Affiliates of Phoenix Investors has acquired a portfolio of four industrial properties from LEDVANCE totaling approximately 1,6 million square feet.
These former lighting company LEDVANCE plants are located in Versailles, Ky.; Winchester, Ky.; St. Marys, Pa.; and Wellsboro, Pa.
Ranging from approximately 165,000 square feet to 720,000 square feet, the facilities are well positioned for industrial redevelopment. Consistent with the requirement of prospective tenants, Phoenix’s capital improvement plan will be completed in the coming months. The available industrial and warehouse space is easily divisible and will be marketed for lease.
The Kentucky properties are located in the robust Lexington MSA. Limited industrial buildings in excess of 150,000 square feet are available within 30 miles of Lexington. The market fundamentals have historically been tight, having a market vacancy rate below 2 percent. Both of the Pennsylvania properties are also located in stro
