Press Releases
Marcus & Millichap Arranges The Sale Of A Beaumont Anchored Medical Center In Lake Orion, MI
May 23, 2022Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Beaumont Medical Center, an 85,545 -square foot multi-tenant medical office property located in Lake Orion, MI, according to Steven Ross Chaben, regional manager of the firm’s Detroit office. The asset sold for $8,450,000.
Seth Haron and Ashish Vakhariya, investment specialists in Marcus & Millichap’s Detroit office, facilitated the transaction between the buyer and the seller. “The Beaumont Medical Center attracted strong investor demand. The outpatient medical center offers a variety of services including radiology, physical therapy, pharmacy, OB/GYN, laboratory, pediatrics, among others.” says Seth Haron, First Vice President Investments within the National Healthcare Real Estate Group. “Key drivers included an investment grade anchor tenant (Beaumont | Moody’s A1), tremendous upside potential through future lease-up and location in a desirable affluent market. Our marketing efforts generated multiple offers and resulted in a 50-day contract to close time frame.”
In the past twenty-four months, Seth Haron and Ashish Vakhariya have sold or have under contract to sell, $143 Million of retail and medical office investment properties throughout numerous states spanning the Midwest and beyond.
