Oliver Industrial Park
Type: Location: Size: Acquired: At Purchase: CapEx: Configuration: Status: StabilizedWebsite:
PIR’s pipeline is strong—ensuring that capital raised is deployed promptly and strategically into high-quality acquisitions that fit their narrow and proven buy box.
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Overview
Phoenix Industrial Redevelopment (PIR) is raising $25 million to grow its national portfolio of small-bay, multi-tenant industrial parks – an asset class critical to U.S. reindustrialization yet largely ignored by institutional capital.
PIR’s FixedFunds Program® delivers 8-8.5% fixed, asset-backed returns, secured by the real estate and supported by a repeatable refinance-and-recycle strategy that has been successfully executed across the current portfolio.
- Additional capital will be raised thereafter to support portfolio expansion
- U.S. reshoring, supply chain localization, and advanced technologies are driving demand for small-bay industrial
- PIR acquires, renovates, and re-leases underperforming properties, holding them for stable cash flow and growth under the Workspace Nation® brand
- Each project is capitalized with institutional senior debt (up to 75%) and preferred equity from the FixedFunds Program® (approximately 25–30%), while Phoenix Industrial Holdings (PIH) holds residual Class B common equity
- Capital is deployed for acquisition, renovations, and lease-up costs. Once a property is stabilized, it is refinanced to repay preferred equity and return investor principal and interest – enabling ongoing capital recycling
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Disciplined Acquisitions
- Backed by a management team with 30+ years average experience in redevelopment and property operations
- Combines disciplined acquisitions, vertical integration, and long-term ownership to create stable income and value growth
- Clear path to expand to 100 parks by 2040
- Differentiated, resilient platform in an under-served industrial niche
Opportunity
- A fundamental shift toward domestic production is underway as global supply chains fragment and U.S. companies onshore operations for greater control and resilience
- Despite rising demand, small-bay multi-tenant industrial remains under-institutionalized, with limited modern supply and fragmented ownership – creating outsized opportunities for focused aggregators like PIR
- Technologies such as AI, robotics, and 3D printing are transforming how goods are made and moved, enabling smaller firms to compete and scale faster
- Institutional investors often focus on large-scale industrial assets, leaving a capital gap in the small-bay segment that presents a high-yield opportunity for agile operators
- Significant value can be unlocked by acquiring underperforming industrial assets, executing targeted renovations, and re-leasing to a new generation of entrepreneurial tenants
Traction and Milestones
- As of 2025, PIR has acquired 19* industrial parks totaling ~800,000 square feet* across multiple U.S. markets, creating a coast-to-coast footprint
- Successfully executing its Acquire–Renovate–Stabilize–Hold model on every asset in its portfolio*, demonstrating repeatable value creation and strong operational discipline
- PIR has launched and scaled its FixedFunds Program®, attracting consistent capital to fund property acquisitions and renovations while providing fixed, asset-backed returns
- PIR has formalized its national branding under the Workspace Nation® identity, enabling property standardization, brand recognition, and enhanced tenant and broker engagement
- PIR has articulated and operationalized its goal of acquiring and holding 100 industrial parks by 2040, with acquisition, management, and capital infrastructure firmly in place to support ongoing growth
*Given the private nature of these transactions, Castle Placement has not validated this information. Additional information can be provided to prospective investors by Phoenix Industrial Redevelopment, LLC.
Solution and Strategy
- Targets underperforming small-bay industrial parks in key U.S. markets, upgrades them through strategic renovations, re-leases at market rates, and holds long-term for cash flow and appreciation
- Raises private debt capital through its FixedFunds Program®, providing fixed, asset-backed returns while funding property acquisitions and improvements
- Each transaction is funded by a combination of institutional senior debt and preferred equity; stabilized properties are refinanced to repay investor notes, enabling ongoing portfolio growth
- Assembling a national portfolio under the Workspace Nation® brand, offering standardized, professionally managed industrial workspaces tailored to small manufacturers and service businesses embracing next-gen technologies
- Through affiliated entities PIR controls every phase of the asset lifecycle, ensuring speed, consistency, and accountability across the portfolio
Management Team
PIR’s senior management team has been working together since the early 1990s, refining their systematic approach to value-add real estate through multiple economic cycles.
Steve Kreitzberg
34+ years experience Mechanical Engineering, University of Washington MBA, Santa Clara University
Specific Risks
- Rising interest rates or a softening industrial real estate market could impact property values, refinancing terms, and PIR’s ability to repay FixedFunds investor notes on schedule
- Delays or cost overruns in property renovations, leasing, or stabilization could reduce cash flow and extend the timeline for refinancing
- The FixedFunds model relies on refinancing stabilized properties to redeem the Fund’s preferred equity; challenging credit markets or lower-than-expected valuations could delay or impair this process
- Vacancies, tenant defaults, or market-specific economic downturns could negatively affect the income stream from properties, impacting distributions to the Fund and ultimately to investors
- FixedFunds investors hold promissory notes secured by the platform, not by direct property ownership; their repayment depends on preferred equity being redeemed
- Private securities are speculative, illiquid, and carry a high degree of risk -including the loss of the entire investment
LEARN MORE ABOUT PHOENIX INDUSTRIAL REDEVELOPMENT
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