Sale of former Art Van headquarters imminent

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A Montreal company is gearing up to buy the former Art Van Furniture Inc. headquarters property in Warren, becoming the latest large local headquarters building with new ownership on the horizon.

Simon Yeramian, vice president of investments for Groupe Quint, said his firm is expected to close on the purchase of the more than 1 million square feet of space at 6500 E. 14 Mile Rd. from New York City-based LCN Capital Partners in the next week or two.

The price was not disclosed, but the building, which most recently was occupied by Loves Furniture Inc., had been listed for $65 million this winter, a price jump from the previous asking price of $53.9 million.

Loves Furniture bought Art Van’s assets and leases for 27 stores for $6.9 million in May 2020 and then eight months later in January went belly up.

The pending sale of the old Art Van Furniture headquarters is the latest prominent local headquarters to sell this year, following the $42 million…

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