Groupe Quint Continues US Expansion, Acquires Former Art Van Headquarters
MONTREAL, Sept. 13, 2021 /CNW Telbec/ - Quint Group, one of the most active private real estate investment firms in Canada, is announcing a major US acquisition, an industrial property in Warren, Michigan totaling 1,056,890 sq. ft.
The class A distribution center is located at 6500 14 Mile Rd in Warren, Michigan, and is known as the former Art Van distribution center. The property is fully vacant and represents one of the only large vacant spaces available in the Detroit industrial market. It offers clear heights of 38 ft throughout, 212 truck-level doors, abundant trailer storage, as well as a unique 100 ft high automated warehousing system.
After acquiring their first US property in Mississippi in December, Quint Group has been rapidly expanding their presence in the US and more specifically in Michigan. This transaction represents its 3rd acquisition in the country and 2nd in the state within the past 8 months. The group also owns the Mars Corporate Center, an office building in Southfield.
"The Detroit industrial market is one of the most competitive ones in the Midwest, with very little quality space available for tenants, which is why we saw this opportunity as one we couldn't pass on. We plan on spending significant capital to modernize this facility to allow for our future tenants efficient operation," says Simon Yeramian, Vice President of Investments. "Our goal is to build a portfolio of quality industrial properties across the Midwest. We look for properties that allow us to create value, and we aim to acquire over 3 million sq. ft. in the coming 12 months. The former Art Van distribution center is an excellent example of a building that has tremendous potential but needs a hands-on owner to be able to maximize its value and quality."
Signature Associates, one of the largest and leading industrial brokerage firms in Michigan, represented the seller in this transaction, and will represent the new ownership group in the management and leasing of the property.
About Quint Group
Quint Group, a real estate developer and investor based in Montreal, QC, owned by Ian Quint, owns and manages a prolific portfolio of industrial, office and retail properties across Canada and the US. The company currently owns over 8,500,000 sq. ft. of properties and 11,000,000 sq. ft. of land for development. Since its inception in 2015, Quint Group has built a reputation as one of the most active buyers of commercial real estate in Quebec by acquiring on average over 2 million sq. ft. of property per year. Quint Group is vertically integrated and has extensive experience in land and building acquisition, construction, asset management, leasing and management of buildings for industrial, office and retail.
SOURCE Groupe Quint Inc.
Melissa Boyer, [email protected]
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