Investment Overview

Marcus & Millichap is pleased to offer qualified investors the opportunity to acquire 2900 West, a 53,180 SF, 82% occupied five-story, suburban office building located at 2900 West Road in East Lansing, Michigan. The offering provides investors top-tier tenancy and strong stabilized yield at a significant discount to replacement cost. Built in 2006, the Property features a modern aesthetic and is the premier office building in the East Lansing submarket. 2900 West is home to prestigious anchor tenants Morgan Stanley, Thrun Law Firm, and Acrisure Insurance. Morgan Stanley signed a 7-year extension in 2023 and is investing north of $200,000 of their own capital to update their space. Thrun Law Firm has been at the Property since construction and invested additional capital to reinforce the floor in their space due to their excessively heavy files, making them an extremely sticky tenant. Acrisure Insurance expanded in 2023 and paid for that buildout demonstrating their commitment to the Property. The offering includes floors 2-5, as well as the basement which houses storage and a recently renovated fitness center. The first floor is separately owned by Independent Bank. The Property features a value-add opportunity through the lease-up of two vacant suites totaling 9,422 SF. Leasing the two vacant suites would drive the Net Operating Income up more than $280,000 with a pro forma cap rate of 12.1 percent.