Milwaukee’s Phoenix Investors buys industrial facility in Arkansas

Listen to this article

Milwaukee-based Phoenix Investors bought more than 815,000 square feet of industrial property in Arkansas.

The commercial real estate agency, which it said is a national leader in bringing industrial facilities back to life, announced Wednesday it bought three properties previously owned by Sweden-based manufacturer Husqvarna.

The properties are at 630 Highway 27 Bypass, 1 Poulan Drive and 139 Old Airport Road in Nashville, Ark. The details of the deal weren’t immediately available.

Husqvarna, known for making lawnmowers, chainsaws, trimmers and gardening tools, closed its Nashville plants in July 2023 to reduce its carbon footprint, officials said. The properties will be completely phased out by 2024, officials added.

“We’re proud to partner with an experienced real estate firm dedicated to transforming manufacturing facilities,” said Andreas Rangert, president of Husqvarna’s forest and garden wing in North America. “We trust Phoenix Investors will bring significant growth and opportunity to Nashville and its community,” he added.

The agency said the buildings will be ready for new leases.

• 630 Hwy 27 Bypass: The 351,763-square-foot Class A facility was built in 2017 and features 4,240 square feet of office space. There are 25 dock doors and 488 parking spaces
• 1 Poulan Drive: The building has 299,885 square feet on 101.82 and was built in 1976. There are 16 dock doors, a 6,600-square-foot cafeteria and a kitchen
• 139 Old Airport Road: The 165,046-square-foot property sits on 49.76 acres is five miles north of the Poulan Drive location. The building was constructed in 1998 and 2000 and includes a 22,998-square-foot shop. There are 4,320 square feet of office space, 12 dock doors, 12 overhead doors, land for expansion and an onsite solar farm with capacity of +/- 0.6 megawatts.

Phoenix plans to start a capital improvement plan to attract high-quality industrial users to the area, officials said.

“Plant closures are always challenging for a community,” said Frank Crivello, the founder and chairman of Phoenix Investors. “Our mission is to revitalize these facilities and bring new opportunities to the people of Nashville,” he added.

Nashville officials said they were looking forward to bringing in new industry and jobs to the area.
“The city of Nashville and I are excited to be working with Phoenix Investors on filling the Husqvarna facility,” said Nashville Mayor Larry Dunaway in a statement. “We look forward to all the opportunities ahead,” he added.

Vanessa Weeks, the economic development director of Howard County, said Phoenix’s acquisition of the Husqvarna facility “means we gained a strong partner as we continue to aggressively market and recruit industries to our community,” she added.