Developer completes medical office building
A developer has finished a new 42,792-square-foot medical office building along a major thoroughfare in town.
Grand Rapids-based First Companies said last month it completed the two-story building, at 2144 E. Paris Ave. SE, which is part of phase two of its nearby Heritage Pointe medial office building.
Both buildings are on First Companies’ land, with unnamed buyers and investment groups financing the projects. The cost of each project was not disclosed.
First Companies also manages the buildings.
“With the Medical Mile short on space, we saw a movement of doctors wanting to open offices along East Paris early on,” said Jeff Baker, CEO, First Companies. “That is why we initially took the risk of building Heritage Pointe and later purchased land for this second phase.
“As the need for class-A medical facilities continues, we will invest in opportunities for the growing number of medical businesses we serve.”
The new building is 75 percent leased, with 9,700 square feet available for medical service tenants.
Current tenants of the new building include Foot & Ankle Specialists of West Michigan and Oral Surgery Associates.
It’s the second building Foot & Ankle Specialists has used First Companies on for build out, said Karen Paradiso, CEO, Foot & Ankle Specialists. First Companies also found a buyer for the previous Foot & Ankle Specialists building.
Phase two plan
As land became available next its Heritage Pointe building on E. Paris Avenue SE, First Companies said it acquired the land, with plans for three new buildings based on existing demand for phase two.
The company initially completed a 14,000-square-foot building for Total Health Chiropractic on the site.
Currently under construction is a 12,000-square-foot building for West Michigan Eyecare Associates.