Services Provided:

Brokerage

Industries:

Education

Location

St. Paul, MN

Size

42,100 SF

Broker:

Eric Rapp

Project Summary

Challenge

In 2011 Dugsi Academy, a K-8 school primarily educating children of first generation East African immigrants, selected Colliers International to assist in the relocation of their school as they were approaching the end of their lease term and had outgrown their existing space.

Dugsi Academy preferred to remain in the same urban area, which created an initial challenge because there were no school buildings available in the area. Additional requirements included finding a building with a gymnasium, outdoor space, and direct street level access, as they were currently on the third floor of a multi-tenant building. It was also important to find a landlord who had experience working with charter schools and the ability to convert and office, industrial, or retail building to a school.

Services

Colliers International utilized their in-house research capabilities to undergo an extensive search of the area, analyzing all available spaces and the possibility of converting spaces to accommodate a school. The Colliers team negotiated lease rates, landlord coverage of the build-out, and other deal terms. In addition, the team provided advisory assistance through the duration of the project by working with the architects to design potential layouts and working with the construction contractor through project completion.

Results

Dugsi Academy singed a ten year lease on 42,000 SF. The Colliers team was able to unveil the potential of the former industrial property, meeting Dugsi Academy’s requirements and most importantly, finding a landlord that experience with charter schools and the finances to execute the deal. The new space is allowing Dugsi to fulfill its important mission.