The site, formerly operated by the Vitesco Technologies division of Continental, sits within a federal Opportunity Zone near I-64. Its strategic placement provides proximity to Fort Eustis, Langley Air Force Base, and the Yorktown Naval Weapons Station, tapping into a regional labor pool specialized in shipbuilding and advanced engineering. Originally built in 1971, the structure is equipped with heavy-duty electrical service and full climate control, features that make it particularly viable for high-intensity industrial tenants.
Phoenix Investors Secures 378,000-Square-Foot Newport News Industrial Site
Milwaukee-based Phoenix Investors has acquired a 378,331-square-foot industrial complex at 615 Bland Boulevard in Newport News, Virginia. Situated on 27 acres adjacent to the Newport News/Williamsburg International Airport, the facility occupies a prime position within one of the nation's most land-constrained industrial markets, offering immediate access to critical defense and manufacturing hubs.
Phoenix Investors intends to execute a capital improvement program to modernize the facility's loading infrastructure and internal layout. According to company president Anthony Crivello, the firm aims to leverage the property's significant excess land and specialized utility capacity to accommodate modern manufacturing requirements. Grant Bates of Newmark brokered the transaction, marking another expansion for Phoenix in its strategy of repurposing legacy manufacturing assets across the United States.
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