Detroit, MI – (September 14, 2020) Friedman Real Estate, one of the nation’s largest leading providers of commercial real estate services, has announced the $38.5 million receivership sale of the former Sakthi Automotive Group USA, Inc. real estate portfolio. Located in southwest Detroit, Michigan, the office/industrial campus totaling 620,000 SF across five buildings and two areas of developable land on 37 acres was sold to an undisclosed investor through receivership. The deal was facilitated by Kevin George, Senior Vice President of Brokerage Services and Jared Friedman, Director of Opportunities at Friedman in partnership with court appointed receiver Kevin English of Lark Advisors LLC and Counsel for the Receiver, the Dragich Law Firm.
The facilities primarily served as Sakthi’s manufacturing operations housing foundry and machining equipment, robotics assembly, and warehousing. A multi-story office building also provided space for corporate and administrative operations. The campus is strategically located directly adjacent to the future Gordie Howe International Bridge U.S. Port of Entry. The Detroit Windsor border is the busiest international border crossing in North America in terms of trade volume, carrying 25% of all merchandise trade between the United State and Canada. The future bridge aims to increase trade efficiency by offering an alternative to the Ambassador Bridge, currently the only crossing option for commercial vehicles.
“Having the privilege of working with the Receiver team to facilitate the sale of this portfolio has been a rewarding experience,” said Jared Friedman, Director of Opportunities at Friedman Real Estate. “We’re excited to complete a deal of this size in the Detroit market and see what the future holds for the area.”
About Friedman Real Estate
As one of the largest privately-held full-service commercial real estate organizations in the nation, Friedman Real Estate provides clients with a single point of contact for the full range of Advisory, Property Management, Multi-Family, Brokerage and Construction services that it offers.
Friedman manages more than 140 commercial properties encompassing more than 16M SF and more than 22,000 apartment homes throughout the United States. Friedman’s brokerage team has over 800 current listings with $20 billion in closed transactions. As owners and managers of commercial property for over 30 years, Friedman understands what it takes to achieve results that maximize their clients’ objectives. Additional information is available at www.friedmanrealestate.com and on LinkedIn, Facebook, Instagram, YouTube, and Twitter.