{"id":1004679054,"date":"2023-09-06T03:54:30","date_gmt":"2023-09-06T11:54:30","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004679054"},"modified":"2023-09-06T03:55:52","modified_gmt":"2023-09-06T11:55:52","slug":"phoenix-investors-buys-5-msf-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/phoenix-investors-buys-5-msf-portfolio\/","title":{"rendered":"Phoenix Investors Buys 5 MSF Portfolio"},"content":{"rendered":"
\"\"<\/a>

Frank Crivello, Chairman & Founder, Phoenix Investors. Image courtesy of Phoenix Investors<\/em><\/p><\/div>\n

Phoenix Investors<\/strong> has purchased a 5 million-square-foot industrial portfolio and excess land sites totaling more than 600 acres in North Carolina and Mississippi. The seller is United Furniture Industries<\/strong>, which closed all its business operations in late 2022.<\/p>\n

Following the acquisition, Phoenix Investors’ portfolio now includes more than 70 million square feet of industrial space across 29 states.<\/p>\n

United\u2019s plants and manufacturing facilities traded after the company\u2019s $65 million bid gained final approval from U.S. Bankruptcy Court last week, according to the Winston-Salem Journal<\/em><\/a>. The same source reveals that at least $27 million from the proposed sale price went toward properties situated in Winston-Salem, N.C., Lexington, N.C. and Trinity, N.C.<\/p>\n

\n

READ ALSO<\/strong>: The Inflation Reduction Act\u2019s Impact on the Supply Chain<\/a><\/p>\n

\n

The portfolio includes 13 industrial facilities and two land sites. Each building features a good infrastructure, yard space, docks and bumpers, as well as substantial gas, water and electric utilities. Most of these properties are also climate-controlled and rail serviced.<\/p>\n

Some of the assets included in the portfolio are:<\/p>\n