PHOENIX INVESTORS ACQUIRES INDUSTRIAL FACILITY IN FRANKLIN, PA

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FRANKLIN, Pa., Nov. 2, 2023 ~ Phoenix Investors, an affiliate of Phoenix Investors, has announced the acquisition of an industrial building located at 345 Buffalo Street in Franklin, Pennsylvania. The 465,000-square-foot facility includes 42 overhead cranes with capacities up to 40 tons, 7 dock doors, 10 drive-in doors and clear heights up to 44 feet. It is situated on 47.05 acres and boasts 525 surface spots spread across two main lots.

The facility features valuable frontage on Buffalo Street, 6th Street, 4th Street, 3rd Street and Liberty Street. It is conveniently located just 16 miles north of I-80, 20 miles east of I-79, 66 miles from Erie and 72 miles from Pittsburgh.

Constructed in 1970, the facility was formerly home to Joy Global which was acquired by Komatsu Mining Corporation in 2016. Phoenix currently owns 8 facilities in Pennsylvania and maintains holdings in surplus of 3.6 million square feet throughout the state.

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Frank Crivello, Chairman & Founder of Phoenix Investors said: "Not only does this property have great bones and heavy industrial infrastructure, the existing power and cranes are highly desirable for a manufacturer." He added that investing in communities like Franklin exemplifies their mission and philosophy at Phoenix Investors.

City Manager & City Clerk Tracy L. Jamieson said: "The City of Franklin is beyond excited to see Joy Plant 1 become productive again." She added that they are thankful to Phoenix Investors for its strategic vision and Komatsu for keeping the building heated and maintained so that this new chapter is possible.

For more information or to schedule a tour of the property please get in touch with the Phoenix team at https://phoenixinvestors.com/contact
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