MAG Capital Partners Sells Texas Portfolio
The properties last traded in 2018.
MAG Capital Partners has sold a three-property industrial portfolio totaling 320,852 square feet across Texas to an Israel-based real estate fund. Stream Capital Partners represented the seller and procured the buyer.
The portfolio spans a combined 20 acres and includes a 136,882-square-foot facility at 11100 Plano Road in Dallas, 79,970 square feet at 1919 Ave. E. in Lubbock and a 104,000-square-foot asset at 3101 Aniol St. in San Antonio. All three facilities are fully leased to Cameron Ashley Building Products Inc., a specialty building product distributor formerly known as Guardian Building Products. The three properties are easily accessible through major thoroughfares, such as interstates 635, 27 and 35.
Investment remains active
The current seller acquired the three industrial properties as a portfolio in mid-2018.
The booming industrial sector continues to attract investors. MAG Capital Partners plans to “reallocate capital in similar ventures” across Texas, Principal Dax Mitchell said in a prepared statement. The company’s most recent purchase in the state is an industrial facility totaling 402,000 square feet in Waco, Texas. Last week, Sentinel Capital also sold a fully lease industrial complex in Allen, Texas.
