PHOENIX — Fort Worth, Texas-based MAG Capital Partners has acquired a cold-storage warehouse property located at 2721 W. Willetta St. in Phoenix. Lin’s Distribution Corp. sold the property for an undisclosed price in an off-market, sale-leaseback transaction.
Built in 1980 on 1.7 acres, the 38,300-square-foot facility features five truck wells and two industrial GL doors. The multi-tenant property is fully occupied by Lin’s Distribution Corp., Red Bird Farms Distribution Co. and Bon Suisse.
Concurrent with the sale, Lin’s signed a long-term leaseback deal to continue to occupy the property.
Mary Garnett and Jim Tuesley of Barnes & Thornburg LLP represented the buyer, while Oscar Lopez and Steve Lowe of Matthews Real Estate represented the seller in the transaction.