An affiliate of Phoenix Investors, LLC (Phoenix) has purchased the office office building located at 401 E. Kilbourn Ave. (401 Building), in Downtown Milwaukee from D&K Management LLC.

Phoenix paid $2,350,000 for the four story structure located on the corner of Kilbourn and
Milwaukee Streets.

For the past 21 years, Phoenix has operated its home office at 1818 N. Farwell Ave, between
Kane and Royall Places on Milwaukee's East Side. The real estate investment company will move 30 employees to its new location by the end of November.

The 41,000-square foot 401 Building is currently anchored by Associated Bank on the ground level and occupied by four additional office tenants. The building was formerly the business banking office for Associated Bank. Phoenix will occupy 21,000 square feet of the building including the entire second floor and the majority of the third floor.

"Our new offices not only provide more space for our growing staff to work, but also an
opportunity for us to strengthen our company wellness program," Frank Crivello, executive vice president of Phoenix Investors, said in a statement. "The health, well being and happiness of our employees is a big priority to Phoenix, and this new office space gives us the opportunity to provide our team with inhouse options to take care of themselves."

Renovation of the new Phoenix space will be led by Korb and Associates Architects, Milwaukee, for architectural and interior design services on the project.

Marks stressed that the new location is key, because the real estate investment company is
dedicated to being part of the new energy emerging in the downtown Milwaukee area.
"Between the new investments by Northwestern Mutual, the Milwaukee Bucks, and other high profile projects in the community, Downtown Milwaukee is where Phoenix wants to be located," he said.