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Phoenix Investors Adds to Rockford Portfolio
Milwaukee-based Phoenix Investors has acquired a former Bon-Ton distribution facility in Rockford, IL. Deal terms were not disclosed. With the acquisition of the 517,000-sqare-foot facility at 4650 Shepherd Trail in Rockford, Phoenix now own approximately 3.2 million square feet in Illinois.
“We are deeply embedded in the Rockford industrial market,” said Kurt Jensen (pictured), Phoenix’s SVP of acquisitions and leasing. “This acquisition further cements our commitment to the area. The property is well-positioned to provide a cost efficient and flexible solution for future users.”
The property features approximately 25,000 square feet of office space, clear ceiling heights up to 26 feet, one drive-in door and 127 dock doors. It’s easily divisible for multi-tenant occupancy.
Senior mortgage financing was provided by River Valley Bank. Phoenix intends on renovating the property in the coming months, making the space more attractive to new users.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
- ◦Sale/Acquisition
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