Phoenix Investors is a national commercial real estate firm headquartered in Milwaukee, Wisconsin that specializes in acquiring, renovating, and repositioning former industrial facilities throughout the United States. Founded in 1994 by Frank P. Crivello, the firm initially focused on net lease commercial real estate acquisitions across the country from 1994 to 2008. In 2009, Phoenix shifted its core business strategy to concentrate on industrial real estate acquisitions and repositioning. The company primarily targets large, former single-tenant industrial facilities previously owned by major corporations, REITs, or financial institutions. Phoenix has expanded its investment platform to include data center assets to support growing digital infrastructure demand. Through its affiliate companies, Phoenix holds interests in industrial, retail, office, data center, and single-tenant net-leased properties totaling approximately 85 million square feet across 27 states. The firm employs sale-leaseback transactions for operating facilities and acquires distressed or vacant industrial properties requiring revitalization. Phoenix focuses on properties with unique infrastructure characteristics including heavy power, rail access, and large floor plates, often in markets where corporate distress, environmental challenges, or deferred maintenance have created acquisition opportunities.