Affiliates of Phoenix Investors, a national private commercial real estate firm headquartered in Milwaukee, Wisconsin, have acquired three industrial properties from Frog Properties totaling about 1.6 million square feet.
The acquisitions are located in Dresden, Tennessee; Kingsport, Tennessee; and Church Hill, Tennessee. With the addition of these properties, Phoenix’s growing portfolio spans 21 states and includes commercial properties in excess of 32 million square feet.
The subject properties range in size from about 130,000 to 850,000 square feet, and will allow for the expansion of Phoenix’s affiliated logistics business, Phoenix Logistics, to support growing demand in that area of the United States for its services. Upon completion of renovation and modernization of the facilities, Phoenix plans to expand existing in-place tenants and accommodate new businesses for occupancy.
The 611,556-square-foot Dresden facility, anchored by Champion Homes and MTD, was originally occupied by Quebecor/World Color, and is located at 2073 Evergreen St. Amenities at this location include an ample area for parking, 30 truck doors, flooring 8-12” thick to support heavy loads, 20-35’ ceiling heights and rail access with a 1,500-foot rail platform.
The Kingsport facility is located at 2497 Sherwood Road and has been improved with about 130,751 square feet of quality industrial space on 5.8 acres. Ceiling Heights are up to 20’ clear, with ample column spacing and 8-12” thick reinforced concrete floors.
In Church Hill, the facility is the former Quebecor World facility located at 121 Kingsport Press Road. The location is comprised of three industrial buildings totaling approximately 857,056 square feet. An interior 300-foot rail spur supports access to the Norfolk Southern Rail. Heavy power, ample docks for both truck and rail, and a diversified rent roll highlights the advantages of the in-place infrastructure at this location.