High-rise commercial buildings

Sub Markets

Property Sectors

Topics

Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Chicago & Midwest  + Midwest  + Industrial  | 

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.

Get Chicago News in 150 Words

For comments, questions or concerns, please contact Paul Bubny

Connect

Inside The Story

Connect With Phoenix Investors

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
  • ◦Sale/Acquisition