M id A tlantic Real Estate Journal — DelMarVa — Virginia — December 18 - January 14, 2020 — 3A V irginia


Mill Point Capital sells 256,258 s/f industrial manufacturing portfolio MAG Capital Partners acquires three-building industrial portfolio

IRGINIA, TEXAS AND MICHIGAN — In a sale-leaseback- structured transaction, Fort Worth, Texas-based MAG Capital Partners, LLC, ac- quired a three-bui lding, 256,258 s/f industrial man- ufacturing 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 cus- tomized construction mate- rials. The seller, Mill Point Capi- tal, 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, Bas- trop, 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, gen- eral manufacturing market fundamentals remain solid,” said MAG Capital Partners Principal Dax T.S. Mitchell. “The purchase is MAG Capi- tal Partners’ latest as we con- tinue to grow our net-leased industrial portfolio of invest- ments across the country.” “We are delighted to close on another acquisition in a sector of the market that is showing exceptional resil- iency during unusual times,” said AndrewGi, MAGCapital 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.” MAG Capital Partners, led by principals Dax T.S. Mitchell and Andrew Gi , was represented by Mary Garnett and Jim Tuesley of Barnes & Thornburg LLP . Mill Point Capital was represented by J.C. Asensio, AndrewSandquist, Briggs Goldberg and Tyrell Mc- Gee with Newmark’s Chi- cago office. MAREJ V

604 and 606 17th Street, Radford, V A


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