Phoenix Investors Affiliates to Break Ground at Beloit Gateway Business Park

By   /  

Phoenix Investors (“Phoenix”), a national private commercial real estate firm headquartered in Milwaukee, Wisconsin, has acquired a 56.2-acre site in Beloit’s Gateway Business Park. Phoenix chose General Contractors, Inc. (CCI) to manage and provide construction services for the construction of a 500,000-square-foot speculative industrial warehouse for a future tenant.

Phoenix and CCI worked with the City of Beloit on the acquisition, with Jen Hall, City of Beloit Economic Development Director and GBEDC President & CEO, leading the negotiations.

Her prompt response to the developer, as well as her collaboration with community leaders, aided Phoenix in the site selection process.

The site represents an excellent opportunity for a future business seeking a new location: the availability of a spec building allows a prospective tenant to be at least 12 months ahead of schedule in establishing or relocating to a built facility.

The cutting-edge building design includes 52 loading docks, potential rail access, and a clear interior height of 32 feet.

CCI had to meet a tight deadline while dealing with poor subsoil and typography issues throughout the site. Because of the wet clay layers in the subsoil and the uneven topography of the site, innovative engineering solutions were implemented to accommodate drainage, level the site, and improve load-bearing strength.

Whereas other companies might have been hesitant to build in this location, Phoenix’s significant investment in overcoming site challenges made the project a reality.

The building will be built with precast concrete wall panels, structural steel joists, and a deck. Construction began in April 2022, with completion scheduled for late 2022.

A 100,000-square-foot section has already been prepped and is ready for concrete work. 500+ construction jobs will be created during the process, and future tenants may create up to 100+ local job opportunities.

“CCI is excited to partner with Phoenix Investors to build a cutting-edge industrial building in the Gateway Business Park,” CCI President Brad Austin said.

“They see the value of investing in the Beloit community and realize the significant potential businesses have to grow and prosper here.”

“Beloit’s location amid hubs like Milwaukee, WI; Madison, WI; Rockford, IL; and Chicago, IL, coupled with the facility we have planned make this property an incredible opportunity for the right tenant,” said Frank Crivello, Phoenix’s Founder and Chairman.

“We look forward to working with CCI and the City of Beloit in the coming months to complete this project and welcome many high-quality jobs to the area.”

Chris is our Texas contributor covering building products and home renovation.