Dallas-based MAG Capital Partners has completed a long-term sale leaseback with Great Frontier Holdings, acquiring a pair of adjacent industrial beverage manufacturing buildings in Eugene’s Whit neighborhood that have anchored the beverage company’s craft beer, hard seltzer, and cider production for more than two decades — marking the net lease investor’s first foothold in Oregon.
The 57,000-square-foot, two-property portfolio spans 220 Blair Boulevard, a 1.4-acre facility housing a brewery, warehouse, and materials storage serving all of Great Frontier’s beverage lines, and 272 Van Buren Street, a 0.55-acre parcel directly across the street that contains brewery production equipment and an indoor tasting room with garden area, according to an announcement from the firm about the deal. Financial terms were not disclosed. Mark Hefner and Zack Danner in Marcus & Millichap’s Sacramento office advised on the transaction, and Vishal Vinjani and Benjamin Markiles of Los Angeles-based Resolute Structured Capital arranged debt financing through Deutsche Bank.
Under the sale leaseback structure, Great Frontier Holdings immediately unlocks capital tied up in owned real estate while continuing to operate both facilities under a long-term lease — a transaction format that MAG Capital has deployed repeatedly across its national industrial portfolio, targeting American manufacturers that prefer to redeploy property equity into their core operations.
“This portfolio represents our first acquisition in Oregon, which consistently has strong economic drivers and has been on our shortlist for several years,” Dax T.S. Mitchell, principal at MAG Capital Partners, said in a news release. “These properties, in particular, have been a part of the culture and community of Eugene’s Whit neighborhood for over two decades. We look forward to many years of stewardship and further investment in both Oregon and the Pacific Northwest region.”
Great Frontier Holdings is the Eugene-based beverage conglomerate that emerged from the merger of Ninkasi Brewing — one of Oregon’s most established craft beer producers, founded in Eugene in 2006 — with Wings & Arrow, a multi-brand beverage company. The combined entity has since added Ecliptic Brewing and, in early 2026, acquired Washington-based Incline Cider and San Juan Seltzer to expand its portfolio, making Great Frontier one of the three largest independent alcohol producers in the West when including contract brewing, according to trade publications. The Blair Boulevard and Van Buren Street facilities serve as the production backbone for that growing portfolio of beer, hard seltzer, and cider brands.
The acquisition fits MAG Capital’s strategic emphasis on single-tenant, net leased industrial assets tied to domestic manufacturing and production operations. The firm has executed a series of sale-leaseback transactions including the food, beverage, and consumer goods sectors, and Mitchell’s statement signals an intent to extend that activity northward into the Pacific Northwest after adding Oregon to its acquisition map.
Eugene’s industrial market has absorbed new supply at a healthy pace, with vacancy averaging approximately 6.8 percent in 2024 and cap rates for Class A assets ranging from the mid-to-upper four percent range. Nationally, industrial vacancy held at 7.5 percent in the first quarter of 2026 but is expected to trend downward as new construction starts remain subdued and existing inventory continues to be absorbed, according to JLL’s Q1 2026 industrial market report — dynamics that have reinforced investor demand for stabilized, single-tenant industrial assets with long-term leases in place.
