Bingham Farms-based Core Partners and investment group Burton-Katzman has acquired four industrial properties in the Grand Rapids area for $12.8 million. The properties are in Kentwood, Caledonia, and Byron Center. “The Grand Rapids market has reached record-low vacancy levels — and these four assets provide for tremendous diversity by geography and industry sector,” says Peter Burton, Core-BKG principal.
The single-tenant industrial sites are leased to Corium International, Aspen Surgical, and United Rentals. The acquisition brings Core-BKG to the west Michigan market, which has vacancy rates hovering around 2 percent.
Burton says in the last two years, Core-BKG has purchased 1.5 million square feet of property in and looks to acquire more industrial properties in the Grand Rapids are as well as Detroit, Lansing, and northern Ohio.
