September 15, 2020
Friedman Real Estate closed the $38.5-million receivership sale of the former Sakthi Automotive Group USA, Inc. real estate portfolio. Located in southwest Detroit, the office/industrial campus totaling 620,000 square feet across five buildings and two areas of developable land on 37 acres was sold to an undisclosed investor.
The deal was facilitated by Friedman’s Kevin George and Jared 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 located directly adjacent to the future Gordie Howe International Bridge U.S. Port of Entry.
“We’re excited to complete a deal of this size in the Detroit market and see what the future holds for the area,” said Jared Friedman.
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