Phoenix Investors Buys Two Industrial Properties Totaling 1.1 MSF in Illinois, Tennessee

by Kristin Harlow

MOUNT MORRIS, ILL. AND COVINGTON, TENN. — Milwaukee-based Phoenix Investors has purchased two industrial properties formerly occupied by printing company Quad Graphics, including one in Mount Morris, for a combined $13.5 million. The Mount Morris facility features 586,706 square feet and is located at 404 N. Wesley Ave., about 30 miles southwest of Rockford. The property features 24 loading docks, two drive-in doors and rail access to BNSF. Phoenix also acquired a 523,010-square-foot property in Covington, Tenn. Phoenix purchased the properties from Industrial Realty Group. Both properties have existing tenants in place.

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