Phoenix Investors Expands Portfolio with New Industrial Campus
Phoenix Investors Expands with New Industrial Campus
An affiliate of Milwaukee-based commercial real estate firm Phoenix Investors, recognized as a national leader in revitalizing former manufacturing facilities, has announced a significant new acquisition. They have acquired a vast 56-acre multi-building industrial campus that was formerly owned by Regal Rexnord, a notable name in the engineering sector.
Details of the Acquisition
The industrial campus covers an impressive 750,000 square feet and is now part of Phoenix's ever-growing portfolio, which surpasses a staggering 80 million square feet across the nation. Located strategically along West Greenfield Avenue, this site boasts desirable features including many dock doors, heights soaring up to 47 feet, and a robust heavy power infrastructure.
A Prime Industrial Space
The campus consists of nine buildings, with each structure constructed between 1920 and 1973. It provides a spacious, contiguous area ideal for manufacturing and distribution. The premises also feature expansive crane bays, which are of great benefit for industrial operations. Security is prioritized, with a fully fenced site that offers flexible floor plans capable of accommodating users needing as little as 15,000 square feet.
Community Engagement and Future Developments
The location of the campus is particularly advantageous, with proximity to I-94, making it a prime candidate for large-scale operations. Additionally, it offers surplus land that presents exciting possibilities for new residential and commercial developments. Preliminary discussions between Phoenix and local authorities signal potential growth for the community.
Revitalization Commitment
Frank P. Crivello, the Founder and Chairman of Phoenix Investors, expressed a strong commitment to transforming the Regal Rexnord property in a way that honors its industrial roots while exploring diverse potential uses that would benefit the community. He remarked, "The property is in a prime location and is suitable for mixed-use redevelopment. We're confident its revitalization will bring positive progress."
Financial Backing and Support
To facilitate this significant acquisition, Phoenix enlisted the support of financial experts, including Jeff Cartwright, Senior Vice President and Regional Manager of First Financial Bank, who played a pivotal role in providing the necessary senior financing.
About Phoenix Investors
Phoenix Investors excels in the acquisition, renovation, and leasing of former manufacturing facilities throughout the U.S. Their efforts in revitalizing these spaces not only help in transforming communities but also reignite the economic engines that support them. The affiliate companies of Phoenix hold significant equity interests, amounting to approximately 80 million square feet in industrial properties spread across 27 states, ensuring they deliver a cost-effective national footprint and innovative leasing solutions for various corporations.
Frequently Asked Questions
What is the significance of the recent acquisition by Phoenix Investors?
This acquisition expands Phoenix's portfolio and enhances their ability to revitalize former industrial spaces, positively impacting local communities.
What features does the new industrial campus offer?
The campus provides various features such as extensive dock doors, high ceiling heights, and significant power infrastructure.
How does this acquisition benefit the local community?
The revitalization plans include potential mixed-use developments that could create jobs and stimulate local economic growth.
Who provided financing for this acquisition?
The financing was provided by Jeff Cartwright from First Financial Bank, supporting the acquisition's financial needs.
What is the mission of Phoenix Investors?
Phoenix Investors aims to transform former manufacturing facilities into productive spaces that enhance the economic vitality of the communities they serve.
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