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MichiganTexasIndustrial

MAG Capital Partners purchases three-building industrial portfolio in Michigan, Texas and Virginia

November 18, 2020
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In a sale-leaseback-structured transaction, Fort Worth, Texas-based MAG Capital Partners, LLC, acquired a three-building, 256,258-square-foot industrial manufacturing portfolio that spans about 20 acres across locations in Texas, Michigan and Virginia.

The facilities are occupied by Huntington Solutions, a product solutions manufacturer specializing in high-volume standardized packaging, cold chain systems, engineered OEM components and customized construction materials. 

The seller, Mill Point Capital, is a New York City-based private equity firm that purchased a predecessor of Huntington Solutions in 2016. Huntington Solutions will continue to occupy its facilities at 1323 Moore Street, in Greenville, Michigan; 604 and 606 17th Street, in Radford, Virginia.; and 1278 Highway 71 West, in Bastrop, Texas, under long-term net leases.

“Despite headwinds in the general market brought on primarily by COVID and the turbulent election cycle, general manufacturing market fundamentals remain solid,” said MAG Capital Partners Principal Dax T.S. Mitchell.

MAG Capital Partners was represented by Mary Garnett and Jim Tuesley of Barnes & Thornburg LLP. Mill Point Capital was represented by J.C. Asensio, Andrew Sandquist, Briggs Goldberg and Tyrell McGee with Newmark’s Chicago office.

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BastropGreenvilleindustrialMAG Capital PartnersMichiganTexas
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