PALM BEACH, FL—In a record low cap rate for a charter school, The Imagine School building in Boynton Beach, FL has traded hands. The building is under a long-term, triple net lease.
Michael Zimmerman, managing director with Calkain Companies, represented both parties in the transaction. The seller, a South Florida-based development company,
originally constructed the property as a build-to-suit for the tenant.
Located at 3333 High Ridge Road in Boynton Beach, FL, the net leased asset sold to a private investor for $16,381,800. The cap rate was 7.5%.
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