Dart Interests has sold a 1.5 million-square-foot warehouse at 2200 S. Business 45 in Corsicana, 60 miles south of Dallas. Commercial Edge reports that Phoenix Investors purchased the property with a $32.6 million acquisition loan from Huntington National Bank. It was 100 percent leased at the time of sale. Although the property was fully leased at closing, some tenants’ leases are up in early 2027.
The property was built on 172 acres in 1981 and renovated in 2018.Â
When it was first constructed in 1981, K-Mart used the warehouse as its distribution center, but Home Depot later utilized it as a logistics hub.
Phoenix Investors is a national commercial real estate firm based in Milwaukee, WI, whose core business is revitalizing former manufacturing facilities throughout the United States. Phoenix principally specializes in the renovation and repositioning of large, former single-tenant industrial facilities that were previously owned by major corporate clients, REITs, or financial institutions.
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