PORTAGE — Commercial real estate firm The Hinman Co. has made its second property acquisition in Portage in the past six months.
The Portage-based Hinman Co. acquired the former Manatron Inc. building on Dec. 29 at 510 E. Milham Ave. The firm declined to disclose the purchase price. Manatron acquired the property in 2009 for $850,000, according to property records.
Hinman also bought a former Ascension Borgess medical office on Sept. 17 at 7895 Currier Drive in Portage for $800,000, according to property records.
The single-story, 50,000-square-foot building on Milham Avenue is located near I-94. The modernist style building was constructed in 1968 and was designed by Stone & Parent Architects of Kalamazoo.
The Hinman Co. plans to “reposition” the property as the Milham Tech Center to appeal to a variety of businesses that could include office, flexible research and development, high-tech or medical uses, company officials announced today.
“Having been invested in Portage for many decades, we are pleased to add this flexible building into our diverse managed portfolio of office, retail and multi-family properties,” Hinman Co. CEO Roger Hinman said in a statement. “A refresh and rebranding of the property as the Milham Tech Center will position the building for the next generation of business, technology, and research users.”
The Hinman Co. plans to oversee the management and leasing of the building. Current tenants occupying the building include blood center Versiti and Thriveworks Counseling. Roughly 38,000 square feet of additional flexible space is available for lease.