Arizona has made a significant investment in charter schools, with two EDUPRIZE campuses recently freeing up cash by selling their properties and then leasing them back. A CBRE team, led by Geoffrey Turbow, successfully executed the transaction of six buildings in metro Phoenix for $63.2 million. The combined 233,790 square-foot properties are now triple net leasedback to the school for 15 years.
The first campus includes three two-story buildings located in Gilbert totaling 141,000 square feet on 16.7 acres; while the second property is situated on 10 acres of extra land with potential future developments in Queen Creek – consisting of 50,176 sq ft and 41 983 sq ft respectively – both featuring state-of-the art facilities such as gymnasiums media centers music rooms multiple technology and science labs plus playgrounds
