Wauwatosa J.C. Penney Building Sold For $31 Million

Phoenix Investors has purchased the Wauwatosa warehouse that J.C. Penney Co. will close later in 2018 for $31.25 million. and plans to renovate the more than 2 million-square-foot building. Phoenix Chairman and Founder Frank P. Crivello said, “As the largest owner of industrial warehouse and manufacturing space in Wisconsin, we are uniquely qualified to re-position these buildings in a manner that will result in a number of new high-quality companies occupying portions of the complex.”

Read the full story, written by Sean Ryan for the Milwaukee Business Journal, here.