Anthony Crivello, EVP with Phoenix Investors Anthony Crivello, EVP with PhoenixInvestors

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WEST MIFFLIN, PA—An affiliate of Phoenix Investors of Milwaukeehas acquired the approximately 625,000-square-foot formerContinental Can industrial facility here in this suburb ofPittsburgh.

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The property, originally built for Continental Can Company, iscurrently 70% leased to more than 20 tenants. No financial terms ofthe transaction were disclosed. Senior mortgage financing wasprovided by AmeriServ Financial. The transaction was brokered byJohn Jackson and Evan Cicirello of Grant Street Associates, Inc.,an affiliate of Cushman & Wakefield.

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Anthony Crivello, EVP with Phoenix Investors, reports that thevacant space will be marketed to new users for lease. "We willimplement numerous capital and cosmetic improvements to theproperty in short order. The property will be materially moreattractive and functional to new users," he adds.

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The property features a concrete/block foundation, average clearheights of 24-feet, 57 overhead loading doors, varying columnspacing and ample restrooms throughout the premises.

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West Mifflin Borough is located in Allegheny County, southwestof the City of Pittsburgh. It is located within eight miles toDowntown Pittsburgh, six miles to the I-376 Interchange, two milesto Route 51 and three miles from the future Mon Fayette ExpresswayDravosburg Interchange.

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In January, an affiliate of Phoenix Investors acquired anapproximately 1.4-million square-foot industrial facility locatedat 3456 Meyers Road in Memphis. The property was vacant at the timeof purchase. Originally built in 1973 with an addition in 1981, thefacility is a Class B former distribution center for Sears.

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In June 2019, Phoenix Investors increased its overall portfolioto 27 million square feet in 25 states with the purchase ofthree industrial properties in Galesburg and Decatur,IL totaling 1.8 million square feet.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.