(Beloit, WI) An affiliate of Phoenix Investors, LLC broke ground earlier this spring on a 500,000 SF building in the City's Gateway Business Park. The space, which is expected to be delivered to the market by year-end, will have the functionality to serve as either a single-or-multi-tenant building. Property features include, but are not limited to: precast concrete walls, 32 foot clear height, 50' x 60' columns, eight-inch concreate floors, high-efficiency LED lighting, ESFR fire suppression and ample dock-and-drive-in-doors.
Founded in 1994, Milwaukee-based Phoenix Investors has real estate holdings in 29 states that total 52 million square feet. As a leader in the acquisition, development, renovation and repositioning of industrial facilities throughout the U.S., Phoenix has other investments in the Janesville-Beloit MSA, as well.
Corporate Contractors, Inc., which is headquartered in Beloit and is serving as the project's general contractor, has constructed several buildings in the Gateway Business Park. The Park, which celebrated its 20th anniversary last fall, will soon have a tenant portfolio that has more than 4 million square feet and a corresponding assessment value greater than $400 million. To facilitate these developments, support has been provided by the City of Beloit and the Greater Beloit Economic Development Corporation
According to James Otterstein, Rock County Economic Development Manager, "The appetite for Class A industrial and warehousing space within the I-39/90 and I-43 Corridor remains extremely active - especially for large, multi-purpose buildings."