May 21, 2019
Boca Raton, FL-based Morning Calm Management acquired a nine-property industrial portfolio in Metro Detroit from Promanas Group for $83.7 million. Totaling roughly 1.5 million square feet, the portfolio comprises nine industrial assets located in the Detroit suburbs of Livonia, Auburn Hills, Redford, Saline, Lake Orion and Macomb Township.
NKF’s Dan Labes and Tom Oldham (pictured) oversaw the transaction.
Oldham says, “This portfolio was a unique option for Morning Calm Management, not only because of the total square footage across just nine buildings, but also because it met its investment criteria and allowed them to continue to build a significant industrial presence in the Metro Detroit market.”
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