CRESCO Real Estate represented Horizon Science Academy of Cleveland and its Educational Management Organization Concept Schools in a search for a new elementary school building (grades K thru 5). The building needed to be in close proximity to the near Westside of Downtown Cleveland and capable of accommodating approximately 225 to 250 students.

Approach

• Searched for buildings in or near densely populated residential areas.
• Building amenities needed to include or have potential for inexpensive classroom conversion, gymnasium and/or auditorium assembly area along with green space for an outdoor playground.
• Location needed to be in a convenient area for parental drop off and pick up of students.
• Building rent needed to be affordable per State guidelines for Charter School Building costs.
• Timing was critical. Lease needed to be finalized with the Client able to occupy space prior to classes starting in the fall.

Results

• Identified a former Catholic Diocese School property which included gym, auditorium, existing classrooms and offices with green space sufficient for an enclosed playground area.
• The building ultimately selected was within 1 to 3 miles of densely populated residential neighborhoods.
• Building is located near an intersection of two main roads leading to Cleveland’s Central Business District, making it extremely convenient for working parents to drop off and pick up students.
• Rent met maximum State guidelines.
• Lease was executed on time and classes began on schedule