February 21, 2017

Three former Whirlpool facilities

Three former Whirlpool facilities

Phoenix Investors purchases three former Whirlpool facilities

As reported in Milwaukee BizTimes:

Acquisition increases company’s portfolio to 17 million square feet of industrial space

Milwaukee-based Phoenix Investors LLC, continues to grow its industrial portfolio with the purchase of three former Whirlpool manufacturing facilities, all outside of Wisconsin.

The properties, ranging in size from 229,781 square feet to 1.6 million square feet, are located in Cleveland, Tenn., Evansville, Ind., and Fort Smith, Ark.

Over the last three years, Phoenix Investors has purchased six former Whirlpool plants as part of its overall business plan to revitalize former manufacturing plants across the country.

“After the success of our acquisition of Whirlpool’s former facility in Milan, Tennessee, now leased to Delta Faucets, we are pleased to acquire another former Whirlpool Complex in Tennessee ripe for an adaptive reuse,” said David Marks, managing director of Phoenix Investors.

The purchase brings the company’s total portfolio to 17 million square feet across 22 states.

Our core focus and competency lies in restoring legacy industrial properties back to their original greatness,

said Frank P. Crivello Chairman & Founder of Phoenix Investors. “We will bring quality companies and jobs back into the former Whirlpool Complex. We already have a list of prospects.”

Read the full story here

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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