KANKAKEE, Ill., Jan. 28, 2026 /PRNewswire/ — An affiliate of Phoenix Investors (“Phoenix”), a national commercial real estate investment firm based in Milwaukee, Wisconsin, announced the acquisition of an approximately 670,000-square-foot, heavy-power industrial property in Kankakee, Illinois. The rail-served facility is strategically positioned near Interstate 57, offering efficient access to the Chicago metropolitan area and the broader Midwest distribution network.
Formerly home to the Heinz Pet Food manufacturing and distribution facility, the site has a long history of industrial use and now presents a compelling opportunity for tenants seeking scale, power, and flexibility within a cost-effective Midwest location. The property offers exceptional underlying infrastructure, including approximately 43 megawatts of power, clear heights up to 87 feet, 41 dock doors, seven drive-in doors, and an active Norfolk Southern rail spur. The fully fenced site includes a guard shack, extensive trailer and automobile parking, and the ability to be demised to accommodate multiple users or a single large-format tenant.
Phoenix plans to undertake a series of capital improvements to reposition the property and enhance its functionality for modern industrial users. Planned improvements include white-boxing select areas, general site and exterior upgrades, the installation of high-efficiency LED lighting, and the addition of new dock doors to further improve loading capacity and operational flow. These enhancements are intended to increase flexibility and allow the facility to accommodate a wide range of logistics, manufacturing, advanced industrial, and energy-intensive uses.
“Phoenix continues to focus on acquiring, revitalizing, and repositioning industrial assets that meet the needs of modern tenants,” said Anthony Crivello, President. “The property in Kankakee reflects our commitment to delivering flexible, well-located facilities that support long-term tenant growth and operational success.”
About Phoenix Investors
Phoenix Investors is the leading expert in the acquisition, renovation, and release of former manufacturing facilities in the United States. In addition to being one of the country’s largest owners of industrial real estate, Phoenix has expanded its platform to include the acquisition and repositioning of data center assets, supporting the growing demand for digital infrastructure. The revitalization of facilities throughout the continental United States positively transforms communities and restarts the economic engine in the communities we serve. Phoenix’s affiliate companies hold equity interests in a portfolio of industrial properties totaling approximately 85 million square feet and spanning 27 states, delivering corporations with a cost-effective national footprint to dynamically supply creative solutions to meet their leasing needs.
For more information, please visit https://phoenixinvestors.com.
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SOURCE Phoenix Investors
