Phoenix Investors acquires former AMCO site in M1 zoning for industrial redevelopment

The Michigan City Common Council Workshop held on July 24, 2025, focused on significant developments in local industrial real estate, particularly the revitalization of former manufacturing sites. Patrick Dedering, the Director of Acquisition and Leasing for Phoenix Investors, presented the company’s strategy and recent projects aimed at transforming these properties into functional industrial spaces.

Dedering detailed Phoenix Investors' extensive portfolio, which spans 27 to 28 states and encompasses over 83 million square feet of property. The company specializes in acquiring former single-tenant manufacturing buildings, often in disrepair, and investing in their renovation to attract new tenants. A notable example shared was a project in Normal, Illinois, where a partially completed building was successfully renovated and leased to Rivian, an electric vehicle manufacturer.

The discussion then shifted to a specific project on Royal Road, previously known as the AMCO or Federal Mobile site, acquired by Phoenix in 2022. Dedering explained that the building, constructed in 1960, presented an opportunity for significant upgrades, including raising the roof height to 28 feet to meet modern industrial standards. This renovation aims to enhance the building's appeal to potential tenants, as higher clear heights are increasingly desirable in the industrial sector.

John, a representative from Phoenix, emphasized the company's willingness to invest upfront in properties without secured tenants, a strategy that has proven effective over the past decade. He introduced the concept of a "white box" approach, which involves preparing the space to a marketable condition to attract prospective users.

The workshop also included a proposed site plan for the Royal Road project, which features electrical and mechanical yards, as well as a new substation to support the facility's operations. This plan aligns with the site's M1 zoning designation, which allows for data center use, indicating a potential diversification of the property’s future applications.

Overall, the meeting highlighted Phoenix Investors' commitment to revitalizing industrial spaces in Michigan City, showcasing their proactive approach to real estate development and community transformation. The council's engagement with these developments suggests a focus on economic growth and modernization within the region. Further updates on the project and its impact on local employment and industry are anticipated as renovations progress.