UNION CITY, Tenn., Oct. 9, 2024 /PRNewswire/ -- An affiliate of Phoenix Investors ("Phoenix"), a national leader in the revitalization of former manufacturing facilities, announced the acquisition of a large industrial complex in Union City, Tennessee. The property, located at 600 E Sherwood Drive, was previously owned by MVP Group International. This strategic acquisition adds over 411,000 square feet to Phoenix's portfolio, which now exceeds 78 million square feet nationwide.
MVP Group International is a global leader in home fragrance and is one of the world's largest manufacturers and distributors of private label scented candles with additional expertise in contract manufacturing.
The property is situated on 34 acres of land and features a total of 411,489 square feet, which includes nearly 398,000 square feet of warehouse space, 13,500 square feet of office space, and a 2,200-square-foot breakroom. Built in 1985 and renovated as recently as 1995, the building also features 18 dock doors, clear heights up to 28 feet, 2 compressors, and an extensive racking system. Ideally positioned directly on US Highway 51, the property serves as a convenient midpoint between Nashville, Memphis, and St. Louis. The property is zoned for both Planned Industrial and Intermediate Business.
Phoenix plans to implement a capital improvement plan to attract high-quality industrial users to the area. "We're excited to be working with Union City and Obion County to repurpose this facility," said Phoenix Investors Founder & Chairman Frank Crivello of the acquisition. "We look forward to revitalizing the property and bringing a renewed sense of growth and opportunity to Union City and the surrounding communities."
Anyone with leasing inquiries is encouraged to reach out to Phoenix Investors Assistant VP, Acquisition & Leasing Luke Herder at (262) 470-6124.
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.
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SOURCE Phoenix Investors
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