Sold! Phoenix Investors buys Goodyear property, plans multi-tenant design

Gadsden Mayor Craig Ford announced Tuesday that the sale of the Goodyear Tire & Rubber Company property is a done deal.

An affiliate of Phoenix Investors acquired the approximately 3-million-square-foot facility, with plans to divide the space for occupancy by multiple tenants — tenants that Ford predicts could rival the number of people Goodyear employed in the past.

The plan for the Goodyear property follows Phoenix’s business model of bringing in multiple industries and tenants to occupy large manufacturing sites.

“This acquisition is a game-changer for Gadsden,” Ford said. “With this deal, a nationally recognized development firm can locate up to 40 companies within the 2.9 million square feet of available industrial space.

“Over time, those companies could collectively create as many as 1,200 jobs, which is the same level of employment Goodyear had at its closing,” he said. “I look forward to working with company leaders to maximize job creation and economic impact.

“This is just another sign that Gadsden is on its way up, and the related growth we’re about to see will only bring more good news,” Ford added.

Ford initially announced the Goodyear sale in the waning days of the mayoral race. At that time, an announcement was expected within days.

“Gadsden and Etowah County are known for their strong ethic, and we look forward to providing quality jobs to the area through the revitalization of this property,” FrankCrivello, Founder and Chairman of Phoenix Investors, said. “This campus has tremendous potential, and we are honored to add it to our Portfolio.”

Goodyear announced in April 2020 that Goodyear-Gadsden would close its doors, leaving about 400 employees without jobs. Goodyear built passenger tires in Gadsden for about 90 years, serving as a driving force in the local economy until recent years, when employment there started to decline.

The facility was renovated in 2015. It has 2,952,263 square feet of industrial space on 156 acres of land. It includes 30 dock doors that will clear heights up to 30 feet. It provides sample car and trailer parking, rail access, and proximity to Interstate 759 and Interstate 59.

According to Phoenix, cosmetic improvements will be implemented soon to attract “high-quality users.”

Among the property’s selling points to potential tenants, city leaders say it is centrally located near four metropolitan cities — Atlanta, Birmingham, Huntsville and Chattanooga — and Etowah County boasts a quality workforce.