PHOENIX INVESTORS ACQUIRES FORMER HUSQVARNA CAMPUS

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Jul 31, 2024, 09:00 ET

Acquisition includes three industrial facilities in Nashville, Arkansas.

NASHVILLE, Ark., July 31, 2024 /PRNewswire/ -- An affiliate of Phoenix Investors ("Phoenix"), a national leader in the revitalization of former manufacturing facilities, announced the acquisition of three industrial properties and a solar farm in Nashville, Arkansas. These properties, located at 630 Hwy 27 Bypass, 1 Poulan Drive, and 139 Old Airport Road, were previously owned by Swedish manufacturing giant Husqvarna. This strategic acquisition adds over 815,000 square feet to Phoenix's portfolio, which now exceeds 78 million square feet nationwide.

Husqvarna, renowned for its high-quality lawnmowers, trimmers, gardening tools, and chainsaws, decided to close its Nashville-based plants in July 2023 as part of a broader strategy to consolidate operations and reduce its carbon footprint. The company plans to complete the phase-out of these properties by the end of 2024.

Andreas Rangert, President of Husqvarna Forest & Garden, NA shared, "We're proud to partner with an experienced real estate firm so dedicated to transforming manufacturing facilities. We trust Phoenix Investors will bring significant growth and opportunity to Nashville, AR and its community."

The acquisition includes three high-quality buildings available for lease to new users:

630 Hwy 27 Bypass: This 351,763-square-foot Class A facility, constructed in 2017, features 4,240 square feet of office space, 25 dock doors, clear heights of 37' 4", and 488 parking spaces.
1 Poulan Drive: Spanning 299,885 square feet on 101.82 acres, this facility, built in 1976, includes 16 dock doors, clear heights up to 36' 8", a 6,600-square-foot cafeteria, and a kitchen area.
139 Old Airport Road: Just five miles north, this 165,046-square-foot property sits on 49.76 acres. Constructed in 1998 and 2000, it includes a 22,998-square-foot shop, 4,320 square feet of office space, 12 dock doors, 12 overhead doors, additional land for expansion, and an onsite solar farm with a capacity of +/- 0.7 MW.

"The City of Nashville and I are excited to be working with Phoenix Investors on filling the Husqvarna facility. We look forward to all the opportunities ahead," said Nashville Mayor Larry Dunaway. "The City of Nashville is committed to helping bring new industry and jobs to our area."

"On behalf of Developing Howard County, I am pleased to welcome Phoenix Investors to Nashville," said Vanessa Weeks, Howard County Economic Development Director. "Their acquisition of the Husqvarna facility means we gained a strong partner as we continue to aggressively market and recruit industries to our community. I look forward to working with them in the weeks ahead."

Phoenix plans to implement a capital improvement plan to attract high-quality industrial users to the area. "Plant closures are always challenging for a community," said Frank P. Crivello, Founder & Chairman of Phoenix Investors. "Our mission is to revitalize these facilities and bring new opportunities to the people of Nashville."

Anyone with leasing inquiries is encouraged to reach out to Phoenix Investors Senior VP, Acquisition & Leasing Kurt Jensen at 414-269-5183.

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.

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

SOURCE Phoenix Investors