{"id":1004702328,"date":"2024-02-14T03:03:08","date_gmt":"2024-02-14T11:03:08","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004702328"},"modified":"2024-02-20T09:18:30","modified_gmt":"2024-02-20T17:18:30","slug":"phoenix-investors-buys-virginia-industrial-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/phoenix-investors-buys-virginia-industrial-asset\/","title":{"rendered":"Phoenix Investors Buys Virginia Industrial Asset"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><img decoding=\"async\" data-attachment-id=\"1004702329\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/phoenix-investors-buys-virginia-industrial-asset\/1-walker-rd\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/1-walker-rd-e1722519766302.jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"1 walker rd\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;1 Walker Rd. in Martinsville, Va. Image courtesy of Phoenix Investors&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/1-walker-rd-e1722519766302.jpg?w=800\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/1-walker-rd.jpg?w=800\" alt=\"\" class=\"wp-image-1004702329\" style=\"width:333px;height:auto\"\/><figcaption class=\"wp-element-caption\">The facility at 1 Walker Road in Martinsville, Va., came online in the 1970s. <em>Image courtesy of Phoenix Investors<\/em><\/figcaption><\/figure><\/div>\n\n\n<p><strong>Phoenix Investors <\/strong>has acquired an 813,000-square-foot industrial facility in Martinsville, Va. <strong>Resurgence Properties <\/strong>sold the asset.<\/p>\n\n\n\n<p>The building, located on a 53-acre site at 1 Walker Road, formerly housed Bassett-Walker Textile, the outerwear garment manufacturer. <\/p>\n\n\n\n<p>\u201cWe own several industrial assets within proximity to Martinsville,\u201d Frank P. Crivello, founder &amp; chairman of Phoenix, told <em>Commercial Property Executive.<\/em> \u201cThere is an acute shortage of quality space and many of our existing clients have requirements in the region. We anticipate the available space leasing up quickly.\u201d<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/top-5-markets-for-industrial-transactions-4\/\">Top 5 Markets for Industrial Transactions<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>Phoenix plans on undergoing capital improvements at the 1970s-completed facility. The fully fenced property currently features six dock doors, four grade-level drive-in doors and more than 200 car parking spots.<\/p>\n\n\n\n<p>With more than 700,000 square feet of warehouse and office space available, future tenants have flexible configuration options as well as the possibility for multiple smaller suites. <strong>Newmark <\/strong>is marketing the facility for lease.<\/p>\n\n\n\n<p>The property is near U.S. Route 220 and 11 miles from Blue Ridge Airport. The North Carolina border is 10 miles away.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-phoenix-investors-recent-activity\">Phoenix Investors\u2019 recent activity<\/h2>\n\n\n\n<p>Phoenix Investors specializes in the acquisition, renovation and releasing of former manufacturing facilities in&nbsp;the U.S. The firm&#8217;s affiliate companies hold equity interests in some 76 million square feet of industrial space across 29 states.<\/p>\n\n\n\n<p>In December, Phoenix purchased a 785,000-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/phoenix-investors-affiliate-buys-785-ksf-memphis-facility\/\">Memphis, Tenn., industrial facility<\/a>. The property formerly housed an appliance manufacturer until 2022.<\/p>\n\n\n\n<p>Also late last year, the company acquired <a href=\"https:\/\/www.commercialsearch.com\/news\/phoenix-investors-buys-465-ksf-pittsburgh-area-industrial-plant\/\">Joy Plant 1<\/a> in Franklin, Pa. The 464,700-square-foot asset was occupied by the seller and used for heavy equipment manufacturing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 813,000-square-foot property previously housed an outerwear manufacturer.<\/p>\n","protected":false},"author":3006,"featured_media":1004702329,"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],"tags":[50999,37411],"class_list":["post-1004702328","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-midatlantic","category-latest","tag-newmark","tag-phoenix-investors"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Phoenix Investors Buys Virginia Industrial Asset - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Phoenix Investors has acquired a 813,000-square-foot industrial facility in Martinsville, Va., from Resurgence Properties.\" \/>\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-virginia-industrial-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Phoenix Investors Buys Virginia Industrial Asset\" \/>\n<meta property=\"og:description\" content=\"Phoenix Investors has acquired a 813,000-square-foot industrial facility in Martinsville, Va., from Resurgence Properties.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/phoenix-investors-buys-virginia-industrial-asset\/\" \/>\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=\"2024-02-14T11:03:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-20T17:18:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/1-walker-rd.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=\"Jordana Rothberg\" \/>\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-virginia-industrial-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/phoenix-investors-buys-virginia-industrial-asset\/\",\"name\":\"Phoenix Investors Buys Virginia Industrial Asset - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phoenix-investors-buys-virginia-industrial-asset\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phoenix-investors-buys-virginia-industrial-asset\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/1-walker-rd-e1722519766302.jpg\",\"datePublished\":\"2024-02-14T11:03:08+00:00\",\"dateModified\":\"2024-02-20T17:18:30+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/366883c93fc1efde412301ab6a4570f9\"},\"description\":\"Phoenix Investors has acquired a 813,000-square-foot industrial facility in Martinsville, Va., from Resurgence Properties.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phoenix-investors-buys-virginia-industrial-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/phoenix-investors-buys-virginia-industrial-asset\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phoenix-investors-buys-virginia-industrial-asset\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/1-walker-rd-e1722519766302.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/1-walker-rd-e1722519766302.jpg\",\"width\":800,\"height\":600,\"caption\":\"1 Walker Rd. in Martinsville, Va. 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