Marcus & Millichap recently closed the sale of One Michigan Avenue, a 10-story, 154,000-square-foot multi-tenant office building in Lansing, Michigan.
The approximately $16.5 million sales price equates to more than $110 per square foot.
John Godwin and Richard O’Connor with Marcus & Millichap represented the seller, a Lansing-based partnership. Godwin procured the buyer, a regional investment group.
Built in 1983, the building is located at the southeast corner of Washington Square and Ottawa Street in Lansing’s central business district, adjacent to the Radisson Hotel and near the Michigan State Capitol.
At the time of the sale, One Michigan Avenue was 98 percent occupied.
