West Michigan Medical Office
Multi-Tenant Medical Office | Northern Michigan
Transaction Details
$10.3 million
Norton Shores, MI
28,000 SF
Medical Office Building
Investment Sale
Multi-Tenant
Key Highlights
Property Overview
CREG Healthcare successfully represented the seller in the $10.3 million sale of West Michigan Medical Office, a 16,800 square foot multi-tenant medical office building in Northern Michigan, serving a regional market with strong tourism and retirement activity.
Transaction Highlights
West Michigan Medical Office serves as an important healthcare hub in Northern Michigan's resort and retirement communities. The building features a diverse tenant mix of primary care, specialty practices, and diagnostic services serving both year-round residents and seasonal populations. The region's appeal as a retirement destination and vacation area creates consistent demand for quality medical services.
Property Features
Regional Healthcare Hub
Serves as important medical facility in Northern Michigan providing essential healthcare services to regional population.
Multi-Specialty Tenancy
Diverse tenant roster including primary care, orthopedics, cardiology, and diagnostic services with stable long-term leases.
Resort Market
Located in popular Northern Michigan resort and retirement area with strong seasonal and year-round populations.
Quality Facility
Well-maintained medical office building with modern systems, ample parking, and professional management.
Why This Transaction Succeeded
- Regional Importance: Property's role as healthcare hub in underserved Northern Michigan market created value stability.
- Retirement Demographics: Northern Michigan's appeal as retirement destination supported long-term demand for medical services.
- Tenant Stability: Long-term tenant relationships and limited competitive supply enhanced income predictability.
- Lifestyle Market: Resort area appeal attracted buyers seeking quality-of-life investments in unique markets.
- Marketing Approach: Emphasized regional healthcare importance and demographic trends to generate buyer interest.
Transaction Outcome
West Michigan Medical Office sold for $10.3 million to a regional medical office investor with experience in resort and retirement markets. The transaction demonstrated CREG Healthcare's ability to successfully market properties in secondary markets by emphasizing regional importance, demographic trends, and the unique characteristics of resort-area healthcare real estate.
"CREG Healthcare's understanding of Northern Michigan's unique market dynamics and their ability to identify buyers who appreciated our property's regional importance resulted in a successful transaction."
Your Transaction Team
Work directly with our experienced managing partners who have closed billions in medical real estate transactions.
Considering Selling Your Medical Property?
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