September 28, 2020

Phoenix Investors, Frank P. Crivello, & Revitalization

Phoenix Investors, Frank P. Crivello, & Revitalization

As published in The Post Star

Founded in 1994 by Frank P. CrivelloPhoenix Investors and its affiliates (collectively “Phoenix”) are a leader in the acquisition, development, renovation, and repositioning of industrial facilities throughout the United States. Utilizing a disciplined investment approach and successful partnerships with institutional capital sources, corporations, and public stakeholders, Phoenix has developed a proven track record of generating superior risk-adjusted returns, while providing cost-efficient lease rates for its growing portfolio of national tenants.

Phoenix’s affiliate companies currently hold interests in over 30 million square feet of industrial, retail, office, and single tenant leased properties across 21 states. The most recent National Real Estate Investor survey ranked Phoenix Investors as having the 28th-largest total industrial real estate portfolio in the U.S.

Perhaps Phoenix’s greatest focus and legacy lay in the revitalization of distressed communities suffering from the aftermath of urban blight. Phoenix Investors understands distress and blight in all forms: corporate distress due to the closure of a manufacturing plant; loss of jobs and damage to a corporate brand in the host community; environmental distress due to historical contamination of a manufacturing site; and property distress due to deferred projects and maintenance, which are generally complicated to evaluate and costly to undertake.

“Over a decade ago our core focus shifted to the renovation of large former industrial plants and I began to witness entire communities regain their footings in the areas surrounding our redevelopments,” said Frank P. Crivello, chairman and founder of Phoenix Investors. “Most often when we complete a major industrial renovation, businesses and homes near our projects began to see investment and improvement. Our renovations are a catalyst for investment and economic activity.”

As a nationally recognized commercial real estate firm, Phoenix Investors services communities across the United States, including Glens Falls and upstate New York. Phoenix acquired the facility located at 1 Apollo Drive in 2010 from National Grid; the building was previously owned by Niagara Mohawk and was built in 1986. After Phoenix’s acquisition, National Grid leased back a portion of the building; over 50,000 square feet of office space are currently available to lease.

With access to Quaker Road and Dix Avenue, Phoenix’s facility in Glens Falls boasts a floor plan that includes divided office suites, large conference rooms, four sets of restrooms, and a cafeteria. Tenants have the potential to make improvements on the property, which is located just five minutes from Washington County, Saratoga County, Glens Falls Central Business District, and Floyd Bennett Memorial Airport. The property is located on a secluded and lush campus, with abundant natural light and ample parking.

As the worlds of commerce and industry change at a rapid pace, Phoenix Investors understands that traditional concepts and solutions typically used over the last five, 10, or 15 years may no longer be optimal today. Phoenix seeks to find the proper and, sometimes, creative solutions to help corporations dispose of their excess real estate, whether structuring a sale-leaseback transaction for an operating facility or acquiring a former, single-tenant industrial facility in need of revitalization.

Please visit to learn more about Phoenix Investors and their national reach.

Mr. Frank P. Crivello began his real estate career in 1982, focusing his investments in multifamily, office, industrial, and shopping center developments across the United States. From 1994 to 2008, Mr. Crivello assisted Phoenix Investors in its execution of its then business model of acquiring net lease commercial real estate across the United States. Since 2009, Mr. Crivello has assisted Phoenix Investors in the shift of its core focus to the acquisition of industrial real estate throughout the country.

Given his extensive experience in all aspects of commercial real estate, Mr. Crivello provides strategic and operational input to Phoenix Investors and its affiliated companies.

Mr. Crivello received a B.A., Magna Cum Laude, from Brown University and the London School of Economics, while completing a double major in Economics and Political Science; he is a member of Phi Beta Kappa. Outside of his business interests, Mr. Crivello invests his time, energy, and financial support across a wide net of charitable projects and organizations.

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