Lansing Ophthalmology recently bought a $1.18 million, 14,000 square foot building in the Ledges Commerce Park in Grand Ledge.
The building was formally owned by real estate investment firm Maxco, who will continue leasing space in the building. Lansing Ophthalmology will occupy 8,000 square feet of space.
"In today's market, many property owners are eager to work with potential purchasers in order to dispose of their property," says Joe Gentilozzi, with CB Richard Ellis/Martin (CBRE). "Maxco agreed to assume the remaining two years on the purchaser's existing lease, which allowed Lansing Ophthalmology to go ahead with the purchase."
Gentilozzi estimates that Lansing Ophthalmology’s presence in the park will turn the area into “the new Grand Ledge health park.”
“I think with them coming in, it will be a catalyst for other medical users that are wanting to settle in there,” he says.
The building changed hands Dec. 22, 2008. Lansing Ophthalmology’s new address is 1005 Charlevoix Drive.
Source: Joe Gentilozzi, CBRE
Ivy Hughes, development news editor, can be reached here.
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