Phoenix Investors Acquires Former Industrial Facility
Property is primed for manufacturing, logistics, or e-commerce fulfillment.
An affiliate of Milwaukee-based commercial real estate firm Phoenix Investors, a national leader in revitalizing former manufacturing facilities, has announced a significant acquisition. This strategic purchase involves a substantial facility that adds approximately 628,000 square feet of industrial space to Phoenix's growing national portfolio.
Details of the Facility Acquisition
Once the home of Anchor Glass Container Corporation, this facility boasts 26 loading docks and heavy-duty electrical power supported by dual 7500/10000 KVA transformers. With clear heights reaching up to 32 feet, the building is versatile enough to accommodate multiple industrial users. The site is constructed to heavy industrial specifications and benefits from a dual rail spur through Norfolk Southern, making it exceptionally suitable for manufacturing operations, logistics, or e-commerce fulfillment. Its strategic location near major highways enhances its role as a regional and national operational hub.
Plans for Modernization and Renovation
Phoenix Investors intends to begin capital improvements rapidly to adapt the facility for contemporary industrial users. Planned upgrades encompass selective demolition, the addition of a new roof, enhancements to fire suppression systems, and both interior and exterior renovations. These improvements are designed to increase the facility's functionality and aesthetic appeal, positioning it to attract high-quality tenants.
Commitment to Revitalization
“This is the ninth former glass plant we've acquired in the nation, and we have shown our ability to redevelop these sites successfully into modern industrial assets,” stated Anthony Crivello, Executive Vice President & Managing Director at Phoenix Investors. “This acquisition fits our national strategy to repurpose legacy facilities and create value for tenants. We are optimistic about the growth potential here, supporting both the local market and the surrounding regions.”
Ongoing Efforts and Future Prospects
This acquisition underscores Phoenix Investors' steadfast commitment to revitalizing legacy industrial assets. In an era where demand for strategically located, high-capacity facilities grows, Phoenix remains dedicated to providing adaptable, high-performance spaces tailored to the evolving requirements of today's industrial tenants.
About Phoenix Investors
Phoenix Investors stands at the forefront of the acquisition, renovation, and leasing of former manufacturing facilities across the United States. The revitalization efforts carried out by Phoenix positively transform communities, reigniting economic activity in the areas they serve. The company's affiliate entities collectively maintain equity interests in a sizable portfolio of industrial properties totaling approximately 83 million square feet across 27 states, allowing corporations access to a cost-effective national footprint for meeting their leasing requirements effectively.
Frequently Asked Questions
What is the significance of the facility acquired by Phoenix Investors?
The facility enhances Phoenix Investors' industrial portfolio, adding significant square footage optimized for various manufacturing and logistics purposes.
What improvements are planned for the acquired facility?
Phoenix Investors plans to implement several upgrades, including a new roof, interior and exterior renovations, and enhancements to fire suppression systems.
How does this acquisition fit within Phoenix Investors' overall strategy?
This acquisition aligns with the company's national strategy of repurposing legacy facilities, transforming them into modern industrial assets to meet evolving tenant needs.
What types of users is the facility suited for?
The facility is ideal for various industrial users, including manufacturing operations, logistics, and e-commerce fulfillment services.
What is the experience of Phoenix Investors in handling such acquisitions?
Phoenix Investors has a successful track record of acquiring and redeveloping former manufacturing sites, with this being their ninth acquisition of a former glass manufacturing plant.
