Success Stories

ITT Educational Systems, Inc.

National City, CA
44,000 SF
Cresa San Diego
Download as PDF

Client Objectives

ITT wanted to relocate from their existing 52,000 square foot building that could not be divided, into a 44,000 square foot space that could potentially match or exceed the revenues of the existing school in Kearny Mesa, at a lease cost reduction of their current "per square foot" cost. This school location has historically been the highest grossing school in the nation.

Cresa Team Members

Results

After considering all surrounding markets that fell within ITT's geographic parameters, Cresa found the building with the most attractive rent coupled with the most convenient amenities and public transportation. This newly remodeled building has exceptional freeway visibility in National City. With the new location being 22 miles south of the current location, it was imperative to complete a demographic study to determine if ITT's future student base would be in the geographic vicinity of the new location, and if those students attending their current school would be willing to attend classes at an additional school in north county or commute to National City. It was determined that their future student base was better served by the National City location and that a large portion of their current student base preferred National City. Overall, the location is a better fit for ITT and they were able to save almost $1,000,000 over the term of the lease.

Additional Assignments

This is the third transaction in which Cresa has represented ITT Educational Services, Inc. in San Diego County.

Search

Top Stories