Phoenix Investors buys automaker facility in Milwaukee

A Milwaukee commercial real estate firm bought two facilities owned by automaker giant Stellantis in Milwaukee and Michigan.

Phoenix Investors on Monday announced they acquired a facility at 3280 S. Clement Ave. in Milwaukee and 840 Huron Blvd. in Marysville, Mich. Both buildings were owned by FCA US LLC, a subsidiary of Stellantis.

Formed in 2021, Stellantis owns brands such as Dodge, Chrysler and Jeep and offers parts, service and customer service through its Mopar division, officials said in a news release. Both the Milwaukee and Marysville campuses were Mopar parts distribution centers, officials added.

The Milwaukee property has 1,050,000 square feet on 43.53 acres with parking, restrooms and access to a Chicago & North Western rail spur, officials said. There are clear heights up to 21 feet, 40 docks, six drive-ins and office space for an ideal industrial complex, officials added.

In Marysville, the campus has 1,250,000 square feet on 101.5 acres with ample parking, expandable trailer parking and CSX rail access, officials said. The site has clear heights up to 36 feet, 64 expandable docks, 13 grade doors and 9,800 square feet of office space, officials added.

The acquisition adds around 2,300,000 square feet and more than 145 acres to Phoenix’s portfolio, which is more than 80 million square feet across the U.S., company officials said. As of closing, both buildings are 100% leased to Stellantis, officials added.

“Both properties are situated in prime locations,” said Anthony Crivello, executive vice president and managing director of Phoenix Investors. “We’re thrilled to add these properties to our growing portfolio and look forward to maintaining a strong presence in Wisconsin and Michigan. Collaborating with Stellantis was a pleasure, and we were happy to provide a win-win outcome for all parties,” he added.

Tony Avendt and Jeff Hoffman of Cushman & Wakefield brokered the transaction. It’s not clear yet how much Phoenix bought both facilities for.

Phoenix also bought a 56-acre industrial campus at 4701 W. Greenfield Ave. in West Milwaukee. The company paid $9 million for the property from motor manufacturer Regal Rexnord. In their announcement, Phoenix officials said some of the extra space could be used for commercial and residential development and were in early talks with the village.