Mar
19

Net-Leased Educational Buildings Hot Commodity

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Net-leased properties in the educational realm continue trading hands. The latest example is a duo of Virginia College properties. Virginia College is a chain of private, for-profit, nationally accredited post-secondary institutions located primarily in the southeastern United States.

Although these commercial real estate assets haven’t sold yet, Marcus & Millichap has the exclusively listing on the single-tenant net leased properties. The list price for the 102,098-square-foot Macon, GA property is $10.3 million, which equates to $101 per square foot. The 90,982-square-foot Baton Rouge, LA property is listed for $12 million, which represents $132 per square foot.

Marc E. Strauss, first vice president investments, and Richard Moravek and Aaron O’Connor, associates, all in M&M’s Fort Lauderdale, FL office, are representing the seller. William Hoffpauir, senior associate in M&M’s Lafayette, LA office, is the firm’s broker of record in Louisiana. Michael J. Fasano, vice president and regional manager in Atlanta, is the firm’s broker of record in Georgia.

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