Phoenix Investors Acquires Nearly 600,000 Square Foot Industrial Facility in Troy, Missouri
Phoenix Investors, a Milwaukee-based commercial real estate firm, acquired a 600,000-square-foot industrial facility in Troy, Missouri, on June 16, 2026, according to a company announcement. The property at 200 Academic Way, spanning 38 acres with access to US-61, was purchased from HMH Education Company, which retained a leaseback agreement for the entire building. The transaction aligns with Phoenix’s focus on repurposing former manufacturing sites, with plans to market portions of the facility for lease starting October 2026.
The 1969-built facility, expanded in 1986 and 1998, features 32-foot clear heights, 24 dock doors, and industrial zoning suitable for manufacturing and distribution. Phoenix intends to add dock positions and other improvements, positioning the site as a flexible hub for logistics and warehousing. The property’s location 54 miles northwest of St. Louis places it near a major Midwest transportation corridor.
Anthony Crivello, Phoenix’s president, emphasized the deal’s collaborative nature, stating it supported HMH’s facility consolidation while securing a “high-quality industrial asset.” The arrangement allows Phoenix to offer leasing opportunities while HMH maintains occupancy through 2026.
The acquisition adds to Phoenix’s portfolio of redeveloped industrial spaces, which the firm has positioned as critical for meeting growing demand in warehousing and distribution. Local economic development officials have yet to comment on the deal’s potential impact on Troy’s workforce or tax base.
Phoenix’s plans to market the facility for additional tenants could influence regional supply chain dynamics, depending on market demand. The firm’s track record in renovating former manufacturing sites suggests a focus on modernizing infrastructure to attract tech-enabled logistics operations.
What Happens Next?
Phoenix may begin leasing portions of the facility to new tenants in October 2026, though the timeline depends on market conditions. The firm’s capital improvements, including additional dock positions, could take several months to complete.
Why This Matters
The deal underscores the Midwest’s growing role in national logistics networks, with Troy’s location near St. Louis offering access to major highways and rail corridors. The facility’s industrial zoning and existing infrastructure make it a competitive asset for companies seeking to expand regional operations.
How This Fits Into Phoenix’s Strategy
This acquisition aligns with Phoenix’s specialization in repurposing underutilized industrial spaces, a strategy that has gained traction as e-commerce and just-in-time manufacturing drive demand for flexible logistics facilities.
Frequently Asked Questions
What is the size of the facility Phoenix acquired? The industrial property measures nearly 600,000 square feet, according to the announcement.
Who was the seller in the transaction? HMH Education Company retained a leaseback agreement after selling the Troy, Missouri, facility to Phoenix Investors.
When could the facility be available for new tenants? Phoenix may begin leasing portions of the building to additional tenants starting October 2026.
What long-term implications could this transaction have for Troy’s economy?