Cision PR Newswire

Acquisition adds 2.3 million square feet and over 145 acres to Phoenix's portfolio.

MILWAUKEE, Feb. 3, 2025 /PRNewswire/ -- An affiliate of Milwaukee-based Phoenix Investors ("Phoenix"), a national leader in the revitalization of former manufacturing facilities, announced the acquisition of two industrial properties in Wisconsin and Michigan. Respectively located at 3280 South Clement Avenue in Milwaukee, WI, and 840 Huron Boulevard in Marysville, MI, the properties were previously owned by FCA US LLC, a wholly owned subsidiary of global automaker Stellantis. This strategic acquisition adds approximately 2,300,000 square feet and 145.03 acres to Phoenix's portfolio, which now exceeds 80 million square feet nationwide. As of closing, both buildings are 100% leased to Stellantis.

Formed in 2021 through the merger of Fiat Chrysler Automobiles and Groupe PSA, Stellantis designs, manufactures, and sells vehicles under the Chrysler, Jeep^®, Dodge, Ram, Alfa Romeo, and Fiat brands and provides parts, service, and customer service through its Mopar division. Both the Milwaukee and Marysville campuses are home to Mopar parts distribution centers. 

"Both properties are situated in prime locations," said Phoenix's Executive Vice President & Managing Director Anthony Crivello. "We're thrilled to add these properties to our growing portfolio and look forward to maintaining a strong presence in Wisconsin and Michigan. Collaborating with Stellantis was a pleasure, and we were happy to provide a win-win outcome for all parties."

The Milwaukee property on Clement Avenue features 1,050,000 square feet on 43.53 acres with abundant parking and restrooms, as well as access to a Chicago & North Western (formerly Union Pacific) rail spur. Clear heights up to 21 feet, 40 docks, six drive-ins, and adequate office space make the property ideal as an industrial complex.

Additionally, the Marysville property on Huron Boulevard spans 1,250,000 square feet on 101.5 acres with ample auto parking and expandable trailer parking, as well as CSX rail access. Clear heights up to 36 feet, 64 docks with expandable capabilities, 13 grade doors, and 9,800 square feet of office space provide a well-equipped and versatile space.

The transaction was brokered by Tony Avendt and Jeff Hoffman of Cushman & Wakefield.

About Phoenix Investors

Phoenix Investors is the leading expert in the acquisition, renovation, and release of former manufacturing facilities in the United States. The revitalization of facilities throughout the continental United States positively transforms communities and restarts the economic engine in the communities we serve. Phoenix's affiliate companies hold equity interests in a portfolio of industrial properties totaling approximately 80 million square feet and spanning 27 states, delivering corporations with a cost-effective national footprint to dynamically supply creative solutions to meet their leasing needs.

For more information, please visit https://phoenixinvestors.com.

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SOURCE Phoenix Investors