Phoenix Investors is a privately held commercial real estate firm headquartered in Milwaukee, Wisconsin, founded in 1994 by Frank P. Crivello. Initially focused on acquiring net-leased commercial real estate across the United States, the company shifted its strategy in 2009 toward acquiring and repositioning large, former single-tenant industrial facilities previously owned by major corporations, REITs, and financial institutions. Today, Phoenix and its affiliated entities hold interests in more than 200 industrial, retail, office, data center, and single-tenant net-leased properties totaling approximately 87 million square feet across 27 states. The firm's investment strategy centers on value-add opportunities, particularly industrial assets exceeding 200,000 square feet located in emerging industrial corridors and secondary or tertiary markets. Phoenix specializes in transforming underutilized and distressed properties, including facilities impacted by plant closures, environmental contamination, deferred maintenance, or changing market dynamics, into viable income-producing assets through renovation, multi-tenant repositioning, adaptive reuse, and sale-leaseback strategies. The company has also expanded into data center acquisitions, capitalizing on growing demand for digital infrastructure, and actively pursues opportunities to repurpose manufacturing facilities for data center and other industrial uses. In addition to industrial assets, Phoenix selectively acquires portfolios containing a mix of stabilized and vacant properties, as well as distressed retail and office properties. The firm's flexible transaction structures include traditional acquisitions, seller financing, trades, joint ventures, note sales, and sale-leaseback arrangements. While Phoenix maintains the ability to acquire properties nationwide, its portfolio is concentrated in the Midwest and Southeast, with significant holdings in Wisconsin, Michigan, Illinois, North Carolina, Mississippi, Alabama, and Tennessee. The firm's notable tenants include Stellantis through its Mopar division, and Phoenix has received industry recognition as one of the region's leading property owners and managers, including being named the #1 Industrial Property Management Firm by the Milwaukee Business Journal.