Colliers Facilitates $13 Million Sale Of Former Charter School Campus In WPB

Colliers has successfully arranged the $13 million sale of the former University Preparatory Academy campus, located at 2101 N. Australian Avenue, in West Palm Beach.

Colliers’ Senior Vice President Bastian Schauer; Executive Vice Presidents Mark Rubin and Michael Falk; and Associates Ryan Buckner and Jake Falk partnered with Vice Presidents Patrick Slagle and Robert Bryan, Senior Vice President Jarrett Morrell, and Associate Brendan Peel of Colliers’ Washington, D.C. office to represent the seller, Building Hope Australian.

The 8.25-acre property includes a 41,981-square-foot educational facility overlooking Clear Lake. Originally built in 1995, the site is currently permitted for use as a private school under Use Code 7200 and is zoned for Professional Office Residential/Planned Development (POR/PD), which allows the mix of professional office, residential, and planned development uses. The buyer, Temple Israel of West Palm Beach, plans to develop the site into a new Center for Jewish Life serving the Palm Beach County community. The facility offers a large, adaptable building suitable for a sanctuary, classrooms, offices, and future uses such as a preschool and community center.

“This transaction highlights the strong demand for infill sites with scale, flexible zoning, and excellent connectivity in West Palm Beach,” said Schauer. “The property offers an ideal space for Temple Israel’s growing congregation and aligns perfectly with their commitment to serving the community,” added Falk.

 

“Partnering with our South Florida team showcased the strength of the Colliers platform and the power of our collaboration to deliver for a national client,” said Slagle.

Temple Israel is the oldest Jewish organization in Palm Beach County and is the only Reform synagogue in West Palm Beach. Its former location at 1901 N. Flagler Drive was sold to real estate developer Related Ross for $30 million. The site is slated for redevelopment as the Shorecrest luxury condominium project.

Strategically positioned on North Australian Avenue, the property offers immediate access to major routes, including Interstate-95, U.S. 1, and Okeechobee Boulevard. It is just minutes from downtown West Palm Beach, the Palm Beach County Convention Center, CityPlace, Palm Beach International Airport, and the West Palm Beach Brightline station.

South Florida has seen over 100 educational facility sales over the last five years, with an average price of $7.9 million (or $376 PSF). The surge in South Florida school-related real estate is the result of a “perfect storm” where non-private school downsizing meets a private-sector investment boom. While public districts begin to monetize valuable land and consolidate campuses to close multimillion-dollar budget gaps caused by under enrollment, private buyers and equity firms alike are aggressively acquiring assets. Ultimately, this market rebalancing is turning underutilized infrastructure into a goldmine for developers who are repurposing sites to keep pace with the region’s rapid demographic shift.