News

BNL Property Acquisition: Art Van Furniture Portfolio

Broadstone Net Lease has acquired a Michigan-based portfolio of nine Art Van Furniture properties, held under a 20-year master lease. Founded in 1959 in Detroit, Michigan, Art Van Furniture is a leading furniture and mattress retailer in the US, with more than 100 stores in five Midwestern states. The portfolio was acquired via a sale leaseback transaction.

  • Closing Date: March 1, 2017
  • Square Footage: 542,343
  • Lease Length: 20 years
  • Broker/Source: Coler Yoakam/HFF

Note: The brand listed may not represent BNL’s actual tenant but a lease guarantor, tenant franchise or a D/B/A (doing business as).