NAI Mertz repped both sides of the transaction. The firm's senior vice president, Mal Shreibman, and vice president Alan Good spoke for the seller First Industrial Realty Trust, while Maryann Franken, senior vice president of the firm's Office Division, represented the buyer, King's Christian School.
The locally-based buyer, a parent-sponsored Christian school that dates back to the mid 1940s, plans to convert its acquisition into a permanent facility for its junior/senior high school. "For many years, the school has had a strategic initiative to find a permanent facility for the junior/senior high school," explains John Ackley, president of the institution's board of directors.
"We've been leasing since the early 1980s, and while it took a long time to get to this point, we've kept the faith," Ackley continues. "Our new location holds a great deal of long-term potential."
King's Christian School enrolls a total of 500 students in grades K-12. About half of that number are junior and senior high schoolers who will populate the new facility when it opens later this year.
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