PHOENIX INVESTORS BUYS ALABAMA FACTORY PROPERTY FOR $5.1M
As reported in the Birmingham Business Journal By Hanno van der Bijl
A commercial real estate firm based in Milwaukee is expanding into the Yellowhammer state.
Phoenix Investors has acquired the former Chesebrough-Pond’s industrial plant in Huntsville for $5.1 million. The 359,000-square-foot building is located at 1000 James Record Road.
“Phoenix Investors is proud to expand across 22 states in our portfolio after this acquisition in Alabama,” said Senior Vice President of Acquisition and Leasing for Phoenix Investors Kurt Jensen. “We look forward to continuing the re-positioning of this property from single to multitenant industrial use.”
Phoenix owns about 18 million square feet of commercial real estate in 22 states.
“The proximity to the Huntsville International Airport and I-585 made this a long-term attractive asset for our portfolio,” said Phoenix Investors Chairman Frank Crivello. “We continue to deploy committed capital on our core industrial strategy and seek additional industrial value acquisitions in the Huntsville market and across Alabama.”
We continue to deploy committed capital on our core industrial strategy and seek additional industrial value acquisitions in the Huntsville market and across Alabama.Read the full story here