BENTON HARBOR, Mich.,
Feb. 22, 2017 /PRNewswire/
-- Whirlpool Corporation announces the sale of its remaining
manufacturing building and surrounding land in Fort Smith Arkansas to an affiliate of
Milwaukee-based Phoenix Investors.
It will be the first Arkansas
project for the real estate group and will include a complete
renovation of the former Whirlpool Complex suitable for use by
warehousing, industrial or manufacturing companies.
Phoenix Investors' portfolio totals approximately 17 million
square feet across 22 states. Over the last 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.
"Phoenix Investors is a company that understands the
opportunities that exist in the Fort
Smith, Arkansas marketplace," said Jeff Noel vice president Communications and
Public Affairs of Whirlpool Corporation. "Officials with Phoenix
Investors are looking forward to working directly with Tim Allen and his team of local economic
development professionals along with members of the Arkansas
Economic Development Corporation, and leaders of the City of Fort Smith."
"Our core focus and competency lies in restoring legacy
industrial properties back to their original greatness," said
Frank Crivello executive vice
president, Phoenix Investors. "We will bring quality companies and
jobs back into the former Whirlpool complex. We already have a list
of prospects. We look forward to working with local, regional, and
state partners to fulfill our vision for the former Whirlpool
complex and surrounding acreage that takes full advantage of the
dynamic opportunities that exist in Fort
Smith. The infrastructure improvements near the facility,
strong community leadership, and a great local workforce are key
ingredients we look for in a redevelopment project."
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