AFFILIATE OF PHOENIX INVESTORS ACQUIRES FUJIFILM CAMPUS IN GREENWOOD, SOUTH CAROLINA

Acquisition spans more than 2.7 million square feet over 500 acres

GREENWOOD, S.C., Dec. 14, 2022 /PRNewswire/ -- An affiliate of Phoenix Investors ("Phoenix") announced the acquisition of the FUJIFILM ("Fujifilm") North American Campus in Greenwood, South Carolina. Home to FUJIFILM Manufacturing U.S.A., Inc. since 1988, the property spans more than 2.7 million square feet over 500 acres. Fujifilm has leased back approximately 50% of the Campus.

Constructed in a tier-one manner over the span of 17 years from 1988 through 2005, the Campus is comprised of 11 buildings ("Buildings") and has heavy power and infrastructure. The Buildings are ideal for manufacturing and logistics, featuring clear heights ranging up to 72 feet, 142 dock doors, approximately 17 drive-in doors, and over 2,000 parking spaces. Approximately 1.4 million square feet of space will be marketed for lease to new tenants.

"We were pleased to complete our acquisition of Fujifilm's Greenwood Campus," said Frank Crivello, Founder and Chairman of Phoenix Investors. "Fujifilm is a world-class company; the Buildings were built to its high standards and impeccably maintained over their lifetime in the same manner. We are excited to make this Campus our first of many future acquisitions in South Carolina to support the needs of our growing tenant base."

Fujifilm will keep over 300 employees at the Greenwood site for manufacturing and administrative purposes. "We look forward to working with Phoenix Investors to create a productive and enjoyable working environment for our valued employees," said Jun Higuchi, President of the FUJIFILM Holdings America Corporation, President and CEO of the FUJIFILM North America Corporation, and Chairman of the FUJIFILM Healthcare Americas Corporation.

"For over the last twelve years, we have successfully redeveloped single-tenant manufacturing campuses like this one into successful multi-tenant facilities," said David Marks, President and CEO of Phoenix Investors. "The result will be a win-win outcome for Fujifilm, our new industrial tenants, the local Greenwood community, and Phoenix Investors. It was a pleasure working with the Fuji team on finding a creative solution to allow Fuji to continue to operate with a smaller footprint within the Campus while making high-quality industrial space available to new potential employers within the region."

The transaction was brokered by James Medbery, Doug Faris, and Shaun Kirchin of Binswanger.

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. Our reconstruction and selective deconstruction of facilities provides a green alternative versus the standard demolition and replacement of legacy buildings. Phoenix's affiliate companies hold equity interests in a portfolio of industrial properties totaling approximately 61 million square feet spanning 29 states, delivering corporations with a cost-effective national footprint to dynamically supply creative solutions to meet their leasing needs.

For more information, please visit https://phoenixinvestors.com.

SOURCE Phoenix Investors