Phoenix Investors Buys Industrial Property in Newport News
Phoenix Investors has acquired a 378,000-square-foot industrial property in Newport News, Virginia. The facility is located adjacent to the airport and offers significant expansion potential.
An affiliate of Phoenix Investors has purchased a 378,331-square-foot industrial property located at 615 Bland Boulevard in Newport News, Virginia. The facility sits on approximately 27.4 acres and is positioned near the Newport News/Williamsburg International Airport and Interstate 64.
The property, formerly operated by Continental's Vitesco Technologies division, is situated in a core industrial market with a high concentration of defense, shipbuilding, and advanced manufacturing activities. The area provides access to a skilled labor force and is in proximity to several military installations.
Originally constructed in 1971, the facility is suitable for manufacturing users. It features full climate control, robust electrical service, and multiple loading docks. The site also includes substantial excess land for potential expansion, outdoor storage, or trailer parking.
Phoenix Investors intends to reposition the property through capital improvements focused on reconfiguring the building's layout, loading areas, and upgrading systems to meet the needs of modern manufacturers.