Phoenix Investors sells Nebraska mall to raise money for local industrial purchases

Milwaukee-based Phoenix Investors sold a large Nebraska shopping center for $16.78 million and will use the proceeds to buy industrial buildings in Wisconsin and the Midwest.

The Phoenix Investors group owned Centro Plaza in Lincoln for more than 20 years. Frank Crivello, executive vice president of Phoenix Investors, said the company plans to focus on acquiring more industrial properties.

“Therefore, our team decided to sell Centro Plaza and exchange that equity into industrial properties across…