HUNTSVILLE, Ala., April 26, 2021 /PRNewswire/ — An affiliate of Phoenix Investors («Phoenix«), a national private commercial real estate firm headquartered in Milwaukee, Wisconsin, announced the acquisition of the Technicolor Campus in Huntsville, Alabama. The buildings are located at 4905 Moores Mill Road and span 1,378,000 square feet on approximately 161 acres.
Located in the second largest and second-most populous city of Alabama, the Technicolor Campus has an established history of successful manufacturing, warehousing, and distribution fulfillment. The properties enjoy a centralized location with accessibility to both major highways and interstates or commercial air service by way of Huntsville International Airport, Birmingham International Airport, and Nashville Airport, making it an optimal location for continued manufacturing, warehousing, and e-commerce fulfillment uses.
The industrial buildings were historically used for disc manufacturing, packaging, and distribution, with the following breakdown: 916,000 square feet in warehouse and distribution space, 425,000 square feet in manufacturing and production space, and 30,000 square feet of office space. The first phase of improvements was constructed in 1979, followed by substantial renovations and expansions in 1995, 2001, and 2007. Improvement features include finished office space, 27 – 42′ clear heights, 50 docks, six drive-in doors, and robust infrastructure and power.
«The Technicolor Campus has been a focal point in Huntsville for years. Its location is highly desirable to industrial users and the real estate quality is first class,» said Frank Crivello, Phoenix’s Chairman and Founder.
«Technicolor will exit the properties in August,» said Anthony Crivello, Executive Vice President of Phoenix. «This week our formal marketing of the space will begin. These buildings are in excellent condition and are move-in ready. We already have received numerous inquiries from parties interested in leasing all or portions of the premises.»
«We entered the Huntsville industrial market with our purchase four years ago of the former Chesebrough-Pond’s manufacturing plant which we have successfully repositioned,» said David Marks, President & CEO of Phoenix. «We have identified Huntsville as a market poised for continued long-term growth and strong industrial demand. With limited modern big-box, high-bay space available in the marketplace, we expect a strong tenant response to this campus coming onto the marketplace for lease.»
The transaction was brokered by Daniel Stubbs, Sr. Vice President and Partner, Binswanger.
About Phoenix Investors
Phoenix Investors is a national commercial real estate firm based in Milwaukee, WI whose core business is the revitalization of former manufacturing facilities throughout the United States. This strategy leads to positively transforming communities and restarting the economic engine in the communities we serve.
Phoenix’s affiliate companies hold interests in industrial, retail, office, and single tenant net-leased properties in approximately 39 million square feet, spanning 23 states. NREI’s most recent survey ranked Phoenix Investors as having the 28th largest total industrial real estate portfolio in the United States. Today, Phoenix principally specializes in the renovation and repositioning of large, former single tenant industrial facilities throughout the United States that were previously owned by major corporate clients, REITs, or financial institutions.
For more information, please visit https://phoenixinvestors.com.
SOURCE Phoenix Investors