Phoenix Investors Expands its Real Estate Portfolio
In a significant move for growth, Phoenix Investors has acquired two large industrial properties that together add 2.3 million square feet and over 145 acres to their already substantial portfolio. This strategic acquisition enhances their position in the commercial real estate market by providing additional space for operational needs.
Strategic Locations for Growth
These newly acquired properties are situated in prime areas, specifically at 3280 South Clement Avenue and 840 Huron Boulevard. Previously owned by FCA US LLC, a subsidiary of Stellantis, these sites will serve as vital components of the Phoenix Investors portfolio. According to Anthony Crivello, Executive Vice President and Managing Director of Phoenix, the company's aim is to maintain a robust presence in the industrial sector with properties that are strategically located.
Details of the Properties
The Milwaukee property boasts a massive footprint of 1,050,000 square feet on 43.53 acres. It features essential amenities including parking, restrooms, and access to a rail spur, making it highly desirable for industrial operations. With clear heights of up to 21 feet and multiple loading docks, this property is equipped for diverse industrial use.
Marysville Property Features
On the other hand, the Marysville property offers an even larger space, extending to 1,250,000 square feet over 101.5 acres. This site comes with ample parking capabilities, expandable trailer facilities, and direct access to CSX rail, which adds to its functionality. Notably, it supports clear heights up to 36 feet and includes numerous loading docks and grade doors to facilitate efficient operations.
Collaboration with Stellantis
The collaboration with Stellantis has proven fruitful, with both properties being fully leased at the time of the acquisition. This partnership reflects a shared vision for revitalizing industrial spaces and generating economic activity in the regions served.
About Phoenix Investors
Phoenix Investors is a recognized leader in the revitalization of former manufacturing facilities across the United States. The company specializes in acquiring, renovating, and leasing these properties to meet the growing demands of various industries. With a portfolio that now exceeds 80 million square feet, Phoenix aims to create dynamic solutions that benefit both their clients and the communities they operate in.
Frequently Asked Questions
What types of properties does Phoenix Investors acquire?
Phoenix Investors focuses on acquiring former manufacturing facilities and industrial properties to renovate and lease.
Where are the newly acquired properties located?
The new properties are located in Milwaukee, WI and Marysville, MI.
What are the dimensions of the acquired industrial properties?
The Milwaukee property has 1,050,000 square feet, while the Marysville property has 1,250,000 square feet.
Who were the brokers for this acquisition?
The acquisition was brokered by Tony Avendt and Jeff Hoffman of Cushman & Wakefield.
How does Phoenix Investors impact the communities they serve?
By revitalizing properties and generating economic growth, Phoenix Investors positively transforms the communities in which they operate.
