FRIDAY, NOVEMBER 07, 2008

Ann Arbor office building brings $2.1M

by Drew Smith
Ann Arbor

Marcus & Millichap has negotiated the sale of the UnitedHealth Care building in Ann Arbor, Mich., for $2.1 million

Bill O'Connor and Paul Kerber of the firm's Detroit office represented the seller in the transaction.

The single-tenant building is located at 200 Morgan Road and sold for $84 per square foot. It is currently 100 percent leased to UnitedHealth Care and sold with an 11.32 percent capitalization rate.

UnitedHealth Care is doing business in the building as i3 Drug Safety - Ingenix. The company plans to expand and add 70 new employees at this location.

Address: 200 Morgan Road, Ann Arbor, Mich.

Size: 25,000 square feet

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