Phoenix Investors Acquires 815 KSF Arkansas Portfolio
An affiliate of Phoenix Investors has acquired three industrial properties and a solar farm in Nashville, Ark., totaling more than 815,000 square feet. Machine industry company Husqvarna sold the assets.
Phoenix Investors plans to implement a capital improvement plan to attract high-quality tenants.
In July 2023, Husqvarna announced the closure of its Nashville manufacturing facilities as part of a broader strategy to streamline operations and minimize its carbon footprint. The phase-out of these properties is scheduled to be finished by the end of this year.
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The property at 630 Highway 27 Bypass is a 351,763-square-foot Class A facility completed in 2017. It has 25 dock-high loading doors, 37-foot clear heights, 488 parking spaces and about 4,240 square feet of office space. It is some 3 miles from downtown Nashville.
The company also purchased the 299,885-square-foot building at 1 Poulan Drive, which has 16 dock doors, a kitchen area and a 6,600-square-foot cafeteria. The 1976-completed property also has clear heights up to nearly 37 feet.
The third property is a 165,046-square-foot warehouse constructed in 1998 and 2000 on almost 50 acres. It has 12 dock doors and 12 overhead doors, 4,320 square feet of office space and a 22,998-square-foot shop. Additionally, the property has an onsite solar farm with a capacity of 0.7 megawatts.
Phoenix Investors expands footprint nationwide
With this purchase, the buyer’s total national inventory consists of more than 78 million square feet across 29 states. The company focuses on the acquisition, renovation and releasing of former manufacturing facilities.
In February, the company acquired an 813,000-square-foot facility in Martinsville, Va., from Resurgence Properties. That building came online in the 1970s and formerly housed Bassett-Walker Textile.
At the end of last year, an affiliate of Phoenix Investors purchased a 785,000-square-foot industrial property in Memphis, Tenn. Electrolux sold the asset, after it ceased production at the facility in 2022.
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