First Companies is building the third phase of its Heritage Pointe medical office development on vacant land along East Paris Avenue SE in Grand Rapids. Courtesy First Companies
A local developer has planned the third phase of its office development along a medical corridor in town.
First Companies announced this week the purchase of four acres of land in Grand Rapids on East Paris Avenue SE, across the street from its medical office development Heritage Pointe.
Grand Rapids-based First Companies completed a 40,000 build out of the second phase of Heritage Pointe, at 2144 E. Paris Ave. SE, in August 2016. The second-phase building includes Mercy Health, Foot and Ankle Specialists and Oral Surgery Associates. The second phase is currently about three-quarters full, with about 12,000 square feet available for lease.
The first-phase building is home to West Michigan Eyecare Associates and Total Health Chiropractic.
Building plans are currently underway, with construction expected to start later this year. Once the shell is complete, First Companies will manage custom build outs for tenants.
First Companies brought together a group of unnamed investors to finance the deal, with the costs of the project and land acquisition not disclosed.
“We continue to see a demand for professional offices and class-A medical facilities along East Paris,” First Companies CEO Jeff Baker said. “We are in discussions with a number of doctors and medical professionals interested in space across the street.
“We are pleased to be able to meet this need for doctors as well as their patients.”