July 15, 2022

Fujifilm Announces Sale Agreement for its Greenwood, South Carolina Campus with an Affiliate of Phoenix Investors

Fujifilm Announces Sale Agreement for its Greenwood, South Carolina Campus with an Affiliate of Phoenix Investors

As published by Fujifilm

Greenwood, S.C. – FUJIFILM Holdings America Corporation (Fujifilm) today announced that FUJIFILM Manufacturing U.S.A., Inc., one of its subsidiaries, has entered into an agreement to sell its Greenwood, South Carolina site to an affiliate of Phoenix Investors, a national commercial real estate firm based in Milwaukee, Wisconsin with large-scale industrial real estate holdings across the U.S. As part of Fujifilm’s initiative to meet its future manufacturing and administrative workspace needs, Fujifilm will maintain a workforce of over 300 employees at the site, and lease back over 1.1 million square feet across 5 facilities for administrative, manufacturing, warehouse, and distribution operations.

In an effort to support a global manufacturing and distribution model that’s integrated, efficient, and cost-effective, Fujifilm announced last year that it will transition many of its manufacturing functions at its Greenwood campus to other Fujifilm sites in Europe and Asia. However, as part of this same initiative, Fujifilm made the commitment to maintain a strong presence in Greenwood to continue manufacturing for its Personalized Photo Products Group, Warehousing and Distribution, and administrative support functions.

“Fujifilm arrived in Greenwood over 30 years ago, and we look forward to continuing as a major employer and a good neighbor in the community,” said Jun Higuchi, president, FUJIFILM Holdings America Corporation, president and CEO, FUJIFILM North America Corporation, Chairman, FUJIFILM Healthcare Americas Corporation. “We look forward to working with Phoenix Investors to create a productive and enjoyable working environment for our valued employees.”

In addition, Fujifilm decided to maintain and increase its manufacturing assembly of its QuickSnap one-time-use-cameras, due to the rising U.S. demand driven by Gen Z consumers.

“We are pleased to continue our manufacturing assembly operations of QuickSnap one-time-use-cameras and with the increased demand for color film, we’ve recently added a second shift with 15 additional positions,” said Bing Liem, division president, Imaging Division, FUJIFILM North American Corporation. “We will also continue our Personalized Photo Products operations here, where we provide fulfillment of photo prints, and photo gifts for customers across the country. We have built strong relationships with the community to fill nearly one thousand seasonal positions annually during our busy holiday season and are proud to be one of the largest employers in Greenwood.”

Phoenix Investors’ core business is the revitalization of former manufacturing facilities throughout the United States, with expertise in renovating large commercial campuses. The deal is expected to close by early October 2022 subject to satisfaction of terms and conditions. Terms of the agreement were not disclosed.

“We were pleased to reach a definitive agreement with Fujifilm to acquire its Greenwood campus,” said Frank Crivello, founder and chairman, of Phoenix Investors. “Fujifilm is a world-class company; these buildings were built to its high standards and impeccably maintained over its lifetime in the same manner.”

“For over the last twelve years, we have successfully redeveloped single tenant manufacturing campuses like this one into successful multi-tenant facilities,” said David Marks, president and CEO, of Phoenix Investors. “The result will be a win-win outcome for Fujifilm, our new industrial tenants, the local Greenwood community and Phoenix Investors.”

About Fujifilm 
FUJIFILM Holdings America Corporation is the regional headquarters for the Americas. It is comprised of more than 20 affiliate companies across North and Latin America that are engaged in the research, development, manufacture, sale and service of FUJIFILM products and services. The company’s portfolio represents a broad spectrum of industries including medical and life sciences, electronic, chemical, graphic arts, information systems, industrial products, broadcast, recording media, and photography. For more information, please visit: https://www.fujifilm.com/us/en/about/region.

FUJIFILM Holdings Corporation, Tokyo, leverages its depth of knowledge and proprietary core technologies to deliver Value from Innovation in our products and services in the business segments of healthcare, materials, business innovation, and imaging. Our relentless pursuit of innovation is focused on providing social value and enhancing the lives of people worldwide. Fujifilm is committed to responsible environmental stewardship and good corporate citizenship. For more information about Fujifilm’s Sustainable Value Plan 2030, click here. For the year ended March 31, 2022, the company had global revenues of approximately 2.5 trillion yen (21 billion $USD at an exchange rate of 122 yen/dollar). For more information, please visit: www.fujifilmholdings.com.

About Phoenix Investors
Phoenix Investors is a national commercial real estate firm based in Milwaukee, Wisconsin. Phoenix’s affiliate companies hold interests in approximately 55 million square feet of industrial, retail, office, and single tenant net-leased properties spanning 28 states. Its core business is the revitalization of former manufacturing facilities throughout the United States. This strategy leads to positively transforming communities and restarting the economic engine in the communities we serve. For more information, please visit https://phoenixinvestors.com.

Kurt Jensen is the Senior Vice President, Acquisitions & Leasing of Phoenix Investors, a national real estate firm specializing in industrial real estate based in Milwaukee, Wisconsin. He is a seasoned executive with over 25 years of entrepreneurial, management, and deal-making experience.

Frank P. Crivello is a Milwaukee-based developer and Chairman & Founder of Phoenix Investors.

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