BENTON HARBOR, Mich.,
Feb. 22, 2017 /PRNewswire/ --
Whirlpool Corporation announces the sale of its former
manufacturing Plant Three property on Euclid Avenue in Cleveland, Tennessee to an affiliate of
Milwaukee-based Phoenix
Investors.
Phoenix Investors' portfolio totals approximately 17 million
square feet across 22 states. During the past three years Phoenix
Investors has acquired six former Whirlpool plants as part of its
core business of revitalizing former manufacturing facilities
throughout the United States.
Ultimately, this strategy leads to positively transforming
communities and restarting the economic engine in the communities
in which Phoenix operates.
"We outgrew our former manufacturing site in Cleveland a few years back and built a
state-of- the-art facility just a few miles away," said
Jeff Noel vice president,
Communications and Public Affairs of Whirlpool Corporation. "Today
we are pleased to complete the sale of part of our former site to
Phoenix Investors who will work directly with the Cleveland community to find the best new
opportunity for this site."
"After the success of our acquisition of Whirlpool's former
facility in Milan, Tennessee, now
leased to Delta Faucets, we are pleased to acquire another former
Whirlpool complex in Tennessee
ripe for an adaptive reuse," said David
Marks, Managing Director of Phoenix Investors."
About Whirlpool Corporation
Whirlpool
Corporation (NYSE: WHR) is the number one major appliance
manufacturer in the world, with approximately $21 billion in annual sales, 93,000 employees and
70 manufacturing and technology research centers in 2016. The
company markets Whirlpool, KitchenAid, Maytag,
Consul, Brastemp, Amana, Bauknecht,
Jenn-Air, Indesit and other major brand names in
nearly every country throughout the world. Additional information
about the company can be found at WhirlpoolCorp.com, or find us on
Twitter at @WhirlpoolCorp.
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SOURCE Whirlpool Corporation