Investment Group Buys Former Russell Brands Plant
RELEASED: December 11,2020
An affiliate of Phoenix Investors, a national private commercial real estate firm headquartered in Milwaukee, Wisconsin, acquired the former Russell Brands, LLC property located at 3145 Elmore Road in Wetumpka, Alabama. Russell Brands previously manufactured sports equipment and clothing, marketing its products under many brands and subsidiaries, including Russell Athletic and Spalding.
Desirae Lewis, District 5 Elmore County Commissioner expressed her excitement about the acquisition. “This purchase will help bring jobs to Wetumpka and the surrounding area that have been missing since 2013. This is an economic boost and a major step towards future development on the Highway 14 corridor.”
Commission Chairman Troy Stubbs, echoed the comments of his fellow Commission member. “ECEDA has done a tremendous job to help find an investor for this property whose business model will lead to a diversified approach to best utilize the property. We are excited to have Phoenix Investors join our community.”
Other elected officials including Elmore County District 4 Commissioner Bart Mercer and Wetumpka Mayor Jerry Willis worked with Elmore County EDA Director Cary Cox to repurpose and infuse this real estate and infrastructure back into the economy of Elmore County.
The Phoenix Investors announcement of the property acquisition can be found here along with additional quotes from area leaders: https://www.prnewswire.com/news-releases/affiliate-of-phoenix-investors-acquires-former-russell-brands-plant-in-wetumpka-alabama-301190126.html.