ATLANTA-Germania of America Inc., an Atlanta-based privateinvestment group using funds from German investors, has leased afreestanding, nearly 41,000-square-foot flex/office building inDuluth, GA to the New Life Academy of Excellence, a charter schoolthat emphasizes the teaching of Chinese to children in gradesK-8.

The rent at the approximately 15-year-old property, which wasbuilt as a distribution building with dock doors in the back, butwhich in recent years has had an office buildout, is comparable towhat a commercial tenant would pay, says Bill Bruist, senior vicepresident at Colliers International, who represented Germania ofAmerica in the deal. He declined to reveal the specific rentalrate.

But according to Alphonsa Foward, Jr., founder and CEO of theNew Life Academy,“The rent was aggressive (as in not expensive)because of the economy.” Also, the school is doing its ownbuildout, which may have lowered the rent. The school signed atriple net lease, which runs for three to five years, says Foward,declining to reveal the exact length of the lease.