Phoenix Investors Acquires 2 MSF Distribution Center in Wauwatosa, Wisconsin for $31.2M

WAUWATOSA, WIS. — An affiliate of Phoenix Investors has acquired the JCPenney Logistics Warehouse and Furniture Outlet Center for $31.2 million. JCPenney sold the 2 million-square-foot property, which is located at 18000 W. Burleigh St. in Wauwatosa, just west of Milwaukee. The buildings are situated adjacent to Interstate 45 and feature 100 loading docks. The first buildings were constructed in the 1950s. JCPenney has made regular improvements to the buildings and infrastructure over the years. Phoenix plans to renovate the property, both structurally and cosmetically.