ORLANDO—The former Bally's location ins Casselberry, FL is now the permanent home to Herzing University. Herzing acquired the asset for $4.45 million from Casselberry Partnership, LTD, for $4.45 million after leasing it since 2010.

Some brokers recommend tenants purchase buildings they are leasing in today's market in order to leverage the low cost of capital, avoid paying sales tax on the lease, lowering operating costs, and being their own landlord. It's not always a good match, but it worked for Herzing, a for-profit university with 11 campuses in eight states, provides undergraduate, graduate, online and continuing education programs. The Casselberry campus is its only location in Florida.

Cynthia Shelton and Kane Morris-Webster of Colliers International Central Florida and Mike Milano and Ron Schultz of Colliers International Tampa Bay represented the seller. The property is located at 1865 Semoran Boulevard.