Lee & Associates South Florida Brokers $17M Charter School Sale In Fort Pierce
The transaction set a new pricing benchmark for educational facilities on the Treasure Coast at approximately $229 per square foot.
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The transaction set a new pricing benchmark for educational facilities on the Treasure Coast at approximately $229 per square foot.
Ocean Bank provided $28 million. Senior Vice President Jesus Garcia arranged the loan.
Cleveland Clinic will be the facility’s anchor tenant, occupying the entire 34,000-square-foot first floor.
The 2.77-acre site currently includes about 18,740 square feet of aging industrial space.
The 36,041-square-foot facility is currently 63.4% leased, with 88% of the occupied space dedicated to healthcare users.
Newmark Senior Managing Director Jeremy Hakala and Managing Director Matt Himmelsbach are the listing agents for the project.
The $139 million project also ranks as the the second largest affordable senior housing development in Florida.
The transaction marks the first partnership between the two firms.
The six story, 127,033-square-foot facility, scheduled to open in 2027, is one of the health system’s first major new construction projects in almost 30 years.
The strategy focuses on acquiring and developing early childhood education centers across the United States, including acquisitions of operating schools, sale-leaseback opportunities and value-add repositionings in supply-constrained markets.
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