An affiliate of Phoenix Investors acquired a large industrial complex in Union City, Tennessee.
The property at 600 E. Sherwood Drive was previously owned by MVP Group International. This strategic acquisition adds over 411,000 square feet to Phoenix’s portfolio, which now exceeds 78 million square feet nationwide.
MVP Group International is a global leader in home fragrance and is one of the world’s largest manufacturers and distributors of private label scented candles with additional expertise in contract manufacturing.
The property is situated on 34 acres of land and features a total of 411,489 square feet, which includes nearly 398,000 square feet of warehouse space, 13,500 square feet of office space, and a 2,200-square-foot breakroom. Built in 1985 and renovated as recently as 1995, the building also features 18 dock doors, clear heights up to 28 feet, 2 compressors, and an extensive racking system.
Ideally positioned directly on US Highway 51, the property serves as a convenient midpoint between Nashville, Memphis, and St. Louis. The property is zoned for both Planned Industrial and Intermediate Business. Phoenix plans to implement a capital improvement plan to attract high-quality industrial users to the area.
