Acquisitions & Projects Archives

Elon Musk, xAI and a big supercomputer in Memphis: A look at plans for the massive project

Elon Musk’s xAI is building an Artificial Intelligence Center in a Phoenix Investors facility in Memphis, Tennessee; Phoenix purchased the 785,000-square-foot facility in December 2023 from Electrolux Group. With this investment, Memphis will be home to the world’s largest supercomputer. The project is expected to open in late 2024 and boost jobs and economic activity in the Memphis area. Check out the full article by Neil Strebig at Commercial Appeal.

Phoenix2024-08-02T17:48:58+00:00June 7th, 2024|Acquisitions & Projects, Blog, Phoenix Companies|

Redevelopment of the Year for Roanoke

Former GE Plant Gets New Life With Global Vehicle Parts Manufacturer’s $32 Million Investment As first published by Allen Johnson & Christian Taylor for CoStar. The revival of a former General Electric plant has shown the strength of the Roanoke, Virginia industrial market with a big new tenant and plans for expansion. STS Group, a global supplier of vehicle parts, signed a 15-year lease at 1501 Roanoke Blvd.in Salem, Virginia. The German company seeks to establish its North American headquarters and a manufacturing operation on ... Read More

Phoenix2024-08-02T17:52:44+00:00March 28th, 2024|Acquisitions & Projects, Blog, David Marks, Phoenix Companies, Phoenix Team, Press|

Renovation of Kentucky Warehouse Aligns With Governor’s Push for Agritech Jobs

Originally Published by CoStar Group Inc. An affiliate of Phoenix Investors acquired a vacant 267,289-square-foot warehouse building in Mount Sterling, Kentucky, for $1.65 million in December 2022. The building hadn't been used since Regal Rexnord Corp. ceased operations in 2014. Shortly after the sale, Phoenix Investors entered a long-term lease agreement with Neogen Corp., a manufacturer of animal and food safety products. Phoenix renovated the warehouse — now called the Neogen Mount Sterling — in 2022, adding new dock positions, racking and conveyor systems, ... Read More

Phoenix2024-08-02T18:45:05+00:00April 5th, 2023|Acquisitions & Projects, Anthony Crivello, Blog, Press|