GRAND RAPIDS, MI—MB Real Estate Healthcare Group has purchased two medical office buildings here for an undisclosed sum.
The first property is a two building, 111,758-sq.-ft. multitenant complex at 1000 E. Paris SE. The property is anchored by Spectrum Health, a not-for-profit health system of Spectrum Health Hospital Group. The property is also occupied by multiple physician groups and Grand River Cardiology, which is affiliated with St. Mary’s, the second largest hospital system in the area.
Also acquired was a 56,043-sq.-ft. medical office building attached to the Orthopaedic Associates of Michigan Centers of Excellence Campus at 2680 Leonard Street NE. The MOB is occupied by Grand Valley Health Corp., including the Grand Valley Surgical Center.
Two MB principals, Andrew Davidson and Peter Westmeyer, say the fundamental strength of Grand Rapids’ economy and growing health sector attracted their Chicago-based firm to the southwest Michigan area. “We’re placing a significant emphasis on our healthcare group and are excited about our latest acquisitions in Grand Rapids,” says Davidson.