MAG Capital Partners acquires three-building industrial portfolio

Virginia, Texas and Michigan ­— In a sale-leaseback-structured transaction, Fort Worth, Texas-based MAG Capital Partners, LLC, acquired a three-building, 256,258 s/f industrial manufacturing portfolio that spans approximately 20 acres across locations in Virginia, Texas and Michigan. The facilities are occupied by Huntington Solutions, a full-spectrum product solutions manufacturer specializing in high-volume standardized packaging, innovative 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 located at 604 and 606 17th Street, Radford, VA; 1278 Highway 71 West, Bastrop, Texas; and 1323 Moore Street, Greenville, Mich., 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. “The purchase is MAG Capital Partners’ latest as we continue to grow our net-leased industrial portfolio of investments across the country.”

“We are delighted to close on another acquisition in a sector of the market that is showing exceptional resiliency during unusual times,” said Andrew Gi, MAG Capital Partners principal. “Strong fundamentals point to future stability and growth in the market and we remain highly active in the acquisition of net-leased industrial assets with value companies such as Huntington.”

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