[ad_1]
Health Park South. Image courtesy of Friedman Real Estate
A private investor has acquired Health Park South, a 35,858-square-foot medical office building in Battle Creek, Mich., from Granger Group, Calhoun County records show. The property was subject to an acquisition loan of $3.4 million, provided by Team One Credit Union.
The previous owner received a loan of $2.5 million in 2019 for the Class B medical facility, according to CommercialEdge data. StanCorp Financial Group originated the financing.
Associate Andrew Bower with Friedman Real Estate represented the buyer in the current transaction. The sale included property and facility management services.
Originally completed in 1992, the three-story building sits on 4.9 acres and includes 163 parking spaces at a ratio of 4.3 spaces per 1,000 square feet, controlled access and one passenger elevator. The building is served by a zoned HVAC system with hot water boilers, separate electric metering and wet sprinkling. Ascension Borgess Hospital, Bronson Health Internal Medicine and Fresenius Kidney Care anchor the medical facility.
Health Park South is located at 2845 SW Capital Ave., near the intersection of interstates 94 and 194. The property is some 50 miles from Lansing, 75 miles from Grand Rapids and 120 miles from Detroit. Medical providers in the surrounding area include Cereal City Pediatrics and Bandeen Orthodontics. Battle Creek VA Medical Center is 10 miles away.
CommercialEdge data shows that four medical office properties traded in metro Detroit year-over-year as of June, totaling 252,548 square feet.
[ad_2]
Source link
