase, a 483,048-square-foot industrial property in Lancaster, Ohio.
The facility is occupied by The Babcock & Wilcox Company, a fully-owned subsidiary of the publicly traded energy and environmental technologies giant, Babcock & Wilcox Enterprises, Inc.
Located at 2600 E. Main St. in Lancaster, 20 miles outside of Columbus, Ohio, the property primarily supports Babcock and Wilcox’s thermal business and is the company’s largest manufacturing and production facility. Originally built in 1949, it is situated on a 51.4-acre site and comprises three facilities.
The property sits along State Highway 22 in a mixed-use area of commercial, retail, agricultural and residential, close to Fairfield County Airport.
It is among many industrial assets MAG Capital Partners has acquired this year from industry-leading companies positioned for exponential growth as the global economy reopens and confronts new challenges of post-pandemic demand. Since the onset of the pandemic, MAG Capital Partners has expanded its footprint to key markets including New York, California, Arkansas, Michigan and Virginia with companies leading development in essential industries.
Mary Garnett and Jim Tuesley of Barnes & Thornburg LLP represented MAG Capital Partners in the transaction. Gary Gladder of Cresa represented Babcock & Wilcox in the sale and leaseback of 2600 E. Main Street.