Cushman & Wakefield’s Healthcare Capital Markets team has completed the $2.6 million sale of the Regal Court medical office building in Warren, Michigan.
Cushman & Wakefield managing directors Gino Lollio, Scott Niedergang and Travis Ives and Detroit managing Principal Garrett Keais represented the seller, Promanas, an Ann Arbor, Michigan-based commercial real estate private equity firm. The team also procured local purchaser, CMG Realty Group.
CMG Realty Group acquired Regal Court I and II, which includes two buildings totaling 40,181 square feet at 27472 and 27550 Schoenherr Road in Warren. The development is near Ascension St. John Macomb-Oakland Hospital’s Madison Heights and Warren campuses and is anchored by Ascension-affiliated practices, as well as Mendelson Orthopedics. Population within a five-mile radius totals more than 350,000, and average household income within one mile is $65,501.
In 2020, the Cushman & Wakefield Healthcare Capital Markets team closed 228 healthcare real estate transactions valued at more than $1.52 Billion.
