Acquisition includes three industrial
facilities in Nashville,
Arkansas.
NASHVILLE, Ark., July 31,
2024 /PRNewswire/ -- An affiliate of Phoenix
Investors ("Phoenix"), a national
leader in the revitalization of former manufacturing facilities,
announced the acquisition of three industrial properties and a
solar farm in Nashville, Arkansas.
These properties, located at 630 Hwy 27 Bypass, 1 Poulan Drive, and
139 Old Airport Road, were previously owned by Swedish
manufacturing giant Husqvarna. This strategic acquisition adds over
815,000 square feet to Phoenix's
portfolio, which now exceeds 78 million square feet nationwide.
Husqvarna, renowned for its high-quality lawnmowers, trimmers,
gardening tools, and chainsaws, decided to close its Nashville-based plants in July 2023 as part of a broader strategy to
consolidate operations and reduce its carbon footprint. The company
plans to complete the phase-out of these properties by the end of
2024.
Andreas Rangert, President of Husqvarna Forest & Garden, NA
shared, "We're proud to partner with an experienced real estate
firm so dedicated to transforming manufacturing facilities. We
trust Phoenix Investors will bring significant growth and
opportunity to Nashville, AR and
its community."
The acquisition includes three high-quality buildings available
for lease to new users:
- 630 Hwy 27 Bypass: This 351,763-square-foot Class A
facility, constructed in 2017, features 4,240 square feet of office
space, 25 dock doors, clear heights of 37' 4", and 488 parking
spaces.
- 1 Poulan Drive: Spanning 299,885 square feet on
101.82 acres, this facility, built in 1976, includes 16 dock doors,
clear heights up to 36' 8", a 6,600-square-foot cafeteria, and a
kitchen area.
- 139 Old Airport Road: Just five miles north, this
165,046-square-foot property sits on 49.76 acres. Constructed in
1998 and 2000, it includes a 22,998-square-foot shop, 4,320 square
feet of office space, 12 dock doors, 12 overhead doors, additional
land for expansion, and an onsite solar farm with a capacity of +/-
0.7 MW.
"The City of Nashville and I
are excited to be working with Phoenix Investors on filling the
Husqvarna facility. We look forward to all the opportunities
ahead," said Nashville Mayor
Larry Dunaway. "The City of Nashville is committed to helping
bring new industry and jobs to our area."
"On behalf of Developing Howard County, I am pleased to welcome
Phoenix Investors to Nashville,"
said Vanessa Weeks, Howard County
Economic Development Director. "Their acquisition of the Husqvarna
facility means we gained a strong partner as we continue to
aggressively market and recruit industries to our community. I look
forward to working with them in the weeks ahead."
Phoenix plans to implement a
capital improvement plan to attract high-quality industrial users
to the area. "Plant closures are always challenging for a
community," said Frank P. Crivello,
Founder & Chairman of Phoenix Investors. "Our mission is to
revitalize these facilities and bring new opportunities to the
people of Nashville."
Anyone with leasing inquiries is encouraged to reach out to
Phoenix Investors Senior VP, Acquisition & Leasing Kurt Jensen
at 414-269-5183.
About Phoenix Investors
Phoenix Investors is the leading expert in the acquisition,
renovation, and releasing of former manufacturing facilities in
the United States. The
revitalization of facilities throughout the continental
United States leads to positively
transforming communities and restarting the economic engine in the
communities we serve. Phoenix's
affiliate companies hold equity interests in a portfolio of
industrial properties totaling approximately 78 million square feet
spanning 29 states, delivering corporations with a cost-effective
national footprint to dynamically supply creative solutions to meet
their leasing needs.
For more information, please visit
https://phoenixinvestors.com.
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SOURCE Phoenix Investors