MCKEESPORT, Pa., Oct. 18, 2021 /PRNewswire/ -- An affiliate of Phoenix Investors ("Phoenix") announced the acquisition of 200 28th St, McKeesport, PA. This acquisition marks the second acquisition for Phoenix Investors in the Pittsburgh industrial market.
Located in a suburban industrial zone, the warehouse located on 36 acres, boasts 55 dock doors, a fenced lot, 24-hour security, and convenient proximity to bus lines. The property, built in 1963, was renovated in 2005 and most recently in 2018; it is located approximately 35 miles southeast of Pittsburgh International Airport with easy access to the Pennsylvania Turnpike (I-76) and I-70.
Phoenix expects to immediately commence upgrades to the facility to accommodate new tenant occupancy and market the available space for lease.
"We welcome this investment in the City of McKeesport. I am looking forward to working together with Phoenix in the future," said A.J. Tedesco, Director of Community Development, City of McKeesport.
"We are excited to have a continued interest and opportunity for investment along McKeesport's Walnut Street corridor," Mayor Michael Cherepko said. "In becoming a part of our business community, Phoenix Investors is helping Magic Creations continue its operation while making room for new business opportunities on the property."
"The subject property is a great compliment to our project in West Mifflin, Pennsylvania," said Frank Crivello, Phoenix Investors' Founder & Chairman. "The property's location in a thriving industrial market makes this acquisition especially valuable."
The transaction was brokered by Ned Shekels, Senior Vice President, Pennsylvania Commercial Real Estate, Inc.
About Phoenix Investors
Phoenix Investors is a national commercial real estate firm based in Milwaukee, Wisconsin. Phoenix's affiliate companies hold interests in industrial, retail, office, and single tenant net-leased properties in approximately 46 million square feet, spanning 28 states. Its 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.
For more information, please visit https://phoenixinvestors.com.
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SOURCE Phoenix Investors