March 14, 2023 – Anthony Spangler and Mark Heidecke of Horvath & Tremblay have successfully completed the sale of WellNow Urgent Care in Grand Rapids, Michigan. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $3,260,000.
WellNow Urgent Care is located at 4290 Lake Michigan Drive in Grand Rapids, Michigan. The stand-alone building was constructed in 2022 and is comprised of 4,250 square feet and sits on a 1.8-acre lot. The new construction WellNow Urgent Care has 9+ years remaining on their double net (NN) lease with three, 5-year renewal options. The lease calls for 8% rent increases every five (5) years throughout the base term and option periods. WellNow is exceptionally well located along Lake Michigan Drive, the primary retail corridor traversing the area. Just seconds from the signalized intersection of Wilson Avenue NW and Lake Michigan Drive, the Property is positioned in the center of a dominant and growing commercial trade area that is improved by a number of large shopping centers and new construction single tenant buildings. The area is home to numerous national retailers drawing traffic to the area, and several large residential communities providing a built-in customer base. The Property is positioned 5-miles west of downtown Grand Rapids.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.