New Jersey Investor Acquires La Petite Academy In North Port For $3.64 Million

The property asset involved is a school located at 2700 Bobcat Village Center Road in North Port, FL. This asset type encompasses 2 acres and offers 20,218 square feet of space. The sale price was $3,640,000, translating to a price per square foot of $180.

Summary of transation details:

• Property Type: School
• Transaction Amount: $3,640,000
• Address: 2700 Bobcat Village Center Road
• Market: North Port, FL
• Asset Size: 20,218 SF
• Price Per SF: $180
• Brokerage Firm: Marcus & Millichap
• Brokers: Dominic Sulo, Don McMinn & Ryan Nee
• Lease Type: Corporate-backed triple-net lease
• Remaining Lease Term: 8 years
• Buyer: New Jersey investor
• Seller: LLC tied to Realty Income

A New Jersey investor conducted the acquisition through a 1031 Exchange, further detailing the transaction's structure. The property is leased to La Petite Academy, which provides operational stability under the terms of the remaining lease period.