{"id":1004165022,"date":"2017-01-25T04:11:56","date_gmt":"2017-01-25T12:11:56","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004165022"},"modified":"2022-12-08T23:55:39","modified_gmt":"2022-12-09T07:55:39","slug":"health-center-in-west-michigan-trades-for-44m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/health-center-in-west-michigan-trades-for-44m\/","title":{"rendered":"Health Center in West Michigan Trades for $44M"},"content":{"rendered":"<p>By Mihaela Coste<\/p>\n<div id=\"attachment_1004165036\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/photo.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004165036\" data-attachment-id=\"1004165036\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/health-center-in-west-michigan-trades-for-44m\/photo-4\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/photo.jpg\" data-orig-size=\"1337,816\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Womens Health Center of West Michigan in Grand Rapids\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Womens Health Center of West Michigan in Grand Rapids&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/photo.jpg?w=1024\" class=\"wp-image-1004165036 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/photo.jpg\" alt=\"Womens Health Center of West Michigan in Grand Rapids\" width=\"300\" height=\"183\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/photo.jpg 1337w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/photo.jpg?resize=300,183 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/photo.jpg?resize=768,469 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/photo.jpg?resize=1024,625 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004165036\" class=\"wp-caption-text\">Women&#8217;s Health Center of West Michigan in Grand Rapids<\/p><\/div>\n<p><strong>Grand Rapids, Mich.<\/strong>\u2014Marcus &amp; Millichap\u2019s Detroit office recently announced the sale of Women\u2019s Health Center of West Michigan, a 106,806-square-foot medical office building located in Grand Rapids. The asset traded for $43.5 million, more than $400 per square foot, being the largest dollar value sale of a medical office in Michigan since 2014.<\/p>\n<p>An undisclosed private REIT bought the property from Pinnacle Construction Group, which was represented in this transaction by Ashish Vakhariya, vice president of investments, and Seth Haron, senior associate of Marcus &amp; Millichap.\u00a0The property was 93 percent occupied at the time of the transaction.<\/p>\n<p>Situated at 555 Mid Towne St. and anchored by Metro Health OAM Surgery Center and Grand Rapids Women\u2019s Health, the Class A four-story building was completed in 2008 and is located near Interstate 196. The corridor includes other notable medical facilities, such as Spectrum Butterworth Hospital, the Meijer Heart Center, Helen DeVos Children\u2019s Hospital and the Lemmen-Holton Cancer Pavilion.<\/p>\n<p>\u201cThe recent acquisition of Metro Health by the University of Michigan, along with the significant lease term remaining on the anchor tenants, generated a high level of interest in the asset,\u201d said Haron in a prepared statement. \u201cThe tenancy also includes hospital-based medical practices and a complementary mix of private physician groups.\u201d<\/p>\n<p><em>Image courtesy of Pinnacle Construction Group<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Facilitated by Marcus &amp; Millichap, the transaction represents the largest sale of a medical office building in Michigan since 2014.<\/p>\n","protected":false},"author":1192,"featured_media":1004165036,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21754,13,21742],"tags":[32864,33622],"class_list":["post-1004165022","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-medical-office","category-midwest","category-latest","tag-marcus-and-millichap","tag-pinnacle-construction-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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