Meridian Development Group announced today the sale of a 53,000 square foot property located at 6220 McIntosh Road.
The two-story building was built by Meridian in 2009 as part of the first phase of development of Meridian Business Center, a 90,000 SF 13-acre business park. The building was a build-to-suit property for national charter school Imagine Schools, which has leased the property since it was built. (imagineschools.org)
Meridian sold the building for $10,200,000 to Charter School Capital, headquartered in Portland, Oregon. (charterschoolcapital.org)
"With the large influx of residents to the Sarasota area, residential development is expanding," said Meridian managing director Steven Kossoff. "Nearby Palmer Ranch and other residential communities benefit from education options like Imagine Schools offering exceptional tuition-free education so close to where families live and work."
Kossoff said developing a school at the business park just made sense. "With more than 600 people working in the adjacent Meridian Distribution Center, parents find it convenient to drop off and pick up their children, and visit during the school day."
Rick Brugge, Senior Director with Cushman & Wakefield, represented both parties in the sale.
Phase two of Meridian Business Center includes 90,000 SF of ready-to-build office and warehouse space.