As reported in Arkansas Business:

The Fort Smith Regional Chamber of Commerce said Tuesday that Phoenix Investors LLC of Milwaukee had purchased the 1.5 million-SF former Whirlpool manufacturing facility on Jenny Lind Road in Fort Smith.

The building has been for sale since the appliance manufacturer closed the plant in 2012. Another building in the complex previously sold.

A purchase price was not disclosed.

Phoenix Investors purchases single tenant manufacturing sites throughout the country, revitalizes them and markets them to potential occupants. Its portfolio includes more than 17 million SF across 22 states.

The chamber said Phoenix’s plans for Whirlpool include “collaborating with other logistics and distribution enterprises to offer a centrally located hub for several companies.”

Tim Allen, president and CEO of the Fort Smith Regional Chamber of Commerce, said in a news release that the company has

a solid record of attracting quality tenants and rehabilitating large regional properties.

“We now have 1.2 million square feet of first floor space and 300,000 square feet of mezzanine space that will actively attract jobs to the community instead of sitting unused,” he said. “Add to that a partner who shares our goal of growing and recruiting business and this is a big win for Fort Smith.”

Phoenix Investors’ Senior Management includes Frank P. Crivello as Chairman & Founder; David Marks as President & CEO; and Anthony Crivello as Executive Vice President.

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Frank P. Crivello is a Milwaukee-based developer and Chairman & Founder of Phoenix Investors.