The assets, formerly owned and occupied by LEDVANCE, are located in Kentucky and Pennsylvania. : Phoenix Investors has finalized the acquisition of a 1.6 million-square-foot industrial portfolio from lighting manufacturer LEDVANCE. The portfolio comprises four properties located in Kentucky and Pennsylvania. Newmark Knight Frank Executive Managing Director Jim Belcher and Director Bart Hardison facilitated the transaction. The new owner plans to renovate and lease the properties in the following months. The Kentucky buildings are situated in the Lexington market, which has a vacancy rate lower than 2 percent, according to Phoenix Investors data.