Milwaukee-based company takes ownership of Rockford's Bon-Ton Distribution Center

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ROCKFORD, Ill. (WIFR) -- The old Rockford Bon-Ton Distribution Center has a new owner.

Milwaukee-based company "Phoenix Investors" has bought the 517,000 square-foot facility located at 4650 Shepherd Trail. Phoenix is a national real estate firm that intends to revitalize former U.S. distribution facilities.

Phoenix intends on renovating the old Bon-Ton property over the next few months, according to a release​ from the company.

"We are deeply embedded in the Rockford industrial market. This acquisition further cements our commitment to the area," said Kurt Jensen, Phoenix's Senior Vice President of Acquisitions and Leasing. "The property is well positioned to provide a cost efficient and flexible solution for future users."

River Valley Bank help with senior mortgage financing for the property.