Frank Crivello, EVP, NNN Group, Inc. and Phoenix Investors, LLC Announce Sale of Industrial Real Estate, Santa Clara, California
Ohio Investors of Wisconsin, LLC, sells industrial properties located in Santa Clara, Calif.
Milwaukee, WI (PRWEB) July 4, 2005 --October 15, 2004--Frank Crivello, Executive Vice President, Phoenix Investors, LLC ("PI"), www.phoenixinv.com, and NNN Group, Inc., www.nnn.net, ("NNN") announced that Brian Ruf and Marnie MacMillan purchased the industrial properties owned by Ohio Investors of Wisconsin, LLC, its affiliate, ("Ohio") located on Thomas Road, Santa Clara, California. Ohio was represented by Nick Whitstone, CB Richard Ellis, www.cbre.com.
PI Executive Vice President Frank P. Crivello stated: "SVPC Partners, LLC, our affiliate, acquired these properties in connection with its acquisition of the assets of SVPC Circuit Systems, Inc. When it merged with Titan EMS, Inc., a wholly owned subsidiary of Ventures-National, Inc., www.titanems.com ("Titan"), we agreed to have Ohio, an affiliate, purchase the properties and lease them to Titan. After Titan moved from these industrial properties to its new plant in Fremont, California, we no longer had a strategic need for these properties. We were pleased to close on the sale of these properties."
PI Managing Director David Marks stated: "These properties ultimately did not fit our target portfolio. After Titan vacated the properties, we decided to sell the properties. Nick Whitstone and CB Richard Ellis did a fine job of marketing the properties."
PI was represented by Leonard G. Leverson of the firm of Kravit, Gass, & Weber, S.C., www.kravitlaw.com, in connection with the sale of the properties.
About NNN Group, Inc., www.nnn.net:
NNN provides PI with real estate management and advisory services.
About Phoenix Investors, LLC, www.phoenixinv.com:
Since 1994 PI has been offering professional management and advisory solutions to public and private companies, trusts, and individual investors. Our management endeavors to understand our clients' individual needs, work with our client to assess specific goals, and structure investments according to our clients' specific risk/reward profile to meet both the clients' short term and long term needs. Our real estate management team professionally manages our portfolio properties through a combination of local and national representation in order to effectively create a "working-bridge" between owner and tenant, building a cooperative mutually beneficial working relationship. Our experts assess and refine our client's portfolio's to maximize our clients cash flow, equity accumulation, and internal rate of return based upon our clients' specific dynamic goals.
Safe Harbor Statement Under the Private Securities Litigation Act of 1995 - With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of the PI could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to assumptions relating to the marine market and that there will be no unanticipated material adverse change in PI's operations or business.
Contact:
New-School Communications, LLC
Blois Olson, 651-221-1999
www.new-school.com
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