April 30, 2020

Former Westbury Bank Brand

Former Westbury Bank Brand

Phoenix Investors Sells Former Westbury Bank Brand to Village of Brown Deer

As reported on businessinsider.com

MILWAUKEE, Oct. 23, 2018 /PRNewswire/ — An affiliate of Phoenix Investors (“Phoenix“), a national private commercial real estate firm headquartered in Milwaukee, Wisconsin, announced that it sold the former Westbury Bank building located at 4301 West Brown Deer Road to the Village of Brown Deer. The building will become the new home of the Brown Deer Public Library; as well, the Village acquired two additional parcels from Phoenix that are currently used for overflow parking. These parcels will be land banked for future strategic development by the Village.

“Having purchased the former Westbury Bank branch in 2014, we were good stewards of these properties, investing in the extensive tenant buildout required by the US Government which resulted in the occupancy by the various branches of the US Armed Forces for recruitment.  Now, having the ability to facilitate the occupancy of the remainder of the building by the Brown Deer Public Library on the exit of our investment completes the revitalization process,” said Anthony Crivello, Executive Vice President.

“As Phoenix has demonstrated in the past, we continue to find ways to invest in the communities we serve.  In conjunction with the sale, we donated $1,500,000 to the Village of Brown Deer in support of the new public library,” said Frank P. Crivello, Chairman and Founder of Phoenix Investors.

About Phoenix Investors

Phoenix Investors is a national commercial real estate firm based in Milwaukee, Wisconsin whose core business is the revitalization of former distribution and manufacturing facilities throughout the United States. This strategy leads to positively transforming communities and restarting the economic engine in the communities we serve.

Phoenix’s affiliate companies hold interests in approximately 24 million square feet of industrial, retail, office, and single-tenant net-leased properties across 23 states. A 2018 survey conducted by National Real Estate Investor ranked Phoenix Investors as having the 28th largest national industrial real estate portfolio. Phoenix principally specializes in the renovation and repositioning of large, former single tenant industrial facilities throughout the United States that were previously owned by major corporate clients, REITs, or financial institutions.

For more information visit https://phoenixinvestors.com

Read the full press release here

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.

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