LCN Capital Partners Sells Wisconsin Portfolio

The Vintage Parts portfolio. Image courtesy of Avison Young

LCN Capital Partners has sold a 16-building portfolio totaling 680,000 square feet in Beaver Dam and Columbus, Wis. The buyer, an undisclosed REIT, acquired the assets for $38.5 million. Avison Young advised the seller. All properties are fully leased on a long-term basis to Vintage Parts.

LCN had acquired the portfolio from Vintage Parts in 2014, in a sale-leaseback transaction. The $35 million purchase was, at the time, one of Wisconsin’s top 10 investment deals.

The portfolio consists of:

• the six-building, 394,000-square-foot Vintage Parts corporate campus located at 120 Corporate Drive in Beaver Dam, Wis.
• the 208,000-square-foot Green Valley Campus, a seven-building asset located at 1005 Green Valley Road in Beaver Dam, Wis.
• the Columbus Campus, a three-building property totaling 79,592 square feet at 200 Robbins Road.

The two Beaver Dam campuses are 17 miles from Columbus and within 45 miles of Madison, Wis., while the Columbus property is near the intersection of U.S. Route 151 and Highway 16, providing easy transportation across the state.

Avison Young Principals Timothy Hall and James Hanson negotiated on behalf of the seller, while Executive Director David Krasnoff assisted the investors with acquisition financing.