NAI Wisinski of West Michigan is pleased to announce the successful sale of 312 Baldwin Street in Jenison, Michigan, a 13,262-square-foot multi-tenant commercial property. Jenison is in the Grand Rapids market.
Bob Lotzar of NAI Wisinski represented the seller in the transaction. The property was initially brought to market as a largely occupied investment opportunity, but the sales strategy shifted shortly after listing when a long-term tenant announced plans to vacate approximately 3,500 square feet, or 26% of the building.
In response, Lotzar expanded the property’s positioning beyond traditional investors to include owner-users who could occupy the available space while benefiting from income generated by the existing tenants. The vacant space was also actively marketed for lease, allowing the team to pursue multiple strategies on behalf of the seller.
The approach generated significant market interest, with approximately 20 to 25 prospective buyers evaluating the property. That activity ultimately resulted in three offers being submitted on the same day. Lotzar initiated a best-and-final process, evaluating price alongside due diligence, financing, and closing terms to identify the strongest overall offer for the seller.
NAI Wisinski also supported the California-based seller through its Property Management team. The property was transitioned to NAI Wisinski for management, providing local oversight during the sales process and allowing the brokerage and property management teams to work together on behalf of the owner.
The property was ultimately sold to an owner-user, validating the decision to expand its positioning beyond traditional investors. The transaction demonstrates how adjusting a property’s positioning and expanding the buyer pool can help maintain momentum when circumstances change during the sales process.
