Phoenix Investors Expands with 517,000 square-foot Distribution Center in Rockford, Illinois
02/05/2019
According to company officials 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.
The Rockford, Illinois site is conveniently located between two full four-way interchanges with Interstate 90, the property features approximately 25,000 square feet of office space, clear ceiling heights up to 26 feet, 1 drive-in door, and 127 dock doors. The property is easily divisible for multi-tenant occupancy.
Phoenix said it intends on renovating the property in the coming months, making the space more attractive to new users.
"We are deeply embedded in the Rockford industrial market. This acquisition further cements our commitment to the area," said Kurt Jensen, Phoenix's Senior Vice President of Acquisitions and Leasing. "The property is well positioned to provide a cost efficient and flexible solution for future users."
With the subject acquisition, Phoenix's affiliates now own approximately 3,200,000 square feet in Illinois. Senior mortgage financing was provided by River Valley Bank.
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