Quint Group, a private real estate investment firm in Quebec, has made its first acquisition in Michigan, purchasing the building known as the Mars Corporate Center. The property consists of a 185,788-square-foot multi-tenant office building in Southfield, one of the preeminent office submarkets in metropolitan Detroit.
This marks Quint Group’s second acquisition south of the border in less than six months, reinforcing its firm commitment to expanding its presence in the United States. The Montreal-based developer previously acquired a 258,300-square-foot industrial building in Olive Branch, Mississippi, in December of 2020.
The five-year-old company has purchased or developed more than 10 million square feet of retail, industrial and office properties across Canada and the United States.
The recently acquired office building is centrally located at 25200 Telegraph Road, within minutes of multiple freeways and interstates, providing convenient access to the greater Metro Detroit area. The class-A property, built in 1974, offers tenants on-site amenities such as a café and a five-story atrium. Tenants in the building include Mars Advertising and IBI Group.
The building, which is currently 64 percent occupied by eight tenants, offers significant upside which Quint Group will capture through the lease up of vacant space. Farmington Hills-based Friedman Real Estate represented the seller in this transaction, and will represent the new ownership group in the management and leasing of the property.