Phoenix Investors acquires industrial facility in Park Hills
An affiliate of Phoenix Investors (“Phoenix”) announced the acquisition of the approximately 515,913-square-foot industrial building located at 1000 Taylor Ave. in Park Hills.
Construction began on the building in 1976, with additions and updates made as recently as 2018. The facility features 18 docks; six, 14-foot overhead drive-in doors; clear heights up to 40 feet; and both wet & dry fire suppression systems.
Sitting on 41.76 acres with parking for almost 300 automobiles and nine trailers, Phoenix is intent on making the property ready for immediate leasing opportunities. Over 500,000 square feet is available.
The property also boasts an active rail spur serviced by Union Pacific Railroad, is located only 11 miles from Farmington Regional Airport, and less than two miles from U.S. 67, making the facility accessible from rail, air, and road.
The property was formerly inhabited by PGP Glass USA Inc. (“PGP”) and owned by Piramal Glass, an Indian company owned by Blackstone Capital. Once said to be the city’s largest employer, PGP announced its closure in February 2022 and closed its doors in March 2022.
“We are very excited to add this industrial facility to our portfolio and attract quality employers to the area,” said Phoenix Investors Chairman and Founder Frank Crivello. “The facility can be leased immediately; we are confident we will be able to reinvigorate the area’s economic activity with this valuable acquisition.”
Phoenix officials say the acquisition highlights its commitment to investing in the Park Hills community and providing superior commercial real estate options to local businesses, as well as avenues for development and growth within the local workforce and economy.
For more information, or to schedule a tour of the property, Phoenix can be contacted at https://phoenixinvestors.com/contact.
Phoenix Investors touts itself as the leading expert in the acquisition, renovation, and releasing of former manufacturing facilities in the United States. “The revitalization of facilities throughout the continental United States leads to positively transforming communities and restarting the economic engine in the communities we serve,” reads the boilerplate. “Our reconstruction and selective deconstruction of facilities provides a green alternative versus the standard demolition and replacement of legacy buildings.”
Phoenix’s affiliate companies hold equity interests in a portfolio of industrial properties totaling approximately 65 million square feet spanning 29 states.
More information can be found at the website phoenixinvestors.com.