As reported by the Arkansas Economic Development Commission:
Phoenix Investors LLC today joined local and state leaders to celebrate the company’s purchase of the former Whirlpool manufacturing facility in Fort Smith. The company will invest more than $10 million in the 1.5 million square foot facility, located on Jenny Lind Road, making it immediately marketable to companies seeking a new location.
Phoenix Investors is a national commercial real estate firm based in Milwaukee, Wisconsin whose core business is the revitalization of former manufacturing facilities throughout the United States. This strategy leads to positively transforming communities and restarting the economic engine in the communities they serve.
Phoenix Investors will work closely with the Fort Smith Regional Chamber of Commerce and Arkansas Economic Development Commission to market the facility to prospective companies.
Our core focus and competency lies in restoring legacy industrial properties back to their original greatness,
said president and CEO of Phoenix Investors David Marks. “We will bring quality companies and jobs back into the former Whirlpool Complex; we already have a list of prospects.
“The City of Fort Smith and State of Arkansas have been tremendously supportive of our investments to fulfill our vision for the former Whirlpool Complex and we will continue to work with them and take full advantage of the dynamic opportunities that exist in Fort Smith. The infrastructure improvements near the facility, strong community leadership, and a great local workforce are key ingredients we look for in a redevelopment project.”
The Whirlpool facility has been on the market since 2012 when Whirlpool discontinued production.
“The former Whirlpool facility is among the largest industrial buildings in Arkansas,” said Mike Preston, executive director of the Arkansas Economic Development Commission. “This investment by Phoenix Investors moves us much closer to hopefully bringing jobs back to this facility. We look forward to working together to build on the rich history of manufacturing in Fort Smith.”
“We are very excited to welcome Phoenix Investors to Fort Smith and are pleased with their investment and commitment to our community,” said Tim Allen, President and CEO of the Fort Smith Regional Chamber of Commerce.
This project is the type of partnership, capital investment and focus on our talented workforce we want for Fort Smith moving forward.