California Employers Association
2,399 sq. ft.
Huge Savings Upon Lease Renewal
A New Company With Ambitious Growth Plans
Client
- Fortune School of Education
- 50,000 sq. ft.
- Education
Locations
- Sacramento
Services Provided
- Transaction Management
Cresa Team
- Dave Smith
Client Objectives
- Ambitious growth plan of opening multiple K-8 schools in the Sacramento area within a 10-year period.
- Acquire a building or site during the 10-year period for all schools to feed into.
- Create strategy to own a portion of its leased facilities as they grow.
Results
- Cresa helped to creatively select existing retail, office and flex properties for use as school sites.
- Creatively used the talents and resources of the school's leaders to paint a picture of success to each Landlord and its lenders.
- Cresa helped establish a realistic growth model for its facilities needs.
- In a market where school uses are not viewed as a “highest and best” use for Landlords, Cresa helped negotiate aggressive, and in many cases, below market terms for all of its facilities.
- Cresa helped identify and negotiate a land purchase for its soon to be built state of the art high school.
Cresa has been providing real estate services to Fortune School of Education for over 8 years. Dave Smith has really taken the time to understand our facility needs and has been very creative in finding commercial space that we have been able to convert into school sites. Together we have opened seven school sites and we have leased office space for our administrative and higher education functions in both Sacramento and the Bay Area. The next step for our organization is to build a high school from the ground up and Dave has been right there by our side negotiating the purchase of the land. We could not have asked for a better partner than Dave Smith and Cresa to help us navigate the facility needs of our growing organization.Bonnie Benson | Chief Financial Officer
Fortune School of Education
