As reported on cpexecutive.com: Timea Papp
Phoenix Investors completed the purchase of two industrial properties in Beloit and Jefferson, Wis., through one of its affiliates. The assets changed hands in a $25.8 million deal and encompass more than 1 million square feet of industrial space. Wisconsin Bank and Trust provided the acquisition financing.
The property located at 351 Collins Road in Jefferson, Wis., features up to 30-foot clear ceilings and boasts 591,840 square feet. The distribution warehouse is fully leased and is near Interstate 94, providing access to major Midwestern markets including Chicago, Milwaukee and Minneapolis.
“These acquisitions represent our entry into the Beloit and Jefferson industrial markets. The tenant mix is an attractive addition to our portfolio. Both properties have opportunities for future value-add improvements,” said Anthony Crivello, executive vice president of Phoenix Investors, in a prepared statement.