HUNTSVILLE, Ala., April 26, 2021 /PRNewswire/ -- An affiliate
of Phoenix Investors ("Phoenix"),
a national private commercial real estate firm headquartered in
Milwaukee, Wisconsin, announced
the acquisition of the Technicolor Campus in Huntsville, Alabama. The buildings are located
at 4905 Moores Mill Road and span 1,378,000 square feet on
approximately 161 acres.
Located in the second largest and second-most populous city of
Alabama, the Technicolor Campus
has an established history of successful manufacturing,
warehousing, and distribution fulfillment. The properties enjoy a
centralized location with accessibility to both major highways and
interstates or commercial air service by way of Huntsville International Airport, Birmingham International Airport, and
Nashville Airport, making it an optimal location for continued
manufacturing, warehousing, and e-commerce fulfillment
uses.
The industrial buildings were historically used for disc
manufacturing, packaging, and distribution, with the following
breakdown: 916,000 square feet in warehouse and distribution space,
425,000 square feet in manufacturing and production space, and
30,000 square feet of office space. The first phase of improvements
was constructed in 1979, followed by substantial renovations and
expansions in 1995, 2001, and 2007. Improvement features include
finished office space, 27 – 42' clear heights, 50 docks, six
drive-in doors, and robust infrastructure and power.
"The Technicolor Campus has been a focal point in Huntsville for years. Its location is highly
desirable to industrial users and the real estate quality is first
class," said Frank Crivello,
Phoenix's Chairman and
Founder.
"Technicolor will exit the properties in August," said
Anthony Crivello, Executive Vice
President of Phoenix. "This week
our formal marketing of the space will begin. These buildings are
in excellent condition and are move-in ready. We already have
received numerous inquiries from parties interested in leasing all
or portions of the premises."
"We entered the Huntsville
industrial market with our purchase four years ago of the former
Chesebrough-Pond's manufacturing plant which we have successfully
repositioned," said David Marks,
President & CEO of Phoenix.
"We have identified Huntsville as
a market poised for continued long-term growth and strong
industrial demand. With limited modern big-box, high-bay space
available in the marketplace, we expect a strong tenant response to
this campus coming onto the marketplace for lease."
The transaction was brokered by Daniel
Stubbs, Sr. Vice President and Partner, Binswanger.
About Phoenix Investors
Phoenix Investors is a national commercial real estate firm
based in Milwaukee, WI whose core
business is the revitalization of former manufacturing facilities
throughout the United States. This
strategy leads to positively transforming communities and
restarting the economic engine in the communities we serve.
Phoenix's affiliate companies
hold interests in industrial, retail, office, and single tenant
net-leased properties in approximately 39 million square feet,
spanning 23 states. NREI's most recent survey ranked Phoenix
Investors as having the 28th largest total industrial real estate
portfolio in the United States.
Today, Phoenix principally
specializes in the renovation and repositioning of large, former
single tenant industrial facilities throughout the United States that were previously owned
by major corporate clients, REITs, or financial institutions.
For more information, please visit
https://phoenixinvestors.com.
View original
content:http://www.prnewswire.com/news-releases/affiliates-of-phoenix-investors-acquire-technicolors-campus-in-huntsville-alabama-301277011.html
SOURCE Phoenix Investors