X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PEMBROKE PINES, FL-Keiser College is subleasing a vacant movie theater at 12520 Pines Blvd. as the site to relocate and expand its Cooper City campus. The location is 40 miles north of Downtown Miami.

The college is paying property owner Harcourt General Inc. $11.80 per sf on the 31,139-sf site, according to terms negotiated by Scott Brenner, Brenner Real Estate Group president, and Buz MacCurdy, a broker associate. The Deerfield Beach, FL-based firm represented Keiser.

The length of the lease wasn’t disclosed, but area brokers familiar with the property tell GlobeSt.com the contract is at least for five years. That term would value the lease at about $367,440 a year or a total $1.84 million. Harcourt General formerly operated as General Cinema.

When renovations are tentatively completed in January, about 300 students, faculty and administrative personnel will relocate from the Cooper City, FL campus. The private two-year college and technical training school operates seven campuses throughout Florida.

Emilio Amendola of DJM Asset Management represented Harcourt General in the transaction.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE 2020Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

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 © 2020 ALM Media Properties, LLC. All Rights Reserved.