MAG Capital acquires Omaha office and industrial property

MAG Capital Partners has acquired an Omaha, Nebraska-based office and industrial property in a sales-leaseback transaction.

MAG Capital Partners has acquired an Omaha, Nebraska-based office and industrial property in a sales-leaseback transaction. The seller was Transom Capital Group. No financial terms were disclosed. The property serves as the headquarters for Scantron’s technology solutions department.

PRESS RELEASE

OMAHA, NEBRASKA (June 2020)—Fort Worth, Texas-based MAG Capital Partners, LLC, has acquired a 47,184-square-foot, single-tenant office and industrial property located at 2020 South 156th Circle, Omaha, Neb., in a sale-leaseback transaction.

Led by principals Dax T.S. Mitchell and Andrew Gi, MAG Capital Partners purchased the fully-leased property, which serves as the HQ for Scantron’s Technology Solutions department, from Los Angeles-based private equity firm, Transom Capital Group. Scantron Corporation, an occupant of the building for over a decade, was acquired by Transom in early December 2019.

Scantron is a global leader in assessment and technology solutions for the education, certification, government and commercial industries. Operating in 98 percent of American schools, the company is best known for its machine-readable paper forms on which students mark answers to multiple-choice test questions and the optical mark recognition (OMR) and imaging scanners that read them.

“Scantron is an iconic brand with diversified physical and digital products,” said Mitchell.

2020 South 156th Circle is situated on 3.6 acres less than a half-mile from Omaha’s largest development site, Heartwood Preserve, a 500-acre mixed-use, urban development with open-air retail, hotel, residential, office and public space considered the “New Downtown” of West Omaha.
Built in 1987, two thirds of the property is utilized as flex office with the remainder providing warehouse/manufacturing space. There are two dock doors and 20 to 24 ft. clear heights in the warehouse.

The acquisition is MAG Capital Partners’ first in Omaha, the most populous city in Nebraska and home to four Fortune 500 headquarters, as the company continues to expand its portfolio in a sector that is proving to be a favored investment vehicle during the coronavirus pandemic. MAG Capital Partners also owns a commercial property in Lincoln, Nebraska, which it acquired in 2018.

In recent months, MAG Capital Partners has closed on a sale leaseback of a food manufacturing facility in Rochester, N.Y., a 139,000-square-foot industrial portfolio tenanted by an aerostructure manufacturing company in Fort Worth, Texas, and a 91,000-square-foot sale leaseback of a light industrial property in Des Moines, Iowa.

“During a time when the coronavirus has created instability and volatility in the market, MAG Capital Partners has been laser focused on acquiring assets with fundamental roles in any economy,” said Mitchell.

Nick Foster, a director with JLL, represented the seller. Mary Garnett and Jim Tuesley of Barnes & Thornburg LLP represented MAG Capital Partners.

About MAG Capital Partners
MAG Capital Partners, LLC, is a private commercial real estate development and investment firm formed in 2015 by Dax T.S. Mitchell and Andrew Gi. Based in Fort Worth, Texas, the company owns a portfolio primarily comprising single-tenant industrial and other income-producing commercial properties throughout the United States.