Art Van Furniture building in Burton, 4 others for sale but aren't closing
(8/26/2019) - The Art Van Furniture building on Court Street in Burton is for sale, along with four others, but the retailer has no plans to close them.
The landlord who owns properties where Michigan-based Art Van is located in Burton, Howell, Livonia, Shelby Township and Shaumburg, Ill., is selling the buildings.
Art Van plans to continue leasing them for more than $56.5 million. The guaranteed lease agreement lasts for more than 17 years for the five stores.
“This an excellent investment opportunity providing a lengthy, strong return with an established 60-year-old retail business,” said Tim Hain with real estate firm B+E, which is representing the landlord in the proposed transaction.
Art Van does not currently own those buildings and has no plans to close any of the locations, said spokeswoman Diane Charles. The five affected stores total 340,000 square feet of retail space on 26 acres of land.