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TROY, MI-Michigan Therapy Institute has opened its fifth clinic in the area, thanks to the purchase of a 7,072-sf office building for $1.4 million, which was $100,000 under the original list price of $1.5 million.

Located at 22537 Hall Rd., the property, sold by the developer, RCM Properties, LLC, was purchased by Pantelli Properties, LLC, an investment arm of the Michigan Therapy Institute. The date for move-in could not be obtained by press time, nor was it certain if any improvements or build-outs would be completed on the building.

According to Mason L, Capitani, an associate with L. Mason Capitani Inc. in Detroit, the one-year-old building wasn’t listed on the market, but was made available for lease. However, “we brought in the buyer, and secured a price that ended up being agreeable to the seller,” Capitani tells GlobeSt.com. “We secured a price that made sense for him to sell.” Capitani and L. Mason Capitani’s Al Iafrate represented both parties in the transaction.

Other locations for the Michigan Therapy Institute include Clinton Township, Warren and Gratiot. It could not be determined if further expansion is in the works for the physical therapy clinics.

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