News: Brokerage

Miller of SCG acts for South Bronx Early College Academy in 38,000 s/f lease

Rendering, South Bronx Early College Academy Charter School  at 766 Westchester Avenue - Bronx, NY Rendering, South Bronx Early College Academy Charter School
at 766 Westchester Avenue - Bronx, NY

Bronx, NY SCG Retail, a division of The Shopping Center Group, has signed a 38,000 s/f lease for The South Bronx Early College Academy Charter School at 766 Westchester Ave. The school is currently at 423 East 138th St. Michael Miller of SCG Retail represented Early College Academy.

Radame Perez, COO of Mastermind, Ltd, is developing a two-story middle school that will provide an education for 330 children.  The facility includes a rooftop educational and activities space. Currently a vacant lot, the developer will absorb a total development cost of $14 million on the build-to-suit building.

The school plans to open in January, 2017.  Jesse Rubens of MHP Real Estate Services represented the developer.

According Miller, “An incredible amount of passion, commitment and hard work went into making this happen. Quite frankly, without Radame’s vision and belief in the South Bronx Academy, this wouldn’t have happened. This deal is as much about the faith in the tenant and the future of the South Bronx, as it is a business deal.”

Ric Campbell, executive director and co-founder of the school, was instrumental in working with the developer to get the deal done. The Early College Academy has also received a New York State Stimulus Fund Grant from the SUNY Charter Schools Institute that will support the build out of the rooftop activities area.

The South Bronx Early College Academy Charter School (Early College Academy) provides a rigorous and comprehensive liberal arts education to students in the South Bronx through a challenging, New York State (NYS) Common Core standards-aligned curriculum. The Early College Academy has established a learning environment that emphasizes differentiation and personalization of instruction and a student-centered and fully inclusive approach to teaching and learning. Students will graduate from the Early College Academy prepared for success in college and for active and thoughtful citizenship.

The new facility fitted out with technology, science laboratories, instrumental and choral music rooms, art studios, and other subject area dedicated classrooms will provide a campus appropriate to the school’s mission and reflective of its college-bound aspirations.

The lease was signed at the end of last year and ground was just broken. The Early College Academy is serving its first class of 115 6th Grade students out of a temporary location at 423 E. 138th and will take possession of the new location in December of this year.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their