Company to construct a state-of-the-art industrial facility.
BELOIT, Wis., June 2, 2022 /PRNewswire/ — An affiliate of Phoenix Investors (“Phoenix“), a national private commercial real estate firm headquartered in Milwaukee, Wisconsin, has acquired a 56.2-acre site within the Gateway Business Park in Beloit, Wisconsin. Phoenix selected general contracting firm Corporate Contractors, Inc (CCI) to manage and provide construction services to build a 500,000-square-foot speculative industrial warehouse intended for a future tenant.
Phoenix and CCI collaborated with the City of Beloit on the acquisition, with the negotiations led by Jen Hall, City of Beloit Economic Development Director and GBEDC President & CEO. Her timely response to the developer and her work with the community leaders aided Phoenix in the site selection process.
The site represents a prime opportunity for a future business looking for a new home: the availability of a spec building will allow a prospective tenant to be at least 12 months ahead of schedule in establishing themselves in or relocating to a built facility. The state-of-the-art building design includes 52 loading docks, potential rail access, and 32′ clear interior height.
CCI faced an expedited schedule requirement while addressing poor subsoil and typography challenges throughout the site. Due to layers of wet clay in the site’s subsoil and uneven topography, innovative engineering solutions were implemented to accommodate drainage, level the site, and improve load bearing strength. Where other companies may have been apprehensive about building at this location, the significant investment made by Phoenix to overcome site challenges made the project a possibility.
The facility will be constructed using precast concrete wall panels and structural steel joists and deck. The construction began in April 2022, with occupancy planned for late 2022. A section of approximately 100,000 square feet has already been prepped and is ready for concrete work. In the process, 500+ construction jobs will be created; future tenants may produce up to 100+ local job opportunities, as well.
“CCI is excited to partner with Phoenix Investors to build a cutting-edge industrial building in the Gateway Business Park,” said CCI President Brad Austin. “They see the value of investing in the Beloit community and realize the significant potential businesses have to grow and prosper here.”
“Beloit’s location amid hubs like Milwaukee, WI; Madison, WI; Rockford, IL; and Chicago, IL, coupled with the facility we have planned make this property an incredible opportunity for the right tenant,” said Frank Crivello, Phoenix’s Founder & Chairman. “We look forward to working with CCI and the City of Beloit in the coming months to complete this project and welcome many high-quality jobs to the area.”
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 52 million square feet, spanning 29 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.
Corporate Contractors, Inc. (CCI) is a leading general contracting firm based in southern Wisconsin. For more than four decades, CCI has offered clients unique insights and valued construction solutions on a vast number of projects of all types, sizes, and complexities. With project experience in industrial, commercial, education, multi-family, hospitality, healthcare, and more, the CCI team is passionate about providing thoughtful construction services.
Learn more by visiting https://www.cciwi.com.
SOURCE Phoenix Investors