Michigan Investor Acquires Medical Office Property In Davison For $5.8 Million

The property asset involved in the transaction is a medical office located at 1515 Cal Drive in Davison, Michigan. The asset spans 50,017 square feet on 3.3 acres and was sold for $5,800,000, which translates to a price per square foot of $116. The property is fully leased and is occupied by McLaren Health Management Group and The Cottage of Davison.

Summary of transaction details:

• Property Type: Medical Office
• Transaction Amount: $5,800,000
• Address: 1515 Cal Drive
• Market: Davison, MI
• Size: 50,017 SF
• Price per Square Foot: $116
• Acres: 3.3
• Brokers: David Weinberg & Jacob Keith - Marcus & Millichap

The transaction was facilitated by brokers Jacob Keith and David Weinberg, who represented the seller, a Michigan-based investor. The medical office was developed as a build-to-suit project and was sold by the owner to the investor while maintaining full occupancy with tenants already established in the property.