LITCHFIELD, MINNESOTA and MONROE, WISCONSIN (January 2023)—MAG Capital Partners, LLC acquired two industrial facilities totaling 205,410 square feet in a sale leaseback with Monroe Truck Equipment, Inc., an industry leading truck and trailer equipment manufacturer, upfitter and distributor servicing commercial and municipal users.
61381 US-12 in Litchfield, Minnesota, is a 162,170-square-foot industrial property situated on 48.41 acres in Meeker County, west of Minneapolis. 628 W 10 1/2 Street in Monroe, Wisconsin, is a 43,240-square-foot commercial facility on 12.51 acres in Green County, equidistant to Madison, Wisc., and Rockford, Ill.
Founded in 1958 in Wisconsin, Monroe Truck Equipment specializes in snow and ice control equipment, towing, and service, utility, dump and platform bodies, and more. In 2021, it joined the Aebi Schmidt Group, a Switzerland-based global leader in infrastructure and terrain maintenance solutions, in a move that positions the company for future growth. Monroe Truck Equipment offers a wide range of products and services including fire apparatus equipment, armored vehicles, steel fabrication, welding/repair, and truck equipment distribution and installation, among others. In addition, it manufactures snow and ice control products for nationwide distribution and maintains one of the largest parts/pickup accessory departments in the Midwest.
“We direct our investments into U.S. industrial real estate niche markets occupied by manufacturing companies such as Monroe’s highly specialized work truck sector,” said Dax T.S. Mitchell, principal of Dallas-based MAG Capital Partners. “Despite short-term capital markets outlooks and monetary tightening, we believe U.S.-based manufacturing remains a powerhouse and will become more and more dominant in the years to come.”
Daniel Macks and Jonathan Wolfe of STREAM Capital Partners represented Monroe Truck Equipment in the transaction.
About MAG Capital Partners, LLC
Formed in 2015 by Dax T.S. Mitchell and Andrew Gi, Dallas-based MAG Capital Partners, LLC invests in industrial real estate and small to medium cap operating companies throughout the continental United States. For more information visit www.magcp.com.