An affiliate of Phoenix Investors acquired an approximately 515,913-square-foot industrial building located at 1000 Taylor Ave. in Park Hills, Missouri. The purchase price wasn’t disclosed.
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 wet and dry fire suppression systems.
Sitting on 41.76 acres with parking for nearly 300 automobiles and nine trailers, the property is poised for immediate leasing opportunities. The property also boasts an active rail spur serviced by Union Pacific Railroad, is located only 11 miles from Farmington Regional Airport, and is less than 2 miles from US-67, making the facility easily accessible from rail, air, and road.
The property was formerly inhabited by PGP Glass USA, Inc. and owned by Piramal Glass, an Indian company owned by Blackstone Capital. Once 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 & 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.”
Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories.
With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.