PHOENIX BROWN DEER, LLC SELLS FORMER WESTBURY BANK BRANCH TO THE VILLAGE OF BROWN DEER
As reported on businessinsider.com
MILWAUKEE, Oct. 23, 2018 /PRNewswire/ — An affiliate of Phoenix Investors (“Phoenix“), a national private commercial real estate firm headquartered in Milwaukee, Wisconsin, announced that it sold the former Westbury Bank building located at 4301 West Brown Deer Road to the Village of Brown Deer. The building will become the new home of the Brown Deer Public Library; as well, the Village acquired two additional parcels from Phoenix that are currently used for overflow parking. These parcels will be land banked for future strategic development by the Village.
“Having purchased the former Westbury Bank branch in 2014, we were good stewards of these properties, investing in the extensive tenant buildout required by the US Government which resulted in the occupancy by the various branches of the US Armed Forces for recruitment. Now, having the ability to facilitate the occupancy of the remainder of the building by the Brown Deer Public Library on the exit of our investment completes the revitalization process,” said Anthony Crivello, Executive Vice President.
“As Phoenix has demonstrated in the past, we continue to find ways to invest in the communities we serve. In conjunction with the sale, we donated $1,500,000 to the Village of Brown Deer in support of the new public library,” said Frank Crivello, Chairman and Founder of Phoenix Investors.
About Phoenix Investors
Phoenix Investors is a national commercial real estate firm based in Milwaukee, Wisconsin whose core business is the revitalization of former distribution and manufacturing facilities throughout the United States. This strategy leads to positively transforming communities and restarting the economic engine in the communities we serve.
Phoenix’s affiliate companies hold interests in approximately 24 million square feet of industrial, retail, office, and single tenant net-leased properties across 23 states. A 2018 survey conducted by National Real Estate Investor ranked Phoenix Investors as having the 28th largest national industrial real estate portfolio. Phoenix principally specializes in the renovation and repositioning of large, former single tenant industrial facilities throughout the United States that were previously owned by major corporate clients, REITs, or financial institutions.
For more information visit https://phoenixinvestors.com
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