LANCASTER, OHIO — MAG Capital Partners LLC has acquired a 483,048-square-foot industrial property in Lancaster, about 30 miles southeast of Columbus. The purchase price was undisclosed. MAG Capital Partners acquired the facility in a sale-leaseback transaction with the tenant, The Babcock & Wilcox Co., a fully owned subsidiary of the publicly traded energy and environmental technologies giant Babcock & Wilcox Enterprises Inc.
Located at 2600 E. Main St., the property primarily supports Babcock & Wilcox’s thermal business and is the company’s largest manufacturing and production facility. Built in 1949, the property includes three buildings on 51 acres. Mary Garnett and Jim Tuesley of Barnes & Thornburg LLP represented MAG Capital Partners in the transaction. Gary Gladder of Cresa represented Babcock & Wilcox. Led by Dax Mitchell and Andrew Gi, MAG Capital Partners is a Fort Worth, Texas-based real estate investment firm.