MILWAUKEE, April 19, 2021 /PRNewswire/ — Associates of Phoenix Buyers (“Phoenix“), a nationwide personal industrial actual property agency headquartered in Milwaukee, Wisconsin, introduced the acquisition of a multi-tenant flex constructing in Waseca, Minnesota. This acquisition expands Phoenix’s footprint to 23 states. Phoenix will probably be implementing a capital enchancment plan to reinvigorate the house for brand spanking new customers. At present, the property affords roughly 110,000 sq. toes of house accessible for lease.
Town of Waseca is centrally situated on the crossroads of main highways and a brief commute from the Twin Cities, making it a hub for manufacturing and transportation. Positioned at 229 Johnson Avenue SW in Waseca, MN, the topic property can help quite a few makes use of and configurations. The power spans 248,291 sq. toes and sits on 19.72 acres with surrounding paved parking and undeveloped land to the south. The constructing’s dimension, location, and structure make it best for tenant sorts reminiscent of workplace, warehousing, or storage. The house will also be repurposed for various makes use of like daycare, mini storage, or workplace house alongside its industrial capabilities.
“We’re thrilled to enter the Minnesota industrial market with our acquisition in Waseca,” mentioned Frank Crivello, Chairman and Founding father of Phoenix. “We’re assured that our capital enchancment plans will make this facility a fair higher asset to the tenants, the group, and its residents.”
“We count on this to be the primary of many new acquisitions in Minnesota,” mentioned David Marks, President & CEO of Phoenix. “We’re finding out present and ground-up industrial alternatives throughout the state as nicely.”
The transaction was brokered by Dave Schooff of Coldwell Banker Industrial Fisher Group.
About Phoenix Buyers
Phoenix Buyers is a nationwide industrial actual property agency based mostly in Milwaukee, WI whose core enterprise is the revitalization of former manufacturing services all through america. This technique results in positively remodeling communities and restarting the financial engine within the communities we serve.
Phoenix’s affiliate firms maintain pursuits in industrial, retail, workplace, and single tenant net-leased properties in roughly 38 million sq. toes, spanning 23 states. NREI’s most up-to-date survey ranked Phoenix Buyers as having the twenty eighth largest whole industrial actual property portfolio in america. In the present day, Phoenix principally specializes within the renovation and repositioning of huge, former single tenant industrial services all through america that had been beforehand owned by main company purchasers, REITs, or monetary establishments.
For extra info, please go to https://phoenixinvestors.com.
SOURCE Phoenix Buyers
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