Phoenix Investors Acquires Former Electrolux Property
ST. CLOUD (WJON News) - An investment group based in Wisconsin has acquired the former Electrolux manufacturing complex in St. Cloud.
A news release from Milwaukee-based Phoenix Investors says an affiliate has acquired the more than 922,000-square-foot property that was home to the Electrolux upright freezer manufacturing center until 2019.
In January of 2019, Officials from Electrolux announced they would close the plant later that year. The lines stopped production on November 1st, and most of the employees were laid off at that time. The plant has remained vacant ever since.
Situated on more than 50 acres along 33rd Avenue in St. Cloud, the property boasts office and warehouse space, 31 dock doors, 9 drive-ins, and more than 980 parking stalls.
Representatives from the company were not immediately available for comment, but Phoenix Investors’ website claims they are the leading expert in the acquisition, renovation, and release of former manufacturing facilities with property in 29 states.
St. Cloud Mayor Dave Kleis is quoted in the news release.
We're very excited about this opportunity to put the vacant, underutilized property into reinvestment and reuse for quality tenants that can result in greater tax base and employment opportunities in St. Cloud. This property's been of interest to several industrial prospects since then, and we look forward to working with a newly engaged long-term property owner. This property is one of the largest available industrial facilities in Greater Minnesota and is located just 1 hour from the Minneapolis-Saint Paul 494/694 split.
Anthony Crivello is the Executive Vice President and Managing Director of Phoenix Investors.
We are thrilled to add this excellent industrial facility to our portfolio and looking forward to seeing what reopening this property will do for the St. Cloud community. This property will prove to be a great opportunity for businesses looking for high-quality industrial space, especially as it can be leased immediately.
The Phoenix Investors team is actively showing the property, but no details on interested tenants are available. For more information, or for a tour of the property, find the details here.
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