[ad_1]
The former Electrolux manufacturing plant is close to St. Cloud Regional Airport. Image courtesy of CommercialEdge
Phoenix Investors has purchased a 922,444-square-foot industrial facility in St. Cloud, Minn. The seller was Electrolux Group, which had used it as a freezer manufacturing and production plant until late 2019. Savills Senior Managing Director Paul Danko brokered the deal.
Built in 1950 at 701 33rd Ave. N., the one-story Class B facility includes 28-foot clear heights, 31 dock doors, 9 drive-in doors and 980 parking spots.
Phoenix Investors plans to secure new tenants at the property and help the St. Cloud community with its economic recovery. Executive Vice President & Managing Director Anthony Crivello and Assistant Vice President Luke Herder are marketing the rail-served facility for lease.
The 50.6-acre property is close to state routes 15 and 23. St. Cloud Regional Airport is 8 miles east, while the Minneapolis-St. Paul area is some 70 miles away.
Recent additions to Phoenix Investors’ portfolio
Phoenix Investors specializes in the acquisition, renovation and releasing of former manufacturing facilities across the U.S. The firm’s portfolio totals approximately 71 million square feet.
Recent investments include a 5 million-square-foot industrial portfolio and excess land sites in North Carolina and Mississippi. The seller, United Furniture Industries, had closed all business operations in late 2022.
In July, Phoenix Investors made another acquisition in the Midwest. The company picked up a 365,640-square-foot property in West Burlington, Iowa, planning to transform it into a high-quality industrial product.
[ad_2]
Source link
