Phoenix Investors Acquires Industrial Property in Newport News
An affiliate of Phoenix Investors has acquired a large industrial property located at 615 Bland Boulevard in Newport News, Virginia. The site spans approximately 27 acres and includes over 378,000 square feet of space. Situated near the Newport News/Williamsburg International Airport and major transportation routes like I-64, it is well-positioned for manufacturing use due to its access to a skilled labor force and proximity to defense installations. Originally built in 1971, the property features climate-controlled environments, substantial electrical capacity, fire suppression systems, and ample parking. Phoenix plans significant capital improvements to modernize the facility's layout and infrastructure to better suit current manufacturing needs. The acquisition aligns with Phoenix Investors' strategy of revitalizing former industrial sites across the U.S. The transaction was facilitated by Grant Bates from Newmark, while leasing inquiries will be managed internally at Phoenix.
