SHEBOYGAN, Wis. (AP) — A Milwaukee-based company has bought a former manufacturing plant in Sheboygan. Phoenix Investors, a commercial real estate investment firm, purchased the former International Automotive Components manufacturing plant for $2.5 million in a deal that closed last week.
Sheboygan Press Media reports the firm plans to turn it into a multi-tenant industrial space and is already in talks with a half-dozen potential tenants. The deal could breathe new life into the 288,000-square-foot factory, which was closed during the recession. It was later targeted for an automotive recycling operation that never materialized. The firm's managing director, David Marks, says the building is attractive given what he sees as an improving market for large manufacturing and warehouse spaces in Sheboygan.