GRAND RAPIDS — Spectrum Health has acquired two more properties in the Monroe North business district to use for its future Center for Transformation and Innovation campus development, MiBiz has learned.
The Grand Rapids health system further expanded its holdings in the district with the June 23 purchase of two adjacent parcels at 637 and 647 Ottawa Ave. NW for $2.5 million. The seller was Grand Rapids-based Elliot Mckone LLC.
The transaction comes as Spectrum Health continues to amass properties in the area north of downtown Grand Rapids, where it is slated to consolidate 1,200 employees at a single location and house a training and learning center.
“The properties were acquired to use in conjunction with the previously announced Center for Transformation and Innovation campus,” said Spectrum spokesperson Susan Krieger. “These properties were acquired for future expansion and so there is not a timeline for development.”
More plans about the new development are expected to be shared this fall, Krieger said.
Spectrum Health is planning the $100 million, 300,000-square-foot Center for Transformation and Innovation office building at 648 Bond Ave. NW, as MiBiz previously reported. The site had been home to a Gill Industries Inc. stamping plant, which the company acquired as part of its 2014 deal for Grand Rapids Spring & Stamping Inc.
The deal for 637 Ottawa Ave. NW included a 3,000-square-foot building that was constructed in 1964, according to property records, and formerly was the Grand Rapids Radiator Hospital auto repair shop. The 647 Ottawa Ave. NW property contains two buildings and formerly housed Pristine Glass Co. Combined, the two parcels amount to a little more than one-third of an acre.
After closing on the $11.05 million deal for the Gill properties in December, Spectrum continued to add nearby parcels to its holdings, as MiBiz previously reported. With the latest transaction, Spectrum has now amassed a total of seven parcels in the Monroe North district. They include:
- A 1-acre parcel with a more than 44,000-square-foot commercial building at 648 Bond Ave. NW, for $3.45 million. The seller was Bond Street Investors LLC, which is registered to CWD Real Estate Investment LLC Partner Sam Cummings.
- A 0.689-acre parcel at 711 Ionia Ave. NW at the northwest corner of Fairbanks Street that Spectrum bought from All Phase Real Estate LLC for $1.15 million
- A 0.115-acre site at 750 Ottawa Ave. NW at the corner with Newberry Street that Twig Studios LLC sold to Spectrum for $850,000.
Outside of the Monroe North district, Spectrum Health also continues to focus its property acquisition strategy along Michigan Street east of downtown Grand Rapids. Most recently, the health system bought 320 Michigan Street NE for $2 million on June 12, as MiBiz reported at the time.
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