{"id":1004689010,"date":"2023-11-08T05:32:34","date_gmt":"2023-11-08T13:32:34","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004689010"},"modified":"2023-11-08T05:32:36","modified_gmt":"2023-11-08T13:32:36","slug":"phoenix-investors-buys-465-ksf-pittsburgh-area-industrial-plant","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/phoenix-investors-buys-465-ksf-pittsburgh-area-industrial-plant\/","title":{"rendered":"Phoenix Investors Buys 465 KSF Pittsburgh-Area Industrial Plant"},"content":{"rendered":"
\"\"<\/a>

The 464,700-square-foot industrial building is a highly desirable asset for a manufacturer, noted Phoenix Investors Chairman & Founder, Frank Crivello. Image courtesy of Phoenix Investors<\/em><\/p><\/div>\n

Phoenix Investors<\/strong> has purchased Joy Plant 1, a 464,700-square-foot industrial property in Franklin, Pa. Joy Global<\/strong>\u2014which is owned by\u00a0Komatsu Mining Corp.<\/strong>\u2014sold the asset, public records show.\u00a0The property was occupied by the seller and was used for heavy equipment manufacturing.<\/p>\n

The facility is at 325 Buffalo St. Clear heights vary from 28 feet in the manufacturing area to 44 feet in the warehouse space. Other features include seven dock doors, 10 drive-in doors, insulated metal panel walls, a 17,000-square-foot office component, reinforced concrete floors, 42 overhead cranes with capacities up to 40 tons and 525 surface spots spread across two main lots.<\/p>\n

Joy Plant 1 is a 47-acre property that allows for access to major transportation routes such as state routes 62 and 322. It is also near another Komatsu Mining Corp. property at 120 Liberty St., as well as the Venango Regional Airport. Youngstown, Ohio, is 59 miles away, Erie, Pa. is 66 miles away, while Pittsburgh is roughly 72 miles away.<\/p>\n

The new owner plans to bring the facility online once more. Designed for heavy industrial engagement and with good equipment and infrastructure, the industrial property is a highly desirable asset for a manufacturer, noted Phoenix Investors Chairman & Founder Frank Crivello, in prepared statements.<\/p>\n

A growing national portfolio<\/h2>\n

Phoenix Investors has a track record of generating superior risk adjusted returns, providing cost-efficient lease rates for its growing portfolio and drive the reinvigoration of the economic engines within the communities it serves, Crivello said in a recent article<\/a> on Commercial Property Executive<\/em>. The company and its affiliates are specialized in the acquisition and repositioning of industrial manufacturing facilities in the United States.<\/p>\n

Recent additions to Phoenix Investors’ portfolio includes a 922,444-square-foot industrial facility<\/a> in St. Cloud, Minn. The property was used as a freezer manufacturing and production plan until late 2019 by seller Electrolux Group. In September, the company picked up a 5 million-square-foot industrial portfolio<\/a> and excess land sites totaling over 600 acres in North Carolina and Mississippi. The seller, United Furniture Industries, closed all business operations in late 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"

Joy Global sold the industrial property, used for surface and underground mining equipment.<\/p>\n","protected":false},"author":2991,"featured_media":1004457559,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,11,21742,1602],"tags":[37411],"class_list":["post-1004689010","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-midatlantic","category-latest","category-pittsburgh","tag-phoenix-investors"],"acf":[],"yoast_head":"\nPhoenix Investors Buys 465 KSF Pittsburgh-Area Industrial Plant - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Phoenix Investors purchased a 465,000-square-foot industrial property in Franklin, Pa., from from seller Joy Global.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/phoenix-investors-buys-465-ksf-pittsburgh-area-industrial-plant\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Phoenix Investors Buys 465 KSF Pittsburgh-Area Industrial Plant\" \/>\n<meta property=\"og:description\" content=\"Phoenix Investors purchased a 465,000-square-foot industrial property in Franklin, Pa., from from seller Joy Global.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/phoenix-investors-buys-465-ksf-pittsburgh-area-industrial-plant\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-08T13:32:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-08T13:32:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/06\/Frank-Crivello-Phoenix-Investors.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Simona Tudose\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phoenix-investors-buys-465-ksf-pittsburgh-area-industrial-plant\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/phoenix-investors-buys-465-ksf-pittsburgh-area-industrial-plant\/\",\"name\":\"Phoenix Investors Buys 465 KSF Pittsburgh-Area Industrial Plant - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phoenix-investors-buys-465-ksf-pittsburgh-area-industrial-plant\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phoenix-investors-buys-465-ksf-pittsburgh-area-industrial-plant\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/06\/Frank-Crivello-Phoenix-Investors.jpg\",\"datePublished\":\"2023-11-08T13:32:34+00:00\",\"dateModified\":\"2023-11-08T13:32:36+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4\"},\"description\":\"Phoenix Investors purchased a 465,000-square-foot industrial property in Franklin, Pa., from from seller Joy Global.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phoenix-investors-buys-465-ksf-pittsburgh-area-industrial-plant\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/phoenix-investors-buys-465-ksf-pittsburgh-area-industrial-plant\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phoenix-investors-buys-465-ksf-pittsburgh-area-industrial-plant\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/06\/Frank-Crivello-Phoenix-Investors.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/06\/Frank-Crivello-Phoenix-Investors.jpg\",\"width\":800,\"height\":620,\"caption\":\"Frank Crivello, Chairman & Founder, Phoenix Investors. 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