Phoenix, Arizona -- Charter School Solutions Sonoran, LLC has purchased a school campus at 17667 N. 91st Ave. in Peoria for $6.8 million. The site is home to Sonoran Science Academy, which has leased the property since 2014
“This is yet another sale further validating educational based real estate as a defined institutional asset class,” says Todd Noel, executive vice president with Colliers International in Greater Phoenix. “The response from prospective buyers continues to be strong as they look to diversify and enhance yield spread.”
The California-based Charter School Solutions Sonoran, LLC purchased the campus from Fenway Properties of San Diego, CA. Noel negotiated the sale transaction.
The 30,604-square-foot school campus was built in 2005. It contains 16 classrooms, high-end administrative offices, a large multi-purpose room and multiple basketball courts. The sale equated to a price of $222.19 per square foot.