The college is paying property owner Harcourt General Inc. $11.80 per sf on the 31,139-sf site, according to terms negotiated by Scott Brenner, Brenner Real Estate Group president, and Buz MacCurdy, a broker associate. The Deerfield Beach, FL-based firm represented Keiser.
The length of the lease wasn't disclosed, but area brokers familiar with the property tell GlobeSt.com the contract is at least for five years. That term would value the lease at about $367,440 a year or a total $1.84 million. Harcourt General formerly operated as General Cinema.
When renovations are tentatively completed in January, about 300 students, faculty and administrative personnel will relocate from the Cooper City, FL campus. The private two-year college and technical training school operates seven campuses throughout Florida.
Emilio Amendola of DJM Asset Management represented Harcourt General in the transaction.
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