MICHIGAN, NEBRASKA AND GEORGIA — In a sale-leaseback transaction, MAG Capital Partners LLC has acquired three industrial properties in three states for an undisclosed price. Applegate Greenfiber, a manufacturer of insulation products for commercial and residential use, occupies the properties. The first building spans 30,000 square feet and is located at 1000 Highview Drive in Webberville, Mich. The second totals 104,930 square feet at 3421 Old Highway 8 in Norfolk, Neb. Lastly, the portfolio includes a 110,000-square-foot property at 1241 Meadowbrook Drive in Eastanollee, Ga.
Earlier this year, Industrial Opportunity Partners, a Chicago-based industrial investment firm, acquired both Applegate Holdings LLC and the assets of Greenfiber Holdings LLC to form Applegate Greenfiber Holdings LLC, which is based in Charlotte, N.C. Daniel Macks of STREAM Capital Partners represented the seller. Led by Dax Mitchell and Andrew Gi, MAG Capital Partners is based in Fort Worth, Texas.