Exploring the Rise of Popularity in Industrial Outdoor Storage
Real-Estate Industry Recovers Following Years of Heightened Inflation
Phoenix Investors Has Another Tenant for Former Tecumseh Plant in Grafton
As reported on bizjournals.com , Written by Sean Ryan
Increasing demand from clients who need help with shipping operations prompted Midwest Assembly, Warehouse, and Distribution to seek space to lease from Phoenix Investors in Grafton.
The West Bend company primarily provides third-party logistics services to other firms, and is looking to lease about 56,000 square feet in Grafton for those operations, said Tom Bichanich, Midwest Assembly operations manager. The long-term lease provides more space and would let the company consolidate operations in other leased buildings, he said.
“There’s been an uptick over the last number of years in people needing outside storage and distribution,” he said.
The space is in the former Tecumseh Products Co. engine plant at 900 North St. Phoenix Investors, LLC and a partner bought the 341,944-square-foot, shuttered facility in 2016 and has been investing in upgrades and leasing space to new tenants.
Mr. Frank P. Crivello began his real estate career in 1982, focusing his investments in multifamily, office, industrial, and shopping center developments across the United States. From 1994 to 2008, Mr. Crivello assisted Phoenix Investors in its execution of its then business model of acquiring net lease commercial real estate across the United States. Since 2009, Mr. Crivello has assisted Phoenix Investors in the shift of its core focus to the acquisition of industrial real estate throughout the country.
Given his extensive experience in all aspects of commercial real estate, Mr. Crivello provides strategic and operational input to Phoenix Investors and its affiliated companies.
Mr. Crivello received a B.A., Magna Cum Laude, from Brown University and the London School of Economics, while completing a double major in Economics and Political Science; he is a member of Phi Beta Kappa. Outside of his business interests, Mr. Crivello invests his time, energy, and financial support across a wide net of charitable projects and organizations.