Developer plans three medical buildings on East Paris
A developer is planning to build three office buildings on a busy corridor to meet demand for space by the health care industry.
First Companies in Grand Rapids, a commercial developer, contractor and property management firm, said yesterday that it will build in Grand Rapids next to its completed Heritage Pointe project, a two-story building with health care tenants, at 2060 East Paris Ave. SE.
The new buildings, which will total 80,000 square feet, will be phase two of Heritage Pointe.
“Given the congestion of the Medical Mile, we saw that additional space was needed for medical professionals desiring their own buildings and where they can promote their brands,” said Jeff Baker, president, First Companies. “These doctors see great value in having visible signage and the autonomy these offices provide.”
The two buildings closest to the street will be about 20,000 square feet each, while the center building in the back will be about 40,000 square feet, said Jeri Owen, director of marketing, First Companies.
First Companies is serving as the project’s contractor.
The firm is working with several local architects on concepts right now, but has not selected one for the project.
First Companies has broken ground on phase two, which will be a "market-driven” project, Owen said.
“One has been sold," she said. "We have a pipeline of interested doctors and practices we are working with on the other two buildings."
Owen said the project's completion date will depend on how quickly First Companies can secure tenants and/or buyers for the land and buildings.
“It is possible all three buildings could be done by the end of the year (2015), based on tenants' needs,” Owen said. “There is no phase three currently being planned right now, but our company is watching the space.”
“The location has turned out to be a great location for medical facilities,” Owen said. “It’s conveniently located for the doctors who live in that area. If you drive up the road there, you’ll see medical building after medical building.”
First Companies, which developed Heritage Pointe as a spec project during the Great Recession, has seen a number of health care tenants call the space home: Grand Health Partners, Michigan Pain Consultants, Center for Plastic Surgery and Spectrum Health draw lab.