CONNERSVILLE, Ind., November 30, 2021 / PRNewswire / – A Phoenix Investors Affiliate (“Phoenix“) announced the acquisition of a 1.7 million square foot manufacturing facility on 186 acres at 4747 North Western Avenue, Connersville, Indiana.
The first phase of the facility was built in 1953 by Philco Corporation. Philco was a leading consumer, automotive, and defense manufacturer dating back to the 1920s. In 1961, the Ford Motor Company acquired Philco and renamed the division Philco-Ford in 1966. Ford expanded the plant in phases in the 1960s. Ford operated the Connersville Plant from 1961 until it spun off that division as Visteon Corporation in 2000. Visteon Corporation is an American, global automotive electronics supplier that consists of several companies that develop, develop and manufacture vehicle cockpit electronics products and connected car services for a diversified customer base, including all major automakers. Visteon closed the factory in 2007. Since 2013, one third of the factory has housed CliqStudios Cabinets.
The property has robust and heavy industrial infrastructure, including 30 ‘headroom throughout, 60’ x 40 ‘column spacing, 50 docks and drive-in doors, two sidings with multiple bays, and over 2,000’ on-site rails for wagon management, an ESFR sprinkler system and a massive electrical infrastructure with 28 MVA. One of the oldest cities in Indiana, Connersville is strategically located between I-70 and I-74, which is directly with Indianapolis (55 miles); Dayton (72 miles); and Cincinnati (62 miles). These properties make it an ideal location for logistics and manufacturing companies. The Mettel Air Field is directly opposite the property and is used for jet aviation.
“Mayor Frank and his team leaned back to welcome us Connersville. Our public-private partnerships are crucial for the successful renovation of such facilities. the Connersville People and the infrastructure of this plant cannot simply be duplicated, “said Frank Crivello, Founder and Chairman of Phoenix Investors. “Phoenix can adapt this facility to a range of industries. the Connersville Community and culture are closely tied to a history of hard work and innovation. We look forward to being part of his future. “
“Mr. Crivello and his team at Phoenix Investors have been a first class, professional group to work with from day one,” said Chad Frank, Mayor, Connersville, Indiana. “The property has a rich history that I am excited to be renovating and thriving with great businesses that will make a positive difference to our community.”
“We will renovate this property first class. We will bring it back to its size, ”said David Marks, President and CEO of Phoenix Investors. “Given the unique infrastructure and proximity to key production centers, we are confident that we will attract high-quality companies to the property.”
About Phoenix Investors
Phoenix Investors is a national commercial real estate company based in Milwaukee, Wisconsin. Phoenix’s Affiliates have interests in industrial, retail, office, and retail net-lease properties in approximately 49 million square feet in 29 states. The core business is the comprehensive revitalization of former production facilities The United States. This strategy leads to a positive change in the communities and the economic engine in the communities in which we operate again.
Further information is available at https://phoenixinvestors.com.
SOURCE Phoenix investors
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