Search
 

Charter School Pays $3M for 13 Acres

MESA, AZ-Noah Webster's executive team will use a $12.5-million, tax-exempt bond to develop a campus with up to seven buildings about 1.5 miles from its present location along Baseline Road. The seller is a group of European investors.

By Lee Simmons | Updated on March 22, 2004

MESA, AZ-A limited liability company has closed on 13 acres in the Superstition Springs submarket of Mesa for $2.6 million for the construction of a new charter school.

Superstition Springs Inc., comprised of a group of European investors, sold the land to KW School LLC. Phoenix consultant Sharon Miller tells GlobeSt.com that a $12.5-million, 30-year, tax-exempt bond underwritten by AG Edwards’ Denver office was established in order to finalize the deal. Pima County Industrial Development Authority issued the bond. Miller, also a member of the Noah Webster school board, helped arrange the financing package.

Superstition Springs Inc. owned the site for about 12 years before selling to the school, according to George Long of Colliers International’s Phoenix office, who represented the seller. Larry Cohen of Fulton Andrew in Phoenix represented the KW School.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.