CBRE|Martin has closed the sale of 4942 Dawn Ave. in East Lansing, Mich., a two-story laboratory located near Grand River Avenue and Park Lake Road.
Formerly occupied by Huntsman, the 22,078-square-foot laboratory building has been idle for years. The new owner purchased the property as an investment, with significant upgrades to the building planned. Once renovations are complete, the multi-tenant building will be one of few in the area that will offer state-of-the-art laboratory space for lease.
“Until now, the Lansing area has lacked sufficient laboratory space equipped to serve the wet lab needs of early stage life-sciences entrepreneurs. It is our plan to bring this building back to life, redesigned to serve the unique needs of early stage biotech and life science businesses eager to locate in our region,” said Jason Schreiber, representative for the project, in a written statement.
CBRE senior associate and office advisor Thomas Jamieson represented the seller in the transaction.
