Cushman & Wakefield Represents Sellers In $56 Million Medical Office Portfolio Sale In Michigan
$56,000,000
$367/SF
Building Size
152,289 SF
Asset Type
Medical Office
Closing
Jan 9, 2026
AI
The Medical Office Portfolio was sold for $56,000,000. This portfolio consists of five properties with a total square footage of 152,289 located in Grand Rapids, Holland, Norton Shores, and Big Rapids, Michigan. It is a fully leased medical outpatient portfolio operated by OneOncology in partnership with The Cancer & Hematology Centers.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $56,000,000
- Square Footage: 152,289
- Price Per Square Foot: $368
- Sale Date: 01/09/2026
- Market: Grand Rapids, Holland, Norton Shores & Big Rapids, MI
Cushman & Wakefield facilitated the transaction with representatives Gino J. Lollio, Travis Ives, Tyler Morss, and Garrett Keais acting on behalf of the physician and investor sellers during the deal.
Players
Market Medical Office Market Snapshot
Boundary boundary · Medical Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93