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MAG Capital Partners Acquires 425K-SF Industrial Headquarters in Indiana
MAG Capital Partners has acquired a 425,000-square-foot industrial headquarters in New Castle, Indiana, through a sale-leaseback transaction with New Castle Stainless Plate.
Located at 549 W State Road 38, the extensive property includes more than a dozen buildings spread across nearly 128 acres. The facility is a hub for the manufacturing of stainless plate products, serving industries such as aerospace, energy, chemical processing, and heavy equipment manufacturing.
Deutsche Bank provided financing for the acquisition. Stream Capital Partners’ Krupa Shah and Phil DiGennaro represented the seller in the transaction.
“We actively invest in industrial properties and strong manufacturers with experienced leadership,” said Dax T.S. Mitchell, Principal at MAG Capital Partners.
The property features 127 bays and is situated less than 15 minutes from Interstate 70, a major east-west highway. Its proximity to Indianapolis provides seamless access to north-south transportation routes, rail infrastructure, and multimodal logistics.
Industry professionals can hear from Carter Andrus, Chief Operating Officer of Prologis, during a keynote interview at Connect Industrial Midwest. The event is scheduled for Tuesday, March 10, 2026, at Joe’s Live in Rosemont, Illinois.
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