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Marcus & Millichap sells East Paris Medical Center for $2.13 million
The 10,011-square-foot, fully leased three-suite medical and professional office in Grand Rapids was anchored by Trinity Health Michigan, with tenants paying at or below market rents.
Marcus & Millichap announced the sale of East Paris Medical Center, a medical and professional office property in Grand Rapids, Michigan.
The transaction price was $2.13 million. The property spans 10,011 square feet and includes three suites, and it is fully leased, according to ConnectCRE.
ConnectCRE said investors were drawn to the asset’s location along Grand Rapids’ active healthcare corridor and its future upside potential, noting that all tenants are currently paying at or below market rents.
Seth Haron, managing director of investments, said Haron and the Marcus & Millichap Detroit investment team had the exclusive listing to market the property on behalf of the seller, a local private investor and retired physician. The center is anchored by Trinity Health Michigan and is surrounded by Corewell Health Blodgett Hospital, Corewell Health Butterworth Hospital and Trinity Health Grand Rapids Hospital.