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11/30/22
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In a sale leaseback transaction, MAG Capital Partners LLC acquired several industrial properties totaling 66.7k sf along I-27 that occupy an entire city block in central Lubbock, TX. Home to Lubbock Electric Co, the site comprises 1108 34th St and 1107, 1109, and 1123 33rd St.
Dax T.S. Mitchell, principal of MAG Capital Partners, commented, “We are attracted to the City of Lubbock’s economic development initiatives and its diversified manufacturing base, coupled with the opportunity to acquire infill industrial real estate.”
Northmarq’s Scott Briggs and David Read represented the seller, a private investor who concurrently purchased Lubbock Electric to expand the family-owned business that was founded in 1944.
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