Italy-based Tiberina Group has purchased 10 acres of industrial land in Detroit from Industrial Commercial Properties and Industrial Realty Group. Tiberina will use the land for a manufacturng facility.
Industrial Commercial Properties Group, a Cleveland-based developer, and Industrial Realty Group, a national real estate development and investment firm, originally acquired the property in 2014 from American Axle. American Axle then leased back the buildings long-term.
W. Emery Matthews of Detroit-based Real Estate Interests, LLC represented Tiberina in this deal.
