Health system buys Medical Mile building
A local health system has purchased an office building near downtown.
Grand Rapids-based Spectrum Health bought the 21,991-square-foot building at 515 Michigan St. NE on Medical Mile for $3.9 million, according to Kent County property records.
The property was sold by Jade Pig Ventures, according to property records.
Scott Wierda of Grand Rapids-based CWD Real Estate Investment said he and Brian DeVries have owned and operated several professional office buildings on Michigan Street, and this sale marked the disposition of the last asset the two owned together.
“We felt the timing was right for us and that it was important to put it in the hands of Spectrum Health, so they can continue to plan for their long-term success, which clearly benefits our community,” Wierda said.
Space in the building is leased by several organizations, including A Life of Smiles, Quest Diagnostics, ConnectCare, Teter Orthotics and Northwood University.
Spectrum Health confirmed it purchased the property, but it did not disclose its plans for the building.