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MichiganCRE

Marcus & Millichap closes sale of childcare facility in Michigan

January 14, 2019
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Marcus & Millichap closed the sale of a 12,324-square-foot net-leased childcare property in Davison, Michigan. The asset sold for $1.633 million.

Dominic Sulo, first vice president investments, and Eric Luhrsen, an associate, in Marcus & Millichap’s Chicago Oak Brook office, exclusively marketed the property for the seller and represented the out-of-state 1031-exchange buyer.

Steve Chaben assisted as the broker of record in Michigan.

The property is located at 9203 Lapeer Road. Rainbow Child Care has a 12-year operating history at this location and signed a recent lease renewal that includes a corporate guarantee.

 

 

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