Posted on January 10, 2012
PHOENIX, AZ. – Crown West Realty inked a fifteen-year, absolute net lease with K-12 public charter school management companies Choice Education and Development and EdKey, Inc., to occupy a single-tenant 26,000 square foot building in Arizona Business Park, located at 16454 North 28th Avenue in Phoenix. Choice and Edkey operate together as Sequoia Schools, and have 13 locations throughout the Valley. Sequoia’s Redwood school, currently located in Peoria, will be relocated to the building to become part of a campus with Arizona Academy for Arts and Academics, directly across the street.
“Crown West Realty acquired the property in a joint venture with Travelers as part of a ten building portfolio in 2004,” said Bob Olshan, Vice President for Crown West Realty. “The location and configuration worked perfectly for Sequoia’s desires to create a campus setting and serve a broader range of grade levels.”
Todd Noel of Colliers International represented Sequoia Schools. Charles Miscio and Greg McMillan of Colliers International represented Crown West Realty.
Crown West Realty is a full-service real estate investment, development, and management firm with offices in New York City, Phoenix, Denver, and Spokane. Crown West Realty was formed in 1996 by its parent company, New York investment firm, Petrus Partners, Ltd. The Petrus Partners-Crown West group manages a series of discretionary investment funds totaling over $200 million of equity and owns and manages eight million square feet of office, industrial, and mixed-use properties together with land development investments nationwide.
For further information, contact Bob Olshan, Vice President.