Northstar Commercial Partners Purchases 76,000 SF Office in Colorado Springs for Charter School Conversion
Denver, CO – Today, Northstar Commercial Partners announced the successful acquisition of a 76,000 square foot office building in Colorado Springs that will be converted for use by a local charter school.
The property, located at 7899 Lexington Drive in northeast Colorado Springs, comprises 76,138 SF on 4.34 acres. Northstar identified this vacant office building for a charter school, and signed a long term lease with them upon closing.
“The purchase of the Lexington Drive property in Colorado Springs has already been a success story, both for us here at Northstar as well as for the local Springs community,” said Brian Watson, Founder & CEO of Northstar.
“We were able to secure a long term lease with an exciting new tenant as well as further our focus of utilizing real estate to improve choice, competition, and thus the quality of education here in Colorado.”
Merlin Holmes, Founder of Capstone Academy, the charter school set to move into the facility next year, said: “We are tremendously excited about this building and the location in Colorado Springs. It will be a fantastic home for our Purpose Drive Education model.”
“We will have the space we need to start Capstone Academy in August of 2016 and additional space as we grow in the coming years. We are very thankful to have Northstar as our partner in securing this facility,” Holmes concluded.
The conversion work set to take place at the building will not be the first time Northstar has worked hand in hand with local education efforts and charter schools. In the last year, Northstar partnered with schools like Denver Christian and Academy 360 to meet their facility needs, allowing for additional student growth and expanded academic opportunities.
Northstar and Watson were also featured in the Wall Street Journal in an October article detailing the company’s investment into locating and securing facilities for charter schools. Northstar hopes to use its $100 million Education Opportunity Fund to help eliminate one of the greatest hurdles to the sustainability of charter schools throughout the country: access to affordable and proper educational facilities.
Watson observed that, “Colorado Springs is a thriving community with a great deal happening for local choice and innovation in education."
“I’m confident that our most recent acquisition, Lexington Drive, will be another part of this encouraging trend of empowering students, parents, teachers, and the community as a whole,” Watson concluded.
To learn more about the Education Opportunity Fund, please visit: www.educationopportunityfund.com
To learn more about Northstar Commercial Partners, please visit: www.northstarcp.com.
To learn more about Brian Watson and his community efforts, please visit: www.brianwatson.us
For more information about Capstone Academy, see their website at www.capstonecollegiate.org or follow them on Facebook @ facebook.com/capstoneacademyD20